Finance News
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Cashless transactions through Fawry increase by 232%
At the end of 2021 Fawry recorded an active daily users’ base of almost 2.5 million users.
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New coordination council between CBE, government
President AbdelFattah El-Sisi issued resolution 584 to form the council chaired by the prime minister, bank governance and some other ministers.
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Egypt to rejoin JP Morgan’s index
The move is expected to trigger around $1 billion investments in government equity thus reducing the cost of government debt and raise its efficiency.
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Egypt top country in mergers and acquisitions
Egypt ranked third after the US and the UK in terms of M&A deal volume and first in outbound deals.
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Egypt to invest EGP 43bln in power sector
The power sector is a good indicator for the development of the whole economy as all the other sectors depend on it for their operation.
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Top 6 Fitch predictions about Egypt economy
The American credit rating agency stated that the Egyptian economy is among a few to managed to achieve an annual growth despite the COVID-19 pandemic
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Egypt, IMF agree on $5.2 billion release
The IMF had also loaned Egypt a $2.8 billion emergency loan in 2020 to face the consequences of the pandemic.
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The 6 CBE rules for issuing electronic currencies
The permission is only limited to banks under CBE supervision and upon its consent.
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Top 3 players in mortgage finance market in Egypt
These companies offer different options of finance to people who want to own real estate units, whether residential, commercial or administrative.
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Paymob Closes Series A with $18.5m
Paymob was founded in 2015 by Islam Shawki, Alain El Hajj and Mostafa El-Menessy with a vision to revolutionize payments in Middle East and Africa.
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Egypt 10 power businesswomen 2021
Who are the 10 women who made it to the top of the business scene in Egypt according to Forbes?
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2021-2022 draft budget handed to president for review
The budget aims to support investments, especially in projects that offers support to rural areas and cater to the development of Upper Egypt.
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Rethinking Egypt Economy
How was Egypt's economy performing and how that changed after COVID-19 hit? What are the options moving forward? MEI paper has an answer to all these.
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Egypt annual inflation rate in decline
The inflation rate projected by the end of this quarter due in November is about 5% while the rate expected for the next 2 fiscal years stands at 6%.
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10 Things Goldman Sachs said about Egypt economy
What will CBE do about interest rates? Goldman Sachs predicted it in their new report where they hailed Egyptian economy as a strong emerging market.
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More inclusion for SMEs in Egyptian exchange
EGX announced the new account aggregation system for securities listed on the SMEs market.
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SMEs join beneficiaries of financing initiative
CBE added small and medium enterprises to the list of beneficiaries of an GP 100billion initiative to support economy amid COVID-19 crisis.
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Egypt economic growth forecast lowered
A Reuters poll lowered Egypt’s economic forecast to 3.5% in the next fiscal year starting July down from 5.9%.
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The economy after Covid-19, what to expect?
What will the world economy look like after the pandemic? What policies and decisions will be taken?
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President El-Sisi meets WB delegation
This is the 1st visit for the World Bank delegation since 2014. The WB seeks more cooperation with Egypt after success of reform program.