Finance News
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Finance Ministry submits draft to Cabinet for tax dispute settlement law renewal
In addition, Maait added that over 17,000 tax disputes were settled, with a total agreed-upon tax exceeding EGP 15.485 billion.
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Value of Egypt’s electronic payments, collections services reaches LE 2.5tn in 11 months
The electronic payment service for workers' salaries in the country saw a growth rate of 24 percent, amounting to LE 299.4 billion.
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What did CBE do to reduce and stabilise prices?
CBE impact on market stability, price reduction, and inflation control is evident through several measures adopted in coordination with state agencies
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Egypt's foreign direct investment to surpass $40B by 2024
Heiba emphasized the government's commitment to increasing the issuance of golden licenses to investors in the near future.
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CBE unveils $1bln debt instruments after Eid holiday
The first auctions stood at EGP 25 billion and will mature in 182 days on 24 December this year, according to official data.
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G7 investments in Egypt Rise 15.7%
The value of Egyptian investments in the G7 countries recorded $7.32 billion during the fiscal year 2022/23.
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Banks, Stock Exchange Resume Work Sunday
Bank working hours begin after the end of the Eid Al-Adha holiday at 9 am for banks until 2 pm.
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Egypt's 2024 tax updates: Key changes and benefits
These changes aim to mitigate the effects of inflation and promote social justice. Here are the key highlights of the new tax measures.
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Egypt Announces Exempting Strategic Industrial Projects from Certain Taxes
Maait said that up to 40.5 billion pounds have been allocated in the next fiscal year’s budget to finance programs to stimulate economic activities.
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Smart cards manufacturer MDP plans to invest $2 mln in Egyptian market
Smart issuing and payment processing warehouse MDP plans to inject new investments worth $2 million into the Egyptian market.
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UN to continue backing Egypt's sustainable development efforts
In 2023, the UN funded activities in Egypt amounting to approximately $209 million.
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Egyptian investtech startup Bokra plans swift Saudi, UAE expansion post-launch
It is the first platform to offer goal-based investment and saving products through asset-backed securities.
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Egypt considers increasing 'zero-tax bracket'
Egypt is considering regular reviews to increase the "zero-tax bracket" following inflation rates as part of the new income tax bill.
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Egypt Pumps EGP 20 Million in Coins to Avoid Change Shortage on Eid al-Adha
The Ministry of Finance confirmed that 20 million pounds “change” was issued in coins on the occasion of Eid Al-Adha.
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Egypt ranked world’s 6th country on expats’ remittances in 2023
Egypt held the 6th position among the world’s remittance recipient countries in 2023, the Central Agency for Public Mobilization and Statistics said.
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HSBC to back fintech in Egypt with $31 million fund
HSBC Egypt is planning to launch a fund worth EGP 1.5 billion ($31.5 million) to back the fintech sector in the North African country.
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U.S. pledges $130 million to support Egypt’s development efforts
This partnership will contribute to stimulating Egypt’s private sector participation in diverse projects.
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ITFC anticipated to disburse $200mln tranche to EGPC
EGPC will use the tranche to fund the purchase of petroleum derivatives and petrochemicals.
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What is a debt-for-development swap? and why Egypt wants it?
This innovative strategy can help nations tackle debt burdens while simultaneously funding essential development initiatives.
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Egypt’s economy to grow to 4.2 percent in 2024
The World Bank attributes Egypt’s economic expansion in 2024 to several factors including the rise in investments, particularly in the Ras El Hekma.