Finance News
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Egypt’s annual headline inflation decrease to 23.4%, core inflation to 23.2%
Data from the Central Bank of Egypt (CBE) showed that the monthly core inflation rate was 0.9 percent in December 2024.
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El-Sisi approves 50% increase in Egypt’s share of IMF
The law specifies that the increase in Egypt's contribution to the IMF comes with a reservation.
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Egypt set target to reduce external debt by $2B annually
Looking ahead, the minister expressed optimism about a significant decline in inflation rates and financing costs in 2025.
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US shifts $95 million in military aid from Egypt to Lebanon
A US State Department document has revealed that the Biden administration will divert $95 million in military aid allocated to Egypt to Lebanon.
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Egypt Net International Reserves hits record $47.1 bln in December 2024
The rise continued a steady trend for NIRs in recent months, increasing from $46.94 billion in October to $46.95 billion by the end of November.
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Egypt allows 15-year-old citizens to invest in EGX
The Financial Regulatory Authority (FRA) has approved a new measure allowing youths aged 15, instead of the previous 16-21, to trade.
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Egypt to receive $1.2 bln from IMF in January
Egypt is set to receive a $1.2 billion disbursement from the International Monetary Fund (IMF) in January as part of its $8 billion programme.
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Egyptian fintech PayMint launches Meeza prepaid card
Founded in 2019, PayMint provides a wide range of financial services for both individuals and micro, small, and medium-sized enterprises.
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MSMEDA partners with UNDP to boost MSME sector in Egypt
During the meeting, Rahmy outlined MSMEDA’s significant achievements in digital transformation, job creation, innovation, and expanding financing.
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Egypt’s Ministry of Planning 2024 Report
In the first quarter of FY2024/2025, private sector investments surged to LE 133.1 billion, constituting 63.5 percent of total investments
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Misr Insurance, UAE's AAIC sign protocol to boost Egypt digital transition
The partnership aims to exchange expertise in innovative digital solutions for the insurance sector.
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Egypt leasing finances record EGP 47.4 mln in 1st 10 months of 2024: FRA
The Financial Regulatory Authority (FRA) announced Sunday that the value of leasing finances in Egypt increased to EGP 47.4 million.
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Egypt receives first tranche of EU’s Macro-Financial Assistance program
The €1 billion tranche was deposited into the Central Bank of Egypt last Friday as part of the financial assistance.
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Egypt to acquire additional shares contributing $28.9 mln to IFC capital
resident Abdel-Fattah El-Sisi issued Decree No. 110 of 2024 to approve Egypt's acquisition of an additional 28,940 shares in the IFC.
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9 golden licenses awarded to investment projects
By granting these golden licenses, Egypt reinforces its position as a hub for strategic investment and economic development.
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Saudi Jarir, Aman Egypt to establish over $26mln finance company
After obtaining the necessary regulatory licenses, Aman Egypt will hold a 49% stake in the joint venture’s shares.
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Egypt’s GDP growth reaches 3.5% in Q1 FY2024/25
Private investments grew by 30%, reaching EGP 133.1 billion, compared to EGP 102.3 billion in the same quarter of the previous year.
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Egypt received €1 bln first tranche of EU €7.4 bln financing package
On 20 December, the EU approved the disbursement of the first tranche to Egypt as part of its macro-financial assistance (MFA) to the country.
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Egyptian Investments in Africa Surpass USD 14 Billion
Foreign minister Badr Abdelatty noted that the figure reflects Egypt’s commitment to fostering economic growth across Africa.
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Egypt real GDP growth recovers to 3.5% in Q1 FY24/25
The real GDP growth rate recovered to 3.5 percent during the first quarter (Q1) of the fiscal year (FY) 2024/2025, from 1 July to 30 September.