Finance News
-
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.
-
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%.
-
Egypt’s market interest rates slightly decline despite CBE’s 0.5% cut
Returns on debt instruments also see minor decreases.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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
-
More inclusion for SMEs in Egyptian exchange
EGX announced the new account aggregation system for securities listed on the SMEs market.
-
Al-Sisi directs banks in Egypt to continue local market support
Directives are to ensure the country achieves its desired goals, and support MSMEs and those that deal with social protection.
-
Egypt to launch commodities exchange by end-August
The commodities exchange will enhance transparency in commodity pricing, which will contribute to creating greater price stability, the minister added
-
Egypt to offer 26 T-bills, bonds tenders worth EGP 185.25bn in August
Auctions part of government plan to borrow EGP 600bn from local market in Q1 of FY 2020/2021.
-
EIB grants Egypt €1.9bn
The sum is to support Egypt's public transport, business investment.
-
Microfinance sector contributes less than 1% of Egypt’s GDP
The microfinance portfolio in Egypt has recorded EGP 26 billion, which is under 1 percent of the country’s GDP of around EGP 4 trillion.
-
Reopening Egypt's economy: The new normal
On 27 June, more than three months after they were imposed, Egypt began lifting many of the restrictions put in place to curb the spread of corona.
-
SMEs join beneficiaries of financing initiative
CBE added small and medium enterprises to the list of beneficiaries of an GP 100billion initiative to support economy amid COVID-19 crisis.
-
Egypt's economy grows 5% in Q3
COVID-19 caused a slowdown in various economic activities.
-
Egypt's finance ministry introduces new facilities for financial leasing providers
The new facilities include deducting interests of loans and cash advances from companies’ net profits.