Finance News
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IMF: Expansion of War "Biggest Threat" to MENA Economies in 2024
"The other risk lies in the uncertainty that other countries in the region will face, which may affect investment."
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MSMEDA, Aman sign LE 160M financing contracts for micro-enterprises
The first agreement, valued at LE 100 million, will provide funding for micro projects across all governorates.
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Egyptian remittances drop 29.2% in Q1 FY2023/2024
Remittances from Egyptians working abroad dropped 29.22 percent to $4.52 billion in the first quarter of the fiscal year 2023/2024.
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Egypt targets $12 bln in FDI inflows in FY2023/24: GAFI chairman
Egypt has set a target of attracting $12 billion in foreign direct investments (FDIs) during the fiscal year (FY) 2023/2024, which ends in June.
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IMF: High Interest Rates Impose Pressure on Banks in MENA Region
This environment could lead to tightening financial conditions, stirring a wave of credit pressure, and reducing the available funding.
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Government's electronic payment yields Reach LE8.1T in 53 months
The Finance Ministry's statement clarified that the growth rate of electronic payment services for state employees reached 12 percent.
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Will Inflation Decline in Egypt during 2024?
The annual core inflation rate in Egypt slowed last November to 35.9%, compared to 38.1% in October 2023.
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Get to Know Egyptian Pound Value against BRICS Currencies in 2024
In the following report, we present the price of the Egyptian pound against the most important currencies of the BRICS countries.
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Debt interest increases Egypt's budget deficit to LE 652.6B within 4 months
The budget deficit percentage of the gross domestic product (GDP) rose to 5.51 percent, compared to 3.37 percent last year.
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Egypt commits to enhancing wage levels in 2024
The Egyptian government is set to continue improving wage levels in 2024 to alleviate the financial burdens faced by citizens since COVID.
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Public sector operations surge to LE59.4B in a year
The total value of operations conducted by public sector companies reached LE 59.4 billion in the fiscal year 2021/2022.
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Egyptian bourse registers biggest annual gain since 2016
Egypt's blue-chip index (.EGX30) advanced 0.8%, extending its 2023 gains to a 70.5%.
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Central Bank of Egypt to soon allow ATM withdrawls for InstaPay users
The decisions also included exemption from all expenses and commissions related to transfer services for customers of InstaPay.
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Ethiopia, Egypt, And Three Others To Join BRICS On January 1, 2024
Originally consisting of Brazil, Russia, India, China, and South Africa, BRICS extended invitations to six additional countries in August.
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T-Vencubator launches operations to invest in local startups
Egyptian tech-focused Venture Capital (VC) firm T-Vencubator, has launched operations with the aim to support the growth of local startups in Egypt.
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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.