Latest in Tag: Finance Highlight
Latest in Tag: Finance
High demand for ‘tax-free car import for expats’ initiative: Finance Minister
10,000 registered on digital platform of initiative within 48 hours: Maait
Egypt Forum for International Cooperation, Meeting of African Ministers of Finance part of lead-up to COP27
The minister also discussed with Citibank ideas related to global financial and structural solutions to climate finance issues
Inventory of funds, special accounts completed: Minister of Finance
Financial governance of state to be reinforced to ensure optimal use of public resources
Egypt’s Finance Ministry plans to issue 35 bids for treasury bills and bonds worth EGP 315.5bn in August
The ministry is offering 20 bills bids worth EGP 264bn and 15 bond bids worth EGP 51.5bn
MSMEDA pumped EGP 40bn to finance 1.6m SMEs over the past eight years
Over 1,000 exhibitions were organised where sales, contracts exceeded EGP 500m: Trade Minister
African Ministers of Finance, Economy, Environment to discuss financing and climate issues
This came in a bilateral meeting with Malian Minister of Finance and Economy Alousseni Sanou on the side-lines of their participation in the annual meetings of the African Export-Import Bank (Afreximbank) to discuss ways to enhance bilateral relations in various fields within the framework of Egyptian efforts to achieve continental integration.
Finance Ministry continues efforts to integrate informal economic sector, collect due taxes
Governance of tax system reinforced through unified electronic platform
Egypt’s Financial Regulator, finance companies discuss growth increase of financing activities
Factoring firms welcome discounting futures rights of brokerage firms to stimulate trading operations
German institutions offer €132.8m to finance 11 projects in Egypt
The targeted projects are in different fields, including technical and vocational education, employment promotion, supporting the private sector, credit guarantee system, solid waste management, and effective use of water, according to a Monday statement by the Ministry.
FRA issues controls for licensing SME finance companies
Under establishment SME finance companies shall have issued and paid-up capital of not less than EGP 30m
Sustainable finance poised for growth in Middle East: HSBC survey
Middle East sustainable finance market is at an earlier stage of development than Europe, Asia, and North America
FRA amends financial solvency standards to mortgage finance companies
The amendment covers the issuance of a regulatory procedure to adjust mortgage finance activity.
Egypt ministerial meeting discusses waste-to-energy finance
WTE occurs by burning waste in specialised incinerators without need to separate waste into components
Egypt signs $2bn conventional, Islamic facility to finance budget deficit
According to a Ministry of Finance statement, on Monday, the facility was closed by Emirates NBD Capital Limited, the investment-banking arm of Emirates NBD, and First Abu Dhabi Bank (FAB) as the transaction’s global coordinators, mandated lead arrangers, and book runners.
Fawry raises capital by EGP 400m to finance expansions
The capital raise will take advantage of favourable markets conditions, whilst helping the company to accelerate its strategy in developing mobile services. The cash injection is also set to boost its acceptance of payments on all payment channels, and strengthen its integration of digital solutions.
FRA adds new commodities, services under consumer finance umbrella
The move aims to facilitate the financing of their purchase, and to facilitate the meeting of consumer needs.
No current plan for debuting EFG Hermes Finance on stock market: Group’s MD
Recovery from coronavirus crisis could take up to 18 months: Head of Research at EFG
Mortgage finance companies provide funds of EGP 423m in two months
Investors with incomes of up to EGP 2,500 acquired EGP 18m in 171 mortgage contracts during the first two months of 2020. This compared to EGP 90.6m in 861 mortgage contracts in the first two months of 2019.
Mortgage finance increases 46.6% yoy in January: FRA
The FRA said that the value of mortgage refinancing decreased to EGP 14m in January 2020, compared to EGP 101m in the same period last year. This marks an 86% decline.
Finance, Trade ministers sign 31 settlement agreements for late dues for exporters
Export Development Fund spends EGP 291m on 12 companies under stimulating investment initiative
Banks in Egypt inject EGP 144.2bn to finance MSMEs from Dec. 2015 to June 2019: CBE
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
20 banks finance 254,200 beneficiaries by EGP 24.6bn in CBE’s mortgage finance initiative
8 companies inject EGP 1.5bn, Taamir Mortgage tops with EGP 551.6m with 4,800 clients
EFG Hermes Finance intends to rely on financial technology in NBFS
EFG-Hermes Leasing considers new securitisation worth EGP 300-400m in Q4 of 2019
MNHD, AAIB sign EGP 300m loan agreement to finance Sarai project
Naeem maintains BUY reccomendation for MNHD with TP of EGP 8.59/share
UNIDO allocates $5.6m to finance energy efficiency improvement projects in factories
Allocated financing to be used in solar heating and electric motors
Mashreq Bank – Egypt launches mortgage finance initiative to support low-income groups
Bank continue to participate in CBE initiatives, says El Bahey
Parliament approves Egypt’s largest-ever budget of EGP 1.6tn for FY20
EGP 326.8bn for health and education, EGP 301bn for wages, EGP 149bn for food and commodities subsidies
Egypt’s budget deficit drops to 5.6% in 10M of FY 2018/19
According to the financial report, the overall deficit declined as a result of the higher growth rate in revenues than the growth rate of expenditures
IFC invests close to $200m in Egypt, eyes opportunities in infrastructure, manufacturing sectors
The International Finance Corporation (IFC), a World Bank Group member, invested close to $200m in the Egyptian market over the last eight months, the IFC Country Manager for Egypt, Libya, and Yemen, Walid Labadi, told Daily News Egypt (DNE). The IFC chose Egypt earlier as a model for its investments in Middle East and Africa. …
CBE sets new controls for mortgage finance initiative for low-income individuals
Mortgage finance will be provided for clients who meet CBE’s conditions