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Central Bank of Egypt plans to develop new currency indicator

Arabiya Capital Staff -
Egypt’s central bank governor said Sunday that the country plans to develop a new currency indicator and add instruments to hedge against risks as...
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Qatar set to invest $2.5 billion in Egyptian companies, says report

Arabiya Capital Staff -
Qatar is reportedly in advanced talks to acquire as much as $2.5 billion of state-held stakes in Vodafone Egypt, the country’s biggest mobile network...
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Egypt nears deal with IMF after staff-level agreement

Arabiya Capital Staff -
Egypt’s finance minister reportedly said that his country has finalised a staff-level agreement with the international monetary fund (IMF) on the components of its...
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Egypt’s Telda raises $20 million in seed round led by Global Founders Capital

Arabiya Capital Staff -
Telda, an Egyptian consumer money app, raised $20 million in a seed funding round led by Global Founders Capital (GFC) with participation from Sequoia...
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Mastercard invests in Nclude to boost Egypt’s fintech ecosystem

Arabiya Capital Staff -
Mastercard said Tuesday that it has invested in Nclude, an Egyptian financial technology-focused investment fund, to accelerate the growth of the country’s fintech ecosystem...
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Egypt’s headline inflation quickens to 1.6% in September

Arabiya Capital Staff -
Egypt’s annual urban consumer inflation accelerated to 1.6% year-on-year in September, the fastest in almost four years signaling that consumers in the North African...
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Central Bank of Egypt reportedly eases foreign currency rules for imports

Arabiya Capital Staff -
The Central Bank of Egypt (CBE) reportedly eased restrictions on the use of foreign currency on Tuesday as part of the government’s broader strategy...
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Suez Canal to increase transit tolls for ships by 15% in 2023

Arabiya Capital Staff -
Egypt’s Suez Canal Authority (SCA) will increase transit tolls for ships passing through one of the world’s most vital trade routes by 15% from...
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Banque Misr gets $100 million loan from EBRD to boost green investments in SMEs

Arabiya Capital Staff -
The European Bank for Reconstruction and Development (EBRD) has granted a $100 million loan to Banque Misr to lend to small and medium-sized enterprises...
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Credit Agricole increases stake in Egyptian subsidiary

Arabiya Capital Staff -
Crédit Agricole Group acquired 60 million additional shares in its Egyptian unit Crédit Agricole Egypt, taking shareholding to 52.185% stake from 47.385%. “This bears witness...
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