Finance News
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Egypt Splits Investors Over Default Risk After Devaluations
The market is in disarray in navigating what’s become a once-a-decade crisis in the Arab world’s most populous country.
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Global e-payment giant Visa opens new office in Egypt
Global e-payment giant Visa opened a new office in Egypt to support the country’s digital transformation towards a cashless economy.
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UK investments in Egypt reached $21.5B, says Trade Minister
Trade exchange rates between Egypt and the UK have recently significantly improved, reaching almost GBP 3.4 billion in 2022.
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Egypt and Croatia Sign Agreement to Prevent Double Taxation
Egypt and Croatia have signed a double taxation agreement aimed at enhancing economic, trade, and investment relations, according to Finance Minister, Mohamed Maait.
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Non-banking financing reaches LE200B in Q2 of 2023: FRA
The value of stock issuances topped the list in non-banking financing, amounting to LE 97 billion in Q2 of 2023, taking the total non-banking financing to about LE 200 billion.
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How Egypt achieved comprehensive economic development in 10 yrs
Egypt's Ministry of Planning and Economic Development has been effectively working towards achieving comprehensive economic development over the past decade.
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43% of Egypt's SMEs confident about growth in 2023: Mastercard report
About 43 percent of Egypt's small and medium-sized enterprises (SMEs) are confident about their ability to grow in 2023.
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Italy cancels $100 mln in debt owed by Egypt
This debt swap program between Egypt and Italy serves as a framework for bilateral development cooperation.
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CBE Completes 3rd Phase to Develop Gov't Securities Market
These procedures contribute to developing, revitalizing and raising the efficiency of dealing with government debt instruments.
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CBE reports total financial position of banks operating in the local market at LE 13.79tn
The Central Bank of Egypt reported that banks in the Egyptian market recorded cash balances of nearly LE 106.241 billion in June 2023. With the local and foreign banks accounting for LE 2.326 trillion and LE 308.623 billion, respectively.
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Egypt and IMF Agree To Merge First Two Reviews Of Economic Reform Program
Egypt has agreed with the IMF to combine the first two reviews of its economic reform program, after the first review experienced multiple delays due to questions over Egypt's progress.
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Egypt to host 8th meetings of Asian Infrastructure Investment Bank in Sharm El-Sheikh
Egypt will host the 8th annual meetings of the Asian Infrastructure Investment Bank (AIIB) in Sharm El-Sheikh on 25 September.
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Egypt: Driving financial independence
As the first licensee of consumer finance in Egypt, Contact has played a pivotal role in growing the non-bank credit sector.
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Egypt’s central bank holds interest rates steady amidst inflation concerns
The central bank's pause on interest rate changes signals a cautious approach to addressing the country's economic challenges.
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Egypt to launch $5bln in projects to boost economic growth
The government will implement a package of 27 reform measures divided into three main areas: asset sales and IPOs, attracting private investments.
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Saudi Egyptian Investment Company Acquires More Stakes in E-Finance
The Saudi Egyptian Investment Company (SEIC), the Egyptian investment arm of KSA’s Public Investment Fund (PIF), is set to increase its stake in state-owned FinTech e-Finance from 25% to 28%.
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Egypt's banks set for four-day holiday to celebrate Moulid El-Nabi
The Central Bank of Egypt (CBE) announced on Wednesday a four-day holiday for banks, starting 28 September, to celebrate the Moulid El-Nabi.
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Egypt raises GDP Growth Target for FY2023/2024 to 4.4 percent
Egypt has increased its economic growth rate target for the fiscal year (FY) 2023/2024 to 4.4 percent from the previously targeted 4.1 percent.
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Head of Egypt's new capital sees IPO in first half of 2024
Egypt plans to float 5 to 10% of the shares of the company building its new capital east of Cairo in the first half of 2024, according to the company's chairman.
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Egypt: MSMEDA, Tamweely join forces to support micro-projects in desert villages
The contract aims to expand and establish micro-projects in 30 desert villages in four governorates: Kafr El-Sheikh, Beni Suef, Minya, and Aswan.