Business
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Economy
12/18/2024 12:58:58 PM
Fitch Solutions has downgraded its forecasts for Egypt’s real GDP growth in the current FY2024/2025, which ends by June 2025, from 4.2 percent to 3.7 percent, according to Egypt’s Country Risk Report released on Wednesday.
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Business
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Economy
11/19/2024 1:54:32 PM
Fitch Ratings has raised the Long-Term Issuer Default Ratings (IDRs) of the largest four banks in Egypt following the recent upgrade of the country's sovereign rating, a statement said on Tuesday.
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Business
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Economy
11/2/2024 1:13:10 PM
Fitch Ratings announced on Friday that it has upgraded Egypt's long-term foreign-currency Issuer Default Rating (IDR) from B- to B, with a stable outlook.
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Business
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Economy
9/9/2024 10:28:11 AM
The interest rate in Egypt is anticipated to fall to 16.25 percent by the end of 2025 down from 28.25 in 2024, BMI Research, a Fitch Solutions company, said in a report in August.
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Business
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Economy
8/14/2024 2:54:00 PM
The Ministry of Electricity and Renewable Energy plans to add up to 30 gigawatts (GW) of renewable energy capacity to the national grid, with anticipated fuel savings equivalent to $4.1 billion annually, according to Minister of Electricity and Renewable Energy Mahmoud Esmat.
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War on Gaza
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War on Gaza
8/13/2024 10:05:00 AM
US credit rating agency Fitch downgraded Israel a notch on Monday, warning that its ongoing conflict against Hamas in Gaza could last "well into 2025" and weigh on economic activity.
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Business
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Economy
8/12/2024 7:14:14 PM
BMI, a research firm associated with Fitch Solutions, forecasts a depreciation of the Egyptian pound against the US dollar throughout the remainder of 2024.
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Business
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Economy
7/10/2024 10:55:48 PM
BMI, a Fitch Solutions company, expected the Central Bank of Egypt (CBE) to keep its monetary tightening policy on hold, which means keeping the current key interest rates unchanged till the end of 2024 in response to the downturn path of the country’s inflation.
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Business
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Economy
6/26/2024 4:50:25 PM
International credit rating agency Fitch downgraded the Maldives Wednesday and warned that South Asia's tourist paradise could be headed for a sovereign default on its foreign loans.
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Business
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Economy
5/19/2024 10:43:56 PM
Fitch Ratings has revised its outlook on four Egyptian banks to positive from stable, affirming their long-term issuer default ratings at B-, the US-based credit rating agency announced on Saturday.
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Al-Ahram Weekly
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Economy
5/7/2024 9:16:05 PM
Egypt is ticking a lot of boxes, according to international financial institutions, reports Sherine Abdel-Razek
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Business
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Economy
5/6/2024 4:43:22 PM
Some hope that Egypt’s Stock Exchange (EGX) will regain in May the heavy losses incurred in April in response to the geopolitical tensions in the region along with other local developments.
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Business
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Economy
5/4/2024 6:47:00 PM
Fitch Ratings upgraded its outlook for Egypt's Long-Term Foreign-Currency Issuer (LFTC) to positive from stable while affirming its issuer default rating at B-, the credit rating agency announced in its report on Egypt on Friday.
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Business
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Economy
2/28/2024 1:05:05 PM
The International Monetary Fund (IMF) has resolved key issues with Egyptian authorities regarding the reviews of its $3 billion loan programme and will announce the final financing package within weeks, Kristalina Georgieva, managing director of the IMF, said in an interview with Reuters.
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Business
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Economy
2/1/2024 8:35:31 PM
Global investment banks Goldman Sachs and Pictet Asset Management issued recommendations urging investors to purchase Egypt's US dollar-denominated bonds, according to a report by Bloomberg.
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Business
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Economy
1/31/2024 3:28:49 PM
As Egypt is facing a tough economic situation, various global economic institutions have given different projections for Egypt's real GDP growth in 2024.
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Business
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Economy
1/22/2024 6:05:09 PM
Global credit rating agency Moody's has expected the International Monetary Fund (IMF) to increase its existing $3 billion loan programme for Egypt to $10 billion, according to a recent report by the agency.
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Business
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Economy
1/16/2024 6:12:00 PM
Egypt's geopolitical significance demonstrated through its role as a mediator in containing Israel's conflict in Gaza is expected to draw increased foreign financial support, potentially exceeding $5 billion, according to Ramona Moubarak, the head of MENA Country Risk at Fitch Solutions.
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Business
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Economy
1/7/2024 2:00:50 PM
Egypt’s real GDP growth is projected at 4.1 percent in 2024 and the US dollar exchange rate to jump to EGP 39.7 through end of the year, BMI Country Risk and Industry Analysis, one of Fitch Solutions’ services, said in a new report shared with Ahram Online.
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Business
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Economy
12/16/2023 7:32:13 PM
Despite Egypt’s racing time to fulfill its commitments under the $3 billion loan deal with the International Monetary Fund (IMF), 2023 witnessed no progress from the Egyptian side in terms of the completion of the first and second reviews under the programme.
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