Finance News
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Contact Pay, eKhales expand partnership to offer PoS payment solutions
This partnership enables Contact customers across the country to conveniently settle their payments via eKhales’ expansive partners network of PoS.
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IMF’s METAC high-level event concludes in Egypt
Azour noted that METAC was designed to be a key reform partner and a bridge to IMF headquarters.
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Egypt central bank joins Pan-African Payment and Settlement System
CBE revealed in a statement on Tuesday that it signed an agreement in November to join the Pan-African Payment and Settlement System (PAPSS).
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Kuwait extends $2B deposit to Egypt until 2025
Another Kuwaiti deposit of equal value is scheduled for repayment in September 2024, according to the bank's data.
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Egypt’s PMI edges closer to 50.0 growth threshold in November
Egypt’s Purchasing Managers' Index (PMI) for the non-oil business sector rose for the second consecutive month to reach 49.2 points in November.
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Egypt’s central bank withdraws LE 1.033T in liquidity
The CBE had earlier introduced revised guidelines for its weekly main deposit operations, previously conducted through fixed-rate tenders.
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Low-, middle-income countries to experience acute impact due to 2023 economic slowdown
The global economic slowdown in 2023 is expected to have a particularly acute impact on countries already struggling with elevated debt.
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Egypt Adopts Mechanism to Stabilize Exchange Rate by No More than 3 - 4% Change
The government is making intensive efforts to facilitate the entry of investors into the Egyptian market.
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'We won’t repeat past mistakes': Egypt PM says
The dollar's value fluctuated between 4 to 5 percent ($1/EGP 47 to $1/EGP 49) after the country adopted a flexible exchange rate in March.
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El-Sisi issues decree appointing Central Bank of Egypt board for 1 year
President Abdel-Fattah El-Sisi has issued a decree appointing the Central Bank of Egypt (CBE) board of directors, chaired by Hassan Abdullah.
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Egypt's tax revenues hit LE 560.7B in first 4 months of 2024
This marks the highest growth in tax revenues in the past two decades, adding an impressive LE 155.2 billion to the national coffers.
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Egypt's public expenditures surge by 7.3% in FY2024/2025
Spending on wages and employee compensation saw a notable increase of 22.4 percent, amounting to LE 197.1 billion over four months.
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Egypt’s budget deficit declines by LE 97B during FY2024/2025
The deficit now stands at LE 453.2 billion, representing 2.6 percent of GDP, compared to LE 550.2 billion, or 3.9 percent of GDP.
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Egypt wins first place in Arab FinTech Challenge
Egypt's EZRAALI project wins first place in Arab FinTech Challenge in Dubai. 2nd consecutive win for Egypt.
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IFC to invest $605 mln for climate finance
$605 million to support climate finance, sustainable tourism, and financial inclusion for micro, small, and medium enterprises (MSMEs) in Egypt.
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United Bank's IPO oversubscribed by almost 6x
The United Bank has set ambitious targets for its net profit, aiming to reach 3.071 billion LE by the end of 2025, 3.821 billion in 2026.
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Egypt & Spain partner for €800k two development projects in Egypt
The first grant, worth €500,000, is dedicated to enhancing wastewater treatment and reuse in Egyptian sugar factories.
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Egypt’s AAIB issues landmark $500 mln sustainability bond to promote finance
Arab African International Bank (AAIB) issued Sunday a landmark $500 million sustainability bond to accelerate Egypt’s green transition.
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Islamic Banking In Egyptian Market Increases To EGP 1.080Trn
This substantial growth is attributed to the transformation of Al-Ahli United bank into an Islamic bank following its Acquisition by Kuwait Finance.
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NARSS, GIZ discuss research cooperation projects
The meeting discussed opportunities to leverage GIZ’s focus on supporting agricultural projects and small farmers.