Finance News
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Access by FABMISR, Drive Finance unite to redefine payment solutions in Egypt
The alliance is thoughtfully designed to accommodate the monthly instalments of Drive Finance customers.
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Moody’s changes rating for 5 Egyptian banks
Credit rating agency Moody’s announced on Tuesday that it has changed the ratings and estimates of five internationally ranked Egyptian banks.
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Total hard currency sold to Egypt's exchange firms hits $20M within 6 days
Al-Ahly Exchange Company accounts for the largest proportion of the proceeds, with a value of EGP 577 million since the decisions of the Central Bank.
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Germany pledges to make 258 million euros available to Egypt as debt swap
Germany has pledged to make 258 million euros available in the form of debt swaps, grants, and concessional financing.
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US dollar rate drops in major banks by 1.5% on Tuesday to EGP 48.8/1 USD
The US dollar rate against the Egyptian pound declined on Tuesday by approximately 1.5 percent to EGP 48.8/1 USD for selling.
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IMF Lines Up $1.5 Billion to Egypt within Weeks
The amount will include the first and second review tranches, which were postponed earlier.
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Egypt targets primary surplus of 3.5% in GDP in FY2024/2025
Egyptian government targets a primary surplus of 3.5 percent in its GDP in the upcoming fiscal year (FY) 2024/2025, Minister of Finance Mohamed Maait
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Is Egypt finding its path towards economic recovery?
Egypt's new currency devaluation and interest rate hike will lure foreign investors but ordinary Egyptians are feeling the pain of soaring prices.
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Inflation in Egypt increases to 36% during February: CAPMAS
The Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that annual inflation recorded 36 percent in February compared to 2023.
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What should Egypt do to ensure steady FX inflows?
The IMF statement mentioned that the increase in the loan was prompted by "significant macroeconomic challenges" that have become more complex.
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Egypt’s trade balance deficit hits $3.03B in December 2023: CAPMAS
During December 2023, the value of Egypt's exports declined by 23.0 percent, to record $3.48 billion, in contrast to $4.52 billion in 2022.
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Egypt sets date for offering operation of 20 airports to private sector
A government source detailed the Egyptian government’s plan to manage and operate several airports by private sector companies.
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European Union close to provide Egypt with $5 to $6B: Finance Minister
A portion of the European funds will be designated for the private sector, while another portion will be allocated to the state budget.
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Egyptian banks adjust withdrawals and purchases limits for cards abroad
Banks operating in the Egyptian market have begun raising credit card withdrawal limits following orders from the Central Bank of Egypt.
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Egypt’s Inflation Hits Record High of 36 Percent as Prices Soar
Egypt’s urban consumer price inflation (CPI) witnessed a significant rise, reaching 35.7 percent in February 2024, up from January’s 29.8 percent.
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Egypt to get $3 bln in funding from World Bank
Egypt also expects the European Union to announce its support package soon, Maait said, outlining more details of the aid that could flow.
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Egypt bourse hits record high after IMF deal, Aramco lifts Saudi
The country's benchmark index (.EGX30), opens new tab finished 5.2% higher at 32,920 points, with most of its constituents rising.
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Banks Federation head urges caution as hot money flows into Egypt after flotation, rate hike
Head of Egypt’s Banks Federation Mohamed El-Etreby urged caution amid an influx of hard currency into Egypt.
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The Most Promising Stock Investment Opportunities in 2024
The stock market continues to be a popular avenue for wealth creation, attracting both seasoned investors and newcomers.
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Egypt’s surprise rate hike a boon for foreign investors
The Egyptian pound dropped from a level of 30 pounds per dollar to 49.50. Traders said the surprise move injected much-needed investor confidence.