Finance News
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1,250 opportunities available as part of Egypt’s investment map: GAFI CEO
These opportunities are spread across 56 state entities, encompassing various sectors such as industry, services, agriculture, and tourism.
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MSMEDA, ERADA partner to fund 3,000 micro-projects with $3.23mln
The contract reflects MSMEDA’s interest in cooperating with microfinance companies in the Egyptian market to increase the microfinance portfolio.
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Egypt sells $1.61 bln of one-year dollar T-bills -central bank
The bills, which will be settled on Nov. 14, replace a similar amount of maturing one-year dollar T-bills that bore an average yield of 4.60%.
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Egypt to hold press conference for IPO programme updates
The Egyptian cabinet announced that it will hold a press conference soon to provide updates on the government IPO programme and future planning.
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CBE, Kuwait Investment Authority allegedly selling combing 40% of AAIB next year
The central bank and KIA each currently hold a 49.37% stake in AAIB, with the leftover 1.26% distributed to “others,” explains AAIB’s recent report.
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Crédit Agricole Egypt posts strong profit growth in first nine months of 2023
The bank's net profits after tax soared to EGP 3.80 billion, marking a remarkable year-over-year leap of 137.19%.
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Egypt’s total budget deficit hits 3.2% of GDP in two months
Egypt’s total budget deficit reached 3.2 percent of GDP or more than EGP 383 billion ($12.4 billion) during the first two months of FY23/24.
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Kuwait extends $4 bln deposit at Egypt’s central bank
Kuwait has prolonged the tenor of a $4 billion deposit at the Central Bank of Egypt (CBE) to support the country’s international reserves.
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Egypt to establish company to invest in expatriate funds by 2024
The new company is one of the demands made by expatriates, and aims to invest in major Egyptian projects and national projects.
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World Bank awards Egypt for fostering economic competition
Egypt was awarded by the World Bank for its outstanding Strategy for Competition Policies and Competitive Neutrality.
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Ministry of finance partners with international banks to secure $500m
The primary objective of this partnership is to implement health and educational projects.
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InstaPay to potentially launch remittance services in Jordan, UAE and Saudi
The CBE is still studying whether remittances transferred via InstaPay will be credited to Egyptian accounts in local or foreign currency.
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Egypt, Saudi Arabia pen MoU to boost cooperation in financial policies
The MoU includes the launch of a high-level dialogue between the ministries of finance.
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Egypt's annual core inflation decelerates 1.6 percent in October
Egypt's annual core inflation rate decelerated by 1.6 percent in October, recording 38.1 percent, down from 39.7 percent in September.
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Banque du Caire launches electronic signature service for companies, financial institutions
Tarek Fayed, Chairperson and CEO of Banque du Caire, highlighted the importance of this step in providing banking services to the bank’s clients.
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Taly to launch corporate payment platform next month: CEO
Taly, a company that specializes in digital payment solutions backed by Banque du Caire, is planning to launch a new platform for corporate payments.
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Government plans to sell HHD to strategic investor
The evaluation process has estimated the HHD’s value at around EGP 20bn, while the current market capitalization of the company is about EGP 15.9bn.
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Egypt's annual inflation eases to 38.5% in October: CAPMAS
Egypt's annual headline inflation has declined significantly, reaching 38.5 percent, down from 40.3 percent in the month prior.
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Themar posts 108% YoY profit increase in 9 months: Egypt
Net profits after tax amounted to EGP 15.907 million, up from EGP 7.661 million in the first nine months of 2022.
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ALEXBANK signs with Network International to accelerate digital transformation
To provide a fully-fledged payment processing solution to support the bank’s digital transition.