Finance News
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Egypt signs OFID's $40 mln small and micro-business loan
The loan will paid over 20 years.
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Egypt to get first tranche of $1.5B Saudi loan ‘soon’
A Saudi delegation will visit Egypt next week.
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CBE stabilises US dollar exchange rate, further confuses market
CBE stabilised the US dollar against the Egyptian pound at EGP 8.78 in its tender on Tuesday. The market is still waiting for any hint of devaluation.
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Egypt’s fiscal position remains unstable
Moody's stated that the current account deficit reached $14.5bn, up from $8.3bn the previous year.
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Egypt repays Qatar final $1 bln in outstanding debt
The governor said that Egypt would also soon repay $800 million owed to the Paris Club nations.
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Egypt bans use of debit cards abroad amid hard currency shortage
Debit cards for accounts in foreign currency can still be used abroad up to a limit of $100,000 as per a 2014 directive, the letter added.
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Egypt’s Beltone Sues Exchange, Regulator Over Canceled Trades
Earlier this month Beltone’s plan to buy Commercial International Bank Egypt’s investment-banking unit failed as regulators held up the deal.
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The battle against currency black market
Prison sentences, fines and revocation of license of the currency exchange bureaus that don't follow official rates.
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Can financial inclusion in Egypt be triggered by payroll cards?
Advocates of the cards say it will provide a large portion of the underbanked Egyptian population with access to banking system and e-commerce.
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Egypt budget deficit widens to 9.8 percent of GDP
Basic commodities also contributed to the budget deficit, which a rise in tax income failed to contain.
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Egypt shuts two currency trading firms over black market dealing
One exchange bureau source said that the central bank has shut down a total of 21 currency trading companies this year.
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NBE raises interest rate by 1% on savings accounts, 0.75% on deposits
Banque Misr may approve a limited increase of the interest rate on short-term savings funds.
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VAT no longer a salve for Egypt’s ailing economy
The advantage to the government is that a VAT encourages businesses to report on one another, making it harder for them to avoid paying taxes.
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Egypt's EFG-Hermes to return $122 million to shareholders
EFG Hermes stepped up its growth strategy after selling a 40 percent stake in Lebanese lender Credit Libanais.
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Egypt reintroduces the 1 pound note
Banknotes Vs. Coins, which is better? which is cheaper? and why is Egypt printing the pound again?
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Cards and Payments Industry in Mexico Market Analysis and Forecast 2016
The Cards and Payments Industry in Mexico: Emerging Trends and Opportunities to 2019
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Cards and Payments Industry in Malaysia Market Size,Share,trends and Forecast 2016
The Cards and Payments Industry in Malaysia: Emerging Trends and Opportunities to 2019
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Cards and Payments Industry in Latvia Market Analysis and Forecast 2016
The Cards and Payments Industry in Latvia: Emerging Trends and Opportunities to 2020
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Fitch affirms Egypt rating at 'B' with stable outlook
Fitch expects general government debt to grow to 90.5 percent of GDP in FY17, on the assumption that the pound will continue to weaken.
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Egypt's Stock Exchange to cut trading hours during Ramadan
The main market's trading will be preceded by a discovery session starting 9:30am.