Finance News
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Egypt inflation has peaked, governor says
"We’ve been aggressive in our monetary policy and this has been resisted a bit. But it’s important so we can get our shop fixed very quickly"Amer said
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Egypt plans to plug budget gaps with more foreign debt
Egypt will issue a 1.5 billion euro (USD 1.8 bln) bond by the end of November and another USD 10 billion in Eurobonds next year.
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US dollar exchange rates witness slight decline
A recent report by CNN Arabia revealed that prices of the US dollar are likely to surge to LE 19 by 2018 and EGP 20 by 2019.
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Egypt's net FDI rises 14.5 pct in 2016-2017
FDI rose to $7.9 billion in the 2016-2017 fiscal year that ended on June 30.This is well below Egypt’s target of $10 billion.
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Remittances from expatriate Egyptians at $14.5 bln since currency float
Remittances for the month of July rose to $1.8 billion compared with $1.2 billion during July last year.
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Egypt's new stock exchange chief wants to invigorate markets in 6 months
Mohamed Farid said that the main reform would be reducing trading halt times to 15 minutes, down from 30.
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Egypt's annual urban inflation eases to 31.9% in August
Egypt’s annual urban rate of inflation dipped slightly in August, dropping to 31.9 percent from 33 percent in July.
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Egypt clears multibillion-dollar backlog as FX crisis fades
Egypt has cleared a multibillion-dollar backlog of foreign-currency requests from importers and foreign companies.
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Egypt's non-oil business activity contraction slows slightly
Non-oil private sector business activity shrank in August at the slowest pace since July last year amid a decline in new orders and a jump in exports
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Egypt's M2 money supply up 38.74 pct year-on-year in July
Money supply stood at EGP 2.94 trillion, the central bank said.
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U.S. to withhold up to $290 million in Egypt aid
The United States has decided to deny Egypt $95.7 million in aid and to delay a further $195 million because of its human rights record.
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Egypt to hold treasury bill auctions before Eid holiday, bonds after
Egypt will hold several treasury bill sales on Wednesday, replacing auctions originally scheduled during the coming Eid holiday.
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Trump Administration Cuts Military Aid To Egypt
This week the administration surprisingly cut some military aid over Egypt's worsening human rights record.
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Egypt's budget deficit drops to 10.9 percent in 2016/17
Egypt's budget deficit for the fiscal year 2016/17 stood at 10.9 percent as opposed to 12.5 percent the year before.
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Top-performing Arab economy balks at currency float on Egypt
Moroccans afraid of Egypt's scenario of devaluation, start buying dollars and euros.
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USD bank exchange rate below LE18, stable
The US dollar is being sold at LE17.87 and bought at LE17.77 at the National Bank of Egypt (NBE) and Banque du Caire.
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Egypt reserves reach record high of over USD 36 billion
The increase is equal to the reserves in 2010 and this figure is 4.7 billion dollars higher compared to the previous month.
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Egypt to lower customs exchange rate to 16.25 pounds/dollar
The new rate will be set for one month effective from Tuesday.
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Egypt’s stock market gains EGP 4.7 bln
This was due to gains supported by foreign investors buying operations، and by Egyptian and Arab investors tended towards selling operations.
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Egypt investment bank gets brokerage licence
EFG-Hermes has been licensed to operate a stockbroker unit in Kenya with an eye on an investment bank permit.