Finance News
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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.
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Egypt aims to boost annual FX revenue to $300 bln by 2030
Egypt plans to increase its annual foreign currency revenue from exports, tourism, remittances, foreign direct investments (FDIs), the Suez Canal.
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Egypt to shift to flexible dollar exchange rate, aiming for EGP 39.6 by 2028: Cabinet
Egypt is set to adopt a flexible exchange rate policy to adjust the pound’s value against the US dollar to meet a 39.61 rate planned by 2028.
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NBE, Banque Misr expect EGP 500 billion proceeds from new CDs
On Thursday, NBE and Banque Misr announced the issuance of new CDs, offering annual yields of 23.5 percent and 27 percent, respectively.
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Egypt's Cabinet to present document on strategic directions of economy during Sisi's third term for national discussions
The document includes 8 proposed strategic orientations based on the consensus of experts in several key areas and the ambitious national targets.
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IMF Delegation to Visit Egypt Next Month to Conduct further Consultations
Cabinet spokesman Mohamed El-Homsany said that an IMF delegation is visiting the country this month to conduct further consultations.
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NBE, Banque Misr new CDs attract EGP 11 bln in 24 hours
On Thursday, the NBE and Banque Misr announced issuing new CDs with 23.5 percent and 27 percent annual yields, respectively.
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Remittances from Egyptians Abroad Drop 30% to $4.5 Bln
CBE explained in a report issued Friday that remittances from Egyptians working abroad fell to about $4.5 billion during the three months.
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Egypt officially in BRICS: What should we expect?
Egypt’s membership in the BRICS bloc officially came into effect in a landmark move this January, aligning itself with five other new members.
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MID Takseet expands its instalment services with EGP 500m
The company achieved an impressive 338% growth in its business volume in 2023, within just one year of its launch.
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Egypt GDP growth beats 2023 target: Minister
Egypt's economy expanded faster than planned in the fiscal year (FY)22/23, driven by gains in sectors ranging from tourism to infrastructure.
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Egypt’s NIR rises slightly in December 2023
Egypt’s Net International Reserves increased by $47 million to record $35.22 billion in December, its highest level since May 2022.
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NBE, Banque Misr issue new certificates with up to 27% yield
The National Bank of Egypt (NBE) and Banque Misr announced Thursday issuing new certificates of deposits (CDs) with 23.5 percent and 27 percent annual
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IMF mission could visit Cairo in January for new loan time-frame: Cabinet Speaker
A mission from the International Monetary Fund (IMF) would probably visit Cairo in January to finalize a new time frame for the loan agreement.
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Central Bank yet to announce flotation of Egyptian pound: MP
Senate member Ahmed Samir said that the Central Bank of Egypt (CBE) has not officially announced the flotation of the Egyptian pound so far.
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Egyptian economy to recover in 2025: PM
The Egyptian economy is set to fully recover from its current crisis in 2025, Prime Minister Mostafa Madbouly stated in a press conference.