Finance News
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Afreximbank Announces Talks with Egypt to join Platform for Commercial Transactions with Africa in Local Currencies
The official stressed that the accession of Egypt, led by the Central Bank and with the participation of a number of commercial banks.
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Egypt launched new phase of immediate cash payment initiative with LE 8.7B
Earlier this year, the Ministry of Finance launched the sixth phase of the immediate cash payment initiative with planned investments worth LE 10bn.
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The effects of digital transfers on Egypt's economy
Remittances are a crucial source of income and foreign currency in Egypt, often serving as the only financial safety net for low-income households.
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Saudi Arabia’s VMS acquires minority stake in Egypt’s Cash Cows
The partnership aims to connect Egypt’s and Saudi Arabia’s startup and entrepreneurship market and also help in mobilizing resources and expertise.
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Targets of Egypt’s IPO program achieved: Elsaid
Moreover, she referred to the completion of a number of transactions under the program.
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MSCI mentions possibility of reclassifying Egyptian indexes
Morgan Stanley Capital International (MSCI), an investment research firm, recently released a report discussing the potential reclassification.
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Egypt ascends six spots in Sustainable Development Report 2023 rankings
El-Saeed added that the report indicates Egypt's progress in the Sustainable Development Goals Index for 2023.
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Egypt's central bank keeps interest rates steady
Economic growth meanwhile eased to 3.9% in the fourth quarter of 2022 from 4.4% in the third quarter, the MPC said.
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Flutterwave eyes Egypt’s cross-border payments market as it plans IPO
The payment company hopes expanding and deepening its market coverage will also be a boost for its IPO appeal.
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CBE: Banks to Take Official Leave on Occasion of Eid Al-Adha
The Central Bank of Egypt (CBE) decided to suspend work in all banks, starting from Tuesday, June 27, until Monday, July 3.
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Egypt’s Agel raises pre-Seed round for its Sharia-complaint fintech platform
The newly raised funds will be deployed to allow Agel to become a licensed non-banking financial institution, fine-tune its product, and accelerate it
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Japanese amb.: $110,000 to support Egypt’s small enterprises
Japanese Ambassador to Egypt Oka Hiroshi said Tuesday his country will provide a grant worth 110,000 dollars to Egypt.
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Egypt extends open invitation to Austrian investors for lucrative business ventures
Egypt's Minister of International Cooperation, Rania Al-Mashat, called upon Austrian companies to explore investment opportunities in Egypt.
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Egypt to introduce LE20 polymer notes before Eid al-Adha
The Egyptian State Information Service announced the release of a new LE20 polymer banknote ahead of Eid al-Adha.
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Why did Egypt’s inflation increase again in May? CBE answers
The annual food inflation increased to 60% in May 2023, and annual non-food inflation continued to increase to record 19% in May 2023.
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Egypt slams The Economist’s report on Egyptian affairs
The SIS on Monday summoned the correspondent of The Economist to hand him a letter criticizing the report.
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IMF urges Egypt to address FX reserves leakage and multiple exchange rates
International Monetary Fund (IMF) Managing Director Kristalina Georgieva said that Egypt needs to work on preventing the leakage of foreign exchange.
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Private equity funding to Egypt surged 79% in 2022, a report indicates
Private equity funds injected a record $877 million into Egyptian companies in 2022.
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Paymob and Chefaa lead digital transformation of pharma retail payments in Egypt
Customers Benefit from Streamlined Transactions and Secure Payment Experiences.
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1.6 mln citizens benefited from Tahya Misr Fund in Q1 2023
Some 1.6 million Egyptians benefited from Tahya Misr Fund social initiatives in the first quarter (Q1) of 2023, read a cabinet statement on Monday.