Finance News
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Egypt: Banque du Caire registers $117.65mln in Q3-22 net profits
The bank's net income from returns grew by 19% annually in Q3-22.
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IMF loan will enhance economic growth, social protection
The new $3 billion loan to Egypt approved on Friday by the International Monetary Fund (IMF) will be used to support the country’s programme.
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Finance ministry getting ready to launch incentive program
Maait said that the program aims at creating a new tax culture that urges citizens to ask for a receipt from the shops.
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Saudi sovereign wealth fund in talks to acquire Egyptian bank for $600mln
The $620 billion sovereign wealth fund would carry out the transaction through the Saudi Egyptian Investment Company (SEIC).
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Ahli United Bank – Egypt Wins “Bank of the Year- Egypt” award
The Banker, an international financial publication, has awarded Ahli United Bank – Egypt as “Bank of the Year for Egypt in 2022” in London.
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Businessman Tarek El-Amin passes away due to his illness
The late businessman suffered from lung cancer. His medical case worsened after cancer emerged in his body, reaching the bones.
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10 things you need to know about Egypt new IMF loan
How many billions has Egypt received from the IMF so far? are there measures to protect the vulnerable? why devaluate the pound?
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IMF approves $3 billion Egypt loan to support ailing economy
The approval on Friday by the IMF executive board will enable an immediate disbursement of about $347 million.
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Germany provides €370 million to finance 16 projects in Egypt until 2024
This came after the ministry organized the Egyptian-German round of governmental negotiations for the year 2022.
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Qalaa Holdings’ consolidated revenue grew a remarkable 86% y-o-y to EGP 23.7bln in 3Q22
Recurring EBITDA recorded EGP 8.8 billion compared to EGP 1.2 billion in 3Q21.
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Damietta Containers and Port Said Containers to be listed on EGX in 1H 2023
CI Capital is serving as a financial adviser for the two offerings, while Fenby Financial Consulting will study their fair value.
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Molla, Lukoil discuss upping investments in Egypt
Molla stressed the importance of the years-long partnership and cooperation with the giant Russian oil company.
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Egypt, UN Women sign partnership deal to increase investments in care economy
The partnership also entails providing capacity-building to centers that offer services to working women.
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Egypt's President meets World Bank's David Malpass in Washington
Rady said that the consultations aim to support the national efforts in Egypt to preserve the path of comprehensive development.
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After raising interest rate by 50 bps, what will be the impact of the US Fed Reserve’s decision on Egypt?
The Federal Reserve abandoned an unprecedented series of decisions to raise interest rates by 75 basis points.
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MSMEDA, EU, AFD cooperate to develop informal settlements
Gamea praised the continuous cooperation between MSMEDA and the Ministry of International Cooperation in concluding agreements.
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Egypt's central bank extends deadline for upping banks' credit facilities portfolio to 25% for a year
The decision resulted in pumping EGP 117 billion to the MSMEs sector by the end of 2022.
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Gold prices decline after US federal's decision to raise interest rate
Spot gold was last down 0.30% to $1,80489 per ounce. U.S. gold futures fell 0.50% to $1,816.30.
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Saudi-based Jumlaty and Egypt’s Appetito merge into new entity, NOMU
Aiming to become Mena’s leading food-tech supply chain platform, NOMU is currently present in Saudi Arabia, Egypt, Tunisia and Morocco.
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Abou El-Enein: Sisi's initiatives bring civilizational transformation, investments to Africa
This came during his speech before the meeting of the high-level committee on increasing cooperation between the African and U.S private sectors.