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FRA okays ADIB Egypt’s capital hike request
The Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) has received the Financial Regulatory Authority’s (FRA) approval to proceed with the capital raise procedures.
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Egypt’s Regulator issues first license for Islamic microfinance activity
Chairperson of the Financial Regulatory Authority (FRA) Mohamed Farid revealed that the authority issued its first license to a financial institution to engage in financing micro enterprises according…
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Egypt to start a trade mission to Kenya in October sponsored by BM
Under the auspices of Banque Misr (BM) as a financing agency, Egypt’s Chemical and Fertilisers Export Council — in cooperation with the Export Council for Building Materials and Egyptian Commercial…
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Egypt approves exceptional measures to ease releasing imports
Egypt’s Finance Minister Mohamed Maait said that a package of exceptional measures has been approved to facilitate the release of imports and to ease burdens on investors and importers amid the…
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Egypt pledges 6% budget deficit, 1.6% initial surplus
Egypt has pledged to the International Monetary Fund (IMF) to attain the overall budget deficit at six percent of GDP and to raise the initial surplus by 1.6 percent in FY 2022/2023, Minister of…
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Banque du Caire seen a growth of 6% in standalone pretax profits during H1
Egypt’s state-owned lender, Banque du Caire (BdC)announced that it has seen a 6 percent year-on-year growth in standalone pre-tax profit for the first half of the year.
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Acting Governor, discuss ways to exempt production equipment imports from letter of credit system
Egypt's Prime Minister Mostafa Madbouly has followed up on the steps taken to implement a decision to exempt the importers of production equipment from having to use the Central Bank of Egypt’s (CBE)…
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Egypt to begin pilot operation of world’s largest spinning factory in 2023
Egypt is set to start in 2023 the experimental operation of a new spinning factory, described by the government as the world's largest factory, located in the Nile Delta’s El-Mahalla city, according…
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Egypt’s PMI rises 6.56% in June
Production index of manufacturing and extractive industries (excluding crude oil and petroleum products) rose 6.56 percent in June on a monthly basis, recording 119.38 (primary), compared to 112.3 in…
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Elsewedy Electric’s subsidiary signs two deals worth over EGP 1bn
Elsewedy Electric Co announced that its 99.80%-owned subsidiary, El Sewedy Electric for Trading and Distribution, has signed two new contracts with the Egyptian Electricity Transmission Company.
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