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" remittances"

103 results

Business - Economy
6/12/2024 12:54:08 PM
​The World Bank maintained its projections for Egypt’s real GDP growth in both 2024 and 2025 at 2.8 percent and 4.2 percent, respectively, compared to the last projections released in April, according to the Global Economic Prospects report released on Tuesday.

Business - Economy
3/7/2024 10:46:03 PM
Egypt's recent economic movements in line with its economic reform program will benefit the Egyptian economy, senior vice president and group country manager for North Africa, Levant, and Pakistan (NALP) at Visa Leila Sarhan told Ahram Online, adding that Visa is closely following the developments in Egypt.

Business - Tech
2/28/2024 12:09:34 PM
The value of the global cross-border digital remittance market reached $148.08 billion in early 2023 and is expected to achieve a compound annual growth rate of over 12.5 percent to reach $339.8 billion by 2030, according to a report released by the UAE-based business-to-business prepaid products provider Prepay Nation on Tuesday.

Business - Markets & Companies
2/11/2024 12:31:46 PM
Visa signed a memorandum of understanding (MoU) with Egyptian Banks Company (EBC) in collaboration with the Central Bank of Egypt (CBE) to facilitate and enhance the process of international remittances for Egyptians living abroad, Visa announced on Sunday.

Business - Economy
1/30/2024 1:32:22 PM
S&P Global Rating Agency expects that Egypt is likely to devalue its currency to align it more accurately with the parallel market rate, according to a recent report released by the agency.

Business - Economy
1/8/2024 2:13:11 PM
Egypt plans to increase its annual foreign currency revenue from exports, tourism, remittances, foreign direct investments (FDIs), the Suez Canal, and outsourcing services to $300 billion in 2030 from around $100 billion, according to a government document released this month.

Business - Economy
1/6/2024 7:05:33 PM
Egypt’s current account deficit decreased by 12.1 percent to $2.8 billion during the period between July and September 2023, compared to $3.2 billion a year prior, according to the data released by the Central Bank of Egypt (CBE) on Thursday.

Business - Economy
1/3/2024 8:52:21 PM
Remittances from Egyptians working abroad dropped 29.22 percent to $4.52 billion in the first quarter of the fiscal year 2023/2024 (July-September) from $6.39 billion in the same period a year earlier, according to data released by the Ministry of Planning.

Business - Economy
12/27/2023 2:19:48 PM
Egyptian expats’ remittances are expected to have declined by over 15 percent to $24.2 billion in 2023 from $28.3 billion in 2022, according to a recent report released by the World Bank (WB) in December.

Business - Economy
10/4/2023 10:20:49 PM
Egypt turned a $10.5 billion deficit in its Balance of Payment (BoP) in FY2021/2022 to a surplus of $882 million in FY2022/2023, catapulted by record revenues from tourism and the Suez Canal.

Business - Tech
9/11/2023 4:57:28 PM
The Central Bank of Egypt (CBE) has approved the addition of five new services to its InstaPay application, such as paying bills and recharging the balance.

Business - Economy
7/25/2023 9:03:25 PM
Revenue from the Suez Canal and tourism in Egypt rose by 22.3 percent and 25.7 percent, respectively, during the first nine months of the fiscal year (FY) 2022/2023, while remittances from Egyptian expats dropped over 26 percent, according to a report published by the Central Bank of Egypt (CBE) on Tuesday.

Business - Economy
7/18/2023 8:22:33 PM
The Central Bank of Egypt (CBE) is considering enabling Egyptian expats to send remittances via the InstaPay app from countries including Saudi Arabia, the UAE, and Jordan, said Ehab Nasr, Deputy Governor for Payment System, on the sidelines of Seamless North Africa.

Business - Economy
7/13/2023 3:28:15 PM
Foreign currency deposits at Egyptian banks have reached around $50 billion and they are safe, said the Federation of Egyptian Banks (FEB) in a statement on Wednesday.

Business - Economy
6/19/2023 6:07:43 PM
Egypt ranked sixth among low and medium-income countries that received remittances in 2022, a slight decline from its fifth place ranking from the previous year, according to a report by the World Bank in June.

Business - Economy
6/4/2023 2:17:00 PM
Remittances by Egyptians working abroad plunged by 23 percent during the first half (H1) of the fiscal year 2022/2023, declining to $12 billion from $15.6 billion in the same period a year earlier, according to data from the Central Bank of Egypt (CBE) in May, adding further strain to the country's foreign currency reserves.

Business - Economy
5/31/2023 2:03:35 PM
Egypt's Minister of Planning and Economic Development, Hala El-Said, announced Tuesday in the Senate that the government aims to collect $83 billion in foreign currencies during FY 2023/24 through four streams, according to an official statement.

Business - Economy
5/21/2023 5:45:49 PM
Egyptian expats’ remittances from Arab countries declined in fiscal year 2021/2022, while trade with these same countries increased over the 2022 calendar year, according to a statement from the Central Agency for Public Mobilization and Statistics (CAPMAS) on Sunday.

Egypt - Society
3/7/2023 1:30:08 PM
The Egyptian government has no intention of taxing the income or remittances of Egyptians working abroad, Egypt's Minister of Emigration and Expatriate Affairs Soha Gendy said on Tuesday.

Business - Economy
1/16/2023 5:54:53 PM
Egypt has received $925 million in indirect investments in local debt instruments since Wednesday, increasing the country’s reserves of hard currency in addition to an increase from the local market, Egyptian expats remittances, and the tourism sector, the Central Bank of Egypt said on Monday.

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