Finance News
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Emirati giants ADQ signed a multi-year sponsorship agreement with Egyptian football club Pyramids FC
UAE’s investment company ADQ signed a multi-year sponsorship agreement with Egyptian club Pyramids FC, according to a statement on Thursday.
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10 things you need to know about 'frozen dollars' in Egypt
These frozen dollars are being sold at a jaw-dropping 50% below the parallel market rate, raising questions about their authenticity and legality.
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CBE delays charging transfer fees on InstaPay
Earlier this year, the CBE had previously mentioned that it would impose fees on transactions made via the app in early 2024.
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Egyptian Economy Grows 3.8% Despite Russian-Ukrainian Crisis
Prime Minister Dr. Mustafa Madbouly chaired a meeting of the economic ministerial group this evening to discuss and monitor several economic files.
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Beware of 'frozen dollar' notes in Egyptian parallel market
If you deal in the currency parallel market, you should beware of frozen dollar notes, which are invalid currency with deactivated serial numbers.
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Egypt amends private equity firms regulations to streamline operations
Egyptian Prime Minister Mostafa Madbouly issued a decree amending the Minister of Investment Decree No. 113 of 2018 regulating private equity firms.
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Beltone and Dutch fund sign deal to support low-income projects in Egypt
Beltone Financial Holding's subsidiary Cash for Microfinance signed an EGP 60 million agreement with the Dutch Challenge Fund for Youth Employment.
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FRA reports EGP 192.2bn in total financing for Q3 2023
According to the reports, the value of stock issuances was EGP 92.7bn, representing 48.2% of the total financing.
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Infograph: Egyptian expats' remittances to drop 15% in 2023
Egyptian expats’ remittances are expected to have declined by over 15 percent to $24.2 billion in 2023 from $28.3 billion in 2022.
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EU Mobilizes €9 Bln in Investments to Support Egypt's Economic Development
The EU ambassador said that the economic support program for Egypt to confront the economic challenges facing Egypt as a result of the migration.
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Egypt Post suspends foreign currency transactions through EasyPay cards
Egypt Post has suspended foreign currency withdrawals and purchases through EasyPay cards, according to SMSs sent to clients’ mobile numbers.
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Egypt's private sector to drive country’s economic recovery in 2024: Finance minister
Egypt's private sector is poised to drive economic recovery and foster growth in the country throughout 2024.
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Dollar prices stable at major Egyptian banks
At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered LE 30.75 for buying and LE 30.85 for selling.
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Egypt targets debt-to-GDP ratio to drop to 75% by 2027, Finance Minister
The finance minister expects that the Egyptian economy will have positive growth in the upcoming fiscal year.
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Funding for Egyptian microenterprises skyrockets 1,123% in 6.5 years
Financing offered to Egyptian microenterprises surged by more than 1,123%, reaching EGP 78.3 billion in June 2023 from just EGP 6.4 billion.
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Kredit launches to finance SMEs in Egypt
Kredit is part of GB Capital’s strategy to promote financial inclusion and support the growth of SMEs in Egypt.
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Egyptian T-Vencubator Fund launches to support technology startups
T-Vencubator, an Egyptian tech startups incubator and venture capital company, announced starting its operations in Egypt.
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Egyptian Banks Suspend Use of New Credit Cards Abroad for 6 Months
This helps to stop the misuse that has been monitored on foreign currency transactions abroad and at home through credit cards.
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CBE Grants Banks 6 Months Deadline to Update Controls on Money Laundering, Terrorsim Financing
The circular explained that these updated controls came with reference to the supervisory controls for banks regarding combating money laundering.
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Egypt inks $460.4M financing deals with Korea's Eximbank, IsDB
The main objective of these agreements, as outlined in the MoIC report, is to support Egypt's efforts to achieve comprehensive and sustainable growth.