Finance News
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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.
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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.