Finance News
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Egypt expected to devalue the EGP... what if it doesn’t in the short term?
Citigroup anticipated that the Central Bank of Egypt (CBE) will hold any move on its currency until the end of current fiscal year, which ends on June
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IDSC says EGX leading financial institution in terms of capital market sustainability
EGX launched its sustainability index in accordance with the methodology of Standards & Poor’s, becoming the second in the world and the 1st in Africa
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CBE Governor: AfDB Plays Key Role in Promoting Economic Development within Continent
This comes within the framework of the Egyptian state’s keenness to strengthen and deepen cooperation with African countries in all fields.
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10 facts about the one year residency for investors
The government recently announced that foreign investors will be able to obtain one-year residencies in Egypt when establishing companies.
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Egyptians Can Now Open Bank Accounts without a Minimum Deposit
This comes in light of a larger set of initiatives that were launched on 27 April for Arab Day for Financial Inclusion.
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Egyptian remittances from Arab countries decline in FY2021/2022
Egyptian expats’ remittances from Arab countries declined in fiscal year 2021/2022, while trade with these same countries increased over 2022.
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Mastercard, GIZ Egypt, and ElRehla announce the launch of the third annual fintech retreat
Under the patronage of FinTech Egypt - an initiative by the Central Bank of Egypt - and the Financial Regulatory Authority.
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CBE gets ISO accreditation in business continuity management
The certification was awarded in recognition of CBE efforts to ensure the continuity of all its critical banking activities.
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Gov't Succeeded in Controlling Budget Items with Exception of Interest Expense
Interest expense is a non-operating expense shown on the income statement.
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Egypt grants foreign investors one-year renewable residency
Egyptian President Abdel Fattah al-Sisi in October ordered to grant the “Golden License” to all investors applying for it.
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CBE concludes preparations for annual meetings of AfDB in Sharm El-Sheikh
The event will witness the participation of AfDB governors representing 81 regional and non-regional member countries.
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Fintech Firm Axis Launches Digital Payments Platform for Small Businesses
With axis, small businesses can “streamline their payments to employees & suppliers digitally.”
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Egypt postpones flotation of pound for 60 days: Citigroup
This means that it may not take place during the current fiscal year which ends on June 30.
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Egypt's 2024 budget aims to encourage private sector to increase spending in infrastructure
The fiscal policy works to achieve comprehensive development at the economic and social level despite all the challenges
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Remittances from Egyptian expatriates see significant decline
The value of Egyptian remittances during the first half of the fiscal year declined to US$12 billion.
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Non-bank financial activities gain luster despite challenges
Companies operating in the non-banking financial sector rely mainly on borrowing from banks to finance their financial operations.
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Egypt’s Paymob expands its footprint into Saudi Arabia
Saudi Arabia’s fintech sector will soon get a new player with Egyptian cashless services provider Paymob.
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Thinking of Investing in Egypt? A New Portal for Investors Now Launched
The portal provides a variety of resources and services for investors, and that they are granted access to monthly investment opportunities.
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Egypt to announce state’s tax policies document within 3 months
Minister of Finance Mohamed Maait has already mandated an international consultancy office to set the document, Madbouly added.
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INTERVIEW: Investing in Egyptians key to success, says Egyptian-American Enterprise Fund chair
The US government-funded private equity Egyptian-American Enterprise Fund (EAEF) released its 10-year impact report this week.