News
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Reasons for high inflation in March 2022
Annual urban inflation jumps to 10.5% in March 2022, marking highest rate since June 2019.
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Bank deposits increase to EGP 6.549trn in January 2022
In its monthly report, the CBE stated that government deposits increased to EGP 1.349trn in January, compared to EGP 1.299trn in December 2021.
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Encouraging electric vehicles in Egypt
Further steps are being taken to expand the use of electric vehicles in Egypt, reports Al-Ahram Weekly.
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Paymob announces its market entry to Pakistan
Mastercard welcomes Paymob’s market entry, and its likely impact for payments in Pakistan.
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Egypt approves India as wheat supplier
There is a sharp decline in availability of wheat in the global markets due to the ongoing conflict between Russia and Ukraine.
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ABE completes preparations ahead of wheat harvest season
The bank is also facilitating supply operations from farmers and receiving all wheat supplied from them.
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Egypt's printing, packaging exports rise by 65%
Egypt’s export of printing, packaging, paper, literary and artistic works rose by 65 percent from January to February, hitting $198 million.
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Beirut to sign contract to import gas from Egypt soon
Lebanon awaits the World Bank's approval to finance the import of Egyptian natural gas that will pass through Jordan and Syria.
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Egypt’s economy expands healthily in annual term
The forecast projected Egypt’s total investments to grow by 14.4% in FY2021/22 and 9.3% in FY2022/23.
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Egypt’s annual headline inflation continues to rise
Egypt’s headline annual inflation rate registered 12.1 percent in March of this year compared to 4.8 percent in March of last year.
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Egypt's printing, packaging exports rise by 65% in 2 months
Egypt’s export of printing, packaging, paper, literary and artistic works rose by 65 percent from January to February, hitting $198 million.
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Egypt working on entrenching local industry
The government gives top priority to industrial development by facilitating all the measures necessary for creating more industrial investments.
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Libya and Egypt’s trade expected to exceed $2 bln
The Libyan market may take in about two million Egyptian workers with the expansion of economic partnerships between the two countries.
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Egypt, EIB cooperation portfolio amounts to €7bn
We look forward to the bank’s efforts to reduce the cost of green finance in developing countries: Finance Minister.
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Egypt plans lowering debt to GDP ratio to below 85%
Egypt is planning to lower its debt to GDP ratio to below 90 percent by the end of the current FY2021/22 which will conclude at the end of June 2022.
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Saudi Arabia deposits $5 billion in Egypt's central bank
Last week Egypt said it was in talks with the International Monetary Fund for potential funds and technical support to hedge.
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Egypt keen to create conducive business environment
A sum of $400 billion was spent in the past seven years to develop the basic infrastructure.
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Swvl starts trading on a SPAC combination
The combined company, now “Swvl Holding Corp,” will trade under GMBT and GMBTW today before switching to SWVL and SWVLW on April 1.
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Avanz Capital Egypt establishes Avanz Manara
Avanz Manara supports the growth of small and medium enterprises (SMEs) in Egypt.
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Egyptians can now transfer money instantly with the CBE’s new app
The application was developed by Egyptian Banks Company, the CBE’s technological arm, under the guidance of its umbrella company.