Finance News
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Egypt Adopts Mechanism to Stabilize Exchange Rate by No More than 3 - 4% Change
The government is making intensive efforts to facilitate the entry of investors into the Egyptian market.
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'We won’t repeat past mistakes': Egypt PM says
The dollar's value fluctuated between 4 to 5 percent ($1/EGP 47 to $1/EGP 49) after the country adopted a flexible exchange rate in March.
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El-Sisi issues decree appointing Central Bank of Egypt board for 1 year
President Abdel-Fattah El-Sisi has issued a decree appointing the Central Bank of Egypt (CBE) board of directors, chaired by Hassan Abdullah.
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Egypt's tax revenues hit LE 560.7B in first 4 months of 2024
This marks the highest growth in tax revenues in the past two decades, adding an impressive LE 155.2 billion to the national coffers.
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Egypt's public expenditures surge by 7.3% in FY2024/2025
Spending on wages and employee compensation saw a notable increase of 22.4 percent, amounting to LE 197.1 billion over four months.
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Egypt’s budget deficit declines by LE 97B during FY2024/2025
The deficit now stands at LE 453.2 billion, representing 2.6 percent of GDP, compared to LE 550.2 billion, or 3.9 percent of GDP.
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Egypt wins first place in Arab FinTech Challenge
Egypt's EZRAALI project wins first place in Arab FinTech Challenge in Dubai. 2nd consecutive win for Egypt.
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IFC to invest $605 mln for climate finance
$605 million to support climate finance, sustainable tourism, and financial inclusion for micro, small, and medium enterprises (MSMEs) in Egypt.
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United Bank's IPO oversubscribed by almost 6x
The United Bank has set ambitious targets for its net profit, aiming to reach 3.071 billion LE by the end of 2025, 3.821 billion in 2026.
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Egypt & Spain partner for €800k two development projects in Egypt
The first grant, worth €500,000, is dedicated to enhancing wastewater treatment and reuse in Egyptian sugar factories.
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Egypt’s AAIB issues landmark $500 mln sustainability bond to promote finance
Arab African International Bank (AAIB) issued Sunday a landmark $500 million sustainability bond to accelerate Egypt’s green transition.
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Islamic Banking In Egyptian Market Increases To EGP 1.080Trn
This substantial growth is attributed to the transformation of Al-Ahli United bank into an Islamic bank following its Acquisition by Kuwait Finance.
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NARSS, GIZ discuss research cooperation projects
The meeting discussed opportunities to leverage GIZ’s focus on supporting agricultural projects and small farmers.
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Egypt’s central bank achieves LE 107.7B in net profits by October 2024
The statement further indicated that total equity rose to LE 162.413 billion, compared to LE 150.667 billion in September.
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Egypt agrees to 10 new IMF conditions
IMF led by Ivana Vladkova Hollar, issued a statement at the conclusion of its visit to Egypt, which lasted from November 6-20.
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Egypt FRA launches 1st regulatory sandbox to support fintech
This is the first regulatory sandbox in the non-banking financial sector to foster startups' growth with innovative digital solutions.
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10 key facts about Egypt’s new tax reforms for startups and freelancers
These reforms aim to simplify tax compliance and create a supportive environment for entrepreneurship. Here's what you need to know about them.
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Egyptian Gulf Residents Can Soon Transfer Money to Egypt via InstaPay
Transfers will be exclusively received in Egyptian pounds, with fees determined by individual banks based on the currency and country of origin.
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Egypt's Rare Bank Privatization Brings United Bank Shares To Market
Egypt’s Central Bank embarked on a rare privatization journey by putting 30% of United Bank up for grabs – only the second such sale in four years.
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EBRD extends €50 million guarantee to CIB for on-lending to Egyptian SMEs
The EBRD facility will help cover up to 50 per cent of the credit risk on as much as €50 million in financing for Egyptian SMEs originated by CIB.