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Financials and Investment News in Egypt

Sisi, Indian PM attend signing ceremony of MOU in maritime navigation
Sisi, Indian PM attend signing ceremony of MOU in maritime navigation 9/2/2016 - President Abdel Fattah El Sisi, visiting India, and Indian Prime Minister Narendra Modi attended the signing ceremony of a memorandum of understanding between both countries on cooperation in the fie...
Egypt, Spain discuss agricultural cooperation
Egypt, Spain discuss agricultural cooperation 9/2/2016 - Agriculture Minister Essam Fayed has discussed with Spanish Ambassador to Egypt Arturo Avello Díez del Corral means of bolstering joint agricultural cooperation.

The meeting took up ways ...
Egypt reviews its economic reform plan in int’l conference in S. Africa
Egypt reviews its economic reform plan in int’l conference in S. Africa 9/2/2016 - Deputy Minister of Finance Ahmed Kojak has represented Egypt as a guest of honor in an international conference in South Africa giving a brief about Egypt’s program of the economic reform.

...
Tarek Qabil: 50,000 tons of sugar to meet market needs
Tarek Qabil: 50,000 tons of sugar to meet market needs 9/2/2016 - Minister of Trade and Industry Tarek Kabil decided to allocate 50,000 tons of sugar to meet needs of factories producing foodstuffs.

The move is meant to curb price hikes across the natio...
Egypt's Sisi arrives in China's Hangzhou for G20 Summit
Egypt's Sisi arrives in China's Hangzhou for G20 Summit 9/3/2016 - Egypt's President Abdel-Fattah El-Sisi arrived in China's Hangzhou for the G20 Summit where Egypt is a guest of honour, Ahram Arabic website reported.

El-Sisi will participate as a guest in t...
Lagarde to Sisi at G20:IMF supports Egypt's economic reform programme
9/3/2016 - The International Monetary Fund supports Egypt’s efforts in achieving economic reform, the IMF’s managing director Christian Lagarde told Egypt’s President Abdel-Fattah El-Sisi during a meeting on the...
Qabil: Major Indian company pumps EGP 300m investments in chemical industry
9/3/2016 - Minister of Trade and Industry Tarek Qabil resumed his meetings with major Indian companies having investments in Egypt on the fringe of President Abdel Fattah El Sisi's visit to New Delhi.

T...
Egyptian businessman invests USD 50 million in India
9/3/2016 - An Egyptian businessman has invested about 50 million dollars in India. Mohamed el-Sayed, a member of the Egyptian-Indian Businessmen Forum and owner of KAPCI Coatings, said that the company’s new fa...
Cairo eyes more Indian investments in automotive, textile sectors
9/3/2016 - Minister of Trade and Industry Tareq Qabil said that Egypt plans to lure more Indian capital into the automotive and textile sectors.

Speaking to reporters in New Delhi, the minister said Egy...
Egypt's Eastern Company board approves $84 mln capital hike
9/4/2016 - The board of Egypt's top cigarette maker Eastern Company approved a capital hike of 750 million Egyptian pounds ($84 million) through the distribution of one free share per existing original share.
Sherif Ismail reviews improving steel, textile industries at ministerial meeting
Sherif Ismail reviews improving steel, textile industries at ministerial meeting 9/4/2016 - Prime Minister Sherif Ismail presided over a ministerial meeting reviewing current plans to develop public sector steel and textile industries in Egypt.

During the meeting, Ismail asserted...
Egypt Foreign Reserves Rise to $16.564 bln End-August
Egypt Foreign Reserves Rise to $16.564 bln End-August 9/4/2016 - Egypt's net foreign reserves rose to $16.564 billion at the end of August, the central bank said. Reserves stood at $15.536 billion at the end of July.

Egypt had roughly $36 billion in reserv...
Egyptian Airlines Saw 40.4% Decrease in Passenger Traffic In 2015
Egyptian Airlines Saw 40.4% Decrease in Passenger Traffic In 2015 9/5/2016 - The number of passengers travelling with Egyptian airlines – on both domestic and international flights – decreased by 40.4 percent to 10.1 million passengers in 2015 compared to 17 million passengers...
Suez Canal Sees 2% Decline in July Revenues
Suez Canal Sees 2% Decline in July Revenues 9/5/2016 - Egypt's Suez Canal Authority announced total revenues of $429 million in July from the canal, a decrease of almost two percent from the $437.7 million recorded in the same month last year, state news ...
Egypt’s Approval of Value-Added Tax Is Credit Positive
9/5/2016 - Moody's Investors Service said that the Egyptian parliament's recent approval of the value-added tax (VAT) is a credit positive despite it being approved at 13 percent instead of the government's reco...
Sisi: New Suez Canal contributed to propelling Africa trade with world markets
Sisi: New Suez Canal contributed to propelling Africa trade with world markets 9/5/2016 - President Abdel Fattah El Sisi asserted that the Suez Canal development projects would enhance the African capabilities for manufacturing and exportation, noting that Egypt was working on resuming the...
Egypt non-oil business activity slows for 11th month running in August
Egypt non-oil business activity slows for 11th month running in August 9/5/2016 - Business activity in Egypt shrank for the 11th consecutive month in August as data for output, new orders, and employment deteriorated, with purchase prices rising sharply amid a hard currency shortag...
Egypt, German sign MoU to Boost Economic Cooperation
Egypt, German sign MoU to Boost Economic Cooperation 9/7/2016 - Head of the General Federation of Egyptian Chambers of Commerce Ahmed el Wakil signed a memorandum of understanding with President of the Association of German Chambers of Commerce Eric Schweitzer to ...
Political powers praise Egypt's participation in G20 summit
Political powers praise Egypt's participation in G20 summit 9/7/2016 - Egyptian political powers have hailed Egypt's effective participation in the G20 summit that was held in the Chinese city of Hangzhou on September 4-5.

The Conference Party, Conservative Pa...
Sahar Nasr meets US Officials to Discuss Economic Aid to Egypt
Sahar Nasr meets US Officials to Discuss Economic Aid to Egypt 9/7/2016 - International Cooperation Minister Sahar Nasr met Richard A. Albright, the US Deputy Assistant Secretary for Near Eastern Affairs, and Maria Longi, USAID's deputy assistant administrator for the Middl...

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