Finance News
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Egypt's 2024 tax updates: Key changes and benefits
These changes aim to mitigate the effects of inflation and promote social justice. Here are the key highlights of the new tax measures.
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Egypt Announces Exempting Strategic Industrial Projects from Certain Taxes
Maait said that up to 40.5 billion pounds have been allocated in the next fiscal year’s budget to finance programs to stimulate economic activities.
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Smart cards manufacturer MDP plans to invest $2 mln in Egyptian market
Smart issuing and payment processing warehouse MDP plans to inject new investments worth $2 million into the Egyptian market.
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UN to continue backing Egypt's sustainable development efforts
In 2023, the UN funded activities in Egypt amounting to approximately $209 million.
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Egyptian investtech startup Bokra plans swift Saudi, UAE expansion post-launch
It is the first platform to offer goal-based investment and saving products through asset-backed securities.
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Egypt considers increasing 'zero-tax bracket'
Egypt is considering regular reviews to increase the "zero-tax bracket" following inflation rates as part of the new income tax bill.
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Egypt Pumps EGP 20 Million in Coins to Avoid Change Shortage on Eid al-Adha
The Ministry of Finance confirmed that 20 million pounds “change” was issued in coins on the occasion of Eid Al-Adha.
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Egypt ranked world’s 6th country on expats’ remittances in 2023
Egypt held the 6th position among the world’s remittance recipient countries in 2023, the Central Agency for Public Mobilization and Statistics said.
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HSBC to back fintech in Egypt with $31 million fund
HSBC Egypt is planning to launch a fund worth EGP 1.5 billion ($31.5 million) to back the fintech sector in the North African country.
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U.S. pledges $130 million to support Egypt’s development efforts
This partnership will contribute to stimulating Egypt’s private sector participation in diverse projects.
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ITFC anticipated to disburse $200mln tranche to EGPC
EGPC will use the tranche to fund the purchase of petroleum derivatives and petrochemicals.
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What is a debt-for-development swap? and why Egypt wants it?
This innovative strategy can help nations tackle debt burdens while simultaneously funding essential development initiatives.
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Egypt’s economy to grow to 4.2 percent in 2024
The World Bank attributes Egypt’s economic expansion in 2024 to several factors including the rise in investments, particularly in the Ras El Hekma.
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Egypt secures $10.04B foreign direct investments in FY2023/2024
This represents a growth rate of 12.3 percent compared to the FY 2022/2023.
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Sisi highlights South-South partnerships to New Development Bank president
The meeting in Cairo reviewed the path of relations between Egypt and NDB, which is the economic arm of the BRICS group.
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Egypt reports $17.23 billion primary budget surplus
This represents a significant increase compared to the previous fiscal year, when the surplus was only $2.43 billion.
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EGX’s long-awaited shariah-compliant index to go live today -report
EGX head Ahmed El Sheikh said last month that the bourse has put together a committee to launch the index this quarter with 30 to 50 listed companies.
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Egypt’s Top 50 Listed Companies 2024
The top 50 listed companies in the annual list saw their sales in USD shrink by almost 20% to $26.4 billion in 2023 compared to 2022.
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Egypt important to the global economy: BRICS' Dev. Bank
Egypt, with its geographical location, acts as a gateway between Asia and Africa and is a crucial corridor for global trade.
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Egypt’s Sahl closes dual rounds at $6 million
Sahl's strategic vision is to become the dominant player in facilitating digital payment transactions within Egypt's booming EGP 2.5 trillion sector.