Finance News
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Egypt "Largest Recipient" of Official Development Assistance in Africa- AfDB
Egypt leads African countries in terms of obtaining development funds in 2021, at a value of $8.2 billion.
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Deal to make EGP-denominated debt “Eurocleared” close to finalized
Egypt has been working towards meeting clearinghouse Euroclear’s conditions since signing an agreement in 2019.
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Egypt's e-government system gets 8 mln euro grant from Germany's GIZ
Egypt's development portfolio currently comprises 34 projects worth $1 billion, with several partners involved.
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CBE Instructs Banks to Suspend Use of Prepaid Cards for Int'l Transactions
The foreign currency crisis currently facing Egypt has led banks to reduce the limits on all types of bank cards for international transactions.
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Egypt, Rawanda to Settle Payments within "Equal Deals" Mechanism
This came during a meeting held by the minister with Alfred Gakuba Kalisa, Ambassador of Rwanda in Cairo to discuss cooperation.
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What will happen to Egypt’s debt if US dollar hits LE38?
Egypt’s foreign debt increased by 5.2 percent during the last quarter of last year to reach US$162.9 billion at the end of December.
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161% increase in net profit of Suez Canal Bank in 1Q 2023
He added that this was supported by an increase in net income from returns by 90% to reach EGP 707m in March.
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Egypt's parliament approves increase in annual income tax exemption
Parliament approved amendments to the Income Tax Law no.91/2005 to raise annual income tax exemption to EGP 36,000 up from EGP 24,000.
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Banque Misr secures $260 mln loan from IFC to uplift MSMEs
Banque Misr will receive a $260 million loan from the World Bank's (WB) financial arm, the International Finance Corporation (IFC).
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ValU partners with Telda
To offer instant cash redemption and installment solutions to users of “Sha2labaz” in the first-of-its-kind digital offering in the Egyptian market.
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AfDB highlights Egypt’s easing inflation, lowers avg. inflation rate forecast for next FY
Egypt’s GDP is expected to grow to 4.8 percent in FY2023/2024, slightly higher than the previously forecasted 4.4 percent for the current fiscal year.
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Egypt sells treasury bills worth LE46 billion, at interest rate of 23.8%
Egypt’s Finance Ministry accepted about 453 bids to sell treasury bills put forward by the Central Bank of Egypt in its last bid on Thursday.
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Why is Egypt ranking on investor confidence index important?
It's the first time the report has a separate ranking for emerging markets, and Egypt being on it is very significant.
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Egypt Prepares to Launch Investment Company for Expatriates Abroad
PM Mostafa Madbouly held a meeting Sunday to review the features of the proposal submitted by a number of investors abroad.
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Parliament’s Plan Committee nods to raising income tax exemption limit
Raising the income tax exemption aims at saving state costs of nearly EGP 10 million.
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First Abu Dhabi Bank Egypt launches ‘Access’ portal for electronic payments
The “Access” portal is the latest electronic payment solution that suits the needs of all business categories.
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Head of Egypt’s central bank calls on AfDB to expand concessional loans to member states
Governor of the Central Bank of Egypt (CBE) Hassan Abdallah urged on Friday the African Development Bank (AfDB) to increase its lending to members.
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Egypt has integrated, full-disclosure programme to attract private sector investment
The private sector had, over the past decades, a dominant share in the gross domestic product, ranging from 70 to 80%. That is until 2011.
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INTERVIEW: Confronting global crisis ‘not an easy matter’ for Egypt
Feried Belhaj, vice president for the Middle East and North Africa at the World Bank, discussed the ongoing crises impacting the global economy.
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Egypt’s Intella relocates headquarters to Saudi Arabia after KSA’s AI boom
Kingdom is becoming a hub for tech companies, says Intella CEO and founder Nour Taher.