Finance News
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Egypt seeks soft loan worth $1B from NDB by end of 2024
The funds obtained will be used to support mutually agreed-upon projects, and disbursement may occur in either dollars or alternative currencies.
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Annual inflation rate falls below 30% for 1st time in 15 months
Egypt's annual headline inflation rate has maintained its downturn trend for the third consecutive month, dropping to 27.4 percent in May.
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Egypt, EU probe private sector guarantees
Mashat and Koopman held a virtual meeting to follow up on the preparations for the investment conference between Egypt and the European Union in June.
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NDB’s first int’l seminar in Egypt: Facts and expectations
The seminar represents an opportunity to familiarize with the bank's operations and explore ways to assist the government and private sector.
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Banknbox expands fintech partnerships across 8 countries
Banknbox offers a suite of internally developed digital services, ensuring flexibility, compatibility with customer needs, and cost-effective delivery
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CBE welcomes Kenyan delegation to discuss instant payment innovations
This visit was part of a broader initiative to share Egypt’s pioneering efforts in developing the Instant Payment Network (IPN) and the InstaPay app.
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Entrepreneurship and Startups Unit of GAFI in advisory meeting
The unit aims to facilitate communication with entrepreneurs, enabling GAFI to better understand their challenges and review proposals for ecosystem.
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Egypt to host BRICS bank 1st int'l forum
Egypt's New Administrative Capital will host the New Development Bank's (NDB) first international forum outside the BRICS countries on 11-12 June.
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IMF, Egypt reaches staff level agreement worth US$820 million
Subject to approval by the IMF’s Executive Board, Egypt will have access to about US$820 million, an IMF statement said.
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Valu launches Ulter: Egypt’s first high-end payment solution
Valu has partnered with top-tier merchants in the luxury space to provide customers with a seamless financing experience.
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Egypt makes significant strides in citizen participation in budget
This is according to the 2023 Open Budget Survey by the International Partnership for Budget Responsibility (IPBR).
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Is Egypt preparing to impose new taxes?
The minister said the tax policy document is subject to careful study by Finance Ministry in order to express its goals during the next six years.
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Egypt parliament approves state budget at LE 5.5 trillion
The Egyptian House of Representatives approved the draft law on state’s general budget for the fiscal year 2024/2025.
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Egypt targets $30 billion in foreign direct investment in 2024/25
The country's general budget indicators show that total revenues are expected to be EGP2.6 trillion.
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Remittances of Egyptians abroad increase by 43.8% in April
The Central Bank of Egypt had announced that net foreign reserves had reached $41 billion at the end of April 2024.
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Egypt’s int’l reserves hit highest point in 4 years
Egypt’s net international reserves (NIRs) hit its highest point in more than four years (50 months) to reach $46.1 billion in May.
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Egypt’s economy forecast to grow by 4.2 percent
Dr. Elsaid attributed this growth to increased investment spending, stronger net exports, and higher consumer spending.
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Banks across Egypt offering CDs up to 30% per month
Several banks operating in Egypt have recently launched Certificate of Deposits with lucrative monthly and annual returns.
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InstaPay introduces new feature for easier money transfer
The new feature enables the beneficiary to share the QR Code to the other party wishing to transfer the money.
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Egypt suspends land allocation system in foreign currency
The ministry will assess all allocations related to the system to ensure alignment with the Central Bank of Egypt's foreign exchange policies.