Finance News
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Egyptian consumer price inflation rises to 6.6% in September
The rate remains well within the target range of between 5% and 9% set by the central bank.
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Egypt’s microfinance market amounts to EGP 22.53bn
Tasaheel Co. accounts for 21.82% market share, with total financing of EGP 4.578bn.
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World Bank raises Egypt’s GDP growth forecast to 5.5 percent in 2021
The World Bank (WB) has raised its forecasts for Egypt’s real GDP growth for 2021 to 5.5 percent, up from 4.5 percent predicted in June.
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Egyptian Tax Authority meets stakeholders
Abdul Qader said, in a statement on Wednesday, that the Large Taxpayer Center is holding meetings with senior accounting and auditing offices.
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Egypt signs facilities worth $2 bln to finance green projects
The financing facilities were signed on for a term that complies with the principles of environmental, social and corporate governance (ESG).
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Egypt seeking $2 billion in syndicated loan
The Egyptian government has launched a 3-year syndicated loan with green and Islamic finance components with the aim to raise $2 billion.
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Egypt is EU’s biggest investment market in Africa
Christian Berger, the EU Delegation’s Ambassador to Egypt said there is a very strong and growing interest from European companies to invest in Egypt.
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US support for Egypt’s private sector
Chair of the Egyptian-American Enterprise Fund James Harmon explains its plans to help grow Egypt’s private sector to Doaa A. Moneim.
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Egypt to borrow EGP 633.25bn from local market
It comes as part of the government’s plan to borrow EGP 633.25bn from the local market during the second quarter (Q2) of fiscal year (FY) 2021/22.
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Egypt to get French funding for pioneer wholesale market
The wholesale market in Borg El Arab near Alexandria would be followed by the development of 14 similar markets in Egypt to improve food security.
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3 Egyptian banks to launch investment trust for fintech start-ups
The National Bank of Egypt, Banque Misr and Banque du Caire aim to launch a trust to support fintech start-ups with an overall EGP100bln capital.
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Nasser Alshaali appointed Chairperson of HSBC Egypt
A member of a number of private and public executive and board directorship roles in the region, Nasser brings a wealth of experience.
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Egypt’s state-owned e-finance to go public
The offering is anticipated to include a primary issue and sale of up to 177 million ordinary shares on the EGX.
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EBRD hands NBKE $25 mln loan to support Egypt’s energy
It also clarified that the European Union (EU) will support the financing to NBKE with up to €2.5 million of EU funds.
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Egypt top country in mergers and acquisitions
Egypt ranked third after the US and the UK in terms of M&A deal volume and first in outbound deals.
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Egypt’s external debt jumps to $134.8 bln
The general government remains the main obligor of all debts, accounting for around 59.7 percent of Egypt’s external debt, as it rose by $11.1 billion
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Commodity Exchange to start operation in Q1 2022
The Commodity Exchange has been established within the framework of the state’s plan to develop internal trade.
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Egypt to invest EGP 43bln in power sector
The power sector is a good indicator for the development of the whole economy as all the other sectors depend on it for their operation.
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Reda Abdel Kader appointed head of tax authority
Finance Minister Mohamed Maait appointed Reda Abdel Kader Gharib as the head of the Egyptian Tax Authority.
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Faisal Islamic Bank of Egypt's business volume reaches $8.02bln
The business volume of Faisal Islamic Bank of Egypt (FAIT) reached EGP 125.835 billion by the end of June 2021.