Finance News
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EU Mobilizes €9 Bln in Investments to Support Egypt's Economic Development
The EU ambassador said that the economic support program for Egypt to confront the economic challenges facing Egypt as a result of the migration.
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Egypt Post suspends foreign currency transactions through EasyPay cards
Egypt Post has suspended foreign currency withdrawals and purchases through EasyPay cards, according to SMSs sent to clients’ mobile numbers.
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Egypt's private sector to drive country’s economic recovery in 2024: Finance minister
Egypt's private sector is poised to drive economic recovery and foster growth in the country throughout 2024.
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Dollar prices stable at major Egyptian banks
At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered LE 30.75 for buying and LE 30.85 for selling.
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Egypt targets debt-to-GDP ratio to drop to 75% by 2027, Finance Minister
The finance minister expects that the Egyptian economy will have positive growth in the upcoming fiscal year.
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Funding for Egyptian microenterprises skyrockets 1,123% in 6.5 years
Financing offered to Egyptian microenterprises surged by more than 1,123%, reaching EGP 78.3 billion in June 2023 from just EGP 6.4 billion.
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Kredit launches to finance SMEs in Egypt
Kredit is part of GB Capital’s strategy to promote financial inclusion and support the growth of SMEs in Egypt.
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Egyptian T-Vencubator Fund launches to support technology startups
T-Vencubator, an Egyptian tech startups incubator and venture capital company, announced starting its operations in Egypt.
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Egyptian Banks Suspend Use of New Credit Cards Abroad for 6 Months
This helps to stop the misuse that has been monitored on foreign currency transactions abroad and at home through credit cards.
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CBE Grants Banks 6 Months Deadline to Update Controls on Money Laundering, Terrorsim Financing
The circular explained that these updated controls came with reference to the supervisory controls for banks regarding combating money laundering.
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Egypt inks $460.4M financing deals with Korea's Eximbank, IsDB
The main objective of these agreements, as outlined in the MoIC report, is to support Egypt's efforts to achieve comprehensive and sustainable growth.
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Egyptians likely to spend 1.2% more in 2024: Mastercard
Egyptian real consumer spending is expected to increase by 1.2 percent year-on-year in 2024 despite inflation concerns.
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Will the Central Bank of Egypt’s decision to fix interest rate be reflected in prices?
According to the CBE, the core inflation rate declined for the fifth time in a row – recording 35.9 percent in November.
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International Finance Corporation invests up to US$7 billion in Egypt
The meeting followed up on the joint cooperation portfolio with the IFC, and the ongoing measures to enhance private sector participation.
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Egypt received 15% less remittances annually in 2023, World Bank
According to recent data from the Central Bank of Egypt, there was a reported 38 percent decline in remittance flows during the first half of 2023.
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Top 10 private equity companies in Egypt
Egyptian private equity firms and investors focus on injecting capital into local businesses, providing them with the resources needed to grow.
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CBE’s MPC keeps key interest rates unchanged as 2023 ends
This leaves the overnight deposit rate at 19.25 percent, the overnight lending rate at 20.25 percent, the rate of the main operation at 19.75 percent.
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Egyptian e-payment company Basata to launch new services in 2024 promoting financial inclusion
Basata Holding, a leading Egyptian e-payment services company, announced plans to introduce new services in 2024 to promote financial inclusion.
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Egypt explores possibility of Gulf currency-denominated bonds
In November 2023, Egypt achieved a successful sale of nearly $500 million worth of 5-year Samurai bonds in the Japanese market.
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EBRD provides $100 mln loan to National Bank of Egypt
Half of the loan will be dedicated to Egyptian private MSMEs in regions outside of Cairo and Alexandria.