Finance News
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Egypt invested EGP 530 bln in Sinai and Canal cities over 10 yrs
The total investments for projects in Sinai and the Suez Canal cities amounted to EGP 58.8 billion in FY2023/2024.
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House of Representatives approves increasing Egypt-US assistance grant to $20.5 mln
The funded activities under this agreement will focus on collaborative efforts with various governmental ministries and stakeholders.
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Cairo, Alexandria top 10 African cities with cheapest groceries
Egypt’s Cairo and Alexandria topped Numbeo grocery index for 10 African cities with the cheapest groceries mid-2024.
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Blom Bank in Talks with Bahrain's ABC to Sell Egyptian Unit
Blom Bank owns 99.42% of the issued share capital of Blom Bank Egypt, the statement said.
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Egyptian authorities to ramp up efforts to rejoin JPMorgan emerging market bond index
Egypt was delisted just one year after rejoining the index - Egypt had been working on returning to the EMBI for three years after its removal in 2011
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Egypt's economic & social development plan for FY 2024/2025
The plan dedicates 42% to human and social development projects, 37% to industrial development and infrastructure, and 21% to local dev projects.
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CBE: net foreign asset surplus slips 27% in August
While the banks' liabilities remained relatively stable, decreasing by $81 million, their assets plummeted by 11 percent to $27.6 billion.
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Egypt's Private Sector Faces Contraction As Costs Rise Again
Egypt's Purchasing Managers' Index (PMI) sank to 48.8 in September, slipping under the neutral 50 mark and underscoring new hurdles for the sector.
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IMF to commence 4th review of Egypt’s EFF loan programme in November
Egypt met all the commitments required for the third review of its $8 billion loan programme with the IMF in July.
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Google to transition payments in Egypt to EGP starting May 2025
In a significant shift for digital content creators in Egypt, Google announced that starting 1 May 2025 it will transition payments for service.
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Egypt to reduce inflation rates to 10% by end of 2025
Recent developments have led to the canal losing over 60 percent of its revenues, translating into a loss of around $600mln monthly.
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EBRD partners with Kuwaiti Agility to develop digital platform for Egypt's SCZone
Under the terms of the contract, the EBRD will finance the development and operation of the digital platform throughout the duration of the agreement.
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Arab investments flood Egypt, offering economic lifeline
This figure stands in stark contrast to the $2.46 billion received in the first half of the same year.
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Egypt's current account falls into deficit in 2nd quarter
The current account flipped to a $3.71 billion deficit in the April-June quarter from a $557 million surplus a year earlier.
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Sunday off for all Egypt banks on anniversary of 6 October victory
Sunday will be a holiday for all banks in Egypt on the anniversary of the 6th of October war triumph, the Central Bank of Egypt (CBE) said.
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Halan and Truecaller Collaborate to Redefine Communication Safety in Egypt
With Truecaller’s Verified Business Caller ID solution, Halan is taking a significant step forward in the financial services ecosystem.
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Egypt public expenditures decline by 5.9% in July, August
Egypt’s public expenditures have declined by 5.9 percent in July and August of the current FY2024/2025, reflecting the government’s ongoing efforts.
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Media reports possible new Instapay feature coming to app
The new service is expected to roll out before the end of this year, enhancing the convenience of transactions for consumers.
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Valu partners with ShipBlu, PayTabs Egypt for eCommerce payments
Valu, MENA’s universal FinTech powerhouse, has partnered with ShipBlu and PayTabs Egypt to transform payment methods for eCommerce.
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FinMin outlines strategic reforms to boost private sector in Egypt
A new 50 billion EGP tourism initiative has also been introduced to accelerate the construction of hotel rooms and accommodate more tourists.