Finance News
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2,066 Chinese companies invest $8 billion in Egypt
Abdel Aal highlighted Egypt's intention to enhance Chinese investments by establishing a dedicated economic zone inspired by those in China.
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CBE Withdraws Liquidity from Banks worth EGP 1.058 Trillion
31 banks offered bids worth EGP 1.058 trillion on Tuesday, and 100% of the bids submitted by the banks were accepted.
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Egypt opens CREATIVA Incubation Programme 2nd cohort
The nine-month programme will be running from October 2024 to June 2025.
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Egypt's external debt declines to 160.6B during Q1 of 2024
By the end of March, Egypt's overall external debt had declined to $160.6 billion, down from $168 billion in December and $164.5 billion in September.
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All you need to know about key CBE figures on Egypt payments balance
Egypt’s overall balance of payments registered a surplus of $ 4.1 billion in the July-March period of the 2023/2024 fiscal year, from a $ 281.9 m.
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Egypt to issue EGP 2 note in FY2024/2025
Egypt will issue a EGP 2 note in FY2024/2025 to facilitate holding the small currency, according to Asharq Business with Bloomberg.
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TikTok partners with Entlaq on Egyptian entrepreneurship report
Mohamed Ehab, Entlaq CEO expressed his pleasure to have TiKtok for the second year in row as the creative economy partner.
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President Sisi reappoints Hassan Abdallah in 3rd term as CBE acting governor
President Abdel-Fattah El-Sisi issued a decree to renew the tenure of Hassan Abdallah as the Central Bank of Egypt's (CBE) acting governor.
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FinExpo to debut in October as Egypt’s 1st major fintech e-trading conference and exhibition
FinExpo, described as the largest platform of its kind in Egypt, aims to connect investors interested in the stock market and electronic trading.
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Singaporean Olam to raise investment in Egypt to $55 mln
Prakash Jhanwe declared in a meeting that his company will increase its current investment by $22 million to reach $55 million.
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Egypt’s net foreign assets record EGP 508.58B in July 2024
This positive trend follows a significant turnaround from a deficit of LE 174.385 billion in April 2024 to a surplus of LE 676.4 billion in May 2024.
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Egypt efforts to support private sector over two years
The Egyptian Information and Decision Support Centre (IDSC) issued in a report on Thursday the efforts and measures the government has taken.
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EGP 2 tln divided equally between public and private investments planned for FY2024/2025
The total investments allocated in the current FY2024/2025 plan amounts to EGP 1.987 trillion, including EGP 1 trillion in public investments.
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Egypt's Fawry plans to begin Saudi operations by year-end
Fawry is an Egypt-based company that provides an electronic payment network.
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CEO of Egypt’s sovereign fund reportedly resigned in July, to close term by end of month
Soliman’s resignation was somewhat expected, with one source stating that the government was looking to introduce fresh faces into key positions.
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What's next for mobile wallets in Egypt?
As the country continues to embrace digital finance, the future of money management in Egypt looks increasingly mobile and accessible to all.
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CBE: Mobile wallets reached 39M in 2023
By the end of September 2023, the total had reached 36.7 million, with 96.2 million transactions amounting to LE 11.64 billion.
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Sisi discusses gov’t measures to achieve tax stability, spur investment
Egyptian President Abdel-Fattah El-Sisi met with Prime Minister Moustafa Madbouly and Finance Minister Ahmed Kouchouk.
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Mahmoud Mohieldin analysis of Egypt economic policies over last 70 years
El-Shal is an assistant professor of Economics at Cairo University and the research associate director at the Abdul Latif Jameel Poverty Action Lab.
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Egypt central bank sells €609.8 mln in euro-denominated T-bills
The Central Bank of Egypt (CBE) sold on Tuesday 609.8 million euros in euro-denominated treasury bills (T-bills), with a 364-day maturity period.