Financial-Services News
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CBE approves instant payment network regulations
Regulations aim to allow payments sent between accounts at different banks to be credited, debited instantly, says Rami Abulnaga.
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Lifting state of emergency to help Egypt attract new foreign investment
Egyptian Exchange indices responded strongly to president's decision; Investment bankers welcomed the recent developments.
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Pressing ahead with economic reforms will create more jobs
Egypt was among the few countries that achieved a positive growth last year despite the Covid-19 outbreak, IMF.
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Int'l financial institutions should assume bigger role
They need to provide more funding for mega infrastructure projects through soft loans and blended and innovative financing.
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Egypt, IFC sign agreement to facilitate women access to financing
International Finance Corporation and the National Council for Women signed at the Ministry of International Cooperation, to support women empowerment
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Egyptian Tax Authority meets stakeholders
Abdul Qader said, in a statement on Wednesday, that the Large Taxpayer Center is holding meetings with senior accounting and auditing offices.
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Top 6 Fitch predictions about Egypt economy
The American credit rating agency stated that the Egyptian economy is among a few to managed to achieve an annual growth despite the COVID-19 pandemic
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Egypt to launch 3rd stage of exporters support programme
Finance Minster Mohamed Maait said that the action comes in implementation of President Abdel-Fattah El-Sisi’s decision to back exporting companies.
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Egypt targeting 5.4% real GDP growth, budget deficit decrease to 6.7% in FY2021/2022
FY2021/22 budget revenues are estimated at EGP 1.3 trillion, while expenses are expected to post EGP 1.8 trillion, according to Maait.
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International partnerships on SMEs
International donor agencies are helping small and medium-sized enterprises in Egypt to alleviate poverty and reduce unemployment
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Egypt, the Netherlands cooperate to support young entrepreneurs
Orange Corners Egypt provides young Egyptian entrepreneurs with the facilities to grow innovative businesses.
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EBRD President visits Egypt’s business accelerator, Falak Startups
Egyptian government’s efforts to catalyze digitization, innovation is in line with third pillar of EBRD’s new strategy: Al-Mashat.
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Egypt to allocate EGP 1.25 tln for investments in FY2021/22
Investments directed to productive sectors will increase by 125%, for building up people will rise by 70%, and in service sector will go up 30%.
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Taking Egyptian SMEs Online with the CBE Initiative
Egypt is a huge Middle Eastern economy with a population now reaching over 102.33 million, enjoying a period of relative macroeconomic stability.
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Top 3 players in mortgage finance market in Egypt
These companies offer different options of finance to people who want to own real estate units, whether residential, commercial or administrative.
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Paymob Closes Series A with $18.5m
Paymob was founded in 2015 by Islam Shawki, Alain El Hajj and Mostafa El-Menessy with a vision to revolutionize payments in Middle East and Africa.
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More spending budgeted
Increased spending and a set of society-friendly measures have been penciled into Egypt’s 2021-2022 budget.
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2021-2022 draft budget handed to president for review
The budget aims to support investments, especially in projects that offers support to rural areas and cater to the development of Upper Egypt.
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Legislative, economic reforms drive Egyptian market growth: Misr Capital
CBE's tendency to reduce interest rates created great demand from companies to finance their expansions through debt instruments.