Finance News
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CBE to issue $540m worth treasury bills
New issuance’s proceeds will be pay off previous bid that was put forward on 8 June 2021.
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Egypt raises customs dollar exchange rate to EGP 18.64
The Ministry of Finance raised the customs dollar exchange rate to EGP 18.64 from EGP 17 starting Wednesday's transaction.
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Egypt hosts IsDB’s annual meetings for first time since 1990s
The annual meetings of the Islamic Development Bank (IsDB) Group kicked off on Wednesday in Sharm El-Sheikh, Egypt hosts for 1st time since 1991.
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Egypt’s private sector to sell $120m-200m in green bonds
The government is looking actively to fund a series of mega projects announced over the last few years.
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Egypt GDP topped 5% in Q1
She also said the economy would grow around 6% in the 2021-22 fiscal year, which ends in June.
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CBE raising interest rates by 2% explained
MPC decided that raising policy rates is necessary to contain inflationary pressures, which is consistent with achieving price stability.
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Egypt has 85 projects to adapt to climate change
The projects are under the portfolio of the Ministry of International Cooperation, with a total cost that reaches close to $12 billion.
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HSBC launches $1bn lending fund for female entrepreneurs in Egypt
This comes alongside the introduction of the ‘HSBC Roar Initiative’, which enables female entrepreneurs to access a series of masterclasses.
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Egypt’s Sovereign Fund becomes a full IFSWF member
The International Forum of Sovereign Wealth Funds (IFSWF) is a global network of sovereign wealth funds from over 40 countries.
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Egypt's economy loses USD 7 billion due to Russia-Ukraine war
Before the beginning of Moscow's operation in Ukraine, Egypt had been importing 42 per cent of its grains from Russia and Ukraine, Madbouly said.
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Egypt announces plan to boost economy against global crisis
The Prime Minister explained that foreign direct investments decreased due to the global economic and the Russian-Ukrainian crises.
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Fitch Solutions revises Egypt’s real GDP growth slightly
Fitch Solutions revised up Egypt’s real GDP growth forecast by 0.1 percent for 2022 to reach 5.6 percent, up from the 5.5 percent it projected April.
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MDI aims to become Egypt’s first fully digital bank
A new banking challenger, Misr Digital Innovation (MDI), is gearing up for launch in Egypt as the country’s first fully digital bank.
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Egypt plans to issue Chinese Yuan-dominated bonds
Minister of Finance Mohamed Maait announced that the government is considering issuing Yuan-dominated bonds that will target Chinese market.
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Q&A on Egypt’s FY 2022/23 budget
On 1 July, Egypt’s FY 2022/23 budget will be rolled out with a total value of EGP 9.2 trillion, the highest in the country’s history, growing by 16.3.
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EBRD upgrades Egypt’s GDP growth forecasts in FY2021/22 by 0.8%
The European Bank for Reconstruction and Development (EBRD) raised its projections for Egypt’s GDP growth for the current FY2021/22 to 5.7 percent.
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Egypt’s non-oil economy continues to fall amid inflation
The reading still records under the 50 threshold limit, marking the second-fastest decline in business conditions since June 2020.
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Egypt to delay sale of state company shares until Sept
Egypt will delay the planned offering of shares on the stock exchange of a number of state companies until after the summer vacation.
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S&P affirms Egypt's credit rating at B/B with stable outlook
Both the short term rating and the local currency short term default rate stand at B, while the country ceiling is B+.
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ABE completes preparations ahead of wheat harvest season
The bank is also facilitating supply operations from farmers and receiving all wheat supplied from them.