Finance News
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South Africa’s Standard Bank Group to set up Egypt office in 2024
The South African bank’s presence in Egypt will allow it “to capitalize on the significant emergence of the Gulf-sub Sahara Africa-Egypt corridor.
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Minister of International Cooperation highlights World Bank's role in development financing
Al-Mashat also discussed regional and international challenges and their impact on developing countries and emerging economies.
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Faisal Islamic Bank’s standalone profits surge 179% YoY in Q1
Revenues grew 82.4% to EGP 10.175 billion in Q1 2024 from EGP 5.580 billion in the same quarter last year.
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World Bank raises its growth forecast for Egyptian economy to 4.2% in 2024/25
The bank has lowered its expectations for Egypt's economic growth during the current year to 2.8 percent from its previous estimates of 3.5 percent.
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Central Bank of Egypt Raises ATM Withdrawal Limits to EGP 30,000
Previously, the limit for ATM withdrawals was EGP 20,000, and for withdrawals from bank branches was EGP 150,000.
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Egypt’s inflation eases to 33.3% in March following float of the EGP
Now that the EGP is trading in banks for considerably less than on the parallel market before the float, inflationary pressures have begun to ease.
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Egypt's Fawry private offering 15.9 times oversubscribed on stock exchange - statement
Investment bank EFG Hermes said the share price was 6.46 Egyptian pounds ($0.3874) per share.
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Egypt’s foreign reserves jump to $40.36 billion in March
This reflects a growth of approximately 14.4 percent compared to the previous month’s figure of $35.31 billion.
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EU pledges Egypt €1 billion in financial aid
The 1 billion euros in short-term aid is part of a bigger package worth 5 billion euros in loans, the statement said
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Egypt keen on providing expats with investment opportunities at home
The Ministry of Emigration launched a campaign to clarify the importance of promoting the role of the Egyptian state and efforts to boost investmets.
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Everything you need to know about the new 85% CD from ABK-Egypt
The Al Ahli Bank of Kuwait – Egypt on Tuesday announced the launch of a three-year certificate of deposit with an interest rate of 85 percent.
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World Bank Expects Africa's Economies to Grow by 3.4% in 2024
The report expects growth to rebound in 2024, rising from a low of 2.6% in 2023 to 3.4% in 2024, and 3.8% in 2025.
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Banque Du Caire Introduces Green Financing Programs For Solar Panels In Egypt
This move aligns seamlessly with Banque Du Caire’s persistent endeavors to promote sustainable financial solutions.
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Finance Min.: Up to EGP 50 Million of "Change" Offered on Occasion of Eid al-Fitr
This is to facilitate on citizens and meet the needs of markets; ensuring easiness of buying and selling and avoiding any congestion in parking.
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Valu Empowers ESLSCA Students with Flexible Payments Solutions
As part of this partnership, Valu will fully fund two full scholarships for exemplary students based on a mix of criteria.
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Egypt inflation: Pressure persists despite sharp fall, say experts
Monthly inflation rate was 1% in March, down from 11.4% in February. Prices of food and beverage, the largest single component of the CPI basket.
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Egypt’s balance of payments turns into deficit of US$410 million
This compares to a surplus during the same period in the previous fiscal year of $559.1 million.
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Egypt's startup deals hit 129 companies securing over $1M
This initiative, aimed at nurturing entrepreneurship and assisting startups in Upper Egypt, has successfully nurtured a total of 116 companies.
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Egypt budget initial surplus jumps over 8.5 folds in 1st 9 months of FY2023/2024
Non-sovereign tax revenues grew by 32 percent and sovereign tax revenues by 83 percent, Maait added.