Finance News
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Egypt becomes a member of the BRICS New Development Bank
Joins the original five members plus Bangladesh and UAE in acquiring a position within the BRICS bank equity
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World Bank agrees $7 bln, 5-year partnership with Egypt
The agreement will focus on boosting private sector jobs, provision of better health and education services, and adaptation to climate change.
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IFC invests $25m in Africa-focused private equity fund to support women entrepreneurs
It will make an equity investment of up to €25 million in the Mediterrania Capital Partners’ Mediterrania MC IV fund.
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Egypt’s Faisal Islamic Bank taps iGCB to power its digital banking services
The bank is set to deploy iGCB’s cloud-native CBX Retail (CBX-R) solution to modernise and expand its offerings.
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Egypt takes measures to counter high demand for US dollar
The Egyptian government is trying to counter high demand for US dollar via new sources of foreign currency.
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Egypt’s parliament approves grant agreement on inclusive economic governance worth $26M
The total grants directed to the comprehensive economic governance program become about $77.5 million.
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Egypt’s Macro Environment will Create $500 Million in New Investment Opportunities in Two Key Sectors
Non-bank lending and payments offer the best investment opportunities in Egypt’s current macro environment.
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Paymob Teams With IKEA Egypt to Offer More Ways to Pay
Consumers will get the convenience of paying for purchases over time and gain more control over their spending.
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Egypt calls on African countries to support its ‘Sustainable Debt Coalition’ initiative
The ‘Sustainable Debt Coalition’ initiative was launched by Egypt during the 27th edition of the UN Climate Change Conference (COP27).
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Egypt amends its rules on VAT for non-resident suppliers in e-commerce transactions
The electronic distribution platform is conditionally not responsible for collecting taxes and remitting them to the Egyptian Tax Authority (ETA).
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PM: State gives top priority to supporting micro projects sector
He also drew attention to the numerous initiatives which support the micro projects sector.
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New working hours for banks during Ramadan
The Central Bank of Egypt (CBE) has announced the banks’ working hours during the holy month of Ramadan, which is expected to start on Thursday.
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Egypt Targets 5% Growth in FY2023/24 Budget- Finance Minister
Mohamed Maait, the Egyptian Minister of Finance presented the most important final indicators for the draft budget for the next fiscal year 2023/24.
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Egypt's parliament approves LE 65B additional allocation in 2022/23 general budget
According to the draft law, the new allocation will be covered by borrowing, issuing securities, stocks and other sources of local and foreign.
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Egypt’s futures surge to all-time high, surpassing EGP 40 per $1
Egypt’s undeliverable futures recorded an all-time high on Monday, posting EGP 40.25 per $1, up from EGP 39.39 at the opening hour.
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Exoskeleton Startup Cosmos Bionics Strikes a Deal on Shark Tank Egypt
In addition to successfully securing an offer, the Cosmos Bionics presentation introduced lower-body exoskeleton technology to North Africa.
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Egyptian Financial Regulatory Authority sharpens focus on sustainability with UK banking alliance
The MOU will improve the efficiency of and provide support for Egyptian non-banking financial services markets.
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CIB general assembly approves appointing Hisham Ezz Al-Arab as non-executive Chairman
The CIB said then that Ezz Al-Arab will come as a successor to Sherif Sami, who will continue as a non-executive member of the Bank’s Board.
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Egypt's FRA approves establishment of Malath Consumer Finance Company
The number of customers increased by 86.6 percent, to 765.3 thousand customers by the end of the last quarter of 2022.
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UAE, Saudi Arabia and Egypt lead M&A activity in Mideast
UAE and Saudi Arabia witnessed the fastest year-on-year increase in deals, with volumes rising respectively by 9 per cent and 6 per cent.