Finance News
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International organisations forecast positive expectations for Egypt’s economy
IMF increases growth in Egypt to projected 5.2% this year.
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Egyptian economy to experience near-term growth: UN official
The implementation of the recent economic reforms in Egypt will subsequently promote development, reduce poverty and unemployment rates.
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Egypt to meet investors this week ahead of euro-denominated bond
Egypt has already raised $4 billion through a triple-tranche bond in February.
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Egypt's net foreign reserves rise to $42.611 bln
In February, Egypt raised $4 billion in a dollar-denominated Eurobond sale to help plug its financing deficit and boost dollar holdings.
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UNB-E eyes 5% market share in Egypt within 8 years
Al Nahyan explained that the bank aims to expand its branch network to 48 branches, along with increasing ATMs to 125 machines by the end of 2018.
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Market Capitalization gains LE 149.3B during Q1 of 2018c
In March, market capitalization gained LE 81.89 billion, ending the month at LE 974.18 billion.
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EGX’s chairman calls firms to diversify finance
Farid explained that the stock market is a strategic financing platform for direct investment companies in a sustainable manner.
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Egypt’s central bank expected to cut rates for second time
Nine out of 11 economists polled by Reuters said the bank on Thursday will cut the deposit and lending rates.
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Egypt to issue next Eurobonds on Luxembourg stock exchange in April
This came as a response to the requests of the investment banks during the latest Eurobond issuance.
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Business Incubators... Tasks to do, targets to achieve
A business incubator is a facility which provides new and startup projects and companies with affordable space, training and financing.
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Egypt economy stablises under Sisi but prices remain to be tamed
Sisi inherited an economy in tatters when he took over the presidency in 2014, requiring aggressive reforms that have largely stopped the rot.
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Oxford Group expects bright outlook for Egypt’s economy
Efforts to garner economic stability are gathering momentum, with reductions forecast in both inflation and the budget deficit.
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Egypt set to float stakes in 23 state companies
The government had said that it intended to sell shares in dozens of state companies to boost public finances and draw more investors to the exchange.
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Egypt and UN sign Development agreement
The main objective of the agreement is to support the Egyptian government in its quest to achieve national development.
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Egypt picks four banks for Eurobond issuance set for April
Egypt previously raised $4 billion in a three-times oversubscribed bond issuance in February.
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Egypt to issue new securities on the financial market
This operation to raise between €1 billion and €1.15 billion should be launched before the 2018-2019 fiscal year.
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Banque Misr achieves highest profits in its history
The bank’s retail portfolio reached LE 18.1 billion in June 2017 versus LE 14.5 billion in June 2016 with 24.8 percent growth rate.
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Akinwumi Adesina, President, African Development Bank (AfDB): Interview
Governments need to work closely with the private sector to close African infrastructure gaps.
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Egypt's EFG Hermes weighs hiring more bankers for Saudi deals
EFG Hermes is considering adding 20 percent more staff as one of the region's biggest investment banks expects an improved deals outlook in KSA.
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Egypt's ministry of Finance dismisses reports of exchange rate EGP 17.5 to 1 USD
Reuters had quoted three senior officials as saying the Egyptian government set the exchange rate at EGP 17.5 to the USD in the budget of 2018/2019.