Latest in Tag: Finance Highlight
Latest in Tag: Finance
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
Egypt signs protocol to finance establishing first actuarial life table
Statistics calculate remaining life expectancy for people at different ages, probability of surviving to given age
SMEDA pumped EGP 3.1bn to finance development projects in Assiut: Gamea
MoU signed between SMEDA, Assiut University to qualify graduates to establish, manage small projects
SMEDA, Tahya Misr Fund finance 468 pickup trucks, 1,000 taxis for youth
Supply Ministry uses refrigerated cars to cover citizens’ needs for ration goods in various governorates
SMEDA, NBE sign EGP 400m deal to finance small projects
The deal will benefit 2,288 small projects, offer 6,864 jobs
AIB allocates EGP 100m to finance microprojects: chairperson
Bank injected EGP 80m to finance microprojects through associations, companies
ABE, SMEDA sign EGP 40m deal to finance women projects
60% of deal’s value allocated to women below poverty line