Finance News
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Average yields on Egypt's five- and 10-year T-bonds rise
The average yield on the five-year bonds rose to 18.934 on Monday from 18.349 at the last similar auction on June 19.
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US dollar exchange rate surpasses LE18
The rates at the National Bank of Egypt (NBE) are LE17.82 for purchase and LE17.92 for sale.
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IMF chief praises Egypt's measures on economic reforms
The head of the International Monetary Fund has praised Egypt's reform measures, saying they will set the country on "a path of stability."
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Egypt Economy to recover in 2018 with expected inflation hikes
A gradual recovery in the economy is expected in 2018, with 2017 being difficult but paving the way for a better year: Arqaam Capital.
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Egypt’s economy shows signs of vigour: BNP Paribas
Inflation isn’t the only reason behind the soaring inflation,the increase in the prices of semi-finished goods and commodities is also to blame.
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Bond market offering 21% yields finally turns Egypt into a buy
The Egyptian Treasury bill market attracted more than $9 billion since the central bank allowed the currency to trade more freely in November.
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Egypt selects CI Capital-led group to lead IPO of ENPPI
The chosen consortium includes Jefferies International Limited and Emirates NBD Capital Limited.
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Egypt’s foreign reserves continue to rise registering $31.3 bln in June
Egypt's foreign reserves continued to climb registering $31.305 billion at the end of June and edging closer to pre-2011 levels of $36 billion.
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US dollar exchange rate’s decline continues for third consecutive day
The purchasing rate at National Bank of Egypt reached LE17.84, while the selling rate reached LE17.94.
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Are Egypt’s IMF-imposed reforms working for people?
With the increasing strain on the people, more are wondering whether IMF straitjacket is too restrictive for Egypt’s ordinary citizens.
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Investment Should Be The Growth-Driver For Egypt’s Economy
Egypt’s economic structure is changing in the face a number of challenges. Private consumption is slowing and unemployment is dropping among others.
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Egypt seeks FDI boost as its economy struggles
The government is hoping a $12bn International Monetary Fund lending programme signed last year will put it on the road to recovery.
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Egypt ranks 4th among African countries in FDI during 2016
Foreign direct investment is one of Egypt's primary sources of foreign currency, along with Suez Canal revenues and the tourism industry.
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Egypt central bank removes foreign currency transfer limit
The central bank statement did not comment on the status of the $50,000 deposit cap for some importers.
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Factors to watch in Egypt’s stock market in week ahead
Egypt’s stock market starts trading on 11 June, with some companies holding their ordinary general meeting to discuss their financials for 2017 Q1.
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Egypt keeps customs exchange rate at 16.5 pounds/dlr in June
The exchange rate in Egyptian banks is around 18.12 pounds per dollar.
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Egypt cabinet approves raising minimum income tax threshold to LE 7,200
The amount is up from EGP 6,500 but the decision has yet to be approved by parliament.
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Egypt’s Cabinet approves $2.48 billion social aid program
The government plans to spend EGP45bn on income tax discounts, bonuses for public employees, increased pension payments and cash subsidies.
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Egypt's economy trapped in vicious cycle of IMF debts
Egypt expecting a new rise of prices due to the IMF loan requirements, while the country has not yet recovered from previous economic decisions.
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Banks offering e-services have best retail banking
CIB) topped the Business News index for best retail bank for the 2nd year in a row followed by NBE that has the most widespread ATMs.