Finance News
-
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.
-
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
-
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.
-
EIB grants Egypt €1.9bn
The sum is to support Egypt's public transport, business investment.
-
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.
-
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.
-
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.
-
Egypt's economy grows 5% in Q3
COVID-19 caused a slowdown in various economic activities.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
Egypt continues to cut social spending in 1st corona budget
The Cabinet appears set to keep social spending level in the budget for the new fiscal year.
-
Taxed with good intentions
Al-Ahram Weekly reports on recent modifications to the law on income tax.
-
Maait: Economic reforms fostered Egypt's economy in face of COVID-19
The price of gas and electricity for factories has been reduced with a total value estimated at LE 10 billion borne by the state treasury.
-
Egypt economic growth forecast lowered
A Reuters poll lowered Egypt’s economic forecast to 3.5% in the next fiscal year starting July down from 5.9%.
-
Egypt's Commercial International Bank buys 51% of Kenya's Mayfair
CIB is the first Egyptian bank to venture into the Kenyan market.
-
IMF official: Egypt's anti-COVID 19 measures decisive and support economy
The LE 100 billion stimulus package, announced by the government, has been meant to boost the national economy during the crisis.