Finance News
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64% of Egypt's businesses are more optimistic about future in the market
The latest HSBC ‘Navigator: Now, next and how’ survey of over 9,100 companies in 35 countries found that 64% of businesses in Egypt are optimistic.
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Egypt's Suez Canal records highest ever monthly revenues in October
Revenues from the canal recorded a yearly growth rate of 5.4 percent in fiscal year (FY) 2018/2019, reaching $5.9 billion, up from $5.6 billion.
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Egypt the most attractive African market for FDIs with $3.6 bln
In a report issued on Monday, UNCTD unveiled that Egypt has attract FDI flows worth $3.6 billion.
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OECD praises Egypt's inclusive social, economic development
Secretary-General of the Organisation for Economic Co-operation and Development José Ángel Gurría praised Egypt's efforts in inclusive development.
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Egypt Ranks 114 in Doing Business 2020
Egypt climbed up 6 spots to rank at 114th place among 190 economies in ease of doing business. Download the full report here.
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Islamic finance corporation to diversify investment portfolio in Egypt
The International Islamic Trade Finance Corporation says is eager to further its support for Egypt’s economic reform programme.
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Egypt inks deal with Euroclear Bank to upgrade public debt management
Under the signed deal, the government debt instruments will be linked with Euroclear's local currency to help reduce public debt.
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Egypt's PM follows up on measures to launch sovereign wealth fund
The fund is a form of active partnership between the government and private sector which aims at achieving sustainable development objectives.
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Egypt ranks 93rd in Global Competitiveness 2019
Egypt climbed 1 rank in 2019 up from the 94th in this version of the report released annually by the World Economic Forum.
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Egypt discussing possible new IMF cooperation
Egypt is discussing possible further assistance from the IMF to help it carry out structural reforms once its current three-year IMF programme ends.
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Egypt's economy is diversified, receives large amounts of FDIs
Rand Merchant Bank stated that Egypt, SA, and Morocco maintained their positions as the top 3 in 2020 investment attractiveness in Africa.
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Egypt expects several share offerings by end of year
Egypt promised to sell minority stakes in several state companies in late 2018 but postponed the offerings following emerging market turbulence.
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Egypt inflation lowest since 2013
Inflation rates slowed to almost 4.9% annual rate in August. Despite interest rate cuts, Egypt is becoming more attractive for investors.
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Global Telecom Holdings delisted from Egypt's Stock Exchange
Global Telecom Holdings (GTH), which operates Djezzy in Algeria, has been delisted from the Egyptian Stock Exchange.
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Egypt's business community awaits more interest rates' cuts to boost investment
The Central Bank of Egypt (CBE) cut interest rates by 1.5% on Thursday in a long-awaited step.
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Egypt's central bank cuts rates by 150 bps after inflation slows
The overnight lending rate was cut by 150 basis points to 15.25%, the bank said in a statement after a meeting of its monetary policy committee (MPC).
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Egypt prepares for second wave of IPOs
CBE has announced that Banque du Caire will offer a stake of its shares, ranging between 30 and 40 percent.
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Egypt sells 610mn euros in euro-denominated t-bills
The bank sold 695.10 million euros in a similar auction in November with an average yield of 1.75pc.
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DFSA signs an MoU with the Central Bank of Egypt
The collaboration includes, but is not limited to combatting financial crime and conducting consolidated supervision of common firms.
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Egypt economy is doing well with int'l recognition
The progress achieved by Egypt's economy is attributed to the ambitious economic reforms carried out by the government.