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Financials and Investment News in Egypt

Mahleb : Low-Income Housing Project is "biggest" in ME, World
Mahleb : Low-Income Housing Project is 6/23/2016 - Prime Minister Ibrahim Mahlabdescribed the low-income housing project carried out by the government as “the biggest” in the Middle East region and the world and one of the mechanisms to achieve social...
Chinese Water Giant Seeks to Pump Investments in Egypt
6/24/2016 - Investment Minister Dalia Khorshid said that a specialized Chinese water desalination group is looking forward to pumping investments in Egypt.

This came during a meeting held between Khorshi...
Red Sea islands ruling will not affect Egypt's economic ties with Saudi Arabia
6/24/2016 - The court ruling that voided the recently announced Egyptian-Saudi border demarcation agreement – which placed two Red Sea islands in Saudi waters – will not affect the economic ties between the two c...
Dutch Experts in Egypt to Study Establishing 100,000 Greenhouses
Dutch Experts in Egypt to Study Establishing 100,000 Greenhouses 6/25/2016 - International Cooperation Minister Sahar Nasr received Dutch Ambassador in Cairo Gerard Stiggs where they discussed means of boosting future joint cooperation between Egypt and the Netherlands.
Cairo, Moscow Trade Exchange Hits $1.5bn in Four Months
Cairo, Moscow Trade Exchange Hits $1.5bn in Four Months 6/25/2016 - The volume of trade exchange between Egypt and Russia witnessed a 9.8 percent increase during the period from January to April of this year, said Russian trade representative in Egypt Fedor A. Lukashi...
Egypt's supply Ministry Rejects Wheat Fraud Allegations
Egypt's supply Ministry Rejects Wheat Fraud Allegations 6/26/2016 - Egypt's Ministry of Supplies dismissed allegations that its wheat procurement figures were inflated and promised penalties for domestic suppliers that misreport stocks.

The ministry announce...
Mamish Attends Expanded Panama Canal Inauguration
Mamish Attends Expanded Panama Canal Inauguration 6/26/2016 - Chairman of the Suez Canal Authority Mohab Mamish arrived in Panama to take part in the celebration marking Panama Canal expanded waterway inauguration.

Egyptian Ambassador in Panama Hisha...
Dalia Khorshid, Chinese Amb. Discuss Joint Projects
Dalia Khorshid, Chinese Amb. Discuss Joint Projects 6/27/2016 - Investment Minister Dalia Khorshid discussed with Chinese Ambassador to Egypt Song Aiguo projects of high priority and joint investments.

The talks were held as part of two-day joint meetings...
Dalia Khorshid Meets AOI Chairman
Dalia Khorshid Meets AOI Chairman 6/27/2016 - Investment Minister Dalia Khorshid held a meeting with Chairman of the Arab Organization for Industrialization (AOI) Abdulaziz Seif el Din and discussed several issues of mutual concern.

The ...
Egypt has begun talks with the IMF over a $5 bln loan
Egypt has begun talks with the IMF over a $5 bln loan 6/27/2016 - Egypt's central bank has started negotiations with the International Monetary Fund over a $5 billion loan, a Minister from Egypt's economic group of ministers told Reuters.

The negotiations a...
Egypt 2nd in FDI in Africa
Egypt 2nd in FDI in Africa 6/27/2016 - According to the World Investment Report 2016 issued by the United Nations Conference on Trade and Development (UNCTAD), Egypt came second in Africa in attracting Foreign Direct Investments (FDI) duri...
Egypt could Secure $10 bln Loan from IMF
Egypt could Secure $10 bln Loan from IMF 6/27/2016 - Egypt's central bank said it could secure some $10 billion from the International Monetary Fund (IMF) by agreeing a structural reform programme but has yet to make any formal request to do so.
EU: No Change in Aid programs to Egypt in Coming Two Years
6/28/2016 - There will be no change in aid programs of the EU to Egypt in the coming two years, said EU Ambassador in Cairo James Moran.

Moran was commenting on the possible repercussions of Britain's ex...
Sisi Urges more Efforts to Rationalize Imports, Increase Exports
Sisi Urges more Efforts to Rationalize Imports, Increase Exports 6/28/2016 - President Abdel Fattah El Sisi urged more measures to rationalize imports and increase exports.

At a meeting with Prime Minister Sherif Ismail and Trade and Industry Minister Tarek Kabil, Sis...
Egypt to issue $3 bln Eurobond in Sept-Oct, implement VAT by Sept
6/28/2016 - Egypt's finance minister said the country would look to issue a $3 billion Eurobond between September and October, and would implement a long-delayed value-added tax (VAT) by September.

Egypt...
Sameh Shoukry: UK Exit from EU will Economically Affect Arab Region
6/28/2016 - Foreign Minister Sameh Shoukry said the UK exit from the European Union (EU) would economically affect the Arab region.

During a Ramdan Iftar, the minister added that the global stock mark...
Egyptian-Chinese Ministerial Meeting to be Held in Beijing in July
Egyptian-Chinese Ministerial Meeting to be Held in Beijing in July 7/1/2016 - The Egyptian-Chinese ministerial committee meeting will convene in Beijing in July to endorse final list of cooperation projects.

Trade and Industry Minister Tareq Qabil is due in China by th...
Dalia Khorshid, Nasdaq Dubai Probe Promoting Joint Cooperation
Dalia Khorshid, Nasdaq Dubai Probe Promoting Joint Cooperation 7/1/2016 - Investment Minister Dalia Khorshid discussed with Chairman of Nasdaq Dubai Abdul Wahed al Fahim and its Chief Executive Hamed Ahmed work mechanism of the Dubai-based stock market.

During thei...
Egypt Repays Qatar final $1 bln in Outstanding Debt
Egypt Repays Qatar final $1 bln in Outstanding Debt 7/1/2016 - Egypt has repaid $1 billion to Qatar, the last batch in a $3 billion debt owed to the Gulf country, Egypt's central bank governor Tarek Amer announced.

In statements to the state-owned MENA n...
EGX Secured EGP 38.2bn for Funding Companies Since June 30 Revolution
EGX Secured EGP 38.2bn for Funding Companies Since June 30 Revolution 7/1/2016 - The Egyptian Exchange (EGX) has secured 38.2 billion pounds to fund economic projects and companies since the June 30 revolution in 2013, EGX Chairman Mohamed Omran said.

Speaking to MENA on...

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