Finance News
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EGP 2.8bn in urgent funds to improve public services
Ministry of Finance dedicates EGP 74.1m for operation of non-economic railway lines and student subscriptions.
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Egypt's CBE approves CIB's acquiring of Citibank
The deal includes Citibank's retail portfolio and credit card businesses.
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Egyptian stock market recovers on Tuesday
Recovery parallels US and European stocks’ upturn. The EGX-100, EGX-70 and EGX-20 have increased by 1.21%, 1.61% and 2.71% respectively.
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Egypt's president ratifies amendments lowering income tax ceiling
The amendments also exempt more people from income tax.
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Egypt to impose value added tax in 'weeks'
The long-awaited value added tax law will soon be submitted to the cabinet, says Egypt's finance minister.
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Egypt's market hits 20-month low, loses $2 bn
The EGX market capital lost LE15.46 billion (US$2 billion) on Sunday, hitting LE428.61 billion, compared to LE444.07 billion on Thursday.
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Egypt's Juhayna chairman barred from trading on Cairo bourse
A committee formed by the government issued a ruling to freeze the assets of Safwan Thabet due to alleged links to the banned Muslim Brotherhood.
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Kuwait's Al Ahli gets Egypt regulatory nod to buy Piraeus unit
Kuwait's Al Ahli Bank received approval from the Egyptian Financial Supervisory Authority to acquire a controlling stake in Piraeus Bank's Egypt unit.
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Egypt's market continues to fall, hits lowest record in a year
Market bellwether, Commercial International Bank (CIB), dipped 3.16 percent to LE48.58 per share.
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CIB seeks to attract Vodafone, Etisalat to Automated Clearing House service
CIB-Egypt serves ACH-Credit clients operating in 16 fields, including oil, telecommunications, e-marketing, cement, universities, electricity...etc.
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Egypt's stock market plunges to lowest point in year and a half
The Egyptian stock market dropped on Tuesday, making the third retreat in a row, with the benchmark index EGX 30 dropping by 2.58 percent.
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Egypt's Stock Market Dives After Juhayna Chairman's Asset Confiscation
Thabet's assets were confiscated and his shares in companies listed in the stock exchange were frozen, including Juhayna's.
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28% of Egyptian youth live in poverty
The unemployment rate among the 18-29 age group, this age group is 20.7 million people, which is 23.6 percent of the total population.
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Egypt's EFG Hermes reports Q2 profit of $22.67 million
The company reported net revenue of 630.952 million pounds for the quarter versus 762.089 million pounds in the same period last year.
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Egypt's Beltone joins NASDAQ Dubai as market maker
Beltone Market Maker a subsidiary of Egypt-based financial services company Beltone Financial joined NASDAQ Dubai to provide market-making service.
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Egypt's market gains LE660 mn on Monday, EGX30 inches up 0.22%
The EGX market capital gains LE660 million (US$85 million), hitting LE490.20 billion, compared to LE489.54 billion on Sunday.
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MasterCard, Visa authorize E-Finance as a global issuance centre
A step towards the implementation of international projects for banks and global institutions through an Egyptian entity.
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14 direct benefits for Egyptian economy due to Suez Canal projects
Banks should exert more effort to support development instead of focusing on financing budget deficit, says Ezz El-Din Hassanin.
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Global Industrial Diamond Industry 2015 Market Research Report
The report gives a detailed overview of the key segments in the market.
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Egypt foreign reserves drop most since 2013 on debt payment
Egypt’s foreign reserves declined at the fastest pace in more than two years after repaying debt and funding a widening trade deficit.