Finance News
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Egypt's new rules for brokerage firms in carbon market explained
To ensure the market's integrity and efficiency, the Financial Regulatory Authority (FRA) has introduced stringent conditions for brokerage firms.
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FRA releases new conditions for brokerage firms to trade in upcoming voluntary carbon market
On Tuesday, Farid issued Decision No. 1732 of 2024, revealing the specific criteria for firms to qualify for future FRA approval.
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Egypt targets $5bn in Indian investments by 2027 through strategic initiatives
El-Khatib also mentioned ongoing coordination among relevant ministries to prepare comprehensive files on land, energy, and the necessary procedures.
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Egypt Sees Largest Historical Decline in Foreign Debt Value
Net foreign assets represent the assets of the Central Bank of Egypt and the country's commercial banks, held by non-residents, minus their liability.
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MSMEDA CEO urges graduates to embrace entrepreneurship
Basil Rahmi told students that the government is committed to supporting small businesses and creating jobs.
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Egypt's economy to grow by 4.0% in 2024/25, analysts predict
Egyptian economic growth will be slightly slower this year than thought in April following a $8 billion agreement with IMF.
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Egypt's Banknbox join forces with CSC Jordan to drive financial inclusion
Egypt-based fintech Banknbox has partnered with CSC Jordan to drive financial inclusion and offer joint advanced services to customers.
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Egypt Says it Cut Foreign Debt by $14 Bln in 5 Months to May
The country's external debt fell to $154 billion as of the end of May from $168 billion at the end of December.
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CBE approves launch of Egypt’s first digital bank
Onebank will provide customers with fully digitalised banking services, with 24/7 online availability.
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Goldman Sachs forecasts for Egypt
The report suggests that in September, the CBE will reduce interest rates by 1 percent, followed by a further decrease of 2 percent in Q4 2024.
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Egypt to enhance commodity exchange for economic contribution
The primary focus of the discussion was to leverage the forces of supply and demand in order to activate the commodity exchange.
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International Co-op and Investment ministers meet to discuss strategies to attract FDIs
El-Khatib emphasized the importance of aligning efforts with global partners to expand productive and service sectors.
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Egypt cabinet economic cluster: Key objectives pledged before parliament
Ministers of the economic cluster in the new Egyptian cabinet vowed to boost the private sector to play a leading role in the country’s growth.
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MNT-Halan secures $157.5m to fuel expansion beyond Egypt
MNT-Halan, a standout in Egypt’s FinTech landscape and the country’s first unicorn, has recently completed a significant funding round.
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Egypt plays major role in BRICS
Russia has significantly close relations with Egypt in various fields, he assured, including in politics the economy and the parliament.
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Egypt total budget deficit at 505 bln pounds in 2023/24
Egypt devalued its currency in March to curb rising inflation. The pound was fixed at 30.85 per dollar for a year before plunging towards 50.
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Egypt’s Dopay secures $13.5 million Series A extension round
Egypt-headquartered fintech Dopay has closed a $13.5 million Series A extension round, topping up a previous $18 million Series A round raised in 2021
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Egypt’s budget initial jumps to EGP 857 billion in FY23/24
Egypt’s budget has achieved an initial surplus of EGP 857 billion in the FY2023/2024, which ended on 30 June, compared to EGP 164 billion.
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IMF lowers projections for Egypt real GDP growth by 0.3% in FY23/24, FY24/25
In April, the IMF maintained its projection for Egypt’s real GDP growth in 2024 at 3 percent, declining by 0.8 percent compared to 2023 estimation.
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EBRD provides US $130 million loan to Coca-Cola HBC in Egypt
In Egypt, 26.5 per cent of youth are unemployed and many employed individuals tend to work in jobs that lack job security and stability.