finance

CBE launches $3.5-bilion initiative for using modern and smart irrigation methods

Thu, 25 Nov 2021 - 11:28 GMT

The benefited farmers shall pay the cost of switching to modern irrigation systems in interest-free installments over 10 years.

Arab Fund for Social and Economic Development to finance Egyptian SMEs with $30M

Wed, 24 Nov 2021 - 08:30 GMT

Saad pointed out that the fund's focus now is investing in green economy as well as cooperating with the private sector.

LE 54M allocated to casual workers in Alexandria as part of EIB-MSMEDA agreement

Fri, 01 Oct 2021 - 08:45 GMT

A total of L.E. 54 million was allocated to casual workers in Alexandria to implement a number of developmental projects, in accordance with an agreement signed between the Micro, Small and Medium Enterprise Development Agency (MSMEDA) and the European Investment Bank (EIB).

Finance min. appoints Reda Abdel Kader as head of tax authority

Fri, 20 Aug 2021 - 11:40 GMT

The authority said in a statement that the minister's decision came after a presidential decree no. 357/2021 on extending the service of Abdel Kader for one year as of July 30, 2021.

Egypt's transport sectors highest receipt of financing from partners at $1.8B

Thu, 19 Aug 2021 - 02:44 GMT

This came during Al-Mashat’s meeting with Ibrahim Dajani, Regional Director for Sustainable Development and Infrastructure in the Middle-East and North Africa Region at the World Bank Group (WBG), during his visit to Egypt.

HC Securities, Contact Factoring cooperate to finance stock exchange investors by LE 400M

Wed, 18 Aug 2021 - 03:37 GMT

This cooperation provides the first discounting program for the purchase of securities on margin. It contributes to enriching the trading operations in the Egyptian Stock Exchange and expanding the base of traders, which will reflect on the growth of the Egyptian economy, according to a press release issued Wednesday.

Egypt allocates more than LE 600B to develop countryside

Wed, 02 Jun 2021 - 02:56 GMT

The Egyptian minister pointed out, in a statement, Wednesday, that LE 75 billion have been allocated in the new budget for "dignified life" projects in villages.

President Sisi follows upon state's banking sector activity

Mon, 10 May 2021 - 11:27 GMT

The meeting addressed lands in Egypt’s governorates, which are owned by government banks, the assets of which were discussed in detail.

CPYP delegation attends stock market trading session, discusses with EGX head promotion of financial awareness

Mon, 10 May 2021 - 07:37 GMT

During the meeting, Farid tackled the comprehensive economic reform that has been adopted by the Egyptian government financially, monetarily, and structurally, the statement said.

In pics: EU, Spain ambassadors visit Aga Khan projects in Egypt, express admiration of Azhar Park

Wed, 17 Mar 2021 - 03:01 GMT

The ambassadors of the European Union and Spain visited the Aga Khan projects in Egypt, and expressed their admiration for Al-Azhar Park.

Africa Finance Corporation hires Blackstone’s Zarou CEO, Sameh Shenouda, as CIO

Wed, 17 Feb 2021 - 12:45 GMT

Mr. Shenouda brings over 27 years of experience in investments and fundraising in international capital markets, with a focus on infrastructure development, setting up new platforms and supporting management teams.

IFC finances Pasabahce Egypt with $30M to support exports, sustainable glass production, jobs

Tue, 16 Feb 2021 - 03:34 GMT

IFC clarified in a statement that the objective of the funding is to help the company boost exports, introduce cleaner production practices, and create jobs.

New one-pound coins with ‘Egypt’s Medical Staff’ slogan to be issued: Minister

Fri, 05 Feb 2021 - 05:42 GMT

The Egyptian Mint Authority will issue 10 million of 1-pound coins and five million of 50-piaster coins with a slogan of “Egypt’s Medical Staff,” the minister added.

Egypt secures $9.8B in funds in 2020 through 'economic diplomacy': minister

Mon, 28 Dec 2020 - 03:30 GMT

"Economic diplomacy" is aimed at bridging funding gaps in vital projects in Egypt, Minister Mashat highlighted.

Finance min.: Promoting transit trade of Sudanese goods via Egyptian ports

Sun, 27 Dec 2020 - 11:03 GMT

"Egypt will offer full support to the Sudanese side to overcome all obstacles hindering flow of goods," the minister said.

Minister highlights fact on French loans to Egypt in 2019-23

Thu, 10 Dec 2020 - 10:22 GMT

Egypt is receiving €1 billion during that period.

When are entities obliged to use cashless payment methods?

Thu, 03 Dec 2020 - 12:49 GMT

There is a global trend to adopt policies that reduce cash dealings, and encourage the use of banking e-financial methods.

E-receipt system to be launched on Sunday for 1st time in Egypt

Fri, 13 Nov 2020 - 01:48 GMT

Afterwards, the remaining companies will be joining the new system successively until the end of June, 2021, Maait added.

Afreximbank, AFD in Egypt present visions on post-COVID-19 recovery

Tue, 10 Nov 2020 - 01:54 GMT

The event is part of their shared effort to foster sustainable development as Africa recovers from the COVID-19 pandemic.

Arab Fund postpones Egypt's payback for 1 year because of COVID-19

Wed, 14 Oct 2020 - 08:02 GMT

The Cabinet ratified on Wednesday the initiative of the Arab Fund for Economic and Social Development (AFESD) to push back the due dates of loan installments and interests.

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