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Financials and Investment News in Egypt

Sahar Nasr Calls on Supporting Developing Countries
Sahar Nasr Calls on Supporting Developing Countries 7/21/2016 - Minister of International Cooperation Sahar Nasr called on members of the international community to fulfill their commitments with regard to mobilizing financial resources to support developing count...
Sherif Ismail witnesses Signing Deals for Developmental Projects in Port Said, Sinai
Sherif Ismail witnesses Signing Deals for Developmental Projects in Port Said, Sinai 7/21/2016 - Prime Minister Sherif Ismail witnessed a signing ceremony of deals for developmental projects in Port Said, Sinai, and the slums.

Held at the Investment Ministry, the signing ceremony inclu...
Telecom Egypt in talks with banks over funds for 4G
Telecom Egypt in talks with banks over funds for 4G 7/21/2016 - Telecom Egypt, the country's state-owned landline monopoly, is in talks with banks about a 5 billion Egyptian pound ($563.07 million) loan to acquire a 4G licence, banking sources said.

The s...
Indian TCI Sanmar Increases Investments in Egypt by $280
Indian TCI Sanmar Increases Investments in Egypt by $280 7/21/2016 - The Indian renowned TCI Sanmar is expected to increase its investments in Egypt by $280 million to double its production of Polyvinyl chloride (PVC).

According to Trade and Industry Ministe...
Egypt, Spain Agree on Enhancing Joint Cooperation
Egypt, Spain Agree on Enhancing Joint Cooperation 7/22/2016 - Egypt and Spain have agreed on enhancing joint cooperation to hit 300 million Euros.

International Cooperation Minister Sahar Nasr announced that the two countries agreed on using allocation...
Garhy to Participate in G20 Meetings of Finance Ministers
Garhy to Participate in G20 Meetings of Finance Ministers 7/23/2016 - Minister of Finance Amr el Garhy will participate in the G20 Meetings of Finance Ministers and Central Bank Governors, to be held in the Chinese city of Chengdu.

The meetings come in prep...
Egyptians Second top Arab Investors in Dubai Real Estate Market
7/25/2016 - Egyptians ranked as the second top Arab investors in Dubai’s Real Estate Market with an amount of AED 1.37 billion during the first half of 2016, a statement by Dubai’s Land Department (DLD) announced...
ICT Minister, China's CETC Group Discuss Establishing 2 Centers for ICT Services
7/25/2016 - Minister of Communications and Information Technology Yasser El Kady met with a delegation of China's Electronics Technology Group Corp. (CETC), specialized in cyber-security, solar energy and softwar...
Egypt: 180 Projects at EGP3 bn Approved in June 2016
Egypt: 180 Projects at EGP3 bn Approved in June 2016 7/25/2016 - The Industrial Development Authority (IDA) issued approvals for the establishment of 180 new projects in the industrial zones and new cities at a total cost of EGP 3 billions.

The project...
48 Ships Transit Suez Canal
48 Ships Transit Suez Canal 7/26/2016 - Forty-eight ships transited the Suez Canal with a total cargo of 2.5 million tons.

The south-bound convoy included 20 vessels carrying 1.3 million tons, while the north-bound convoy includ...
Sahar Nasr Signs with OPEC Fund $40 mln Agreement
Sahar Nasr Signs with OPEC Fund $40 mln Agreement 7/26/2016 - International Cooperation Minister Sahar Nasr signed an agreement, worth 40 million dollars, to finance small-and medium-sized enterprises (SMEs) in the Social Fund for Development (SFD).

The...
Tarek Qabil:19% Increase in Industrial Investment
Tarek Qabil:19% Increase in Industrial Investment 7/26/2016 - Industrial indicators are pointing towards a 19% increase in approvals in comparison to the first six months of 2015, Industry and Trade Minister Tareq Qabeel said during his visit to 6th of October C...
Egypt Set to Receive First Installment of US$2.5bn Saudi Loan
Egypt Set to Receive First Installment of US$2.5bn Saudi Loan 7/26/2016 - Dr. Sahar Nasr, Minister of International Cooperation, said that Egypt is set to receive a billion dollar investment from Saudi Arabia in the next few days, in the first installment of a loan agreed o...
IMF Mission in Cairo Next Week for Talks on US$12bn bailout
IMF Mission in Cairo Next Week for Talks on US$12bn bailout 7/27/2016 - The International Monetary Fund confirmed that Egypt has asked it for financial support program and said an IMF staff mission will visit Cairo for about two weeks starting July 30.

"We welcom...
Egypt, China Sign MoU to Build Solar Panel Factory
Egypt, China Sign MoU to Build Solar Panel Factory 7/27/2016 - Egypt and China signed a memorandum of understanding under which the latter would share its technological know-how in manufacturing solar boards with the Arab country.

Putting their signatur...
54 ships transit Suez Canal
54 ships transit Suez Canal 7/27/2016 - Fifty-four ships transited the Suez Canal with a total cargo of 3.5 million tons.

The south-bound convoy included 30 vessels carrying 2.1 million tons, while the north-bound convoy include...
Two oil-prospecting agreements for Upper Egypt signed
Two oil-prospecting agreements for Upper Egypt signed 7/27/2016 - Petroleum Minister Tareq el Molla signed two agreements for oil and gas prospecting in Upper Egypt.

The agreements were signed between Egypt's Ganoub El-Wadi Petroleum Holding Company (GANO...
Egypt Expects to Get at Least $2 bln within 2 months of Agreeing IMF Loan
Egypt Expects to Get at Least $2 bln within 2 months of Agreeing IMF Loan 7/28/2016 - Egypt expects to receive at least $2 billion within two months of agreeing a three-year $12 billion loan programme with the International Monetary Fund, a senior finance ministry official said.
Egypt to receive first payment of IMF loan in three months
Egypt to receive first payment of IMF loan in three months 7/29/2016 - Finance Minister Amr el Garhi said that Egypt is expected to receive three billion dollars, the first batch of an International Monetary Fund (IMF) loan, in the second quarter of this fiscal year.
...
IMF welcomes supporting Egypt in facing economic challenges
IMF welcomes supporting Egypt in facing economic challenges 7/29/2016 - The International Monetary Fund welcomes supporting Egypt in the face of current economic challenges.

During a news conference at the IMF headquarters in Washington, Spokesman William Murra...

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