Finance News
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Maait orders easing measures for electronically linking Nafeza, e-bills for taxes
Maait said it was decided that a permit period will be granted to emergency import cases to adjust their conditions till August 1.
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National family development project boosts inclusive economic growth and alleviates poverty
The funding is set to expand opportunities for women-owned micro-projects in various productive, commercial, service, handcraft, and heritage sectors.
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UNCTAD: Egypt 1st Investment Destination in Africa
This came in the report published by the Media Centre of the Council of Ministers that included infographics highlighting UNCTAD's report.
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Foreign exchange reserves increase to US$34.806 billion: Central Bank of Egypt
The CBE said that the value of foreign currencies included in the cash reserve rose to $27.044 billion at the end of June, compared to $26.686 billion
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Afriexim Bank: Egypt's Accession to African Payments System Boosts Import in Local Currency
Egyptian companies have an opportunity to capitalize on infrastructure projects in Africa that need more than $60 billion in funding.
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Egypt’s Masroofi raises $1.5 million
Egypt-based fintech Masroofi, has closed a $1.5 million investment round from undisclosed investors.
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Egypt’s PMI for non-oil private sector rises to highest in 22 months: S&P Global
Egypt’s Purchasing Managers Index (PMI) for the non-oil private sector rose in June to 49.1, up from 47.8 in May.
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Demand for Egypt's sovereign USD bonds rises in July
Egypt's sovereign US-dollar-denominated bonds experienced a slight increase in their returns on international markets, rising by over 1 cent.
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Egypt secures $1blnin financing from ITFC in 2023
The Islamic Cooperation for the Development of the Private Sector is collaborating with Banque Misr, Al Baraka Bank Egypt, and Faisal Islamic Bank.
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Egypt settles 65,000 tax disputes away from court: Finance Minister
More than 65,000 tax disputes, spanning seven years, have been settled away from court, said Finance Minister Mohamed Maait.
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Estafsar and Al Wataniya partner to boost insurance innovation in Egypt
The collaboration is a significant step in achieving Estafsar’s goal of increasing insurance penetration levels in Egypt above its current level.
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Is Egypt devaluing its currency anytime soon?
Speculations have gone viral about the possibility of Egypt devaluing its own currency.
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Egypt auctions EGP 40 bln T-bills on Tuesday
The Central Bank of Egypt (CBE) auctioned EGP 40 billion ($1.3 billion) in treasury bills (T-bills) in two maturities on Tuesday.
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Egypt’s financial leasing sector hit by inflation and high-interest rates
To curb inflation, which hit record levels, reaching about 40.3% last May, the Central Bank of Egypt raised the interest rate by 10%.
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Egyptians Withdrew EGP 35.2 Billion from ATMs in Two Weeks
Withdrawals reached their climax on Sunday, June 25, with more than 1.6 million withdrawals at an amount of EGP 4.22 billion pounds in one day.
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Egyptian brokerage firms aim to expand in Gulf markets
The Gulf Cooperation Council markets accounted for 21% of global subscriptions in 2022, compared to only 2% in 2021.
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Naguib Sawiris raises attention after tweeting solution for public sector losses
Egyptian businessman Naguib Sawiris turned heads after a tweet he posted regarding the solution he sees for the losses of companies.
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Egypt's FY 2023/24 budget: Key points at a glance
Egypt's new budget for FY 2023/24 takes effect on 1 July, with higher revenues and expenditures forecasted by the government.
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Egyptian startups to digitally transform pharmacies
Also stationed in Cairo, financial service Paymob was founded in 2015 and has 40 payment methods available for businesses to choose from.
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Egypt-IMF deal stalls as devaluation rides on FX supply boost
When Egypt agreed a $3bn, 46-month financial support package with the IMF back in December, it vowed to adopt a flexible exchange rate regime.