Finance News
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World bank disburses another $1 billion loan to Egypt
World Bank issued the first $1 billion tranche of the loan in 2015 ut of its $3 billion loan programme with the country.
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Foreign holdings of Egypt T-Bills almost triple since January
Overseas holdings of T-bills reached 60.8 billion Egyptian pounds ($3.3 billion) as of March 14.That compares with 22 billion pounds at the end of Jan
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Egypt targets less than 10% deficit in draft budget 2017/18
The decline cites tax revenues from both income and real estate in addition to planned investments as sources of funding.
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Egypt-based EFG-Hermes acquires 51% stake in Pakistani brokerage firm
The firm is keen to expand its brokerage arm by injecting new liquidity. Most experts predict foreign investment to surge ince included MSCI-EM Index.
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Market awaits changes in bank leadership in mid April
Banks will present their recommendations to the CBE’s governor, since the law allows the latter to reject officials.
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Egypt investment minister, UK ambassador sign $150 mln loan agreement
The loan is to help Egypt implement its economic reforms. The declaration was agreed upon by UK Foreign Secretary Boris Johnson & president Sisi.
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Insights of Life Insurance in Global Industry : Development and Forecast 2017-2020
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Germany pledges $500m to support Egyptian economy
The support will come in the form of grants and concessional funds.German investments in Egypt are estimated to be a total €1.5 billion.
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Egypt's five- and 10-year bond yields rise at auction
The average yield on the 10-year bond increased to 16.889 percent from 16.784 percent when it was last sold.
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Egypt's floating pound already a success, billionaire Sawiris says
Samih Sawiris on ound flotation and Egyptian economy in an interview with Reuters.
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Egypt parliamentary committee expects dollar to cost EGP 13 this summer
The Planning and Budget Committee says the country's IMF reforms have begun to pay off, depressing demand for USD and causing its value to drop 5%.
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As pound strengthens, Egypt adjusts customs exchange rate to 16 per dlr
ECB set the initial rate at 18.5 pounds to the dollar, in line with the interbank rate at the time.
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Egypt to set schedule for repaying oil companies soon
Egypt's arrears owed to foreign oil companies stood at $3.5 billion at the end of December, down from $3.6 billion in September.
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Egypt's foreign reserves climb to $26.3 bln in January
Tarek Amer said that Egypt received a total of $4 billion in yields from Eurobonds issued on the global bond market last week.
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IMF support boosts investor confidence in Egypt
More details have emerged regarding Egypt’s ambitious programme of economic reform.
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Egypt considering temporary stamp duty on stock market deals
The IMF agreement revealed that Egypt had committed to imposing either a capital gains tax or a stamp duty on stock market transactions by 2017/18.
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IMF to release staff report on Egypt's $12 bln loan agreement
The IMF deal was approved by the cabinet on 11 January, but is yet to be approved by parliament.
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Egypt’s economy to grow 3.9% in 2016-17, missing government target
The poll predicts economic growth will slow in the fiscal year starting in July to 3.5% but pick up again in 2018/19 to reach 4.0%.
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Net foreign exchange reserves increase to $24.265bn
This means that the CBE has neared its target of foreign exchange reserves estimated at $25bn.