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Business
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Markets & Companies
8/6/2023 6:43:57 PM
Al Ezz Dekheila Steel Alexandria, Egypt's biggest steel manufacturer, is seeking syndicated loans in foreign currency to finance the purchase of shares from shareholders unwilling to remain with the company after the delisting from the Egyptian Exchange (EGX), according to a bourse filing on Sunday.
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Business
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Economy
8/3/2023 6:27:10 PM
The European Bank for Reconstruction and Development (EBRD) has invested €27 million in securitized bonds issued in Egypt to support municipal infrastructure projects.
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Business
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Economy
8/2/2023 4:33:49 PM
Fitch has downgraded its credit rating for the United States, becoming the second of the top-three ratings agencies to strip the country of a top AAA rating. The impact upon the world's top economy is likely to be just symbolic, at least immediately.
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Business
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Economy
8/2/2023 10:46:12 AM
Fitch downgraded the United States' top-notch credit rating by a step on Tuesday, citing a growing federal debt burden and an "erosion of governance" that has manifested in debt limit standoffs.
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Al-Ahram Weekly
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World
8/1/2023 8:11:07 PM
The Russian decision to cancel African debt and provide grain to the neediest countries at last week’s Russia-Africa Summit is part of a plan to woo the African continent, writes Karam Said
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Business
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Economy
8/1/2023 7:53:08 PM
Abdel Fattah El-Gebaly, assistant rapporteur of the Public Debt Committee at the National Dialogue, warned that Egypt's public debt has reached 113 percent of gross domestic product and risks becoming unsustainable.
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Business
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Economy
8/1/2023 6:48:00 PM
The deficit in Egypt's net foreign assets surged by over 125 percent on a yearly basis in June, according to data released by the Central Bank of Egypt (CBE) on Tuesday.
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Business
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Economy
7/31/2023 5:53:39 PM
Egypt's government debt-to-GDP ratio is expected to reach 97 percent at the end of June 2023, according to Minister of Finance Mohamed Maait.
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Business
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Economy
7/31/2023 9:30:00 AM
Egypt’s informal economy still accounts for 40 percent of GDP, despite government efforts to regulate it through formal integration, according to recent data from the Cabinet's Information and Decision Support Center (IDSC).
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Business
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Economy
7/30/2023 4:06:53 PM
The Arab Monetary Fund (AMF) has lent Egypt $615.8 million to support a reform programme in the country's financial and banking sector, according to a statement by the AMF on Sunday.
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World
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Africa
7/28/2023 6:47:04 PM
During the plenary session held on the second day of the Russia-Africa summit, in the presence of President Abdel-Fattah El-Sisi and African leaders, President Vladimir Putin emphasized Russia's efforts to reduce the burden of debt on African countries.
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Business
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Economy
7/27/2023 3:19:17 PM
Egypt’s external debt rose by 4.8 percent to $165.3 billion in the third quarter (Q3) of the fiscal year 2022/2023, compared to $157.8 billion in the same quarter the previous year, according to data released by the Central Bank of Egypt (CBE).
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Egypt
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Politics
7/26/2023 6:25:36 PM
Egypt's National Dialogue will return from an extended holiday to hold a new round of public sessions next week discussing political rights, public debt and cultural industries among other topics.
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Business
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Economy
7/26/2023 2:24:10 PM
The Central Bank of Egypt (CBE) auctioned EGP 83 billion ($2.7 billion) in treasury bills (T-bills) on Tuesday to finance the government's debt, with two maturities available.
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Business
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Economy
7/22/2023 11:05:43 PM
Sri Lanka is considering the possibility of allowing the use of the Indian rupee for local transactions, as the island nation struggles to build its depleted foreign reserves and to emerge from last year’s unprecedented economic crisis.
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World
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War in Ukraine
7/18/2023 6:53:13 PM
G20 finance chiefs ended talks in India Tuesday with disagreement over Russia's war in Ukraine, limited progress on debt restructuring and warnings that divisions between rich and poor nations risked deepening poverty.
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Business
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Economy
7/18/2023 2:33:50 PM
Africa's total debt stock is estimated at $1.3 trillion, and the cost of debt reached $22 billion in 2022, with expectations that it will further increase in 2023, Akinwumi Adesina, president of the African Development Bank (AfDB) Group, said on Monday.
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Business
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Economy
7/17/2023 12:55:34 PM
Egypt has achieved a primary budget surplus of EGP 164.3 billion ($5.3 billion) in FY 2022/2023, said the Ministry of Finance.
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World
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International
7/17/2023 11:14:15 AM
G20 finance ministers and central bank chiefs opened talks Monday on debt restructuring deals, multilateral bank reform and finance to tackle climate change, as they aim to bolster a sagging global economy.
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World
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International
7/16/2023 9:58:48 AM
G7 finance chiefs are set to discuss Sunday aid to war-stricken Ukraine, debt distress faced by struggling economies, bank reform and a global tax deal, alongside wider G20 meetings in India.
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