Finance News
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UAE Pumps Money Into Egypt as Food-Price Surge
A major food importer, Egypt’s been hit hard by record grain prices fueled by the Russian invasion.
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Egypt launches financial, social protection measures
Egypt’s Ministry of Finance approved on Monday a package of financial and social protection procedures, worth EGP 130 billion.
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Egypt's central bank raises interest rates
The Central Bank of Egypt has raised its key interest rate for the first time since 2017, citing inflationary pressures triggered by the coronavirus.
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Egypt has a new FinTech support fund
Egypt’s largest national banks — Banque Misr, National Bank of Egypt (NBE), and Banque du Caire — as well as Global Ventures launched “Nclude".
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Trade minister offers businesses 83 investment opportunities
Egyptian Minister of Trade and Industry Nevine Gamea offered 83 investment opportunities to locally manufacture industrial products during her meeting
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SMEs mainstay for economic growth
He made the remarks in a speech delivered on his behalf by CBE Deputy Governor Gamal Negm at a conference organized by the Arab Banks Union.
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Egypt, EBRD launch 2022-2027 country strategy
The new framework is based on a holistic scheme of an inclusive-green-growth nexus, which reflects Egypt’s role as a regional leader in its transition
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UAE bank's bid for Egypt's 'national champion' EFG may be too low
This is given the EFGH outsized influence over Egypt's financial markets and supercharged growth of its fintech businesses.
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Egypt’s banks provided EGP 253 bln in finances
Egypt banks extended finances worth EGP 253 billion to about 8,800 beneficiaries in the industrial, agricultural and construction sectors by end 2021.
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MSME sector accounts for 80% of Egypt’s economy
This is why the government is keen on strengthening cooperation with international partners on development programs in this regard.
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HSBC, Citi among banks selected for Egypt’s first islamic bonds
Egypt has named six international lenders, including Citigroup Inc. and HSBC Holdings Plc, to manage its first sale of sovereign Islamic bonds.
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Suez Canal Bank records 6% by end of 2021
he bank injected EGP 2bn into the initiatives of the Central Bank for Industry, Contracting, and Tourism.
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Field campaign to provide free support for tax payers
This comes within the finance minister’s directives in which the campaign will start in Gharbiya governorate.
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EBRD approves new country strategy for Egypt through 2027
The board of directors of the European Bank for Reconstruction and Development (EBRD) approved its country strategy for Egypt through 2027.
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Egypt weathers Covid’s repercussions
The World Bank praised the economy’s ability to mitigate Covid-19. Al-Ahram Weekly reviews Egypt’s Economic Monitor report.
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Egypt among top 10 investment destinations in Africa
Egypt’s economic growth rate increased by 9.8 percent in the first quarter of the fiscal year 2021-2022.
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UAE's FAB seeks to buy Egypt's top investment bank EFG Hermes
FAB has made a non-binding offer to buy at least 51% in EFG Hermes for 19 Egyptian pounds ($1.21) a share.
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Egyptian investment app Thndr nabs $20M
Replicating the success of Robinhood in the U.S., some platforms are looking to create investors out of the region. One such is Egypt-based Thndr.
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Egypt’s international reserves inch up to $40.98 bln
Egypt’s net international reserves (NIRs) edged up in January by $45 million to post $40.98 billion, up from $40.93 billion recorded in December.
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Egypt non-oil contraction deepens in January
January PMI data signaled a solid and faster deterioration in business conditions across Egypt's non-oil economy.