Finance News
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Legislative, economic reforms drive Egyptian market growth: Misr Capital
CBE's tendency to reduce interest rates created great demand from companies to finance their expansions through debt instruments.
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IMF forecasts Egypt’s economy to record 2.8% growth in FY 2020/21
Egypt's economy was heavily effected by coronavirus pandemic, which took it's toll on tourism, and worker remittances, yet it avoided contraction.
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2020 Egypt economy contracts 1.1%, but 6.1% recovery projected in 2021
Under a pessimistic scenario, the country’s economy saw an estimated contraction of 2.1% in 2020, to be followed by 7.5% growth in 2021.
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Rethinking Egypt Economy
How was Egypt's economy performing and how that changed after COVID-19 hit? What are the options moving forward? MEI paper has an answer to all these.
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Egypt is working on establishment of first commodity exchange company
The new exchange aims at shrinking the circle of commodity trading from the source to the consumer, and saving the transportation cost.
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IMF completes Egypt’s SBA loan review, $1.6 bln to be disbursed
The IMF said that Egyptian authorities have managed well the COVID-19 crisis and related disruption to economic activity.
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Upturn targets $51.19mln in sales at Egypt's Centric Business District development
The development is set to comprise six phases, and encompass a total of 110 units, once completed.
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HSBC expects Egypt to build on growth momentum during 2021
The event held at a critical time for the global economy, with countries around the world ending 2020 with increasing COVID-19 cases.
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Egypt cuts interest rates
Egypt’s central bank cut its main interest rates by 50 basis points to support an economy badly hit by the coronavirus pandemic.
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Egypt set to issue its first sovereign Islamic sukuk
The move is part of the finance ministry’s plan to diversify its base of investors who want to invest in governmental financial securities.
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Exchange rate liberalisation proves economic boon
Four years have passed since the Central Bank of Egypt (CBE) took a bold decision to liberalise the exchange rate on 3 November 2016.
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Egypt annual inflation rate in decline
The inflation rate projected by the end of this quarter due in November is about 5% while the rate expected for the next 2 fiscal years stands at 6%.
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Egypt’s market interest rates slightly decline despite CBE’s 0.5% cut
Returns on debt instruments also see minor decreases.
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Egypt cuts interest rates by 50 bps as inflation subsides
The bank’s Monetary Policy Committee (MPC) reduced the lending rate to 9.75 percent and the deposit rate to 8.75 percent.
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Egypt’s new banking law comes into force after Al-Sisi’s ratification
Banks obliged to reconcile their conditions under its provisions within 1 year, transition period can be extended for 2 years.
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Egypt's Faisal Islamic Bank records $7.15bln in business volume during August
The number of customer accounts grew to about 1.775mln in August 2020.
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10 Things Goldman Sachs said about Egypt economy
What will CBE do about interest rates? Goldman Sachs predicted it in their new report where they hailed Egyptian economy as a strong emerging market.
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Odin eyes EGP 1bn stock market investment through new fund
El-Sayed added that his company plans to establish another venture capital investment fund, with a capital of EGP 1bn in early 2021.
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Bahrain's ABC joins race to buy Blom's Egypt business
HSBC is advising Bank ABC on the talks, two sources familiar with the deal told Reuters. HSBC declined to comment.
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Moody's rating reflects confidence on Egypt's economy: Finance Min.
The economic reform program provided a measure of resilience to the Egyptian economy that enables it to interact with internal and external challenges