Finance News
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Pioneers Securities tops brokerage transactions in October with 20% market share
Commercial International Brokerage comes second with market share of 16.4%.
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$360M loan aims to enhance Egypt's macro fiscal sustainability
Egypt Inclusive Growth for Sustainable Recovery program duration is around 17 months, with the closing date planned for March 31st, 2023.
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CBE to decide key interest rates amid rising inflation
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) will convene on Thursday to review the key interest rates.
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Lifting state of emergency to help Egypt attract new foreign investment
Egyptian Exchange indices responded strongly to president's decision; Investment bankers welcomed the recent developments.
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CDC’s development financing portfolio in Egypt amounts to €440 m
Minister of International Cooperation discusses with CDC's Board of Directors, means of bolstering their activities in Egypt.
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Fitch Solutions maintains Egypt’s real GDP growth forecasts at 3%
Fitch Solutions has maintained its projections for Egypt’s real GDP growth and inflation during 2021 at 3 percent and 5.1 percent respectively.
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Agricultural Bank aims to reach 35mln customers
ABE to complete development of 1,000 branches nationwide by late 2022, more branches to come in villages and remote areas.
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Central Bank of Egypt reveals reasons behind high inflation
This comes as monthly headline urban inflation recorded 1.1% in September compared to 0.3% in September 2020. Consequently.
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Finance Ministry aims to increase sources of funding
Capital market demands tax justice. Yield curve reflects risks of different terms: Sharkawy.
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Pressing ahead with economic reforms will create more jobs
Egypt was among the few countries that achieved a positive growth last year despite the Covid-19 outbreak, IMF.
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Poverty rate in Egypt drops by 3%
Education levels are the most important indication of poverty, since poverty rates fall as people’s levels of education grow, CAPMAS.
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Sisi urges maintaining financial performance to reduce deficit
The state should also work on reducing the total deficit of the general budget to 6.7 percent and reducing the debt to less than 90%.
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Mashreq Bank signs partnership with Visa
Latest partnership aligned with Egypt’s ambitious strategy to encourage electronic payments ecosystem in country.
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Int'l financial institutions should assume bigger role
They need to provide more funding for mega infrastructure projects through soft loans and blended and innovative financing.
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Credit Agricole Egypt allocates EGP 200m to finance medical sector
In an official ceremony, UltraTeb was launched as the first electronic platform for providing medical supplies, with innovative bank financing.
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World Bank working on various programs in Egypt
The World Bank do vaccination programs in many of the countries, and we've worked with and encouraged Egypt in contracting, said the WBG’s President.
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Egypt, IFC sign agreement to facilitate women access to financing
International Finance Corporation and the National Council for Women signed at the Ministry of International Cooperation, to support women empowerment
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Egypt's government gross debt to hit 91.4% of GDP in 2021
The International Monetary Fund (IMF) projected Egypt’s government gross debt to hit 91.4 percent of its GDP in 2021, up from the 89.8% in 2020.
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Egypt to join JP Morgan bond index for emerging markets
Egypt is set to join JP Morgan’s GBI index for emerging markets as of the end of January 2022, JP Morgan announced.
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Egypt’s annual inflation highest since December 2020
Egypt’s headline annual inflation rose to eight percent in September, up from 3.3 percent in the same month of 2020 and 6.4 percent in August 2021.