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Financials and Investment News in Egypt

NBE allocates EGP37bn for financing SMEs
NBE allocates EGP37bn for financing SMEs 8/15/2016 - Chairman of Retail & SMEs Sectors at the National Bank of Egypt (NBE) Hazem Hegazy asserted that the NBE allocated about EGP37 billion for financing Small and Medium Enterprises (SMEs) in the new FY, ...
Tarek Qabil reviews Chinese-Egyptian projects
Tarek Qabil reviews Chinese-Egyptian projects 8/15/2016 - Minister of Trade and Industry Tarek Qabil held an expanded meeting with representatives of the ministries of foreign affairs, international cooperation, transport, and electricity to discuss the stat...
CBE approves electricity, water prices of SCEZ to be collected in foreign currency
CBE approves electricity, water prices of SCEZ to be collected in foreign currency 8/15/2016 - The General Authority for the Suez Canal Economic Zone (SCEZ) said it has received the approval of the Central Bank of Egypt (CBE) to collect the prices of electricity and water in the foreign curren...
Egypt's first tranche of IMF finance worth $4 bln, to be delivered in 2 installments
Egypt's first tranche of IMF finance worth $4 bln, to be delivered in 2 installments 8/15/2016 - The $12 billion loan facility that the International Monetary Fund has preliminarily agreed to provide for Egypt will be divided into three tranches, each worth $4 billion, the fund’s mission chief sa...
Fayed inspects Madrid greenhouses
Fayed inspects Madrid greenhouses 8/16/2016 - Egyptian Agriculture Minister Essam Fayed, currently visiting Spain, inspected greenhouses affiliated to Tecnova Research Center where experiments to fight insects and pests are being conducted.
Tarek Qabil: ESF approves new rules to support exports
Tarek Qabil: ESF approves new rules to support exports 8/16/2016 - The board of the Export Support Fund (ESF) agreed on the new rules of an export support program, that will be enforced as of 1 July 2016, Trade and Industry Minister Tareq Qabil said.

Durin...
Egypt's telecom regulator to send out final 4G licence terms
8/17/2016 - Egypt's telecoms industry regulator has approved the final terms for 4G mobile broadband network licences and will send the forms out to licensee companies on Sunday, a senior official at Egypt's Tele...
Egypt seeking $5 bn aid from Arab countries, international institutions
Egypt seeking $5 bn aid from Arab countries, international institutions 8/17/2016 - The Egyptian government has opened channels of communication with a number of Arab countries and international institutions to provide up to US$ 5 billion in financial aid over three years, in additio...
500 Chinese Businessmen to Visit Egypt
500 Chinese Businessmen to Visit Egypt 8/17/2016 - A total of 500 Chinese businessmen are to visit Egypt by the end of August to discuss potential investment opportunities in the Suez Canal region, Ahram Arabic website reported.

The businessm...
Egypt's finance ministry names 4 banks to issue $3 bln eurobonds
Egypt's finance ministry names 4 banks to issue $3 bln eurobonds 8/18/2016 - Four international investment banks were selected by Egypt to issue 3 billion dollar-denominated eurobonds in the global bond market, the finance ministry announced.

In a statement on its web...
Egypt: Metro tickets will rise to at least LE1.5
Egypt: Metro tickets will rise to at least LE1.5 8/18/2016 - Egypt will increase the price of metro tickets from LE1 to a minimum of LE1.5, according to cabinet spokesperson Hossam Qawish, although he said no timetable has been set for the price rise.

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Egypt to receive $2 bln deposit from Saudi Arabia
Egypt to receive $2 bln deposit from Saudi Arabia 8/18/2016 - Egypt signed a deal earlier this year for a $2 billion central bank deposit from Saudi Arabia, International Cooperation Minister Sahar Nasr said.

Egypt inked a raft of agreements with Saudi ...
Yasser el kady., Irish amb. Discuss Prospects of Cooperation
8/18/2016 - Minister of communications and Information Technology Yasser el Kady discussed here with Irish Ambassador to Egypt Damien Cole means of boosting bilateral cooperation in the communications and informa...
EGP3.252 bln Allocated for North Sinai in New fiscal year
8/18/2016 - A total sum of 3.252 billion EGP has been allocated for North Sinai in the 2016/17 fiscal year, Governor Al-Sayed Abdel-Fattah Harhour said.

As part of the allocation, 2.2 billion from the...
Egypt, Kenya sign protocol on establishing joint farms
Egypt, Kenya sign protocol on establishing joint farms 8/19/2016 - Egyptian Water Resources and Irrigation Minister Mohamed Abdel Aati said that a cooperation protocol was signed with Kenya on digging a number of water wells and establishing joint farms.

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Tarek Qabil: 144 industrial projects obtained approvals in July
Tarek Qabil: 144 industrial projects obtained approvals in July 8/20/2016 - As many as 144 industrial projects obtained the final approvals to set up new projects inside and outside industrial zones at total investments reaching 1.8 billion pounds in July 2016 against 91 proj...
Egypt, China sign agreement to establish governmental district
Egypt, China sign agreement to establish governmental district 8/20/2016 -  Housing Minister Moustafa Madbouli and CEO of the New Administrative Capital Company for Real Estate Development Ayman Ismail signed a letter of intent with the China State Construction Engineering C...
Sherif Ismail follows up progress achieved in 1.5mn-feddan project
Sherif Ismail follows up progress achieved in 1.5mn-feddan project 8/20/2016 - Prime Minister Sherif Ismail held a meeting with officials of the Egyptian Company for Agricultural and Rural Development to follow up progress realized so far regarding the reclamation of the 1.5 mil...
Egypt sees Eurobond yield at 5.5-6 pct for Sept/Oct issuance
Egypt sees Eurobond yield at 5.5-6 pct for Sept/Oct issuance 8/21/2016 - Egypt expects its eurobond issuance at the end of September or early October to have a yield between 5.5 percent and 6 percent, Deputy Finance Minister for fiscal policies Ahmed Kojak told Reuters.
Egypt: 112,000 Feddans to be Put out to Tender Next Month
Egypt: 112,000 Feddans to be Put out to Tender Next Month 8/21/2016 - About 112,000 feddans in Farfra, Moghra and Toshka will be put out to tender next month within the framework of the 1.5 million feddan project, said Minister of Agriculture Essam Fayed.

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