Finance News
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President Sisi reappoints Hassan Abdallah in 3rd term as CBE acting governor
President Abdel-Fattah El-Sisi issued a decree to renew the tenure of Hassan Abdallah as the Central Bank of Egypt's (CBE) acting governor.
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FinExpo to debut in October as Egypt’s 1st major fintech e-trading conference and exhibition
FinExpo, described as the largest platform of its kind in Egypt, aims to connect investors interested in the stock market and electronic trading.
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Singaporean Olam to raise investment in Egypt to $55 mln
Prakash Jhanwe declared in a meeting that his company will increase its current investment by $22 million to reach $55 million.
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Egypt’s net foreign assets record EGP 508.58B in July 2024
This positive trend follows a significant turnaround from a deficit of LE 174.385 billion in April 2024 to a surplus of LE 676.4 billion in May 2024.
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Egypt efforts to support private sector over two years
The Egyptian Information and Decision Support Centre (IDSC) issued in a report on Thursday the efforts and measures the government has taken.
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EGP 2 tln divided equally between public and private investments planned for FY2024/2025
The total investments allocated in the current FY2024/2025 plan amounts to EGP 1.987 trillion, including EGP 1 trillion in public investments.
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Egypt's Fawry plans to begin Saudi operations by year-end
Fawry is an Egypt-based company that provides an electronic payment network.
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CEO of Egypt’s sovereign fund reportedly resigned in July, to close term by end of month
Soliman’s resignation was somewhat expected, with one source stating that the government was looking to introduce fresh faces into key positions.
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What's next for mobile wallets in Egypt?
As the country continues to embrace digital finance, the future of money management in Egypt looks increasingly mobile and accessible to all.
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CBE: Mobile wallets reached 39M in 2023
By the end of September 2023, the total had reached 36.7 million, with 96.2 million transactions amounting to LE 11.64 billion.
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Sisi discusses gov’t measures to achieve tax stability, spur investment
Egyptian President Abdel-Fattah El-Sisi met with Prime Minister Moustafa Madbouly and Finance Minister Ahmed Kouchouk.
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Mahmoud Mohieldin analysis of Egypt economic policies over last 70 years
El-Shal is an assistant professor of Economics at Cairo University and the research associate director at the Abdul Latif Jameel Poverty Action Lab.
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Egypt central bank sells €609.8 mln in euro-denominated T-bills
The Central Bank of Egypt (CBE) sold on Tuesday 609.8 million euros in euro-denominated treasury bills (T-bills), with a 364-day maturity period.
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Egypt, Iraq sign protocol for cooperation in the financial market
The protocol supports the transition to a digital economy to strengthen the competitive capabilities of both stock markets.
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State providing all support to int'l companies to expand in Egypt
TCI Sanmar is one of the largest Indian investments operating in the Egyptian market, with an investment volume of dlrs 1.5 billion.
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Central Bank of Egypt Facilitates Bank Account Opening for Non-Resident Foreign Customers
According to the CBE’s laws, banks are currently required to open accounts for foreign customers who are not residents of Egypt if they requested.
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FX rate in Egypt projected to average EGP 49.5/$1 in 2024
BMI, a research firm associated with Fitch Solutions, forecasts a depreciation of the Egyptian pound against the US dollar.
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Infograph: Egypt PMI trend in 2024
Egypt’s S&P global Purchasing Managers’ Index (PMI) has been tiptoeing around the 50 mark for the past few months with July recording 49.7.
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CBE allows non-residing foreigners to open bank accounts in Egypt
CBE directed banks in Egypt to open accounts for foreign clients who are not residents of Egypt, allowing them to benefit from the various services.
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Egypt closer to launch of carbon certificate market
The new regulated market represents a milestone in Egypt’s environmental and financial sectors.