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Business
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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.
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Business
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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.
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Business
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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.
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Business
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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.
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Business
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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.
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Business
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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.
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Business
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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.
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Business
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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.
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Business
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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.
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Egypt
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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.
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Business
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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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Business
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Economy
8/23/2022 12:38:26 PM
Egyptian expats’ remittance inflows to Egypt grew in FY2021/2022 by 1.6 percent to post $31.9 billion, up from $31.4 billion recorded in FY2020/2021, the Central Bank of Egypt (CBE) announced on Tuesday.
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Business
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Economy
8/4/2022 10:22:33 PM
Egypt enjoyed a significant increase in revenue from tourism and transport receipts as well as a modest increase from workers’ remittances through the third quarter of the previous fiscal year, according to data released by the Central Bank of Egypt (CBE) on Thursday.
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Business
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Economy
7/31/2022 5:42:39 PM
Remittances sent by Egyptian expats went up 2.1 percent year on year in the first 11 months of the past 2021/2022 fiscal year, recording $29.1 billion, the Central Bank of Egypt (CBE) announced on Sunday.
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Business
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Economy
5/17/2022 1:00:52 PM
Remittances of Egyptian expats rose by 12.8 percent in March to reach $3.3 billion, up from then $2.9 billion recorded in the corresponding month of 2021, according to the Central Bank of Egypt (CBE).
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Business
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Economy
3/14/2022 6:40:59 PM
The Central Bank of Egypt (CBE) said on Monday that remittances from Egyptians working abroad recorded about $31.5 billion in 2021, with an increase of nearly $1.9 billion and at a rate of 6.4 percent, compared to $29.6 billion in 2020.
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Business
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Economy
2/24/2022 2:58:00 PM
Egyptian expats' remittances rose by 6.6 percent ($1.8 billion) from January to November 2021 to post $28.9 billion, compared to the corresponding period in 2020, Central Bank of Egypt (CBE) announced on Thursday.
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Business
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Economy
12/21/2021 4:57:09 PM
Egyptian expats’ remittances inched up during the first quarter (1Q) of the current FY2021/2022 — July to September 2021 — by 1.5 percent, on an annual basis, to post $8.1 billion, up from about the $8 billion recorded in the same quarter of FY2020/2021, the Central Bank of Egypt announced on Tuesday.
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Egypt
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Foreign Affairs
11/30/2021 8:21:07 PM
Egypt’s Foreign Minister Sameh Shoukry said on Tuesday that the COVID-19 pandemic has significantly impacted migration flows and labour mobility as well as remittances from expats to their home countries.
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Al-Ahram Weekly
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Economy
11/21/2021 11:23:00 AM
Financial remittances from abroad can enhance economic growth and promote development in the Arab world, Secretary-General of the Union of Arab Banks Wissam Fattouh tells Al-Ahram Weekly.
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