Finance News
-
EGP to witness its 4th depreciation against USD by June: Fitch Solutions
Fitch Solutions said that the fourth Egyptian pound devaluation will occur in the context of progress on the divestment strategy Egypt is enacting.
-
CBE Updates Licensing, Control Rules for Currency Exchange Companies
This comes in line with developments in the work of the exchange companies sector, supporting their performance and enhancing efficiency.
-
Egypt’s real GDP to reach 4.1% in 2023: Ministry of Finance
The report pointed out that the target budget deficit rate by the end of June 2023/2024 is 6.5 percent of the GDP.
-
Egyptian Central Securities Depository launches bond clearing activity
ECSD signed a memorandum of understanding (MoU) with the Egyptian Tax Authority to set the rules governing the application of agreements.
-
Egypt, Oman Agree to Eliminate Double Taxation this Month
This agreement is expected to strengthening economic relations and tax cooperation between the two countries.
-
Four banks offer highest return on dollar savings certificates in Egypt
US dollar savings certificates for 2023 are available with different returns and various purchase limits starting from $100 per certificate.
-
Four Egyptian firms among 100 fastest growing businesses in Africa 2023
Four Egyptian firms have made the list for the 100 fastest growing businesses in Africa in 2023 according to the second annual ranking.
-
Scenarios for CBE decision on interest rate in Egypt
Many citizens and investors are awaiting the Central Bank of Egypt’s meeting, next central bank meeting is scheduled on May 18.
-
Egypt's finance minister responds to criticism from MPs on budget deficit
Egypt's Minister of Finance Mohamed Maait was in the hot seat on Wednesday and Thursday to respond to attacks he faced from MPs.
-
Will Egypt be removed from MSCI indices?
Morgan Stanley, the global equity indices firm, recently published an unusual assessment of the Egyptian economy in its MSCI indices.
-
Moody’s puts Egypt’s B3 ratings on review for downgrade
The credit ratings agency has also placed the country’s B3 foreign currency senior unsecured ratings.
-
Egypt's annual inflation eases for 1st time in 10 months
Annual headline inflation dropped to 31.5 percent in April, down from 33.9 percent in March, recording the first monthly deceleration in 10 months.
-
Moody’s place Egypt on review for downgrade
The review period will focus on the government's ability to finalize the targeted $2 billion in asset sales necessary to meet the IMF program targets.
-
Egypt Approves Agreement to Eliminate Double Taxation with Qatar
The application of the agreement in Qatar on income tax and corporate tax includes the “Qatari tax”.
-
Egypt’s Fintech Balad Secures Seven-Figure Pre-Seed Fund Round Led by Acasia Ventures
The investment will be used to launch Balad’s remittance platform, develop its technology, hire new team members, obtain required licenses and more.
-
Naguib Sawiris defends brother’s move to suspend investment in Egypt
Egyptian billionaire Naguib Sawiris defended his brother Samih following outrage after Samih announced he would suspend his investment in Egypt.
-
The World Bank’s new strategic partnership with Egypt through 2027
The World Bank (WB) is among the international partners that Egypt relies on to bridge its $17 billion financing gap through FY2025/26.
-
Proparco, a French firm, invests $5 million in Egypt’s fintech sector
DisrupTech Ventures wants to give seed funding to up to 28 startups, with a main focus on those that offer services related to financial technology.
-
Egypt revises up budget deficit estimate to 6.9% of GDP in FY2023/24
Egypt expects to attain a 4.1 percent real GDP growth in FY2023/2024 and a primary surplus of 2.5 percent of the GDP.
-
Egypt's GAFI wins 1st place in MENA at AIM 2023 Global Awards for 5th consecutive year
The GAFI chairman and the Emirati ambassador also discussed establishing partnerships in African markets to capitalize on trade agreements.