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Financials and Investment News in Egypt

48 Ships Transit Suez Canal
48 Ships Transit Suez Canal 8/21/2016 - Forty-eight ships transited the Suez Canal, with a total cargo of about three million tons.

The south-bound convoy included 18 vessels carrying 1.2 tons, while the north-bound convoy inclu...
Egypt stable, has strong army, firm judicial system
Egypt stable, has strong army, firm judicial system 8/22/2016 - Prime Minister Sherif Ismail asserted that Egypt is stable and has a strong army, a firm judicial system and an effective parliament.

"We should maintain gains that were achieved and build ...
Egyptian bourse gains EGP 1.6bn
Egyptian bourse gains EGP 1.6bn 8/22/2016 - The Egyptian Exchange (EGX) indices went up at the close of trading.

The market capital achieved gains worth EGP 1.6 billion to reach EGP 418.2 billion, after transactions surpassed EG...
Egypt:Electricity, investment ministers probe feed-in tariff for investors in renewable energy
8/22/2016 - Electricity and Renewable Energy Minister Mohamed Shaker met with Investment Minister Dalia Khorshed.

The two ministers discussed the problems facing investors qualified for the first...
Russia, Egypt agree on roadmap for return of tourism
Russia, Egypt agree on roadmap for return of tourism 8/22/2016 - Egypt has agreed with Russia on a roadmap for the return of Russian flights and tourist services to Egypt, after several delegations carried out inspections on resorts, hotels and the Red Sea resort a...
Egypt Plans To End Fuel Subsidies Within Three Years
8/23/2016 - Egypt plans to end fuel subsidies within three years and is aiming to increase fuel prices to 65 percent of their actual cost during the 2016/17 fiscal year, two government sources told Reuters.
Tarek Qabil probes amendments to law of importers registry
Tarek Qabil probes amendments to law of importers registry 8/23/2016 - Minister of Trade and Industry Tareq Qabil has said the amendments to the law of importers' registry represent an important step by the ministry to organize the imports of products which witnessed ran...
UAE offers Egypt six-year deposit of $1billion with CBE
UAE offers Egypt six-year deposit of $1billion with CBE 8/23/2016 - The UAE has offered a financial deposit worth US$1 billion to Egypt with the Central Bank of Egypt (CBE) for a period of six years, the state news agency WAM reported.

The deal was signed b...
Turkish Airlines Resuming Flights To Sharm Al-Sheikh
8/24/2016 - Turkish Airlines will resume flights next month to Sharm al-Sheikh, nearly a year after they were suspended following the bombing of a Russian jet which took off from the Egyptian resort, the Turkish ...
Egypt's Orascom Construction Q2 net falls to $26.4 mln
8/24/2016 - Egypt's Orascom Construction reported a 25 percent fall in second quarter net income to $26.4 million.

The engineering and building business, which is dual listed in Cairo and Dubai, reported...
Egypt sold three-year treasury bonds worth 31 bln Egyptian pounds
Egypt sold three-year treasury bonds worth 31 bln Egyptian pounds 8/24/2016 - Egypt exceptionally sold three-year treasury bonds worth 31 billion Egyptian pounds ($3.49 billion) with a fixed annual yield of 16 percent, the stock exchange said in a statement.

The bonds ...
Sherif Ismail Reviews Incentives For Energy Investment
Sherif Ismail Reviews Incentives For Energy Investment 8/24/2016 - Prime Minister Sherif Ismail met ministers of electricity and investment to discuss incentives for investment in the field of new and renewable energy.

Electricity Minister Mohamed Shaker p...
Sameh Shoukry Meets Delegation Of US Business Council
Sameh Shoukry Meets Delegation Of US Business Council 8/25/2016 - Foreign Minister Sameh Shoukry held a meeting with a delegation of the Business Council for American Security,visiting Egypt.

The US delegation expressed keenness on boosting relations bet...
China Announces Sisi Participation In G20 Summit
China Announces Sisi Participation In G20 Summit 8/25/2016 - China has officially announced Egyptian President Abdel Fattah el Sisi's participation at the G20 Leaders' Summit in the eastern city of Hangzhou on September 4-5.

Chinese Foreign Ministry Sp...
Egypt Extends Euros 50 Mln Financial Cooperation Pact With Austria
Egypt Extends Euros 50 Mln Financial Cooperation Pact With Austria 8/25/2016 - Egypt’s International Cooperation Minister Sahar Nasr met Austrian Ambassador in Cairo Georg Stillfried.

During the meeting, an agreement to extend the Egyptian-Austrian financial cooperatio...
Egypt: Stable Tax And Economic Climate Important To Attract Investors
8/27/2016 - Deputy Finance Minister for Tax Policies Amr al-Mounir said that stable taxation and economic climate are among the most important reasons to attract investors.

In statements, Mounir said tha...
Essam Fayed reinstates zero ergot policy in wheat
Essam Fayed reinstates zero ergot policy in wheat 8/28/2016 - Egypt will no longer permit wheat shipments with even trace levels of ergot, and will apply the decision retroactively, the agriculture minister said.

The decision reverses an earlier decree ...
48 ships transit Suez Canal
48 ships transit Suez Canal 8/28/2016 - Forty-eight ships transited the Suez Canal , with a total cargo of about 2.8 million tons.

The south-bound convoy included 28 vessels carrying 1.6 million tons, while the north-bound convo...
GAFI CEO: Mitsubishi interested in iron, steel industries in Egypt
8/28/2016 - Chief Executive Office (CEO) of the Egyptian General Authority For Investment and Free Zones (GAFI) Mohamed Khodair said Mitsubishi Corporation has shown interest in a number of industries in Egypt, e...
Egypt, Jordan approve agreement on easing passenger movements
8/28/2016 - Transport Minister Galal Said and his Jordanian counterpart Yahya Kisbi approved the final results of a joint meeting that aimed to enhance cooperation in the fields of easing the movement of passenge...

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