Finance News
-
Egypt aims to increase portfolio with Asian Infrastructure Investment Bank to $40 bln
Egypt is looking forward to expanding the cooperation portfolio with the Asian Infrastructure Investment Bank to $40 billion covering 220 projects.
-
Egypt’s Glamera obtains fintech license to expand in Saudi Arabia
The startup has tens of thousands of users and hundreds of providers in Egypt, and is also active in Riyadh, Saudi Arabia.
-
Mastercard and Ingiz team to launch digital payments app in Egypt
The company encourages young users to earn, save and spend money with gamified in-app features.
-
Egypt: MSMEDA finances 302,000 projects with $288mln in 18 months
The agency financed 222,000 projects in 2022 with $220mln, creating 370,000 jobs.
-
Egypt seeks to collect $5 bln from state IPO program by mid-2024
The Egyptian government is planning to attract $5 billion from the offering of power plants and state-owned companies from October 2023 until end 2024
-
Western fears about the membership of Egypt and developing countries in the BRICS
Joining the BRICS will also reduce the dollar’s dominance in payments, which was discussed in previous summits.
-
Sisi directs gov't to issue incentives including tax breaks to back strategic industries
Egypt’s President Abdel-Fattah El-Sisi directed the government on Sunday to implement a package of incentives, including tax exemptions.
-
President al-Sisi ratifies revocation of laws related to some banks
President Abdel Fattah al-Sisi on Sunday ratified law no. 170 of 2023 on the revocation of laws related to the establishment of some banks.
-
Expert reveals the steps BRICS can take to reduce the US dollar’s dominance
Damaty noted that the currencies of some countries in the group are still not listed with the central banks of other countries within the BRICS.
-
Egypt hopes BRICS entry will lure foreign cash, but analysts counsel patience
The bloc, which includes Brazil, Russia, India, China, and South Africa, on Thursday invited Egypt and five other countries to join.
-
Ahmed El-Sheikh Named New Head of Egyptian Stock Exchange
El-Sheikh has held the position of Vice President of the Financial Regulatory Authority since August.
-
$6M loan granted to support young Egyptian entrepreneurs under EBRD’s YiB program
EBRD’s Youth in Business Program (YiB) is dedicated to supporting privately owned microenterprises or young entrepreneurs under the age of 35.
-
Islamic finance in Egyptian market exceeds EGP 600bn in 1H 2023: El-Beltagy
El-Beltagy added in a report issued Tuesday, that the volume of Islamic banking accounts for 5% of the Egyptian banking market.
-
Egypt financial authority introduces new rules easing startup financing
The Egyptian Financial Regulatory Authority (FRA) has introduced new regulations for the financial evaluation of startups.
-
Egyptian government primarily approves establishment of 'Tarboul' investment zone
The request submitted by GV Investment Group to establish an investment zone called Tarboul was primarily approved by the Egyptian government.
-
Economic crisis continues to take toll on Egyptian stocks as investors ask for risk premium
HSBC Bank said in a report that investors are still concerned about investing in Egypt, as the past four years witnessed a decline in interest.
-
Egypt enables companies to issue multiple sukuk with single regulatory approval
Companies in Egypt can now issue multiple sukuk with single approval from the Financial Regulatory Authority (FRA), according to the recent amendments
-
NBE, Banque Misr offer new dollar certificates
Banque Misr and the National Bank of Egypt are now offering up new US dollar savings certificates, characterized by high returns.
-
Premiums rise by nearly 29% in Egypt
Data from Egypt’s Financial Regulatory Authority showed that local insurers recorded a 28.9% year-on-year growth.
-
Due diligence on Egypt’s United Bank to kickstart end of September: CBE
The due diligence for the acquisition of the United Bank is scheduled to start by the end of September 2023.