Financial-Services News
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Bourse Prepares to Launch Digital Registry for EGX-Listed Companies’ IR Officers
The Egyptian Exchange (EGX) is organizing a digital registry for IR officers of EGX-listed firms. Registration commencement post successful interviews, tests and bourse training.
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10 things you need to know about Egypt-UAE currency Swap
Egypt and UAE signed on Thursday an agreement for currency exchange, but what does that mean? Here are 10 facts about the agreement.
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Saudi Egyptian Investment Company Acquires More Stakes in E-Finance
The Saudi Egyptian Investment Company (SEIC), the Egyptian investment arm of KSA’s Public Investment Fund (PIF), is set to increase its stake in state-owned FinTech e-Finance from 25% to 28%.
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Egypt, Hong Kong in talks over cooperation, green finance tools
The meeting took place during the minister’s participation in the Belt and Road Initiative summit in Hong Kong.
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Beltone Financial acquires Upper Egyptian Cash Microfinance
Beltone Financial Holding, a Cairo-listed investment company, announced that it signed the final agreement to acquire 100 percent of Cash Microfinance
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Sisi directs gov't to issue incentives including tax breaks to back strategic industries
Egypt’s President Abdel-Fattah El-Sisi directed the government on Sunday to implement a package of incentives, including tax exemptions.
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Expert reveals the steps BRICS can take to reduce the US dollar’s dominance
Damaty noted that the currencies of some countries in the group are still not listed with the central banks of other countries within the BRICS.
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Ahmed El-Sheikh Named New Head of Egyptian Stock Exchange
El-Sheikh has held the position of Vice President of the Financial Regulatory Authority since August.
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Economic crisis continues to take toll on Egyptian stocks as investors ask for risk premium
HSBC Bank said in a report that investors are still concerned about investing in Egypt, as the past four years witnessed a decline in interest.
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Egyptian expats to soon invest in high-return national projects through new company
A group of high-profile Egyptian investors abroad will soon establish an investment company to engage the country’s expats in high-return project.
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Tamweely Microfinance launches new financing line to back SMEs: Egypt
The new line will provide financing ranging between EGP 220,000 and EGP 7 million per ticket for a start, targeting SMEs.
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Cairo-listed Beltone Finance eyes stake in local microfinance firm
Beltone Financial Holding, a large Cairo-listed investment company, has signed a memorandum of understanding to acquire a microfinance company.
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Egypt's economy to grow 4.2% in FY 23/24: Morgan Stanley
In its “Egypt Economics, Sovereign Credit and Equity Strategy” report, the investment bank lowered Egypt’s current accounts deficit forecast to $9.8bn
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Egypt’s external debt rises nearly 5% in one year
Egypt’s external debt rose by 4.8 percent to $165.3 billion in the third quarter (Q3) of the fiscal year 2022/2023, compared to $157.8 billion.
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Egypt collects EGP 8.8 bln from tax evaders over 2.5 years
Egypt's tax authorities have generated EGP 8.8 billion ($286 million) from 7,305 tax evasion cases, out of 22,000 since the launch of eInvoice.
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Egypt's Beltone hikes capital by over 1,000%, highest in EGX history
Egyptian investment company Beltone's issued and paid-in capital surged by 1,080 percent to EGP 10.9 billion following shareholders' full subscription
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Egypt’s TFSE ranks 47th worldwide in SWFI’s wealth funds list
TFSE was founded as a private investment fund in 2018 “to shape, manage, and perfect opportunities for investment in Egypt’s state-owned assets.
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Maait orders easing measures for electronically linking Nafeza, e-bills for taxes
Maait said it was decided that a permit period will be granted to emergency import cases to adjust their conditions till August 1.
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Demand for Egypt's sovereign USD bonds rises in July
Egypt's sovereign US-dollar-denominated bonds experienced a slight increase in their returns on international markets, rising by over 1 cent.
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Egypt settles 65,000 tax disputes away from court: Finance Minister
More than 65,000 tax disputes, spanning seven years, have been settled away from court, said Finance Minister Mohamed Maait.