Finance News
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Egypt likely to restructure debt in 2024: Morgan Stanley
Egypt is likely to restructure its debt in 2024 to mitigate the burden of debt service payment through 2025.
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Six banks collaborate on EGP 2bn financing for Abd El Salam El Feky & Partners
EBank plays a pivotal role in this venture, aligning with Egypt’s strategic efforts to transform into a global trade and logistics nexus.
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Egypt’s average inflation to decline to 27.4 percent in 2024: Report
Egypt’s average inflation is expected to decline to 27.4 percent in 2024 from 34.1 percent in 2023, according to a report by BMI Research.
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Egypt’s fintech Banknbox raises funding from Disruptech Fund
This investment not only facilitates Banknbox’s expansion into new markets but also enhances its capabilities to meet evolving client needs.
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Dahab Masr, GuRow seal deal to boost gold investment using AI
Dahab Masr has signed a cooperation protocol with GuRow, a financial technology application, to develop the gold market through AI.
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Fitch Revises Misr Insurance Company's National IFS to 'AAA(egy)'
The rating action follows the recalibration of Egypt's National Ratings Table after the downgrade of Egypt's sovereign rating.
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Egypt likely to receive $20 bln financing over four years: Report
Egypt is likely to receive $20 billion in loans and investments from the International Monetary Fund (IMF) and other entities over four years.
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Banking expert advises against new high-yield savings certificates
He argues higher interest rates would not benefit the national economy, banks, or individuals, nor would they aid in achieving inflation targets.
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Egypt's annual core inflation decelerates by 2.2 percent in November
Egypt's annual core inflation rate decelerated by 2.2 percent in November, recording 35.9 percent, down from 38.1 percent in October.
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Banking sector sees significant increase in total bank deposits in August, CBE
Government deposits reached LE 2.179 trillion, while non-governmental deposits accounted for LE 7.539 trillion.
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MSMEDA bolsters cooperation with Arab, African nations to aid entrepreneurs
Rahmi’s remarks came during his attendance at the summit of African Ministers responsible for emerging enterprises in Algeria.
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CBE: Egypt's Foreign Reserves Rises to $35.173 Billion
Egypt imports the equivalent of an average of $7 billion a month in goods and products from abroad, with an annual total estimated at more than $70bn.
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Inflation in Egypt expected to decrease in 2024 due to Egyptian pound movement: report
The exchange rate of the Egyptian currency will remain within the range of 31 pounds to the dollar at the beginning of next year.
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Egypt's digital pound: 10 key facts you should know
As Egypt explores the possibility of introducing its digital pound, here are 10 essential facts that readers need to know about this.
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Egypt's net int'l reserves record $35.173B in November: CBE
In October, Egypt's NIR also witnessed a growth, to reach $35.1 billion compared to $34.97 billion in September, as reported by the CBE.
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Egypt in discussions with IMF for additional funding
The IMF is currently discussing with Egyptian authorities providing additional financing to ensure the successful implementation of the policy package
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Egypt’s revenues rise steadily in recent years: Infographic
The Egyptian government’s revenues surged 29.5 percent year-on-year to EGP 335.13 billion ($10.83 billion) during the first three months of FY23/24.
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Higher debt service bill to widen Egypt’s budget deficit in FY2023/2024: Report
Egypt’s budget deficit will increase by one percent in the fiscal year (FY) 2023/2024 to account for 7.1 percent of GDP, up from 6.1% in FY22/23.
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AUC Business School dean appointed on CBE board of directors
AUC announced that Sherif Kamel, dean of the School of Business Administration, has joined the Board of Directors of the CBE.
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Egypt considers issuing bonds in Indian rupees worth US$500 million: Finance Minister
Egypt is also considering issuing a second “sukuk” tranche and issuing sustainability bonds ranging from $500 million to one billion dollars next year