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War in Ukraine
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Economy
5/17/2022 8:43:29 PM
Italian energy giant Eni said Tuesday it was opening accounts in euros and in rubles to fulfil payments due imminently for the supply of Russian gas, thus complying with Moscow's demands.
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Business
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Economy
5/15/2022 2:04:17 PM
The Central Bank of Egypt (CBE), in collaboration with the Ministry of Finance, has replaced 4.1 out of 4.3 million payroll slips for state-employees with Meeza cards, the bank announced on Sunday.
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Business
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Markets & Companies
4/21/2022 5:15:25 PM
The revenues for Egypt-based e-payment platform Fawry climbed by 34.3 percent in 2021 to reach EGP 1.6 billion, with a growth in profit valued at EGP 932 million, an increase of 39.6 percent, according to the company’s financial statement released on Thursday.
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Al-Ahram Weekly
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Economy
4/12/2022 10:17:52 PM
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War in Ukraine
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Economy
4/6/2022 11:14:59 PM
Russia said Wednesday that it made a debt payment in rubles this week, a move that may not be accepted by Russia's foreign debt holders and could put the country on a path to a historic default.
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War in Ukraine
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Economy
4/5/2022 3:59:10 PM
The United States starting Tuesday will bar Russia from making debt payments using funds held at American banks, ramping up the economic pain on Moscow over its invasion of Ukraine, the US Treasury said.
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World
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Region
3/31/2022 6:00:05 PM
Italian Premier Mario Draghi said Thursday that he had received assurances from Russia's leader that Europe would not have to pay for natural gas in rubles as demanded, similar to pledges that Germany received, and diffused fears that Moscow would cut off supplies that are used for heating and electricity.
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Business
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Economy
3/31/2022 12:28:02 PM
Central Bank of Egypt (CBE) has signed an agreement with the Arab Monetary Fund (AMF) to register with the AMF’s Buna platform that governs intra-payment settlements and set-offs in the Arab region, CBE announced on Thursday.
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War in Ukraine
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Economy
3/25/2022 7:37:55 PM
Bitcoin on Friday rose above $45,000, boosted by talk that the Kremlin could accept the world's biggest cryptocurrency in exchange for Russian gas.
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Business
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Tech
3/24/2022 11:08:47 AM
The Central Bank of Egypt (CBE) launched on Wednesday the National Instant Payment Network and InstaPay mobile application, which will allow clients to process electronic fund transfers instantly, seamlessly and at any time.
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War in Ukraine
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Economy
3/23/2022 3:01:47 PM
President Vladimir Putin said Wednesday Russia will only accept payments in rubles for gas deliveries to "unfriendly countries", which include all EU members, after Moscow was hit by unprecedented sanctions over Ukraine.
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War in Ukraine
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Economy
3/17/2022 8:10:45 PM
Russia's Finance Ministry said it transferred a $117 million bond interest payment in an attempt to avoid a default on government debt but left it open if the money actually reached foreign investors by the deadline.
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War in Ukraine
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Economy
3/15/2022 11:09:56 AM
The government in Kyiv continues to function, the banking system is stable and debt payments are viable in the short term, but the Russian invasion could plunge Ukraine into a devastating recession, the IMF said late Monday.
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War in Ukraine
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Economy
3/6/2022 9:24:35 PM
US credit card and payments giant American Express said Sunday it is suspending its operations in Russia and Belarus over Moscow's "unjustified" attack on Ukraine, the latest financial services blow to Russia over its invasion.
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War in Ukraine
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Economy
3/2/2022 5:10:21 PM
The European Union on Wednesday cut seven Russian banks from the SWIFT payment system and banned Kremlin-controlled media outlets RT and Sputnik from broadcasting into the bloc.
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Business
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Tech
2/20/2022 3:38:42 PM
Fintech witnessed significant growth in the Egyptian market over the past five years, as venture capital investments rose to $159 million with 32 deals concluded in 2021, up from only $1 million raised in 2017 from three fintech deals, according to Fintech Egypt’s report.
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Business
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Markets & Companies
2/15/2022 1:04:23 PM
Noqood Holding Company launched its first fintech services online platform in Egypt through a sister company, KashNow, for instant payments services with a portfolio valued at approximately EGP 500 million in 2022.
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Al-Ahram Weekly
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Economy
2/11/2022 7:51:00 PM
Experts are betting that the Egyptian economy can handle the aftermath of the pandemic, write Niveen Wahish and Sherine Abdel-Razek.
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Business
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Economy
2/2/2022 4:51:03 PM
Egypt’s balance of payments attained an overall surplus of $311.4 million in the first quarter (1Q) FY2021/2022 (July-September 2021), the Central Bank of Egypt (CBE) announced on Wednesday.
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Business
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Markets & Companies
1/20/2022 3:41:43 PM
Fawry for Banking and Payment Technology Services S.A.E. announced on Thursday that it plans to list a portion of its shares in the US stock market in a filling submitted to the Egyptian Exchange (EGX).
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