Finance News
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Egypt Launches First Gold Bullion ATM
Egypt has taken a significant step towards digital transformation and financial inclusion with the launch of its first ATM for gold bullion sales.
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Egypt targets $6.5bn revenues in 2024 from government IPO program, official says
During his participation in the session, Maait indicated that Egypt is also chasing financial policies that support productive and export activities.
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Will Egypt's IMF bailout dispel domestic money fears?
Analysis: The huge IMF bailout could ease Egypt's upcoming external debt burden but risks new austerity measures that will hurt the poorest in society
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Int'l partners' funding for Egypt reaches $10.3B over 4 years
Al-Mashat noted that this funding includes both developmental aid and investments in the private sector, along with technical support.
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Egypt central bank introduces measures regulating credit card use overseas
Customers who fail to provide documented evidence of credit card use during their stay abroad within a max of 90 days will be subject to measures.
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World Bank investments in Egypt amounts to $26B across 175 projects
This announcement was made during a meeting between Egypt's Prime Minister, Mostafa Madbouly, and the President of the World Bank, Ajay Banga.
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Egypt, UAE sign complementary protocol to avoid double taxation
This should be done through encouraging investment and deepening the private sector’s contribution to the course of development.
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IMF anticipates increase in support to Egypt will be ‘large in size’
Georgieva noted that the fund seeks “To give a dose of confidence to the Egyptian economy by enhancing the size of the support program.”
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Egypt Poised to Become the Next Digital Payments Leader in the Middle East after UAE
Mastercard aims to revolutionize Egypt's digital payments, targeting the $20.6 billion market.
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Egypt’s Minister of Finance assures no increase in tax rates
Tax exemption limit will be raised by 33 percent to reduce the burden on all state workers, including the private sector, on March 1.
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Devaluation will raise pound to LE45-50 against USD: JP Morgan
JP Morgan expects that any currency adjustment will be accompanied by an increase in deposit interest rates by an additional 2 percent.
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IMF Chief: Multiple Exchange Rates in Egypt are “Disastrous”
Georgieva criticized Egypt’s use of multiple exchange rates, calling them detrimental and urging the country to adopt a market-based system.
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Visa, Egyptian Banks Company partner to streamline remittances for expats
EBC manages and develops various domestic payment ecosystems in Egypt, including the Instant Payments Network (IPN) and the InstaPay application.
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Egypt's Annual Inflation Slows To 31.2% In January Amid Looming Devaluation
Prices rose by 1.7% in January compared to December, up from 1.2% in the previous month.
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Top 20 banks in Egypt
Egypt's banking sector remains dynamic amidst evolving economic landscapes, demonstrating resilience and agility in the face of challenges.
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President Sisi Raises Minimum Wage by 50%
President Abdel Fattah El-Sisi directed to raise the minimum wage by 50%, reaching 6,000 pounds per month.
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National Bank of Egypt increases interest rates for certificates in 2024
The change in the return rate on the NBE certificates of deposit came on Sunday, with the previous interest rate of 19.5 percent rising to 21.5.
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Egypt commences 2nd phase of economic reforms: PM
In recent years, the government has provided support amounting to approximately EGP 15.3 billion to small, medium, and micro enterprises.
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Foreign exchange shortage a key challenge now for Egyptian economy: ECSS experts
The US dollar shortage in the local market is really serious, as manufacturers and businesspersons can set neither their expense plans nor wages.
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Hong Kong’s InvestHK selects Egypt as North Africa representative office's headquarters
Egypt has set an ambitious plan to secure $100 billion in direct foreign investments between 2024 and 2030.