Finance News
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What does it mean for an index to “rebalance”?
Last month, the Egyptian Exchange released new criteria for inclusion in the EGX30 in a bid to make the benchmark index more attractive for investors
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Egypt's CIB takes full ownership of Kenyan lender Mayfair
The acquisition has been approved by the central bank and will take effect on Jan. 31.
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Egypt spends LE 42.5B in export support for 2,500 companies
Minister of Finance, Mohamed Maait, stated that these initiatives help provide the necessary cash liquidity to ensure the rotation of the economy.
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Egypt Central Bank: Pound slips to new low against dollar
Many banks within Egypt were trading at 30 Egyptian pounds for $1 earlier this month.
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Egyptian banks' high-yield certificates of deposit pull in EGP 460 billion
Proceeds from the 25 percent and 22.5 percent saving certificates of deposit offered by Banque Misr and the NBE garnered EGP 460 billion in a month.
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IFC, Al Tadamun Microfinance partner to support women’s small projects in Egypt
The foundation will help designing and piloting a programme that targets projects and companies run by women.
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S&P Global Ratings maintains Egypt credit rating at B with stable outlook
Finance Minister Mohamed Maait hailed S&P’s decision, saying it reflects the international institutions' confidence in the Egyptian economy.
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Egypt's parliament approves joining BRICS affiliated bank "NDB"
Egypt aims to benefit from the areas that fall within the various activities of the bank, including supporting sustainable development.
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Egypt announces details of IPOs program in 2 weeks
Madbouly added that he previously discussed the revitalization of the Egyptian Stock Exchange.
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Egypt efforts to modernize aircraft inventory to drive defense expenditure at 3.9% through 2028
The US provides Egypt with $1.3 billion of military assistance annually to facilitate the transition from the outdated Soviet era equipment.
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Pathways to maintain Egypt's attractiveness to foreign direct investment
Egypt has been working towards the localization of many industries and turning into a manufacturing hub that would supply to Africa and the region.
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CIRA’s consolidated profit up 7.68% YoY in 3 months
CIRA is an Egypt-based company, operating in the investment field across diversified sectors.
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Wafeq strengthens presence in GCC and expands to Egypt with new funding
With its recent funding, Wafeq will continue to innovate and build new product functionalities, while also focusing on customer acquisition.
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Highest since 2018 .. Egyptian bourse sees record trading
The main index of the Egyptian Stock Exchange "EGX30" rose during today's session by 2.13% to close at 16,791 points.
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Egypt banks stop issuance of CDs by the end of January
The search rates of citizens who wish to purchase the new Certificates of Deposit (CDs) with a return of 25 percent introduced recently have increased
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State keen to grant private sector 'appropriate' opportunities for growth
The upcoming sector will witness granting the private sector more opportunities for growth, expansion and partnership in the various sectors.
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Egypt's sovereign fund, B Investment ink deals to co-invest over EGP 2 billion in health sector
BIH and TSFE's sub-fund are committed to invest EGP 200 million and EGP 100 million, respectively.
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MSMEDA pumps LE 6.8B to 222K small, micro projects during 2022
This came during a meeting held by Prime Minister Mostafa Madbouli, with the CEO of the MSMEDA, to follow up on a number of the agency's work files.
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Egypt economic growth this year seen quicker than government forecast
Egypt's economy will grow 4.8% in the current fiscal year, faster than predicted by the government.
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Juhayna’s stock soars following CEO, son release from prison
In the first nine months (9M) of 2022, Juhayna’s consolidated net profits amounted to $25.03mln.