Finance News
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AAIB expands ATM service in Egypt
The action, which came under AAIB’s customer delight initiative, has brought the bank’s total number of ATMs to 286 across Egypt.
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IMF cuts Egypt's growth forecast citing concerns on tourism revenues
The IMF says it has revised its projection for Egypt's growth as a result of security concerns but still sees positive economic reform.
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Egypt's Cabinet to approve investment law in 2 weeks: Minister
The World Bank has already approved a $5 million aid package to Egypt to implement the new system and to establish an updated investment database.
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Egypt's Suez Canal revenues rise 6.3% in September Y-O-Y
Suez Canal revenues are up year-on-year but have dipped 8% since August.
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Lew urges Egypt to push forth with reforms to stabilize economy
U.S. Treasury Secretary Jacob J. Lew urged Egypt to persist with economic and political changes that could attract private investment.
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Kuwait's $1bn aid to Egypt unconfirmed, says finance minister
Egypt's press says Kuwait gave $1 billion in aid - but finance minister won't confirm.
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Egypt's cabinet to approve investment law in two weeks: Minister
Minister Ashraf Salman says a new law on investment will soon be approved by the cabinet, ahead of an economic summit in February.
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Alex Bank Plans EGP 400mn Investments into Egypt Market
The lender unveiled its plan to inject fresh investments worth EGP 400 million into the local market in the next four years.
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Egypt regulator pins bond market hopes on central bank
Encouraging trade in bonds is a key part of the Egyptian Financial Supervisory Authority's (EFSA) plan to repair the capital markets.
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Egypt's Beltone Financial to spend $42 million expanding next year
Beltone considers new investments as the Egyptian economy stabilizes.
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Egypt targets budget deficit of 8% by 5 years: Finance minister
Restructuring of energy subsidies will push down budget deficit, while tax and subsidy reforms will help lower public debt, says minister.
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Egypt banks slowing government bond trade plan, regulator says
Plans to allow the trading of government debt on Egypt’s bourse have stalled amid the lack of “urgency” by banks that hold most of the securities.
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Deutsche Bank plans to allocate $35m in grants to Egypt: Investment Minister
German bank studying new and renewable energy and road projects, as well as Suez Canal Axis Development project.
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PAYFORT set to unveil e-payment solutions at Cairo ICT 2014
The online payment service provider continues to see great future for Egypt’s e-commerce industry, and aims to help it realize its potential.
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Foreign investment in Egypt doubles to over $6 bln in 2013/14
After nine months of the 2013/14 fiscal year, FDI had stood at $4.4 billion.
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Egypt Q4 GDP growth rate up to 3.7 pct as confidence returns
Economic growth rate rises up beginning April till end June 2013 as confidence increases - annual growth remain relatively low at 2.2%.
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Citigroup says goodbye to Egypt, 10 countries
Citigroup, the U.S. bank with the broadest global reach, isn't so keen on globalization these days. It's pulling out of 11 countries.
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Egypt to receive $5bn in loans from UAE and Saudi Arabia: Source
Saudi Arabia and UAE pledge $5 billion to prop up Egypt FX reserves after return of Qatari deposits.
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Egypt's Qalaa Holding expects return to profit by first quarter 2016
Firm hopes 4 year old turnaround plan will bear fruit in another 4 years as it sells non-cash generating assets.
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Egypt sees GDP to grow 6% by 2018
Egypt’s real GDP in FY 2013/2014 reached 2.2 percent, almost the same as in the preceding fiscal year.