Finance News
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Valu launches Ulter: Egypt’s first high-end payment solution
Valu has partnered with top-tier merchants in the luxury space to provide customers with a seamless financing experience.
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Egypt makes significant strides in citizen participation in budget
This is according to the 2023 Open Budget Survey by the International Partnership for Budget Responsibility (IPBR).
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Is Egypt preparing to impose new taxes?
The minister said the tax policy document is subject to careful study by Finance Ministry in order to express its goals during the next six years.
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Egypt parliament approves state budget at LE 5.5 trillion
The Egyptian House of Representatives approved the draft law on state’s general budget for the fiscal year 2024/2025.
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Egypt targets $30 billion in foreign direct investment in 2024/25
The country's general budget indicators show that total revenues are expected to be EGP2.6 trillion.
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Remittances of Egyptians abroad increase by 43.8% in April
The Central Bank of Egypt had announced that net foreign reserves had reached $41 billion at the end of April 2024.
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Egypt’s int’l reserves hit highest point in 4 years
Egypt’s net international reserves (NIRs) hit its highest point in more than four years (50 months) to reach $46.1 billion in May.
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Egypt’s economy forecast to grow by 4.2 percent
Dr. Elsaid attributed this growth to increased investment spending, stronger net exports, and higher consumer spending.
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Banks across Egypt offering CDs up to 30% per month
Several banks operating in Egypt have recently launched Certificate of Deposits with lucrative monthly and annual returns.
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InstaPay introduces new feature for easier money transfer
The new feature enables the beneficiary to share the QR Code to the other party wishing to transfer the money.
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Egypt suspends land allocation system in foreign currency
The ministry will assess all allocations related to the system to ensure alignment with the Central Bank of Egypt's foreign exchange policies.
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CIB commits $300m to renewable energy, waste management projects
The total financing volume provided by CIB in the field of renewable energy and waste management amounts to an impressive $300m.
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Egyptian Stock Exchange registers record gains in May
The monthly report of the Egyptian Stock Exchange howed that the market capitalization of shares of listed companies gained about LE 139 billion.
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CBE implements blended finance mechanisms
Hassan Abdalla eleased a statement on the occasion of AfDB’s 60th anniversary and the 2024 Annual Meetings.
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National Bank of Egypt enables instant transfer receipt from abroad
The move supports Egypt’s digital transformation plan making the society less dependent on cash to enhance the government’s financial inclusion.
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Egypt to unveil new investment opportunities for Arab, foreigner investors next month
The government will unveil several investment opportunities in key sectors during the joint investment conference between Egypt and the European Union
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US Apache Plans $1.4 Bln Investments in Egypt in 2024
Christmann said Apache upgraded its work mechanisms in Egypt which contributed to increasing oil production by 10 percent to over 150,000 barrels/day.
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Orange Egypt Doubles Customers' Donations via 'Orange Cash' to Support Charitable Organizations
The company allocated part of its donations to support and assist 9 non-profit charitable organizations.
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7 Updates in the Egyptian fintech industry
The fintech sector in Egypt is experiencing rapid growth and transformation, with several significant developments shaping the future of finance.
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Egypt registers 3rd largest volume of real-time payments in Africa in 2023
By 2028, real-time payments are predicted to account for more than one-third of payments in the country.