Finance News
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Egypt's Faisal Islamic Bank records $7.15bln in business volume during August
The number of customer accounts grew to about 1.775mln in August 2020.
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10 Things Goldman Sachs said about Egypt economy
What will CBE do about interest rates? Goldman Sachs predicted it in their new report where they hailed Egyptian economy as a strong emerging market.
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Odin eyes EGP 1bn stock market investment through new fund
El-Sayed added that his company plans to establish another venture capital investment fund, with a capital of EGP 1bn in early 2021.
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Bahrain's ABC joins race to buy Blom's Egypt business
HSBC is advising Bank ABC on the talks, two sources familiar with the deal told Reuters. HSBC declined to comment.
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Moody's rating reflects confidence on Egypt's economy: Finance Min.
The economic reform program provided a measure of resilience to the Egyptian economy that enables it to interact with internal and external challenges
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More inclusion for SMEs in Egyptian exchange
EGX announced the new account aggregation system for securities listed on the SMEs market.
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Al-Sisi directs banks in Egypt to continue local market support
Directives are to ensure the country achieves its desired goals, and support MSMEs and those that deal with social protection.
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Egypt to launch commodities exchange by end-August
The commodities exchange will enhance transparency in commodity pricing, which will contribute to creating greater price stability, the minister added
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Egypt to offer 26 T-bills, bonds tenders worth EGP 185.25bn in August
Auctions part of government plan to borrow EGP 600bn from local market in Q1 of FY 2020/2021.
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EIB grants Egypt €1.9bn
The sum is to support Egypt's public transport, business investment.
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Microfinance sector contributes less than 1% of Egypt’s GDP
The microfinance portfolio in Egypt has recorded EGP 26 billion, which is under 1 percent of the country’s GDP of around EGP 4 trillion.
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Reopening Egypt's economy: The new normal
On 27 June, more than three months after they were imposed, Egypt began lifting many of the restrictions put in place to curb the spread of corona.
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SMEs join beneficiaries of financing initiative
CBE added small and medium enterprises to the list of beneficiaries of an GP 100billion initiative to support economy amid COVID-19 crisis.
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Egypt's economy grows 5% in Q3
COVID-19 caused a slowdown in various economic activities.
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Egypt's finance ministry introduces new facilities for financial leasing providers
The new facilities include deducting interests of loans and cash advances from companies’ net profits.
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Egypt- COVID-19 accelerates HSBC existing transformation plans to digital services
HSBC was among the banks that acted quickly to ensure providing consistent, competitive services to its customers, while abiding to precautions.
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Egypt issues eurobonds worth $5 bln, biggest issuance in its history
The issuance is part of efforts to provide needed funds to deal with the repercussions of the coronavirus, the finance ministry said.
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Delta Insurance's premiums rise 33% in Egypt
SAE's insurance premiums increased nearly 33% year-over-year to more than $38 million in the nine months ended March 31.
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Egypt’s foreign reserves fall to $37.037bn end-April
The net foreign assets of the country's banks plummeted by 162.12 billion Egyptian pounds in March.
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IMF to consider Egypt's request for emergency loans on 11 May
According to the IMF, the RFI provides rapid and low-access financial assistance to member countries facing an urgent need for a balance of payments.