Finance News
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Sisi to attend AIIB meetings in Egypt's Sharm El-Sheikh: Finance Ministry
Egypt's President Abdel-Fattah El-Sisi is scheduled to attend the inauguration of the Asian Infrastructure Investment Bank (AIIB) meetings.
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Egypt’s international reserves climb for 12th month in a row, reaches $34.9B in August
On a year-on-year basis, CBE numbers indicate a climb of 5.39% in August compared to $33.14 billion during the same month in 2022.
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Egypt inflation hits record high of nearly 40%
Annual inflation in Egypt hit 39.7 percent in August, official figures showed Sunday, an all-time high for the country.
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Egypt paid $52 billion in external debt over the past two years
Egypt has paid $52 billion of its foreign liabilities within the past two fiscal years (2021-22 and 2022-23), Finance Minister Mohamed Maait said.
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Egypt seeks to collect $1.5 bln in external financing by year end
The Egyptian government seeks to collect $1.5 billion in external financing before the end of 2023, Minister of Finance Mohamed Maait stated.
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Saudi investments in Egypt reach 32 bln USD
Al-Obaid stressed Saudi's interest in learning about Egypt's Vision 2030 and the plans to implement the vision's development goals.
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Egypt races to meet IMF requirements ahead of September scheduled review
As the second review of the International Monetary Fund's (IMF) $3 billion loan agreement with Egypt draws nearer.
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Tender announcement: Automated teller machines
Call for tenders for the supply, installation, operation, and guarantee of 1000 ATMs in Cairo.
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Egypt’s currency expected to be devalued after presidential elections
Egypt’s domestic debt increased by eight percent in the first quarter of 2023 to reach LE6.86 trillion ($222.18 billion).
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National Bank of Egypt inks $100 mln loan deal to fund imports from UAE
The National Bank of Egypt (NBE) has sealed a deal to secure $100 million from the Abu Dhabi foreign aid agency to fund Egyptian exports from the UAE.
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At least 15% of Banque du Caire shares to be offered for sale at $1 mln
Banque du Caire offers dollar savings certificates, or the Primo certificate in US dollars, with a return of up to 5.15 percent annually.
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Who Was Egyptian Business Tycoon Mohamed Al-Fayed?
Al-Fayed built a successful business empire before moving to the United Kingdom and coming to own different businesses and properties.
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Beltone Financial acquires Upper Egyptian Cash Microfinance
Beltone Financial Holding, a Cairo-listed investment company, announced that it signed the final agreement to acquire 100 percent of Cash Microfinance
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Croatia, Egypt to sign double taxation avoidance deal
The agreement will be singed during an official visit by Croatian finance minister Marko Primorac to Egypt, the finance ministry said.
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In a first, Egypt establishes real estate bourse
Egypt has made many efforts to enhance its real estate export, due to the urban development it has witnessed lately.
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IMF allegedly to delay upcoming loan review again, might mean EGP devaluation
The source stated that the delay could indicate another devaluation of the EGP before the end of 2023.
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Egypt targets $19bln private investment in 2023-2024
The level is higher than the 31 percent and 29 percent achieved in the previous two fiscal years, the report said.
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Afreximbank establishes main headquarters in Egypt's New Capital
Afreximbank's headquarters in the New Capital will be added to the seven others it has on the continent.
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CI Ratings revises its outlook on Egypt from negative to stable
Capital Intelligence Ratings (CI Ratings) lowered Egypt's long-term foreign currency rating and long-term local currency rating to 'B' from 'B+’.
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Egypt’s total foreign assets recorded at LE 1,475B, CBE
Net foreign liabilities rose to LE 2,287 billion in July, compared to LE 2,275 billion in June, the CBE reported in its release.