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FinMin announces temporary VAT exemption on imported machinery and equipment. PLUS: Microfirms can borrow more, new PwC center,
Ministry didn’t disclose how long the exemption will remain in place
AAIB appoints new managing director
Tamer Waheed served as head of the risk sector at AAIB
Fitch downgrades credit ratings of four local banks
The banks now have a rating of B, down from B+
Egypt needs lenders’ approvals before selling Siemens power plants -Asharq
The 4.8-GW Beni Suef plant is in the govt’s privatization plans
Al Baraka Bank secures USD 30 mn in green funding from IsDB. PLUS: Italy debt swap agreement extension?
Green SME-led projects to receive funding from IsDB: Al Baraka Bank Egypt will receive USD 30 mn in sharia-compliant funding…
Basel El Hini named HDB non-executive chairman -local media
El Hini stepped down as MIH’s chairman and managing director in January
Qalaa revenues more than double in 2022 on record refining margins. PLUS: CIB, ODE report 1Q23 earnings
High oil prices fueled a 162% rise in revenues at the Egyptian Refining Company
Alexbank secures USD 15 mn from EIB for green on-lending
The funding comes as part of the Green Economy Financing Facility
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