Finance News
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Demand for Egypt's sovereign USD bonds rises in July
Egypt's sovereign US-dollar-denominated bonds experienced a slight increase in their returns on international markets, rising by over 1 cent.
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Egypt secures $1blnin financing from ITFC in 2023
The Islamic Cooperation for the Development of the Private Sector is collaborating with Banque Misr, Al Baraka Bank Egypt, and Faisal Islamic Bank.
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Egypt settles 65,000 tax disputes away from court: Finance Minister
More than 65,000 tax disputes, spanning seven years, have been settled away from court, said Finance Minister Mohamed Maait.
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Estafsar and Al Wataniya partner to boost insurance innovation in Egypt
The collaboration is a significant step in achieving Estafsar’s goal of increasing insurance penetration levels in Egypt above its current level.
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Is Egypt devaluing its currency anytime soon?
Speculations have gone viral about the possibility of Egypt devaluing its own currency.
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Egypt auctions EGP 40 bln T-bills on Tuesday
The Central Bank of Egypt (CBE) auctioned EGP 40 billion ($1.3 billion) in treasury bills (T-bills) in two maturities on Tuesday.
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Egypt’s financial leasing sector hit by inflation and high-interest rates
To curb inflation, which hit record levels, reaching about 40.3% last May, the Central Bank of Egypt raised the interest rate by 10%.
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Egyptians Withdrew EGP 35.2 Billion from ATMs in Two Weeks
Withdrawals reached their climax on Sunday, June 25, with more than 1.6 million withdrawals at an amount of EGP 4.22 billion pounds in one day.
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Egyptian brokerage firms aim to expand in Gulf markets
The Gulf Cooperation Council markets accounted for 21% of global subscriptions in 2022, compared to only 2% in 2021.
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Naguib Sawiris raises attention after tweeting solution for public sector losses
Egyptian businessman Naguib Sawiris turned heads after a tweet he posted regarding the solution he sees for the losses of companies.
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Egypt's FY 2023/24 budget: Key points at a glance
Egypt's new budget for FY 2023/24 takes effect on 1 July, with higher revenues and expenditures forecasted by the government.
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Egyptian startups to digitally transform pharmacies
Also stationed in Cairo, financial service Paymob was founded in 2015 and has 40 payment methods available for businesses to choose from.
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Egypt-IMF deal stalls as devaluation rides on FX supply boost
When Egypt agreed a $3bn, 46-month financial support package with the IMF back in December, it vowed to adopt a flexible exchange rate regime.
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Egypt allocates EGP 202 bln to pensions in 2023/24
Egypt is allocating EGP 202 billion ($6.54 billion) of its budget for the fiscal year 2023/24 to pensions, a six percent increase compared to 22/23.
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Finance Min.: EGP 50 Million of Coins Offered to Avoid Change Shortage on Eid al-Adha
The minister added that the Treasury and Mint Authority witnessed during the past few years an unprecedented boom in the field of "digitization".
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Fitch Solutions warns of high inflation rates in Egypt
Inflation remains a major concern for Egyptians and will lead to a sharp rise in borrowing costs, warned Fitch Solutions, one of the Fitch Ratings com
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Banque Misr taps Talabat Egypt to provide financial and non-financial services MSMes
For the bank’s Head of the SMEs and Microfinance Sector Amr Demerdash, the agreement is part of Banque Misr’s strategy to support projects.
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Egyptian Gov't aims to increase FDI to $16 Bln by FY 25/26
The parliamentary report confirmed that the state’s plan aims to stimulate commodity exports to exceed $58 billion in 2024/23.
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CBE Pumps EGP 2 Billion of New 20-pound Polymer Note
The Central Bank of Egypt (CBE) pumped EGP 2 billion of the new 20 paper banknote, ahead of the Eid al-Adha holiday.
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AIIB to provide a guarantee of more than $200M in Egypt’s green panda bonds
Egypt is considered the first African country to issue panda bonds on the Chinese market and it plans to raise the equivalent of $500 million.