Finance News
-
Egypt considers issuing bonds in Indian rupees worth US$500 million: Finance Minister
Egypt is also considering issuing a second “sukuk” tranche and issuing sustainability bonds ranging from $500 million to one billion dollars next year
-
IMF head expects increase to Egypt’s $3 bln loan over ongoing challenges
Kristalina Georgieva expects the fund to increase the value of the loan provided to Egypt due to the impact of external factors on its economy.
-
IFC partners with Al Baraka Bank to support Egyptian MSMEs
IFC partnered with Al Baraka Bank Egypt to offer $50 million in finance for Egyptian micro, small and medium-sized enterprises.
-
Central Bank of Egypt sells $990 mln USD-dominated T-bills
CBE sold on Monday $990 million in USD-denominated treasury bills (T-bills) with a one-year maturity, according to the bank’s website.
-
MSMEDA finances 1.9 million small, micro-projects with EGP 48.3bn in President Al-Sisi’s tenure
The agency allocated EGP 25bn for micro-projects, benefiting around 1.713 million projects and providing 2.53 million job opportunities.
-
Egypt is considering issuance of Masala bonds worth $50M in 2024
Maait said he hopes to raise between $500 million and $1 billion through sustainability bonds in 2024.
-
120% surge in loan services payment push Egypt’s budget deficit higher
Egypt’s budget deficit rose to 3.85 percent of GDP during the first quarter (July-September) of FY 2023/2024, up from 2.05 percent.
-
Global giant MasterCard, Egypt’s MDP sign strategic alliance to enhance e-payments
Global payment technology company MasterCard has entered into a strategic alliance agreement with the Egyptian digital payment company MDP.
-
Egypt’s tax revenues jump around 35% in Q1 of current FY2023/24
Egypt’s tax revenue jumped 34.83 percent on an annual basis during the first three months of the new fiscal year (FY) 2023/2024.
-
PayTabs partners with mnGm to initiate card acceptance for gold purchases online in Egypt
This collaboration introduces card acceptance for gold purchases online for the very first time in the country.
-
Egypt lowers GDP growth projection for FY 2023/24 to 3.5%: Planning minister
Egypt has revised down its growth projection for FY 2023/2024 to 3.5 percent, Hala El-Said, minister of planning and economic development, said.
-
President Sisi announces new formation of sovereign fund’s general assembly
President Abdel-Fattah El-Sisi issued a new regulation on Monday, signaling the reconstitution of the General Assembly of the Sovereign Fund of Egypt.
-
Scammers reportedly steal money through InstaPay
Some fraudsters have begun exploiting the feature to scam victims out of their money.
-
Services account for nearly 60% of Egypt’s FDI inflows in FY2022/2023: CBE
The services sector was the top recipient of foreign direct investments (FDI) in Egypt during the fiscal year (FY) 2022/2023, recording $5.94 billion.
-
Egypt’s external debt recorded $164.7bn end of June rising 5.8% Y-o-Y: CBE
Long-term debt accounted for $136.6bn, whereas short-term debt accounted for $28.1bn.
-
Egypt's $3 billion loan programme to advance soon: IMF managing director
The International Monetary Fund (IMF) is on the verge of advancing with the next steps in Egypt's $3 billion loan programme shortly.
-
Dollar rate in Egypt’s black market sees sudden, significant decline
During November, the dollar recorded successive jumps in black market transactions, reaching 52 pounds due to a sudden increase in demand.
-
President El Sisi Receives IMF Director
Fahmy said that President El Sisi, and Georgieva reviewed the mutual ties between Egypt and the IMF.
-
UAE and Kuwait extending deposits reveals confidence in Egypt’s economy
Shawky pointed out that before coronavirus pandemic, Egypt’s foreign currency reserve amounted to about $45 billion.
-
AfDB commits $168mln for SMEs and trade boost in Egypt and Nigeria
The AFDB granted a financial package of $148 million to the Commercial International Bank of Egypt (CIB).