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Financials and Investment News in Egypt

Sherif Ismail Stresses Importance of Industrial Sector, Especially Iron, Steel
Sherif Ismail Stresses Importance of Industrial Sector, Especially Iron, Steel 5/16/2016 - Prime Minister Sherif Ismail stressed the government's attention to the industrial sector, especially the iron and steel industry.

The Prime Minister made the remarks at a meeting with manufa...
National Bank of Egypt Sells $169 mln Worth of Special Certificates
National Bank of Egypt Sells $169 mln Worth of Special Certificates 5/16/2016 - National Bank of Egypt, the country's largest state bank, sold 1.5 billion Egyptian pounds (US$169 million) worth of special certificates that were launched in March to attract foreign currency into t...
Egypt: Cabinet Discusses Number of Economic, Social, Political Files
Egypt: Cabinet Discusses Number of Economic, Social, Political Files 5/17/2016 - The Cabinet convened its weekly meeting under Prime Minister Sherif Ismail to discuss a number of political, economic, social and security files along with special reports on mega national projects.
Sisi Witnesses New Assiut Power Station
Sisi Witnesses New Assiut Power Station 5/17/2016 - President Abdel Fattah El Sisi witnessed the inauguration of the 1,000 megawatt power station in the Upper governorate of Assiut.

Prime Minister Sherif Ismail and Defense Minister Sedqy Sobhy...
Egypt's President Sisi Inaugurates $2.7 bln worth of Electricity Projects
Egypt's President Sisi Inaugurates $2.7 bln worth of Electricity Projects 5/17/2016 - Egypt's President Abdel-Fattah El-Sisi inaugurated eight power stations, adding more than 3,600 megawatts to the national electricity grid at a total cost of $2.7 billion.

The projects, sever...
Egypt's Central Bank Offers $120 mln to Cover Pharmaceutical Imports
Egypt's Central Bank Offers $120 mln to Cover Pharmaceutical Imports 5/17/2016 - Egypt's central bank held the pound steady at a regular dollar sale but said the dollars would be directed to imports of pharmaceutical products, manufacturing components, vaccines and related chemica...
Egypt's Cabinet Approves Value Added Tax Bill
Egypt's Cabinet Approves Value Added Tax Bill 5/17/2016 - Egypt's cabinet approved a long-awaited value added tax (VAT) bill, which will be referred to the State Council for review before being sent to parliament for approval, the cabinet said in a statement...
Sahar Nasr in Jakarta for IDB’s Meetings
Sahar Nasr in Jakarta for IDB’s Meetings 5/18/2016 - Egypt's International Cooperation Minister Sahar Nasr arrived in the Indonesian capital, Jakarta.

Nasr, who also serves as Egypt's Governor to the Islamic Development Bank (IDB), will lead th...
Egypt :Meeting about Project 9 N. in Alexandria
5/18/2016 - PM Sherif Ismail held a meeting to follow-up on the special procedures to get ready to start the experimental sewage treatment (9n) in Alexandria, in the presence of the ministers of housing, environm...
Sherif Ismail has Meeting with the Governor of Luxor, Qena and Aswan
5/18/2016 - Engineer Sherif Ismail, chairman of the council of ministers decided to start the implementation of the draft duplication of Qena Sohag Western Desert along 140 km, the cost is estimated at 350 millio...
Sisi Probes with Siemens Chief Cooperation in Energy, Railways Domains
Sisi Probes with Siemens Chief Cooperation in Energy, Railways Domains 5/19/2016 - President Abdel Fattah El Sisi received, Joe Kaeser, the President and Chief Executive Officer of Siemens AG, in the presence of Minister of Electricity Mohamed Shaker and Minister of Transport Galal ...
Sherif Ismail Receives EBRD, World Bank Representatives
5/19/2016 - Prime Minister Sherif Ismail held a meeting with representatives of European Bank for Reconstruction and Development (EBRD) and the World Bank's International Finance Corporation.

Present at ...
3rd World Cruise Ship Transits Suez Canal
3rd World Cruise Ship Transits Suez Canal 5/20/2016 - The third ship in the Quantum Class "Ovation of the Seas" transited the Suez Canal coming from the Mediterranean Sea en route to the Red Sea.

A well-placed source at the Suez Canal Authority ...
Egypt receives Siemens' two gas turbines for Beni Suef power plant
5/20/2016 - The German company Siemens organized a celebration for delivery of first four gas turbines giant model "H-Class" to Beni Suef electricity station.

Two of the 400 megawatt (MW) turbines alongs...
Sisi Approves Loan Agreement with Russia to Finance Egypt’s Nuclear Plant
5/20/2016 - Egypt’s President Abdel-Fattah El-sisi has approved a loan to be provided by the Russian government to finance the construction of the country’s first nuclear project, state news agency MENA reported ...
Nasr: Agreement Signed to Establish Islamic micro-finance Institution in Egypt
5/21/2016 - International Cooperation Minister Sahar Nasr and Chairman of the Islamic Development Bank Group Ahmed Mohamed Ali signed a deal to establish an Islamic micro-finance institution in Egypt at a capital...
Sisi Meets with Industry, Trade Minister
5/22/2016 - President Abdel Fattah El Sisi met with Trade and Industry Minister Tarek Kabil.

At the meeting, Kabil reviewed the outcome of his recent visit to Beirut, during which he met with the Lebanes...
Sisi, Chairman of General Electric Discuss Cooperation
5/22/2016 - President Abdel Fattah El Sisi discussed with General Electric (GE) Chairman and CEO Jeffrey Immelt means to boost cooperation in the sectors of traditional and renewable energy, transport, railways, ...
Egypt's Gas Projects to Increase Production to 5.5-6 bln cfd
5/22/2016 - Egypt will increase its natural gas production to between 5.5 and 6 billion cubic feet per day (cfd) by the end of 2019, Oil Minister Tarek El Molla said on Sunday, up from the current 3.9 billion cfd...
Egypt Must Work Harder to Revive Tourism After Setbacks
5/22/2016 - Egypt will have to work 10 times harder to revive its tourism industry, Tourism Minister Yehia Rashed said on Sunday, after a series of setbacks including the crash of an EgyptAir flight into the Medi...

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