Finance News
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Why is Egypt the 2nd largest economy in Africa?
Economists argue it's because the South African economy is not doing so well.
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AfDB current portfolio with Egypt’s SFD hits $225 million
Soliman:we are negotiating the bank over another loan worth $200 million to finance Egyptian infrastructure projects
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Egypt's urban consumer inflation hits 10.3 pct in April
Inflationary pressure resurged when the central bank devalued the pound in March by about 13 percent.
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Egypt’s Foreign Exchange Reserves Increased By $450m In April
This increase came as a result of the increase in foreign currencies balances by $406m, recording $13.237bn compared to $12.829bn in March.
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Egypt’s foreign exchange reserves gain $450m in April
It explained in a statement on its website that the reserves increased to $17.011bn in April, compared to approximately $16.561bn in March.
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Egypt gets €300m EBRD funding to support SMEs
The European bank official made these remarks during a symposium organised in Fayoum, southwest of Cairo.
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Egypt's Central Bank keeps key interest rates unchanged
Annual urban consumer inflation eased for the third consecutive month in March to 9 percent from 9.1 percent in February.
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Egypt's central bank sells $118.7 million at Tuesday auction
Egypt's public prosecutor is investigating several bureaus accused by the central bank of hoarding dollars.
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UAE to support Egypt’s foreign exchange reserves with $2bn funding
The CBE announced that the balance of the foreign exchange reserves increased to $16.561bn in March, and is expected to increase to about $18.5bn.
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Egypt Chamber of Commerce delegation starts annual 'Door Knock' in Washington
The delegation aims to meet officials and policy makers from the International Monetary Fund, the World Bank, and the US State Department among others
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Egypt’s economy to grow just 3.5 per cent in 2016/17
analysts predicted that Egyptian pound would weaken in the coming financial year, reaching 9 pounds to the dollar in 2016/17 and 9.5 the year after.
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Egypt gets German mediation offer and French cash
The deals and offers were extended by French President Francois Hollande and German Energy and Economy Minister Sigmar Gabriel who are visiting Egypt.
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Sawiris-CI Capital undergoes exceptional examination by EFSA
The examination of the current deal is more accurate than that of Beltone's deal, led to discovering previous violation, says EFSA chairperson.
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IMF projects decrease in Egypt’s inflation rate in 2016 and 2017
Credit rating agency Fitch projected last month an increase in inflation levels in Egypt, given the weaker exchange rate.
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Egypt’s cash transfer programme reaches half-a-million beneficiaries
The programs aim to reach 1.5 million poor families in a country where the poverty rate is above 26 percent.
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Egypt to hold investments talk with World Bank
Nasr will also be leading an Egyptian delegation to Washington that will discuss financial solutions to Egypt’s challenges.
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Egypt's financial regulator issues rules for covered bonds
More corporate issuance would give companies an important channel to raise funds for investment.
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Egypt's foreign currency reserves slightly up in March
The central bank will repay $800 million to the Paris Club and the remaining $1 billion it owes to Qatar next July.
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Army’s control on market does not affect businessmen
Naguib Sawiris has supported the economic role played by the army, yet expressed concerns that this could affect its main role in defense.
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NBK-Egypt posts $64m net profit, up 53pc
The net loans and advances reached EGP13.8 billion at year-end 2015, up 37.4 per cent compared to the previous year.