Finance News
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TSFE among largest 50 Sovereign funds globally: Egypt’s presidency
The TSFE aims to increase and develop the size and scope of investments in Egypt, with a focus on priority sectors for the development and growth.
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Egypt's GAFI to promote new online incorporation platform abroad
Egypt's General Authority for Investment and Free Zones (GAFI) is planning to promote its new online platform for establishing companies in Egypt.
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Egypt's central bank auctions €600 mln in treasury bills on Monday
The Central Bank of Egypt (CBE) auctioned €600 million ($656.29 million) worth of treasury bills on Monday, according to the bank's website.
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North Sinai has LE6.5B of gov’t investments in 2023/2024
The public treasury contributes about 44.6% of the amount to finance projects in the fields of agriculture, education, sanitation, drinking water, etc
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Egypt secured $2.1 bln loans to private sector in 2023
Egypt has secured $2.1 billion in concessional financing to the private sector from international partners since the start of 2023.
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IMF to review Egypt’s reform program twice in September
The IMF’s first review was originally scheduled for March, but failed to take place.
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Egypt lowers debt-to-GDP ratio in 2022/23 amid revenue surge
Egypt has lowered its estimates for the debt-to-GDP ratio to 95.6 percent for the fiscal year 2022/2023, down from 97 percent.
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Egypt joins Africa50 agreements to boost infrastructure development, financing
The Africa50 Fund aims to invest in infrastructure, focusing on sectors such as energy, transportation, information and communication and technology.
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Egypt under review for downgrade by Moody’s for 3 months
The agency based its recent decision on the structural reforms taken recently by the Egyptian government to stimulate investment.
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The Egyptian economy and the way out
One of the primary reasons for Egypt’s economic crisis is the persistent budget deficit.
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Egyptian banks poised for African expansion
This follows the increase in minimum operating capital required by the central bank, currently at E£5bn.
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Egypt's annual core inflation eases to 40.7 percent in July
Egypt's annual core inflation rate recorded 40.7 percent in July 2023, a slight decrease from 41 percent in June.
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Egypt Wealth Report 2023: The path to prosperity
The private Wealth market in Egypt is anticipated to experience substantial expansion. By 2030, its estimated value is approximately $731 billion.
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Egyptian pharma startup Grinta acquires counterpart Auto-Cure to expand footprint
Grinta is a managed marketplace that modernises the pharmaceutical supply chain by empowering independent pharmacies.
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Central Bank of Egypt partners with London Banking Institute for talent development
The MOU will focus on collaboration on talent development for the workers in the Egyptian financial sector,
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NBE offers buying EgyptAir tickets in installments over 12 months
In order to obtain the offer, the buyer should use the credit cards of the National Bank of Egypt to pay the first installment of the third month.
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Egypt’s Dominant Fintech Fawry Takes On SME Financing In Growth Push
Fawry has grown to become Egypt’s largest e-payments platform, valued at more than USD 2bn.
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UAE, KSA and Egypt Play Key Roles in Growing Middle East Fintech
The tech savviness of consumers in the Middle East, especially in the UAE, is a large reason the fintech industry has continued to grow.
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Egyptian Tax Authority, Industries Union unite for smooth tax-customs integration
He emphasised the significant technological advances made by both the Ministry of Finance and the Egyptian Tax Authority.