Finance News
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El-Sisi Highlights Economic Challenges and Achievements at Global Conference
El-Sisi noted that the Egyptian government adopted a strategic approach based on balanced, integrated, and interconnected solutions.
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Egypt looking to issues new green bonds and Sukuk by end of fiscal year
This is part of a broader strategy to diversify financing sources and attract both investors and savers to the local debt market.
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S&P Global affirms Egypt ratings At ‘B-/B’
The positive outlook reflects the significant steps the Egyptian authorities have taken over the last eight months to address imbalances.
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Al Mashat reveals FY2023/2024 economic indicators
This marks a decline from the previous year's growth rate of 3.8 percent, largely due to ongoing external shocks, and geopolitical tensions.
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Saudi Arabia, Egypt finalize investment protection agreement
Prime Minister Mostafa Madbuly has said in recent weeks that bin Salman has given directions for US$5 billion to be injected into Egypt’s economy.
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Egypt’s Rabbit Mobility raises $1.3 million to expand its electric scooter platform
The platform aims to provide a sustainable and efficient solution to the “first and last mile” transportation challenge in Egypt’s cities.
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For 15 days, Egyptian banks open accounts for free without a minimum
The MBC Masr channel reported that this step comes on the occasion of the Global Week for Financial Inclusion and the World Savings Day.
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CBE allows financial inclusion accounts in foreign currencies
The central bank also announced that direct debit cards can be issued in the same currency as the accounts after obtaining the necessary approvals.
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Egypt to start medium-term budgetary framework in 2025
Egypt will adopt a medium-term budgetary framework for the first time in 2025 to set a three-year strategy plan.
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Fawry and Bel Egypt enhance digital financing solutions for retailers
This partnership will aid retailers’ digital transformation, enabling them to overcome economic challenges and expand their businesses.
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EIB’s Guido Clary highlights vision for Egypt's economic resilience
Clary highlighted the EIB's crucial role in economic growth and sustainable development.
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Egypt's FRA Suspends Establishment of Microfinance Companies for 1 Year
It also suspended accepting applications for obtaining a license to practice microfinance activities for associations and civil institutions.
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Cabinet Clarifies "War Economy" Concept
War economy means taking exceptional measures at the economic level to face the lack of supply chains in the event of a regional war.
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Egypt to launch its first digital bank
The Central Bank of Egypt (CBE) has granted Misr Digital Innovation (MDI) preliminary approval to launch the country's first digital bank.
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Dalia Elbaz takes helm as new chairman of Egypt Post
Elbaz was ranked 13th on Forbes Middle East’s list of the 100 Most Powerful Businesswomen for 2024.
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10 facts about Egypt's new tax incentives
Finance minister Ahmed Kouchouk, recently announced a series of tax incentives aimed at boosting the economy and fostering a healthier tax environment
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AXA Egypt and Post for Investment launch micro-insurance company
Both individual and group micro-insurance policies will cover health, personal accident, life, livestock mortality, etc.
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Egypt's headline inflation inches up to 26.4% in September
Recent inflation was driven in part by fuel hikes of 10-15% near the end of July, a 25-33% jump in metro ticket prices at the beginning of August.
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Egyptian Banks Cut Interest on Dollar Certificates
The national Bank of Egypt (NBE) and Banque Misr, the two largest government banks, cut interest on 3-year dollar savings certificates by about 0.50%.
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FinMin discusses Egypt's tax reforms, strategic fiscal policies
A simplified tax system will be introduced for small businesses and startups with annual revenues of up to 15 million EGP.