Finance News
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Understanding debt restructuring: The case of Egypt
This article delves into why Egypt might consider this financial strategy, the implications for its economy, and the role of the IMF.
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Egypt to receive $21.5B from foreign investments: ECS Chief
These investments will be distributed as follows: Indian investments amounting to $13 billion, Turkey $3 billion, Belgium $3 billion, and China $2.5bn
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EBRD considers $35 million loan to Arab Investment Bank to support MSMEs
Additionally, the EBRD is considering granting a €165 million loan to Egypt to modernize the electrical grid and reduce pollution.
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Egypt scheduled to pay $32.8 bln in debt service in 2024
Egypt is required to pay $32.79 billion in debt service in 2024, according to data released by the Central Bank of Egypt (CBE).
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3 Egyptian startups win $10k grants from Visa, CIB “She’s Next” competition
Three Egyptian startups have been awarded US$10,000 each after finishing in the top three of the She’s Next competition run by Visa and CIB.
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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.