Financial-Services News
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Egypt's Fawry private offering 15.9 times oversubscribed on stock exchange - statement
Investment bank EFG Hermes said the share price was 6.46 Egyptian pounds ($0.3874) per share.
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Tax revenues surge by over 38% since beginning of FY24/25
Tax revenues have recorded a growth rate exceeding 38 percent since the beginning of the current fiscal year (FY24/25).
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Egypt major FX companies collect foreign currency proceeds exceeding EGP 7.5 bln since EGP flotation
The exchange companies affiliated with Egypt's three largest state-owned banks have collected foreign currency proceeds surpassing EGP 7.5 billion.
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S&P upgrades Egypt’s credit outlook to positive
S&P Global views Egypt’s exchange rate liberalization as a crucial milestone in bolstering confidence and fostering economic growth.
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Market capitalisation of Arab stock exchanges surpasses $4.5trn in February
The market capitalisation of Arab stock exchanges witnessed an increase to approximately $4.54trn in February, up from around $4.4trn in January.
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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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Egyptian bourse registers biggest annual gain since 2016
Egypt's blue-chip index (.EGX30) advanced 0.8%, extending its 2023 gains to a 70.5%.
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T-Vencubator launches operations to invest in local startups
Egyptian tech-focused Venture Capital (VC) firm T-Vencubator, has launched operations with the aim to support the growth of local startups in Egypt.
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10 things you need to know about 'frozen dollars' in Egypt
These frozen dollars are being sold at a jaw-dropping 50% below the parallel market rate, raising questions about their authenticity and legality.
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Egypt Post suspends foreign currency transactions through EasyPay cards
Egypt Post has suspended foreign currency withdrawals and purchases through EasyPay cards, according to SMSs sent to clients’ mobile numbers.
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EGX reportedly studying new upgrade to trading system to address tampering concerns
The main objective will be to address concerns surrounding tampering with the auction session, a critical factor influencing the closing price.
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Egypt obtained $38.8B in financing in past 4 years to support SDG progress, Al -Mashat
Rania Al-Mashat stated that the ministry secured $28.5 billion for the public sector and $10.3 billion for the private sector between 2020 and 2023.
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Beltone achieves record Operating Revenue of EGP957 million in 9M2023, a remarkable growth of 271% YoY
Beltone’s new management embarked on a journey of restructuring and transformation, following the acquisition.
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Egypt bourse’s main index reaches all-time-high on Wednesday; gold prices rise
EGX main index EGX30 reached an all-time high on Wednesday, helping the market cap gain EGP 35 billion.
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Egyptian stock exchange to launch new Sharia-compliant index by first half of 2024
Companies must adhere to Islamic Sharia law in their operations, accounting, and finances to be listed in the index.
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Egyptian stocks attract more investors amidst rumors of devaluation
EGX indices achieved unprecedented jumps during the week that ended on 26 October as devaluation rumours attracted more investors to the stock market.
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Egypt's CIBC leads brokerage ranking in October with 9.7% market share
The companys newly acquired top status comes after it gained a 9.7% market share of total transactions, with a trading value of $354mln.
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Cashless transactions in Egypt to reach $27.63 bln by 2027
The size of non-cash transactions in Egypt is expected to increase to $27.63 billion by 2027, with an annual increase of 14.03 percent.
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Beltone’s Cash for Microfinance plans further expansion in Egypt
The Company offers a comprehensive and growing set of financial solutions such as brokerage, investment banking, and asset management.
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Visa, CIB launch She's Next programme to empower women in Egypt
Visa has a new cooperation with Commercial International Bank (CIB) to launch the She's Next programme to empower women-owned businesses in Egypt.