Finance News
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Egypt pound drops to lowest rate against dollar since 3 November
The country's foreign reserves stood at $23 billion by the end of November.
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How will Egypt’s stock market react to recent bombings?
Recent worldwide events, including the Istanbul bombing, will shield the Egyptian stock market from any potential repercussions of the church bombing.
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UAE’s Mawarid Technology Promises to Pump Investments at a Value of USD 100 Million in Egypt
Nuaimi: Egypt Represents a Regional Gateway for Arab and African Markets.
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China signs three-year $2.62 billion bilateral currency swap with Egypt
A move that importers and economists said would facilitate trade and improve foreign currency liquidity in cash-strapped Egypt.
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Egypt's foreign reserves rise by $4 bln in November
The country's foreign reserves reached $23 billion by the end of November, up from $19 billion in October 2016.
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Egypt's Further Economic Good Sense - Cutting Fuel Subsidies As Well As Floating The Pound
Getting rid of the price fixing and moving to the market rate will increase economic efficiency. Increased economic efficiency makes people richer.
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Egypt Is Charting a New Economic Course
Unlocking the country’s potential through private-sector-led growth free of the heavy hand of the state.
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Egypt's banks raise $3 bln since pound float decision
CBE had decided in early November to float the pound and raise key interest rates as part of a set of reforms aimed at alleviating the dollar shortage
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Ahram Hebdo economic conference to highlight French investment in Egypt
The conference, held in partnership with the French Chamber of Commerce and Industry and the French embassy in Cairo, will be held from 9am to 5pm.
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IMF Loan, rights and obligations
The loan is not just money, it’s a full economic reform program that needs to be implemented over 3 years and will be reviewed 5 times.
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IMF approves $12 billion loan to salvage Egypt's economy
The IMF made the announcement on Friday and said the loan aims to help Egypt "restore macroeconomic stability and promote inclusive growth".
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Egypt nets $2B in financing as IMF deal nears
Bonds were chosen over other financing options due to “elevated” interest rates in parts of the market.
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EFG Hermes takes over management of HSBC Egypt money market fund
The mandate brings the division’s Egypt-focused assets under management (AUM) to EGP 10.5 billion.
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IMF chief hails Egypt austerity, urges approval of $12B loan
She said she would recommend that the IMF Executive Board approve Egypt's request for $12 billion in loans when it meets this Friday.
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IMF to meet Friday to decide on Egypt's $12 bln loan
Last Thursday, Egypt floated its currency and increased the prices of subsidised fuel.
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Banks offering dollars lure Egyptians from the dark side
Egyptian lenders need billions of dollars to meet demand from businesses starved for dollars.
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Egypt stocks enjoy biggest rally in Mideast after currency flotation
The EGX 30 Index surged 6.1 percent, extending the longest winning streak since March.
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Egypt to face pain before gain after massive currency devaluation
Inflows of hard currency may be slow to arrive, at least in the huge volumes required to eliminate the dollar shortage and bring investors.
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Egypt to approach IMF in days as free currency trade debuts
The push to finalize the loan comes as Egyptian banks on Sunday began freely trading foreign exchange on the interbank market for the first time.
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Egypt did not have luxury of postponing reforms
The reforms are part of a process to acquire an IMF loan.