Finance News
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Agricultural Bank of Egypt issues first eco-friendly credit card
The card was designed and produced in cooperation with VISA, G+D and i-Finance and is environmentally friendly.
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AFDB could have key role in offering Africa's priorities to int'l community
Maait's remarks came during his meeting on Wednesday with AFDB President Akinwumi Adesina, on the sidelines of COP 27.
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Euromoney Egypt Conference 2022 to take place on Dec. 7
The lead sponsors of the conference are Mashreq Bank and Standard Chartered. The co-sponsor is Citibank.
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Suez Canal Bank net profits jump to EGP 735m in September 2022
This represents a growth rate of 95%, supported by an increase in net income from the return by 17%.
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Fitch Solutions raises Egypt GDP growth projection in 2022 by 0.3%
The report lowered its expectations for the country’s inflation rate by 0.2 percent to 13 percent through the end of 2022, down from 13.2 percent.
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Egypt’s Banque MISR receives $160m from The African Development Bank to finance SMEs
The loan consists of a $130 million credit facility from the bank and $30 million from Africa growing together fund (AGTF).
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Egypt’s EGX30 hits highest level in 32 months
Egypt’s main index (EGX30) closed on Monday at the highest level in 32 months to surpass 12,000 points.
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Egypt’s annual inflation jumps to 16.2% in October
This surpasses the 15.7 percent mark registered in November 2018, the Central Agency for Public Mobilisation and Statistics (CAPMAS) announced.
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Qatar’s sovereign wealth fund deposits $1 bln into Egypt’s CBE
Qatar’s sovereign wealth fund, deposited $1 billion into the Central Bank of Egypt, to pave the way for the authority to pump new investments in Egypt
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Egypt, World Bank discuss launch of country strategy 2023/2027
The World Bank's active portfolio in Egypt is composed of 14 operations for a net commitment amount of $6.83 billion.
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Al-Sisi, IMF Managing Director discuss bilateral partnership
Meeting comes within IMF Managing Director Kristalina’s participation in COP27 in Sharm El-Sheikh
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EU provides support of up to US$300 mln to Egypt’s start-up sector
Ezz stressed the importance of supporting this sector due to the growing opportunities worldwide and in Egypt.
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COP 27 Kicks off in Sharm El-Sheikh
Every year, the conference is held on a different continent and Egypt offered to host the summit in Sharm El-Sheikh as a representative of Africa.
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Egypt’s Central Bank issues binding regulations to accelerate transition toward green economy
The regulation encompasses several pillars, including the establishment of an independent department for sustainability and sustainable finance.
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Nigeria, Egypt, South Africa are premier investment destinations in Africa
According to research firm Africa: The Big Deal, funding for startups in Africa more than doubled to $3.14 billion in the first six months of 2022.
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Business sentiments of Egypt's non-oil businesses hit record low
Only one out of every 25 businesses surveyed gave a positive outlook for the next 12 months.
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Egypt’s net international reserves rise by $214 million in October
Egypt's net international reserves (NIRs) registered $33.4 billion in late October, an increase of $214 million over its volume in September.
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Egyptian fintech Money Fellows raises $31 million
Money Fellows classifies its users as borrowers, savers or planners depending on their position in a ROSCA cycle and when they receive a payout.
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64 industrial projects launched within Egypt's 'Start' initiative
The main features of the initiative are tax exemption for five years, and offering lands for investors in the leasing system.