Finance News
-
Egypt’s Rabbit Mobility raises $1.3m to fuel expansion plans
Egyptian micromobility startup Rabbit Mobility has raised a US$1.3 million funding round to fuel its expansion across Egypt and other North Africa.
-
No devaluation expected after Banque Misr raised USD CDs yield
Raising the yields on US dollar-denominated certificates and other deposits by Banque Misr does not indicate an expected devaluation of currency.
-
Egypt’s GDP growth rate reached 2.4% in last FY
This is due to geopolitical tensions and challenges facing the Egyptian economy before the start of the economic reform program in March.
-
Zoho partners with Fawry Business to accelerate growth in Egypt
The increase in channel partners means it now appears to have 17 consulting partners in Egypt and two global GSIs operating in the region.
-
Egypt's United Bank to list on Cairo stock exchange on Oct. 24
United Bank made a net profit of 1.74 billion Egyptian pounds in the financial year to end June on assets of 106 billion Egyptian pounds.
-
Egypt to reevaluate timings for economic reforms with IMF
Egypt to start reevaluating the timing of economic reforms with The International Monetary Fund, Prime Minister Mostafa Madbouly announced.
-
Madbouly’s economy
For example, has he decided on salary increases every three months at the same rate as the increase in energy and fuel prices?
-
Egypt sees positive portfolio inflows amid debt, inflation challenges
Egypt's portfolio flows have been net positive in recent months, with significant inflows into local currency bonds despite the ongoing debt challenge
-
Egypt’s surges IFC’s capital by $28.9M to boost private sector financing
The IFC invested over $9 billion in Egypt, with an active portfolio of $2.3 billion spread across various sectors, including trade finance and health.
-
House of Representatives approves Egypt contribution to capital increase of IFC by $28.9 mln
The House of Representatives has approved Egypt's contribution to the capital increase of the International Finance Corporation (IFC) through a stake.
-
Egypt to allocate exceptional allowance for pensions and salaries
Egypt awaits the fourth review of the Extended Fund Facility (EFF) loan programme in November, which will grant access to a $1.3 billion tranche.
-
Egypt steadily moving towards more balanced tax system
The reforms are intended to create a fair and stable tax environment that eliminates barriers for taxpayers, treating them as partners in the process.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.