Finance News
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Egypt targets $115.8 bln in annual exports by 2030
Egypt aims to increase its annual exports to reach $115.8 billion by 2030, Prime Minister Mostafa Madbouly said on Tuesday.
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Egypt to launch 1st phase of customs facilitation measures
Minister of Finance Ahmed Kouchouk announced that Egypt will launch the first phase of customs facilitation measures for economic growth.
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Amid Egyptian and foreign selling, EGX begins February on a mixed note
The Egyptian Exchange (EGX) opened February with a mixed start, as EGX 30 fell 0.31%, while EGX 70 and EGX 100 rose amid Egyptian and foreign selling.
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Investment Minister meets Kuwait’s AREF Investment Group to explore expansion in Egypt
Egypt’s Investment Minister met with Kuwait’s AREF Investment Group to explore expanding their $120 million investments.
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House approves tax incentives, facilitation laws, boosting business confidence: Abdel Aal
Egypt’s House approved tax incentives and facilitation laws aimed at boosting business confidence by reducing tax burdens and simplifying procedures.
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CBE to offer a $1bn treasury bill tender on Monday
The Central Bank of Egypt (CBE) will offer a $1bn Treasury bill tender on Monday, using proceeds to repay a previous tender.
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MSMEDA injects over EGP 500m into MSME financing in January 2025: CEO
MSMEDA injected EGP 500 mil into MSME financing in Jan 2025, supporting 3,000 micro-enterprises with loans and investment in high-potential startups
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Financing costs to decline gradually as inflation eases: Finance Minister
Egypt’s Finance Minister expects financing costs to decrease gradually as inflation eases, supporting private sector growth and business reforms.
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Largest sovereign wealth fund reduces its holdings in Egyptian equities
Norway's sovereign wealth fund cuts its holdings in Egyptian equities from $134.6 million to $100.3 million amid broader market challenges.
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SCZone half-year revenues surge by 32% to EGP 5.7 bln
SCZone's net revenues reached EGP 5.7 billion in H1 FY2024/2025, a 32% increase surpassing projections. Port revenues accounted for 77% of the total.
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Egypt declines debt of budget agencies in FY2023/2024
Egypt has reduced the debt of budget agencies to 89% of GDP in FY2023/2024, reflecting positive economic adjustments.
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CIRA Education’s consolidated profits drop 79.52% YoY in 3 months
Revenues grew to EGP 1.015 billion in the three-month period of last year from EGP 803.7 million in the same period a year earlier
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Gold prices in Egypt surge on Thursday; 24-karat up by 5.75%
The 22-karat gold recorded EGP 4,038.5 per gram for purchasing and EGP 4,064.75 for selling.
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Banque Misr launches instant money transfer service for Egyptian expats
Banque Misr has launched an instant money transfer service for Egyptian expats, enabling fast, 24/7 transfers to bank accounts, cards, or e-wallets.
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Misr Hotels records 77.6% YoY profit surge in H1 FY2024/25
Misr Hotels reported a 776% year-on-year profit surge for H1 FY2024/2025, showing strong performance despite the economic challenges.
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PM Madbouly shared Egypt's growth targets, here are the top 7
Speaking to advisory committees, Madbouly detailed key goals in economic expansion, trade, and financial stability. Here are the major 7.
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Egypt eyes 5.5% growth in next three years
He made these remarks during a recent meeting with specialised advisory committees, as per a Cabinet statement on Tuesday.
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Egyptian expats remittance inflows grew by 65.4% in November 2024
The remittances of Egyptians working abroad increased again in November 2024 by 65.4 percent to reach approximately $2.6 billion.
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Egypt issues $2 bln in int’l bonds market, 1st time since 2021
Egypt has issued $2 billion in the international bonds market for the first time since 2021, marking a significant step in addressing its gap.
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Turkish companies eye $300mln investments in Egypt during 2025
The bilateral trade volume between the two countries, excluding liquefied natural gas (LNG), would hit $10 billion by the end of 2025.