Finance News
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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.
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Egyptian banks to close on Sunday for Christmas
Egyptian banks will be closed on Sunday, 7 January, in celebration of Christmas for the Orthodox Church, according to a statement by the Central Bank.
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Government plans to borrow EGP 1.647trn from local market in Q3 2023/24
The money will be used to pay previous maturities for debt instruments and finance the state’s general budget deficit.
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Egyptian banks to repay over EGP 500 bln CDs in January: Where will they go?
The National Bank of Egypt (NBE) and Banque Misr are set to repay more than EGP 500 billion in principal and interest of 22.5 percent and 25 percent.
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IMF: Expansion of War "Biggest Threat" to MENA Economies in 2024
"The other risk lies in the uncertainty that other countries in the region will face, which may affect investment."
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MSMEDA, Aman sign LE 160M financing contracts for micro-enterprises
The first agreement, valued at LE 100 million, will provide funding for micro projects across all governorates.
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Egyptian remittances drop 29.2% in Q1 FY2023/2024
Remittances from Egyptians working abroad dropped 29.22 percent to $4.52 billion in the first quarter of the fiscal year 2023/2024.
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Egypt targets $12 bln in FDI inflows in FY2023/24: GAFI chairman
Egypt has set a target of attracting $12 billion in foreign direct investments (FDIs) during the fiscal year (FY) 2023/2024, which ends in June.
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IMF: High Interest Rates Impose Pressure on Banks in MENA Region
This environment could lead to tightening financial conditions, stirring a wave of credit pressure, and reducing the available funding.
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Government's electronic payment yields Reach LE8.1T in 53 months
The Finance Ministry's statement clarified that the growth rate of electronic payment services for state employees reached 12 percent.
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Will Inflation Decline in Egypt during 2024?
The annual core inflation rate in Egypt slowed last November to 35.9%, compared to 38.1% in October 2023.
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Get to Know Egyptian Pound Value against BRICS Currencies in 2024
In the following report, we present the price of the Egyptian pound against the most important currencies of the BRICS countries.
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Debt interest increases Egypt's budget deficit to LE 652.6B within 4 months
The budget deficit percentage of the gross domestic product (GDP) rose to 5.51 percent, compared to 3.37 percent last year.
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Egypt commits to enhancing wage levels in 2024
The Egyptian government is set to continue improving wage levels in 2024 to alleviate the financial burdens faced by citizens since COVID.
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Public sector operations surge to LE59.4B in a year
The total value of operations conducted by public sector companies reached LE 59.4 billion in the fiscal year 2021/2022.
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Egyptian bourse registers biggest annual gain since 2016
Egypt's blue-chip index (.EGX30) advanced 0.8%, extending its 2023 gains to a 70.5%.
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Central Bank of Egypt to soon allow ATM withdrawls for InstaPay users
The decisions also included exemption from all expenses and commissions related to transfer services for customers of InstaPay.
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Ethiopia, Egypt, And Three Others To Join BRICS On January 1, 2024
Originally consisting of Brazil, Russia, India, China, and South Africa, BRICS extended invitations to six additional countries in August.
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T-Vencubator launches operations to invest in local startups
Egyptian tech-focused Venture Capital (VC) firm T-Vencubator, has launched operations with the aim to support the growth of local startups in Egypt.