Finance News
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Egypt expects budget deficit at nearly EGP 1.3 tln in FY2024/2025
Egypt's budget deficit is expected to reach EGP 1.245 trillion, equivalent to 7.3 percent of the country’s GDP, for the current FY2024/2025.
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Minister ElKhatib discusses increasing British investments in Egypt
Egypt plans to attract more foreign investments into the local market to boost the country's real GDP growth and create more job opportunities.
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US to invest $129 mln in Egyptian development priorities
The US government will invest $129 million, through USAID, as part of its commitment to develop the joint US-Egypt priorities.
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ETA keen to Remove any Obstacles Facing Japanese Companies in Egypt
Head of the Egyptian Tax Authority added that we are investing this meeting to learn about all the challenges they face and work to solve them.
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5 facts about Saudi Arabia’s $5 Bln investment in Egypt
Saudi Arabia’s recent announcement of a $5 billion investment in Egypt marks a significant milestone in the economic partnership.
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Federal Reserve cuts interest rates for 1st time in over 4 years
This move marks the beginning of what is expected to be a consistent easing of monetary policy.
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Saudi Public Investment Fund to initially invest $5 bln in Egypt
Madbouly commended Saudi Arabia's progress under Vision 2030, noting the significant advancements in urban development and economic diversification.
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Egyptians invest EGP 925 mln in gold investment funds
A total of 131,000 Egyptians have invested in state gold investment funds, totalling EGP 925 million since their launch.
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FRA's Progress in Enhancing Egypt's Non-Banking Financial Sector
Farid delivered a comprehensive overview of FRA's endeavors spanning from August 2023 to the present.
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Saudi Crown Prince Pledges USD 5 Billion Investment in Egypt
The announcement was made during a meeting with Egyptian Prime Minister Dr. Mostafa Madbouly in Riyadh.
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Egypt’s richest man, Nassef Sawiris gains $912 million this year
Under Sawiris’ leadership, OCI has undergone significant transformation, making the company more agile and focused on strategic growth.
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Egypt seeks more EU investments
Kouchouk stressed to Berger that the country’s monetary policies will be more effective in managing risks and boosting the competitiveness.
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CIB appoints Hisham Ezz Al-Arab in new term as CEO
Ezz Al-Arab has served as the CIB's Non-Executive Chair since March 2023.
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Know your InstaPay limits: CBE announces new rules
The Central Bank of Egypt (CBE) has increased the daily and monthly spending limits for digital payments made using apps like InstaPay.
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Egypt remittances in July hit highest point in 5 months at $3 bln
Egypt's remittances jumped by 86.8 percent in July to $3 billion, compared to July 2023, hitting its highest point in five months.
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In the spotlight: Paymob a success story in Egypt's booming fintech scene
One of Paymob's most notable achievements is reaching profitability in its home market of Egypt for the first time in the second quarter of 2024.
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Finance Minister Kouchouk highlights ministry’s 3 core priorities
He also stressed the government’s commitment to economic stability, private sector support, and innovative financial policies.
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Egypt launches 1st phase of new tax facilities measures
Egypt launched the 1st phase of its new tax facilities measures in a press conference held by Prime Minister Mostafa Madbouly and Minister of Finance.
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NIB, Egypt post collaborate to enhance financial stability
This partnership aims to strengthen the NIB's pivotal role as a key economic and investment driver crucial for advancing development goals.
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Egypt, Citigroup mull cooperation to promote macroeconomic stability
Egypt endeavors to achieve economic and structural reforms and lure foreign direct investments (FDIs).