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Financials and Investment News in Egypt

Egypt to pay $8bn of its debts during current fiscal year
Egypt to pay $8bn of its debts during current fiscal year 7/29/2016 - Egypt will pay USD 8 billion from its debts during the current fiscal year, said Deputy Finance Minister for Financial Policies Ahmed Koujak.

In statements, Koujak added that obtaining a lo...
Sherif Ismail meets with chairman of “Terra Sola” group
Sherif Ismail meets with chairman of “Terra Sola” group 7/29/2016 - Prime Minister Sherif Ismail received President of Terra Sola Swiss group David Heimhofer.

The meeting tackled the executive steps regarding the establishment of a plant for the production ...
Tarek Qabil reviews with Mistubishi team projects in Egypt
Tarek Qabil reviews with Mistubishi team projects in Egypt 7/30/2016 - Trade and Industry Minister Tarek Kabil held talks with a delegation of Mitsubishi Heavy Industries, a key Japanese company, on Mistubishi's future projects in Egypt.

In statements, Kabil s...
Nasr reviews measures to fund Sinai development program
Nasr reviews measures to fund Sinai development program 7/30/2016 - Minister of International Cooperation Sahar Nasr reviewed final measures of the first batch of a Saudi loan to bankroll a Sinai development program.

Egypt will receive 500 million dollars w...
Telecom Egypt board tentatively agrees to buy 4G licence
7/31/2016 - Telecom Egypt (TE), the state-owned landline monopoly, said its board had tentatively approved plans to buy a fourth-generation mobile licence and a company official said it would offer the services w...
Nasr receives World Bank delegation
Nasr receives World Bank delegation 7/31/2016 - Minister of International Cooperation Dr. Sahar Nasr has received a World Bank delegation, currently visiting Cairo for talks on Egypt’s new and ambitious plan for the reclamation of 1.5 million fedda...
Sisi urges taking social aspect into consideration in applying economic reforms
Sisi urges taking social aspect into consideration in applying economic reforms 7/31/2016 - President Abdel Fattah El Sisi chaired a meeting including Prime Minister Sherif Ismail and Finance Minister Amr Garhy.

The meeting reviewed the current tax system in Egypt and the general...
Egypt Denies IMF has Imposed Conditions on Loan Package
7/31/2016 - The International Monetary Fund (IMF) has not imposed any preconditions on Egypt in order to implement a mooted $12 billion loan package, the country's finance ministry said.

The ministry's r...
Egypt's External Debt to Reach $53.4 billion with IMF Loan
Egypt's External Debt to Reach $53.4 billion with IMF Loan 8/1/2016 - Egypt's Finance Minister Amr al-Garhy said in a television interview that Egypt's external debt would reach $53.4 billion if his country receives an International Monetary Fund (IMF) loan.

La...
Sisi Warns Tough Measures to Fix Economy are Looming
Sisi Warns Tough Measures to Fix Economy are Looming 8/1/2016 - President Abdel Fattah al-Sisi warned Egyptians that tough measures would be needed to turn the country's ailing economy around, as the government negotiates a $12 billion loan programme with the Inte...
Egypt:AOI delivers air-conditioned train, metro carriages
8/1/2016 - Transport Minister Galal el-Saeed and Chairman of the Arab Organization for Industrialization (AOI) Abdel Aziz Seif Eddin attended a ceremony marking the OAI delivery of two air-conditioned railway an...
Sisi discusses steps to offer shares of State companies on Stock Exchange
Sisi discusses steps to offer shares of State companies on Stock Exchange 8/1/2016 - President Abdel Fattah El Sisi met with Investment Minister Dalia Khorshed.

The meeting took up steps to offer capital of public sector companies on the Stock Exchange, said presidential ...
40 ships transit Suez Canal
40 ships transit Suez Canal 8/2/2016 - Forty ships transited the Suez Canal with a total cargo of 2.3 million tons.

The south-bound convoy included 22 vessels carrying 1.6 million tons, while the north-bound convoy included 18 shi...
Sherif Ismail receives IMF mission
Sherif Ismail receives IMF mission 8/2/2016 - Prime Minister Sherif Ismail received members of the International Monetary Fund (IMF) mission, currently on a visit to Cairo, with the governor of the Central Bank of Egypt and the finance minister a...
Amr Al Garhy:IMF loan aims to redress budget deficit
Amr Al Garhy:IMF loan aims to redress budget deficit 8/2/2016 - Finance Minister Amr Al Garhy said the IMF did not call for introducing any taxation amendments or laying off two million state civil servants from the state machinery.

Garhy said the IMF ...
Egypt:State-owned oil, banking and electricity firms to be privatized
8/2/2016 - The Egyptian government will target state-owned firms in the banking, petroleum and electricity sectors for the first wave of its privatization program, selecting several companies for initial public ...
Sisi: Suez Canal vital facility of int'l trade movement
Sisi: Suez Canal vital facility of int'l trade movement 8/3/2016 - President Abdel Fattah El Sisi has stressed the importance of upgrading the Suez Canal Authority (SCA), which he called a vital facility of international trade movement.

Sisi, at a meeting...
Sherif Ismail,Siemens chief discuss energy, railway projects
Sherif Ismail,Siemens chief discuss energy, railway projects 8/3/2016 - Prime Minister Sherif Ismail held a meeting with the chief executive of Siemens to discuss energy projects and plans to manufacture rail tractors.

The meeting was attended by the ministers...
Egypt, FDA ink two agreements
Egypt, FDA ink two agreements 8/3/2016 - Minister of International Cooperation Sahar Nasr signed a grant agreement with the director of the French Development Agency (FDA) bureau in Cairo.

The one-million-euro grant will be chann...
Egyptian Gov't to provide funding for 351 dangerous slums' development
Egyptian Gov't to provide funding for 351 dangerous slums' development 8/3/2016 - Prime Minister Sherif Ismail said his government works to provide funding for development projects of dangerous slums home to 850,000 people.

During a visit to the Housing Minister, the pre...

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