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Financials and Investment News in Egypt

Egypt, Belarus Discuss Joint Cooperation in water Resources Management
Egypt, Belarus Discuss Joint Cooperation in water Resources Management 7/2/2016 - Irrigation and Water Resources Minister Mohamed Abdel Ati received Belarusian Ambassador in Cairo Sergei Rachkov where they discussed joint cooperation in the field of water resources management.
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Egypt in Talks with UAE Over US$500 mln Grant
Egypt in Talks with UAE Over US$500 mln Grant 7/3/2016 - The government is negotiating with the United Arab Emirates a US$500 million non-refundable grant to finance several developmental projects, including the development of the Suez Canal.

Inter...
Sisi Approves Establishing Higher Investment Council
Sisi Approves Establishing Higher Investment Council 7/3/2016 - President Abdel Fattah El Sisi approved a proposal to establish a higher council for investment to supervise the State's business strategies and take necessary measures to promote investments.

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500 Tourists Visit Sites in Luxor
500 Tourists Visit Sites in Luxor 7/3/2016 - As many as 500 tourists from different nationalities visited tourist sites in Luxor, according to general director of antiquities in Luxor Mostafa Waziri.

In statements, Waziri said that t...
Egypt Due for Another Devaluation in 2016/17
7/3/2016 - As Egypt's foreign currency shortage intensifies and the gap between official and unofficial currency rates widens, economists say another devaluation is inevitable this fiscal year.

Foreign ...
Egypt's Foreign Reserves edge up to $17.546 bln at End of June
7/4/2016 - Egypt's net foreign reserves rose slightly to $17.546 billion at the end of June, the central bank said. Reserves stood at $17.52 billion at the end of May.

Egypt had roughly $36 billion in r...
Boards of Egypt's Federation of Tourism Chamber, affiliated associations dissolved
7/4/2016 - Tourism minister Yehia Rashed dissolved the Federation of Tourism Chambers' board and the boards of all five affiliated tourism chambers, according to ministry statement.

The boards of the Eg...
Sisi: Efforts to Promote Tourism Sector Should Continue
Sisi: Efforts to Promote Tourism Sector Should Continue 7/4/2016 - President Abdel Fattah El Sisi underlined that efforts to promote the tourism sector in Egypt should continue and support should be offered to workers in the sector in light of the challenges facing t...
Egypt Takes Part in Preparations for G20 Summit
Egypt Takes Part in Preparations for G20 Summit 7/4/2016 - Egypt has joined the G20's efforts preparing for the upcoming summit of the group to be hosted by Hangu, China, early in September upon an invitation from China which currently chairs the group.
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Sisi Stresses Need to Continue Enhancing Power Transmission Networks
7/4/2016 - President Abdel Fattah El Sisi underlined the importance of increasing efforts to enhance power transmission networks to improve services provided to citizens.

The remark was made at his meet...
After Six months, Egypt Finally Settles Wheat Fungus Row
7/5/2016 - Egypt's agricultural quarantine authority settled a months-long dispute on Monday over wheat import specifications that have hampered the country's massive state purchasing programme ahead of an antic...
Egypt: Cabinet approves decision to achieve fish self-sufficiency
Egypt: Cabinet approves decision to achieve fish self-sufficiency 7/5/2016 - The Cabinet approved a decision aimed at achieving self-sufficiency in fish and exporting the surplus.

During a meeting under Prime Minister Sherif Ismail, the Cabinet agreed to re-allocate a...
Egypt: Cabinet approves anti-double taxation deal with Bahrain
Egypt: Cabinet approves anti-double taxation deal with Bahrain 7/5/2016 - The Cabinet approved an agreement on fighting double taxation and tax evasion signed between Egypt and Bahrain in April 2016.

The agreement aims to prevent double taxation between the two cou...
Egypt: FDIs Hit $5.8 Billion in 9 Months
7/9/2016 - The net foreign direct investments have risen by 13.7 percent in the period between July and March of the fiscal year 2015/2016, the investment ministry said.

In a report, the ministry said ...
Largest Container Ship Transits Suez Canal
Largest Container Ship Transits Suez Canal 7/9/2016 - Head of the Suez Canal Authority Mohab Mamish said that Suez Canal is the largest and greatest canal in the world.

In a press release, Mamish said that the canal received the largest containe...
Egypt Car Imports Increase 35% in First 10 Months of 2015/16
7/9/2016 - Egypt's car imports increased by 35 percent in the first 10 months of fiscal year 2015/2016 according to the Egyptian customs authority, Ahram Arabic news website reported.

The value of the o...
Egypt Non-Oil Business Activity Slows
7/10/2016 - Business activity in Egypt shrank for the ninth straight month in June on the back of further declines in output, new orders, and employment, a survey showed.

The Emirates NBD Egypt Purchasin...
Sisi Urges Maintaining Measures to Reduce Public Debt, Increase Foreign Reserve
Sisi Urges Maintaining Measures to Reduce Public Debt, Increase Foreign Reserve 7/10/2016 - President Abdel Fattah El Sisi underlined the importance of taking all necessary measures to continue reducing public debt and increasing foreign reserve.

The remark was made at a meeting ...
Egypt Participates for 1st time in G20 Trade Ministers Meeting in Shanghai
Egypt Participates for 1st time in G20 Trade Ministers Meeting in Shanghai 7/10/2016 - Egypt participates for the first time in the G20 trade ministers meeting, which kicked off early in Shanghai in China.

Chinese Commerce Minister Gao Hucheng inaugurated the two-day meeting...
Sherif Ismail in Meeting with the Governor of North Sinai
Sherif Ismail in Meeting with the Governor of North Sinai 7/10/2016 - Engineer Sherif Ismail, President of the Council of Ministers, met today evening, major general Abdul Fattah Harhour the governor of North Sinai with the presence of General Mohamed Shawqi Rashwan, he...

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