Finance News
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Egypt- Government increases borrowing from domestic market to highest level ever during Q2 2017/18
The country suffers from a deficit in the general budget estimated at EGP 379.6bn during the fiscal year (FY) 2016/2017:Minister of Finance.
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Egypt issues EGP 13.25 billion in treasury bills
Egypt's finance ministry said a 91-day-term treasury bill was issued worth EGP 6.5 billion with an average yield of 18.984% from 19.001%.
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Egypt’s inflation dips in September
The central bank raised its key interest rates by 200 basis points in July, seeking to ease the inflationary pressure, but has kept them since.
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Yields rise on Egypt’s five- and 10-year T-bonds
Egypt has raised interest rates by 700 basis points since the float.
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Financial Cards and Payments in Latin America Market Insights and Forecast
Orbis Research has added Latest Research Report on "Financial Cards and Payments in Latin America" to its Database.
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Egypt to raise banks’ reserve requirement as it battles soaring inflation
The reserve ratio, used to control money supply, will increase to 14 percent from 10 percent from Oct. 10.
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Foreign exchange reserves up by $392m at end of September
The foreign exchange reserves increased by more than $21bn over the past 14 months, where it stood at about $15.5bn in July 2016.
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Egypt's central bank increases reserve requirement on deposits to 14%
The new ratio is effective starting on 10 October, the bank said in a statement.
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Egypt considers bond sale delay as it eyes market conditions
Egypt may delay a planned sale of 1.5 billion in euro-denominated bonds to early 2018.
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Egypt to keep customs exchange rate at 16 pounds in October
The pound has gradually strengthened in recent weeks to about 17.71 to the dollar, up from about 17.75 last month.
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Major European investment funds to inject cash in Egypt as economy recovers
Minster of Finance Amr El-Garhy meets with investors to discuss further opportunities.
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Egypt: The Economy Is Gathering Strength
The first review of Egypt’s economic reform program from IMF is out and it carries good news.
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EIB to loan Egypt's Banque Misr $500 mln to fund SMEs
According to EIB, a total 890 million euros were slated for Egypt in 2016 under the EIB’s commitment to Mediterranean partner countries.
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Egypt's Suez Canal revenues jump to $470.6 million in August
In August, 1,528 ships passed through the Egyptian waterway compared to 1,462 in the same month last year.
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Average yields fall on Egypt’s six-month, one year T-bills
Yields on the 182-day bill dropped to 18.434% from 19.110% at the last sale. Yields on the 357-day bill fell to 17.868% from 18.7%.
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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.