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28 March 03:59 PM Middle East, Eurasia make 32% of SMEs drawn to Dubai in 2023
UAE – Mubasher: Around 32% of the Small and Medium-sized Enterprises (SMEs) attracted by Dubai in 2023 originated from the Middle East and Eurasia. Meanwhile, 29% of SMEs drawn to the emirate come from Asia and Australia, according to data …
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28 March 11:45 AM CBE auctions EGP 55bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 55 billion through auctions on Thursday, 25 March 2024. The first offering includes EGP 35 billion worth of T-bills with an 182-day maturity …
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27 March 03:59 PM Egypt’s FX receipts drop 24% YoY in FY22/23 – CAPMAS
Cairo – Mubasher: Egypt's total foreign exchange receipts declined by 24% year-on-year (YoY) to $121.90 billion during the fiscal year (FY) 2022/2023 from $160.50 billion in FY 2021/2022. Total foreign exchange payments plunged by 27.10% YoY to …
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26 March 10:46 AM CIB’s shareholders nod for dividends, $1bn debt issuance
Cairo – Mubasher: The ordinary general meeting (OGM) of Commercial International Bank-Egypt (CIB) approved the distribution of EGP 0.55 per share in cash dividends for 2023. Eligible shares amount to more than 3.01 billion, according to a bourse …
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25 March 12:07 PM CBE unveils debt instruments on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) at a value of EGP 2.50 billion through one tranche. The auction will mature in three years on 19 March 2027, according to official data. The financial authority …
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24 March 12:32 PM CBE issues T-bills worth EGP 50bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 50 billion through auctions on Sunday, 24 March 2024. The two auctions stood at EGP 25 billion, each, with varied maturity periods, …
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21 March 12:09 PM CBE unveils T-bills worth EGP 60bn on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at a combined value of EGP 60 billion through auctions on Thursday, 21 March 2024. The first tranche stood at EGP 30 billion and will mature in 182 days on 24 …
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18 March 06:21 PM World Bank plans to support Egypt with over $6bn for different channels
Cairo – Mubasher: The World Bank Group intends to provide Egypt with more than $6 billion of support over the coming three years, subject to the board’s approval. The financial assistance includes $3 billion to support the Egyptian government’s …
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18 March 04:20 PM Egypt-EU bilateral trade exceeds $31bn in 2023
Cairo – Mubasher: The value of trade exchange between Egypt and the European Union (EU) dropped by 19.20% year-on-year (YoY) to $31.20 billion in 2023 from $38.60 billion, the Central Agency for Public Mobilization and Statistics (CAPMAS) data …
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18 March 11:46 AM CBE issues T-bonds worth EGP 3.25bn on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) worth EGP 3.25 billion on Monday, 18 March 2024, through two auctions. The first issue was valued at EGP 3 billion, holding a three-year tenor until 19 March 2027, …
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17 March 03:49 PM Egypt to achieve $26.5bn funding surplus over 4 years – Goldman Sachs
Cairo – Mubasher: Egypt's medium-term financing outlook is set to improve dramatically, with a projected surplus of $26.50 billion over the next four years, compared to a previous deficit of $13 billion. This positive shift is attributed to …
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17 March 11:43 AM CBE issues EGP 50bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 50 billion through equal two offerings on Sunday, 17 March 2024. The two tranches amounted to EGP 25 billion, with a varied maturity …
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14 March 12:39 PM CBE unveils EGP 60bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 60 billion through two auctions on Thursday, 14 March 2024. Each tranche stood at EGP 30 billion, according to the CBE’s official data. …
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13 March 02:44 PM EU readies EUR 7.4bn financial package for Egypt
Cairo – Mubasher: The European Union (EU) is preparing a financial aid package of EUR 7.4 billion for Egypt in the shape of grants and loans through 2027. Around EUR 1 billion are set to be disbursed immorality, while EUR 4 billion is tied to …
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12 March 03:27 PM Moody's affirms ratings of 5 key Egyptian banks; outlook turns positive
Cairo – Mubasher: Moody's Ratings has affirmed all ratings and assessments of five major Egyptian banks, changing the outlook of their long-term deposit ratings from negative to positive. The rating agency affirmed the Caa1 long-term deposit …
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12 March 12:01 PM UAE’s Al Ansari Financial Services witnesses surge in remittance to Egypt post pound devaluation
Dubai – Mubasher: Al Ansari Financial Services has reported a large increase in money transfers from the UAE to Egypt following the Central Bank of Egypt’s (CBE) decision to float the Egyptian Pound and liberate its exchange rate based on market …
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11 March 12:41 PM CBE offers EGP 4.75bn debt instruments on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) at an aggregated value of EGP 2.75 billion on Monday, 11 March 2024, through two issues. The first tranche stood at EGP 2.50 billion and will mature in three years …
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10 March 10:42 AM Egypt’s central bank issues EGP 50bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 50 billion through two issues on Sunday, 10 March 2024. The two tranches were valued at EGP 25 billion, each, according to official data. …
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7 March 02:48 PM Egypt auctions T-bills worth EGP 60bn on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) has issued treasury bills (T-bills) at an aggregated value of EGP 60 billion through two auctions on Thursday, 7 March 2024. Each tranche amounted to EGP 30 billion, while the duration periods …
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6 March 05:55 PM Egypt strikes new deal with IMF - PM
Cairo - Mubasher: Egyptian Prime Minister Mostafa Madbouly announced on 6 March that Egypt has reached a final deal with the International Monetary Fund (IMF). The deal includes a set of economic reforms required to complete the first and second …
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6 March 04:19 PM CBE directs local lenders to lift limit on foreign-currency credit cards
Cairo – Mubasher: The Central Bank of Egypt (CBE) has given its directives to banks operating in the country in order to lift spending limits on credit cards in all foreign currencies. This step aims at endorsing the stability of the local …
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6 March 03:01 PM USD hits record high of over EGP 50 at Egyptian banks
By: Muhammad Khalid Cairo – Mubasher: The official rate of the US dollar against the Egyptian pound hit its all-time high on 6 March 2024, as the Central Bank of Egypt (CBE) reportedly gave the green light for banks to apply free market roles to …
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6 March 01:00 PM Egypt’s net foreign reserves hit $35.3bn in February
Cairo – Mubasher: The net international reserves of Egypt amounted to $35.31 billion as of 29 February 2024, up by nearly $60 million from $35.24 billion last January. The recently registered amount was higher year-on-year (YoY) than $34.35 …
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6 March 11:50 AM Egypt's non-oil private sector gauge for February hits 11-month low amid FX shortage
Cairo – Mubasher: Egypt's non-oil private sector continues contraction in February 2024, hitting its lowest in 11 months, due to the drop in sales and the aggravated foreign exchange shortage. The headline seasonally adjusted S&P Global Egypt …
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6 March 11:13 AM CBE raises interest rates by 6%
Cairo – Mubasher: The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) decided in a special meeting to raise the interest rates by 600 basis points (bps), or 6%. The overnight deposit rate, the overnight lending rate, and the rate of …