Finance News
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Egypt announces bylaws of new minimum wage system for public employees
The monthly minimum wages for general managers and first-category employees were set at EGP 7,000 and EGP 6,500, respectively.
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Egyptian pound price expected to drop by end of 2023
Since the Central Bank adopted a flexible exchange rate that reflects the state of supply and demand in the market.
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Egypt's economy seen growing 4% this fiscal year
Russia's invasion of Ukraine last year, which rocked tourism, raised commodity prices and prompted foreign investors to pull about $20bn.
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Egypt's stalled asset sales will add pressure on currency
Inability to improve the central bank's foreign exchange reserves will weigh on external liquidity.
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CBE auctions EGP 39.5 bln in T-bills to fund budget deficit
The Central Bank of Egypt (CBE) auctioned on Thursday treasury bills (T-bills) worth EGP 39.5 billion ($1.28 billion) on Thursday.
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EBRD approves new $100 mln loan for Banque Misr to finance MSMEs
In March, the EBRD’s Vice President for Banking Alain Pilloux told Ahram Online that the bank is projected to invest over $1.4 billion in Egypt.
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Egypt may need tighter monetary policy to tackle inflation: IMF regional report
Egypt and Tunisia increased interest rates consistent with their historical norms and less than the emerging market and developing economy benchmark.
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EGX participates in Building African Financial Markets (BAFM) Conference
As a keynote speaker, El-Dokany presented EGX’s vision of carbon markets especially after the establishment of EGX’s VCM during COP27.
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Egypt, Morocco, Ghana, and South Africa Rank among the top emerging markets for foreign investment
Egypt has also made strides to improve its investment climate, such as introducing a new investment law aimed at improving transparency.
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Private sector crucial to overcoming Africa’s critical investment gaps
The African Development Bank Group’s governors will address three strategic challenges when they meet next month for the group’s Annual meeting.
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IMF expects Egypt to contribute 1.7% to global growth
This places the North African country in the ninth rank among the largest countries contributing to the expansion of the world economy until 2028.
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President Sisi orders increasing social protection budget to LE 529.7B
He added that LE 8 billion were allocated for the treatment of citizens at the state’s expense at an annual growth rate of 14.3%.
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5 Ways the Conflict in Sudan Can Affect Egypt Economy
As a neighbor of Sudan with strong historical and cultural relations, how can this conflict affect Egypt’s economy? Here are 5 possible ways.
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S&P Lowers Egypt's Credit Outlook to Negative
S&P lowered its outlook on Egypt to negative from stable and affirmed their 'B/B' long- and short-term foreign and local currency sovereign credit.
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S&P lowered outlook on Egypt due to external pressures on economy: Finance minister
Maait explained that the war in Ukraine caused negative global economic repercussions resulting in unprecedented inflation.
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President El-Sisi directs gov. to contain effects of global economic crunch on Egypt’s economy
President Abdel Fattah El Sisi met on Wednesday 19/4/2023 with the Economic Ministerial Group.
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Talaat Moustafa Group opens the door for leasing in “East Hub'
The offering came at an Iftar party organized by the Talaat Moustafa Group, on Thursday, April 13, at the “East Hub” project in Madinaty.
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From Nigeria to Egypt: Investor Eliot Pence on backing frontier market startups
He also discusses his bullish outlook on the continent's construction industry and reveals why he considers Egypt a particularly interesting market.
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Kuwait purchases United Bank of Egypt
The Kuwait Investment Authority (KIA) has purchased the United Bank of Egypt, one of the most famous banks in the country, the Egypt Times reported.
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Banque du Caire, Misr Insurance to be offered on stock exchange
The data of companies to be offered on the stock exchange will be released next week, he added.