Finance News
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National Bank of Egypt and Banque Misr CDs sales amount to LE 205B
Mohamed El Etreby, Chairman of Banque Misr, also reported proceeds reaching LE 70 billion since the launch.
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Government reduces its stakes in 61 companies for IPO programme
The Egyptian government decided to include 61 new companies in its IPO programme, from which exiting could be faster than others.
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Egypt Aims to Raise Interest on T-bills to 22% in 2024/25 Draft Budget
The Ministry of Finance expects an increase in the real growth rates of the economy to 4.7%, compared to estimates of 3% in the current fiscal year.
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Egypt's annual headline inflation slows to 33.7% in December
The figure was slightly higher than the median 33.4% forecast by 14 analysts.
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Egypt's dollar bonds rally after Yellen signals support
Last month, the IMF appeared to shift its emphasis from the exchange rate to inflation targeting.
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Egyptian private equity firm Ezdehar Management acquires 80%+ stake in apparel company behind Dalydress and Premoda
Local private equity firmEzdehar Management has purchased above 80% stake in clothing company SETA Textiles.
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World Bank mission visits Egypt to discuss state ownership policy and financing
A mission from the World Bank arrived in Egypt on Tuesday for a multi-day visit to discuss the development of the country's State Ownership policy.
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JP Morgan to exclude Egypt from emerging market gov't bond index by end of January
Egypt has been under index surveillance since September 21, 2023, due to issues related to reported difficulties.
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Egypt's economic strategy for 2024-2030
The Egyptian government launched in January a comprehensive eight-direction economic strategy for the period 2024-2030.
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Proceeds of new CDs exceeded LE 32 billion in 3 days
The source added that NBE’s proceeds exceeded LE17 billion, while Banque Misr’s reached about LE15 billion on Monday.
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World Bank slightly downgrades Egypt’s growth forecast for 2024
The World Bank downgraded its forecasts for Egypt’s real GDP growth for 2024 to 3.5 percent from 3.7 percent in a previous estimate.
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Yellen to meet with Egypt's finance minister, central banker Tuesday
U.S. Treasury Secretary Janet Yellen will meet with top Egyptian finance officials in Washington on Tuesday.
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Egyptian economic and financial delegation in Washington for IMF talks: What do we know so far?
A high-level delegation from the Egyptian government has arrived in Washington DC to push forward Egypt's almost standstill loan programme.
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Egypt's central bank mandates 24% minimum interest on loans: Sources
The Central Bank of Egypt (CBE) has instructed all banks operating in the country to apply a minimum interest rate of 24 percent on loans.
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Egypt aims to launch digital currency by 2030
Egypt aims to launch a digital currency issued by the Central Bank of Egypt, represented by the digital pound (E-Pound) by 2030.
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Egypt sets EGP 15 mln as minimum capital for fintech startups
The approval is part of a broader initiative to bolster support for fintech startups and promote a business-favorable climate, as per the statement.
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Egypt inflation expected to slow in December
Inflation has eased from a historic high of 38.0% in September, but inflation risks are growing again.
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Egypt releases comprehensive economic blueprint for 2024-2030
Strategic roadmap to fortify the Egyptian economy in a turbulent global landscape.
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205 startups receive LE383.5M from Egypt Ventures over 7 years
Egypt Ventures was founded in 2017 with capital from the Ministry of International Cooperation with a mandate to support and invest in startups.
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Cabinet Spokesman: International Reports Confirm Unrealistic Dollar Rate on Parallel Market
The state is working to increase the dollar and foreign exchange assets to $300 billion annually.