Finance News
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Egypt: aiBANK records $56.1mln revenues in 2022
As part of the reform and development restructuring, the bank has developed a clear strategy to invest in the human element.
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Fitch Downgrades Egypt to 'B'; Outlook Negative
Fitch Ratings has downgraded Egypt's Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to 'B' from 'B+'. The Outlook is Negative.
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Fitch's downgrade is the result of unrelenting external pressures on Egypt's economy: Maait
Fitch's downgrade of Egypt's Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to “B” – down from “B+”
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Is my money safe? What you need to know about bank failures
Recent turmoil in the banking industry may have you worried about your money.
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CBE, EBC, MasterCard cooperate to implement rules governing e-payment
The tokenization technology replaces private customer data such as the payment card account number with a token.
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Sidpec’s profits jump 107% in Q1-23 initial results
Basic earnings per share increased by 52.78% year-on-year.
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Egypt hosts World Bank's IFC summit to enhance women’s economic participation in MENA
Egypt hosted on Wednesday the International Finance Corporation's (IFC) summit on Law and Gender Conference.
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aiBANK Records Revenues worth 1.7bln During 2022
The bank has developed a clear strategy to invest in the human element through continuous human capital development.
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Egypt provides promising investment opportunities despite challenges: Golden Brokers
In addition, bonds, both government and corporate, are traded on the Egyptian exchange.
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Egypt’s current account deficit sees 77.2% drop
During most of 2022, import restrictions were in place to tackle the North African country's current account shortfall.
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IMF Says Egypt Is Serious About Applying Flexible Exchange Rate
Egypt agreed a $3 billion program from the IMF last year, but billions of dollars in extra financing expected to come.
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AXA Egypt plans to expand in Egyptian market this year: GM
The insurance sector in Egypt, one of the oldest of its kind in the Middle East and North Africa, is suffering a number of challenges.
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Egypt grants Exits MENA securities promotion, underwriting license
Exits MENA, an Egypt-based fintech investment platform, was granted a securities promotion and underwriting license from the FRA.
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Egypt’s NFAs deficit climbs by 7.3 percent in March says CBE
Total foreign assets in Egypt declined to LE 1.439 trillion ($46.5 billion) in March 2023 from LE 1.476 trillion ($47.7 billion) in February 2023.
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Mastercard teams up with Egypt’s CBE, EBC to develop tokenisation in local market
Tokenisation allows for seamless and secure digital transactions for millions of Egyptians, by replacing sensitive customer data with unique ids.
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Chinese Delegation Visit New Beni Suef to Discuss Investment Opportunities
Essam El-Din presented an overview of the city and its distinguished strategic location, only 2 km from the mother governorate.
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S&P downgrades outlooks on 3 Egyptian banks to negative
This follows the agency’s revision of its outlook for Egypt from stable to negative on April 21st.
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Fitch Solutions raises its forecast for Egypt’s inflation by 6.4% in 2023
Fitch Solutions has raised its forecast for Egypt’s inflation in 2023 to 32.3 percent, up from an average of 25.9 percent that it expected a month ago
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Japanese investments in Egypt rises 98.7% to reach $73.7m
Egypt exported goods worth $260.8 million to Japan in 2022, which included fuel, minerals, fruit, iron and steel products, carpets, and animal feed.
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Madbouly Discusses Investment Opportunities with ADQ in Coordination with Egypt's Sovereign Fund
The Prime Minister referred to a number of measures taken by the state within the framework of efforts to improve the investment climate.