Finance News
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Trump Halts Nearly All Foreign Aid, Except Food Aid, Israel and Egypt Military Support
The memo orders a halt on new foreign aid commitments and the extension of existing programmes until they undergo case-by-case review.
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Is Egypt's tax digitalization the key to a modern economy?
Under the leadership of Rasha Abdel Aal, the ETA has made significant strides in integrating advanced digital tools into its operations.
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FRA forms advisory group to strengthen Egypt's voluntary carbon market
The formation of this advisory group follows the FRA’s successful launch of Egypt and Africa’s first voluntary carbon market in August 2024.
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New e-system and measures for investor and tax issues to go live in February
Special measures will soon be introduced to address and resolve all outstanding tax issues and disputes up until 2020.
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Egypt's economy expected to grow by 4% on IMF reforms
The median forecast in the Jan. 9-20 poll of 19 economists predicted gross domestic product (GDP) growth would then accelerate to 4.7% in 2025/26.
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Egypt secures largest EBRD investment with €1.5 bln for 7th consecutive year
The European Union pledged a 7.4 billion euro ($8.1 billion) aid and investment package for Egypt in March 2024.
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Visa Brings Apple Pay to its Customers in Egypt
To pay in-store, customers simply double-click the side button and hold their iPhone or Apple Watch near a payment terminal to pay contactlessly.
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Egypt gets $231m loan from Japan to back private sector
The minister said Egypt implemented 86 reforms in 2024 to improve economic resilience and safeguard against future shocks.
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Egypt to approve simplified tax system for SMEs, entrepreneurs, and professionals soon
Kouchouk emphasized that the VAT refund system will be simplified, and refund amounts will be doubled.
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Egypt's BOP records $991.2 mln deficit in Q1 of FY24/25
Egypt’s Balance of Payments (BOP) recorded an overall deficit of $991.2 million in the first quarter (Q1) of the Fiscal Year (FY) 2024/2025.
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Egypt initiates talks with EU, int'l partners on Macro-Financial Assistance 2nd phase
Egypt has initiated talks with the European Union and international partners on the second phase of the Macro-Financial Assistance mechanism.
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LE14.5B worth of foreign funding disbursed to NGOs in Egypt in 2024
The ministry underlined that merely 0.3 percent of grants got rejected, mostly because of not submitting the necessary documents.
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Egypt’s remittance inflows jump 45.3% during first 10M of 2024
Hassan El-Khatib, Minister of Investment and Foreign Trade, highlighted the vital contribution of Egyptians working abroad to the country's economy.
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Egypt’s annual headline inflation decrease to 23.4%, core inflation to 23.2%
Data from the Central Bank of Egypt (CBE) showed that the monthly core inflation rate was 0.9 percent in December 2024.
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El-Sisi approves 50% increase in Egypt’s share of IMF
The law specifies that the increase in Egypt's contribution to the IMF comes with a reservation.
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Egypt set target to reduce external debt by $2B annually
Looking ahead, the minister expressed optimism about a significant decline in inflation rates and financing costs in 2025.
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US shifts $95 million in military aid from Egypt to Lebanon
A US State Department document has revealed that the Biden administration will divert $95 million in military aid allocated to Egypt to Lebanon.
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Egypt Net International Reserves hits record $47.1 bln in December 2024
The rise continued a steady trend for NIRs in recent months, increasing from $46.94 billion in October to $46.95 billion by the end of November.
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Egypt allows 15-year-old citizens to invest in EGX
The Financial Regulatory Authority (FRA) has approved a new measure allowing youths aged 15, instead of the previous 16-21, to trade.
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Egypt to receive $1.2 bln from IMF in January
Egypt is set to receive a $1.2 billion disbursement from the International Monetary Fund (IMF) in January as part of its $8 billion programme.