Finance News
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World Bank, AIIB funds to Egypt hit $720M
Egypt to lead the economic recovery in the Southern and Eastern Mediterranean region with a growth rate of 4.2 percent in 2021 and 4.4 percent in 2022
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Egypt's central bank issues LE 18.5B in T-bills
For the current fiscal year, the budget deficit is estimated to record 6.6 percent of gross domestic product (GDP).
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Egypt’s external debt increases to $137.9bn in June 2021
Long-term debt ($124.2bn) accounts for 90.1% of total external debt, whereas short-term debt ($13.7bn) accounted for 9.9%.
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Business activity in Egypt declines as inflation soars
The decline in business conditions was led by a reduction in output levels in November, IHS Markit said in its PMI survey.
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Egypt seeks to boost SMEs contribution to national economy
The committee is eyeing bigger contribution by SMEs to the national economy in order to reach 80 to 90 percent as in some major countries.
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Egyptian businesses predict double-digit revenue growth
HSBC’s Navigator: Voice of Business report, which polled over 7,350 decision makers, 83% of businesses expect profitability to grow in next 12 months.
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NBE launches ‘B2B’ e-payment service for corporates
Bank aims to expand e-payments in line with Central Bank’s direction towards digital transformation: Aboul Fotouh.
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Egypt to sign agreement on tax of giant technology companies
137 countries, including Egypt, joined this historic agreement announced by the Organization for Economic Cooperation and Development.
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Egyptian health sector receives support from the World Bank
World Bank participated in drafting the idea of the comprehensive health insurance law, its preparation & implementation in Port Said.
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Egypt to offer 5-6 companies on stock exchange before end of fiscal year 2021/2022
The remarks came during the fourth Egypt Day Conference titled “Shaping the Investment Landscape” organized by EFG Hermes.
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Egypt's economy grew by 9.8% in Q1 FY 2021-22
Egypt expects a GDP growth of 5.5-5.7% in FY 2021-22 that ends in June.
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Egyptian bank boards to grant 2 seats for women
The Central Bank of Egypt (CBE) decided that two seats in each of Egypt's bank boards will be reserved for women, CBE Governor Tarek Amer told MENA.
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EBRD approves €250 mln loan to establish Alexandria’s Abu Qir metro line
EBRD’s loan, alongside with other finances, will be utilised to transform Abu Qir’s railway to a green metro line.
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CBE receives 33 bids worth $1.766bn for T-bills tender
Proceeds of latest tender will be directed to pay for previous one worth $1.585bn put forward on 17 November 2020.
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Economic reform helped Egypt's economy confront COVID-19
Egypt, unlike many other countries, has faced coronavirus with economic resilience and flexibility that are necessary to confront the pandemic.
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World Bank: Egypt has potential to be a regional economic hub
World Bank Group approved a $360 million development policy financing (DPF) loan for Egypt that aims to support the country’s 2nd wave of reforms.
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HDB reports EGP 2.038bn profits before taxes in September 2021
Bank’s recent results reflect strong operational performance, developing clear strategy to be among top commercial banks: Ghanem
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Egypt's economic reforms attract French investments
French economists said economic reforms that Egypt has implemented over the past seven years strengthened the investment-friendly environment.
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CBE approves instant payment network regulations
Regulations aim to allow payments sent between accounts at different banks to be credited, debited instantly, says Rami Abulnaga.
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UNDP appoints Alessandro Fracassetti as Egypt’s resident representative
The United Nations Development Programme (UNDP) has appointed Alessandro Fracassetti as the new resident representative of the programme in Egypt.