Finance News
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Egypt’s foreign financing decreases by more than a third in 2023
The volume of development financing provided to Egypt last year amounted to $13.7 billion, an increase of 37 percent over the previous year.
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EGX reportedly studying new upgrade to trading system to address tampering concerns
The main objective will be to address concerns surrounding tampering with the auction session, a critical factor influencing the closing price.
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Xmatch attracts over $20 mln in potential investments for Egypt’s SMEs, startups
Xmatch Demo Day has secured more than $20 million in potential investments for Small and Medium Enterprises (SMEs) and startups in Egypt.
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After a 15 day pause, Egypt’s banks resume fees on issuing cards and opening accounts
Banks operating in Egypt on Sunday resumed collecting fees on opening accounts (current or savings), adhering to the minimum account balance.
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Egypt seen keeping interest rates on hold on Thursday
Many analysts believe Egypt will wait until January, well after the Dec. 10-12 vote, before hiking interest rates or devaluing the currency.
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Egyptian banks increase people of determination ATMs by 23 percent: CBE
The number of ATMs with features supporting people of determination in Egypt surged by nearly 23 percent to 4,950 in December from around 4,000 in Jan
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With the maturity of 25% CDs approaching, will banks offer up new savings pots?
Owners are interested in the best ways to employ them, and whether public banks will tend to offer CDs with higher returns in retaining this money.
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Egypt excludes several sectors from spending rationalization plan: Maait
The Egyptian government's decision to rationalize spending will not affect crucial sectors such as health, supply goods, petroleum and gas supplies.
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Egypt receives $39 bln soft development financing in 2020-2023
Egypt has received $38.8 billion of soft development loans and grants from international development partners between 2020 and 2023.
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Egypt allocates more than EGP 50B since 2019 to support exporters: Finance Minister
He also added that Egypt has dedicated LE 160 billion to support the agricultural, industrial, and tourism sectors.
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FRA amends resolutions to allow more entities to set up investment funds
This amendment enables closed investment fund companies to issue multiple batches of documents, streamlining the establishment and processes.
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Egypt pays over EGP 13 bln annually in interest rate difference for domestic producers: Minister Maait
Egypt bears an annual burden of over EGP 13 billion due to interest rate differences in loans provided domestically at discounted interest rates.
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Egypt obtained $38.8B in financing in past 4 years to support SDG progress, Al -Mashat
Rania Al-Mashat stated that the ministry secured $28.5 billion for the public sector and $10.3 billion for the private sector between 2020 and 2023.
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IIF projects Egypt’s GDP growth at 3.3% for FY2023/24
Egypt's economy is expected to achieve a real growth rate of 3.3 percent during the fiscal year (FY)2023/2024, which ends in June 2024.
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HSBC forecasts Egyptian pound devaluation to EGP 40-45 against USD in Q1 2024
British bank HSBC projected the Egyptian pound to experience devaluation, reaching EGP 40-45 against the US dollar, during the first quarter of 2024.
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IFF expects Egypt’s economy to grow by 3.3 percent in 2023-2024
Growing inflation, foreign currency shortages, and commodity supply bottlenecks could lead to weak private-sector consumption and export decline.
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Empowering Egypt's Youth: Emirates NBD-Egypt's Commitment to Financial Inclusion
At the European Universities in Egypt, Emirates NBD-Egypt made a resounding statement by offering the youth segment free accounts and debit cards.
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What are likely scenarios for Egypt’s ongoing IMF loan deal amid war in Gaza?
Amid the escalating geopolitical tensions due to the Gaza war, different scenarios emerged regarding Egypt’s $3 billion loan.
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Understanding debt restructuring: The case of Egypt
This article delves into why Egypt might consider this financial strategy, the implications for its economy, and the role of the IMF.
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Egypt to receive $21.5B from foreign investments: ECS Chief
These investments will be distributed as follows: Indian investments amounting to $13 billion, Turkey $3 billion, Belgium $3 billion, and China $2.5bn