Finance News
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Egypt plays major role in BRICS
Russia has significantly close relations with Egypt in various fields, he assured, including in politics the economy and the parliament.
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Egypt total budget deficit at 505 bln pounds in 2023/24
Egypt devalued its currency in March to curb rising inflation. The pound was fixed at 30.85 per dollar for a year before plunging towards 50.
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Egypt’s Dopay secures $13.5 million Series A extension round
Egypt-headquartered fintech Dopay has closed a $13.5 million Series A extension round, topping up a previous $18 million Series A round raised in 2021
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Egypt’s budget initial jumps to EGP 857 billion in FY23/24
Egypt’s budget has achieved an initial surplus of EGP 857 billion in the FY2023/2024, which ended on 30 June, compared to EGP 164 billion.
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IMF lowers projections for Egypt real GDP growth by 0.3% in FY23/24, FY24/25
In April, the IMF maintained its projection for Egypt’s real GDP growth in 2024 at 3 percent, declining by 0.8 percent compared to 2023 estimation.
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EBRD provides US $130 million loan to Coca-Cola HBC in Egypt
In Egypt, 26.5 per cent of youth are unemployed and many employed individuals tend to work in jobs that lack job security and stability.
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Egypt PM Madbouly forms new cabinet economic cluster
Prime Minister Mostafa Madbouly issued on Sunday a decree to establish and define the roles of the new cabinet’s economic cluster.
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Egypt first investment destination in Africa for 2nd year
The economic zone of Suez Canal alone clinched deals worth 10.8 billion dollars in the green ammonia and hydrogen domains.
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Forbes Middle East Reveals The Top Listed Companies In Egypt
The list, derived from the Egyptian Exchange, ranked firms based on their sales, assets, and profits for the financial year of 2023.
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Improving Egypt’s business climate to revive private sector growth
Weak productivity in Egypt is rooted in deep-seated structural causes that impede market competition and prevent a more efficient resource allocation.
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EU to disburse €1 bln of its financing package to Egypt next fall
The European Union (EU) is likely to disburse the first tranche of its 7.4 billion euros financing package to Egypt, worth one billion euros.
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Egypt’s new committee aims to raise up to LE25 billion annually from state asset divestment
The government had divested state-owned assets worth about $5.6 billion two years ago.
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Egypt's IMF loan payout delayed by final details amid difficult environment
The board approval for the third review of Egypt's expanded $8 billion loan program was originally expected on July 10.
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ADIB-Egypt increases card usage limits, reduces foreign currency transaction fees
The cash withdrawal limit for international transactions remains at $50 for most cards.
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Egypt's inflation rate eases for fourth month running in June
June's fall extended the downward shift from a record 38% in September 2023 as authorities have shifted to an inflation targeting model.
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Egypt targets $20 bln for private sector investments
Egypt targets executing $20 billion worth of investments by the private sector during the current FY2024/2025.
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Finance, investment ministers step down from Talaat Moustafa, Edita boards of directors
Misr Insurance Company, a member of TMG's board of directors, reported Kouchouk's resignation from representing the company.
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Fitch Solutions expects CBE to keep interest rates on hold till end of 2024
BMI, a Fitch Solutions company, expected the Central Bank of Egypt (CBE) to keep its monetary tightening policy on hold.
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EU Companies Bet Big On Egypt’s Future
Can a new wave of FDI help Egypt to diversify and modernize its economy?
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Egyptian Exchange launches online platform for discussions, recommendations
The Egyptian Exchange (EGX) announced on Tuesday the launch of the “stock exchange dialogue” platform on its online portal.