Finance News
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Egypt finance minister discusses economic policies at National Press Authority
The recent National Press Authority (NPA) seminar aimed to enhance cooperation between the authority and the Egyptian Ministry of Finance.
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Egypt state-owned Delta Insurance receives 2 acquisition offers
State-owned Delta Insurance has received acquisition offers from AXA Egypt and Wafa Life Insurance Egypt, with an estimated purchase price of EGP 5bln
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Egypt pound breaches 50 to the dollar
The pound has traded within a narrow range just short of 50 to the dollar since Egypt signed an $8 billion financial support package with the IMF.
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Egypt To Float Up To Four Army-owned Firms: PM
The government has been under pressure to sell stakes in state-owned companies under a bailout package secured from the IMF.
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A new era for Egypt's private sector
Egypt is transforming its economic model by empowering the private sector, introducing investor-friendly reforms.
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Egypt to list armed forces companies to boost economic growth
For investors, this initiative opens doors to new opportunities in one of the region’s most dynamic markets.
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Egypt ranks 2nd for budget transparency in MENA survey
Egypt has ranked second, following Jordan, for budget transparency across the Middle East and North Africa (MENA) region.
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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.