Finance News
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UNB-Egypt aims to acquire 5% of Egyptian banking market in 10 years
UNB supports Emirati investors in Egypt, and issued letters of guarantee worth $150m for the National Drilling Company to dig the New Suez Canal.
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Egypt highest recipient of French aid
Demian made the remarks after a meeting with his French counterpart Michael Sapin in Paris.
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Supply Minister explains president's initiative to control market prices
The government aims to reduce prices by 30 percent by reducing the number of intermediary traders.
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Egypt economy improving, but large financing needs still challenge
Moody’s described the government’s track record of implementing revenue-enhancing measures, such as the introduction of new taxes, as being “mixed".
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Egypt's non-oil private activity contracted in October,PMI hits 8-month low
Egypt's main stock index inched down by 0.02 percent to close at 7,433 points on Tuesday after rising early in the trading session.
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High economic growth rates in Egypt benefit insurance market
Moody’s MENA analyst states that Egypt is the second largest insurance market in the MENA region.
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CB holds pound steady at 7.93 per $1
CBE has given permission to trade dollars up to 0.10 EGP and 0.15 EGP above or below the official rate at banks and exchange bureaus.
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Doing Business 2016: Measuring regulatory quality and efficiency
The World Bank issues its 13th edition of the Doing Business report. Egypt dropped 19 spots in the report but was the best performing in MENA.
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Individuals pay for government’s ambition through taxes
Around 25% of budget revenues are from sales taxes, indirectly obtained through taxes on cigarettes, fuel and petroleum products, telecom, hotels..etc
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Economists divided on Central Bank of Egypt's next interest rate decision
Five economists talked to by Ahram Online differ on the CBE's next step regarding its key policy interest rate.
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Egypt's economic woes persist beyond monetary measures
Despite that Egypt's official reserves stand at around $16 bn, little is owned by the government, pointing to the depth of ongoing economic problems.
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Egypt's Suez Canal revenues fall in September
Economists and shippers said increased traffic and revenues the government promised would require acceleration in global trade that seems unlikely.
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Egypt is second biggest insurance market in North Africa
Global rating agency Moody's said Egypt comes second place after Morocco, the biggest insurance market in North Africa.
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Meet Tarek Amer the new CBE governor
Amer's appointment was welcomed by economists and traders as a positive step on the road to reform for his economic and administrative expertise.
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Application of sustainability enables Egypt’s economy to attract $20bn
Omran says conference is not luxury but rather means to think outside the box, since waiting for market challenges to end is not an option.
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World Bank, AfDB reaffirm commitment to boost Egypt economy
World Bank and African Development Bank delegation met Prime Minister Ismail to reaffirm commitment to cooperate in reviving the country's economy.
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Egypt's new central bank head seen as a win for big business
Predecessor Hisham Ramez reportedly faced increasing criticism for his reluctance to devalue the Egyptian pound.
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CBE to bid over $933m in treasury bills
The government intends to raise EGP281.5 billion in treasury bills and bonds during the second quarter of fiscal year 2015/2016.
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Can Egypt’s new central bank chief calm currency crisis?
The central bank faced increased pressure to devalue as the black market burgeoned, offering a lifeline to businesses unable to access enough dollars
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End gag on foreign businesses, Egypt’s CB told
The union sent to Al-Sisi a memorandum highlighting the problems facing industry, trade and investment resulting from monetary policies.