Finance News
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How can Egypt remove obstacles to investments?
Egypt will hold an economic conference between 23 and 25 October to discuss the problems facing investors and solutions to them.
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How will Egypt’s decision to maintain interest rates, raise reserve requirement affect the economy?
CBE recently decided to keep interest rates unchanged and raise the Reserve Requirement (RR) ratio for the first time in five years.
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Private sector’s contribution to Egypt’s economy 70-75%
President Abdel Fattah El-Sisi affirmed that the state is keen to remove all obstacles facing investors.
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Egypt's import squeeze hobbles economy as dollars run short
The nation's bill for wheat and oil soaring and with it the need for dollars, and crushed tourism from two of its largest markets - Ukraine and Russia
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14th Creative Industry Summit launches under theme ‘Creative Economy’
The summit is expected to host a selection of international, regional, and local experts in their respective fields.
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Egypt’s CBE maintains key interest rates
On the global level, the CBE said that forecasts for global economic activity have been dampened due to the conflict between Russia and Ukraine.
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Egypt's economy achieved positive growth rates in 2021/22
Egypt achieved a primary surplus in FY 2021/2022, amounting to 1.3 percent of GDP.
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POLL-Egypt's central bank to raise interest rates by 100 bps
The median forecast in a poll of 15 analysts is for the bank to raise its deposit rate to 12.25% and its lending rate to 13.25%.
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Egypt’s SWF signs deals on EGP 25.5 bln projects
The Sovereign Fund of Egypt (TSFE) implemented or signed binding deals to execute 10 projects worth EGP 25.5 billion in 2021.
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Egypt’s economy tripled in size over past six years
Egypt’s GDP growth is expected to moderate to 5.5 percent in the current FY 2022/2023 and to five percent in FY 2023/2024 owing to the war in Ukraine.
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Egypt considers offering $6bln stakes in public companies on stock market
The first tranche of the planned IPOs will be worth a range of between $2.5 and $3bln and will be announced within four weeks.
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EBRD supports Egypt’s green economy with $100m loan
The loan follows the success of the Green Economy Financing Facility (GEFF) in Egypt and will support an expansion of green lending.
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Egypt's annual inflation rate up by 16.7% in August
The Central Bank of Egypt (CBE) announced that the annual inflation rate rose by 16.7 percent in August, compared to 15.6 percent in July.
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EBRD President Says Bank Invested $10 Bln in Egypt
EBRD President added that Egypt is going through a period of transformation that is highly competitive.
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Madbouly calls for resumption of development programme between Egypt and World Bank
The development program between Egypt and the World Bank needs to resume in the nearest possible time, in light of the current economic crisis.
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Egypt's Housing & Development Bank sees over $1mln block trading deal
In the first half of 2022, HD Bank reported higher consolidated net profits by 29.9% annually.
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Egypt’s GDP grew to over 410 bln USD
GDP in the fiscal year from July 1, 2021 to June 30, 2022 increased more than three times from the fiscal year 2013-2014.
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13 banks in Egypt report EGP 21.778bn net profits
CIB tops list in terms of net profit at EGP 7.773bn, followed by QNB Alahli by EGP 4.754bn.
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Egypt's investments in Africa up to $10.2 bln
Egyptian investments in Africa rose by $1.2 billion in 2021 to $10.2 billion, and trade volume with Ivory Coast has risen to $149 million.
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Egypt eyes issuance of $500mln panda bonds in Chinese market
The Ministry of Finance hopes to enter the Chinese market for the first time before the end of the current fiscal year, Kouchouk added.