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Financials and Investment News in Egypt

Egypt Negotiates $4 Bln Loan from China for Its Renewable Energy Strategy
Egypt Negotiates $4 Bln Loan from China for Its Renewable Energy Strategy 9/20/2016 - Egypt is currently negotiating a $4 billion loan from China to finance the country’s renewable energy strategy, an official from the international cooperation ministry said.

“China has shown ...
Egypt: Mobile Phone Bills to Increase Between 5% And 7%
Egypt: Mobile Phone Bills to Increase Between 5% And 7% 9/21/2016 - Mobile phone bill rates are set to increase by between 5 and 7 percent due to the application of Value Added Tax (VAT), in line with a new law on the tax passed recently, according to the Finance Mini...
Sahar Nasr, AFDB ink agreement on health, social insurance
Sahar Nasr, AFDB ink agreement on health, social insurance 9/21/2016 - Minister of International Cooperation Sahar Nasr signed an agreement on with Resident Representative of the African Development Bank (AFDB) in Cairo Leila Mokaddem on a grant for actuarial study to im...
Egypt Reinstates 0.05pct Tolerance of Ergot Fungus in Wheat
Egypt Reinstates 0.05pct Tolerance of Ergot Fungus in Wheat 9/21/2016 - Egypt’s reversed its zero-tolerance decision for wheat imports containing ergot fungus, to reinstating a 0.05 percent tolerance policy, which is a widely applied international standard, Al-Ahram Arabi...
Russian Team to Assess Security Measures at Hurghada Airport
9/21/2016 - A Russian delegation of transport and aviation experts arrived in the Red Sea resort of Hurghada to inspect recently implemented security measures at the city's airport in preparation for resuming dir...
Italy to Fly 11 Direct Trips to Egypt's Sharm El-Sheikh
Italy to Fly 11 Direct Trips to Egypt's Sharm El-Sheikh 9/21/2016 - Italy will operate 11 direct flights to Egypt's Red Sea resort of Sharm El-Sheikh amid efforts by Cairo to revive tourism in the city, which declined over the past year after the crash of a Russian ai...
Egypt Trade Deficit Narrows By $7 Bln Since January
Egypt Trade Deficit Narrows By $7 Bln Since January 9/21/2016 - Egypt's trade deficit has narrowed by $7 billion since January, Trade and Industry Minister Tarek Kabil said, adding that exports could rise by 10 percent - helping close the trade gap even more - if ...
CBE Reports Net Outflow in Egypt's Travel Balance
CBE Reports Net Outflow in Egypt's Travel Balance 9/21/2016 - Egypt's travel payments rose from US$3.3 billion to $4.1 billion in the fiscal year 2015/2016, creating a net outflow in Egypt's travel balance for the first time, the Central Bank of Egypt said.
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Egypt's Three Mobile Operators Reject 4G Licenses
9/22/2016 - Egypt's three existing mobile phone operators have declined to buy its fourth-generation licences, two Egyptian telecoms officials told Reuters.

The companies, Vodafone, Orange and Etisalat, ...
Tarek Qabil: Talks with Russia to Resume Exporting Agricultural Products
Tarek Qabil: Talks with Russia to Resume Exporting Agricultural Products 9/23/2016 - Minister of Trade and Industry Tareq Qabil had telephone calls with a number of Russian officials including Russian Industry and Trade Minister Denis Manturov.

The contacts tackled the latest...
Egyptian, British Foreign Ministers Discuss Resumption of Sharm Flights
9/24/2016 - The security cooperation between Egyptian and the British authorities is moving in the right direction to resume UK flights to the Egyptian resort of Sharm El-Sheikh, the UK foreign secretary told his...
Sahar Nasr Meets WB Representatives
Sahar Nasr Meets WB Representatives 9/24/2016 - International Cooperation Minister Sahar Nasr held three meetings with representatives of the World Bank (WB) to discuss development projects in Egypt.

During her meeting with Asaad Alem, the...
Russian Transport Minister to Discuss Flight Resumption with Egypt's Sisi
Russian Transport Minister to Discuss Flight Resumption with Egypt's Sisi 9/25/2016 - Russian transport minister Maxim Sokolov, who is expected to visit Egypt soon, will discuss with President Abdel-Fattah El-Sisi the resumption of flights between the two countries, including a draft i...
Russia Sees Progress in Aviation Security Talks with Egypt
Russia Sees Progress in Aviation Security Talks with Egypt 9/25/2016 - Russia said talks with Egypt on civil aviation security cooperation have undergone significant progress as Cairo seeks the resumption of air traffic between the two countries.

Egypt's Civil A...
Egyptian Team Visits Russia to Discuss Trade Tension
Egyptian Team Visits Russia to Discuss Trade Tension 9/25/2016 - An Egyptian team is in Russia to discuss a ban placed on Egyptian agricultural exports, Egyptian daily Al-Ahram has reported.

The Egyptian delegation comprises of officials from Egypt's agric...
Egypt Proposes 17 Measures to Restart Agricultural Exports to Russia
9/25/2016 - An Egyptian delegation of seven officials from the ministries of agriculture and trade is to start official negotiations with Russia in Moscow on Sunday over Russia's recent ban on Egypt's agricultura...
Telecom Egypt Considers Acquiring Additional 4G Spectrum
Telecom Egypt Considers Acquiring Additional 4G Spectrum 9/26/2016 - Telecom Egypt, the state fixed-line monopoly, said it was considering acquiring additional spectrum, weeks after it bought a fourth-generation (4G) licence that will allow it to directly offer mobile ...
Tarek Amer Heads to Germany to Seek Support for IMF Loan
Tarek Amer Heads to Germany to Seek Support for IMF Loan 9/26/2016 - The governor of Egypt's Central Bank, Tarek Amer, arrived in Germany for a three-day visit to discuss the country's support for the deal between Egypt and the International Monetary Fund, state news a...
Russia to Lift Import Ban on Egyptian Fruits, Vegetables
Russia to Lift Import Ban on Egyptian Fruits, Vegetables 9/26/2016 - Egypt’s trade and industry ministry said that Russia has agreed to lift a ban on the import of Egyptian fruits and vegetables, as the North African country will take every precaution to guarantee the ...
Tourism Sector Aiming For 1 Million Chinese Tourists within Five Years
Tourism Sector Aiming For 1 Million Chinese Tourists within Five Years 9/26/2016 - Nasser Abdel Aal, the former minister of tourism’s consultant on Asia, has said that Egypt's tourism sector is aiming to achieve a target of 1 million Chinese tourists per year within the next five ye...

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