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Financials and Investment News in Egypt

Egypt Surges on Hope of Good News on IMF Loan
10/3/2016 - Egypt's stock market rose sharply in early trade on hopes that an international financing package for the country would be finalized soon after this week's annual meetings of the International Monetar...
Egypt's Foreign Reserves Up To $19.6 Bln in September
Egypt's Foreign Reserves Up To $19.6 Bln in September 10/3/2016 - Egypt’s net international reserves rose in September to $19.591 billion up from $16.564 billion in August, the Central Bank of Egypt (CBE) announced on its website.

Egypt had roughly $36 bill...
Egypt's Central Bank Contradicts Flotation Forecasts, Keeps EGP Unchanged Vs Dollar
Egypt's Central Bank Contradicts Flotation Forecasts, Keeps EGP Unchanged Vs Dollar 10/4/2016 - The Central Bank of Egypt (CBE) kept the local currency’s rate stable at EGP 8.78 against the US dollar regular forex auction, the bank’s official website showed.

The CBE offered local banks ...
Egypt Signs $20 Bln Agreement with Chinese Company for New Capital Development
Egypt Signs $20 Bln Agreement with Chinese Company for New Capital Development 10/4/2016 - Egypt signed a framework agreement with China Fortune Land Development (CFLD) to develop the second and third phase of construction in the new administrative capital east of Cairo with an investment o...
Egypt to Boost Subsidies on Household Goods to Balance Currency Devaluation
Egypt to Boost Subsidies on Household Goods to Balance Currency Devaluation 10/4/2016 - The Egyptian government is planning to increase subsidies on household goods to prevent soaring prices resulting from an imminent currency devaluation, government sources told Al-Masry al-Youm.
IMF To Discuss Egypt Loan at Future Board Meeting
10/5/2016 - The International Monetary Fund will discuss Egypt's $12 billion loan programme at an executive board meeting, not at its annual meeting this week, Egypt's deputy finance minister told Reuters.
Egypt to Import 500,000 Tons Rice, 400,000 Tones Sugar to Boost Reserves
10/5/2016 - Egypt will look to import 500,0000 tonnes of rice and 400,000 tonnes of sugar in order to boost strategic stocks and keep prices down, the prime minister said.

The government buys commodities...
Essam Fayed Inspects 'Golden Autumn' Exhibition in Moscow
10/8/2016 - Minister of Agriculture and Land Reclamation Essam Fayed inspected the 18th edition of Russian Agricultural Exhibition "Golden Autumn," at an invitation by his Russian counterpart.

Fayed prai...
Sahar Nasr: Egypt Adopts Economic Reform Program despite Challenges
Sahar Nasr: Egypt Adopts Economic Reform Program despite Challenges 10/8/2016 -  Despite the unstable global economy and its pressure on most of the economies, Egypt has started implementing an unprecedented comprehensive economic and social reform program, International Cooperat...
Egypt Has Contracted To Import 420,000 Tons of Sugar
10/8/2016 - Egypt has contracted for the import of 420,000 tonnes of sugar in coordination with the military in the "past few days" and will seek to import another 200,000 tonnes in the coming week, the governmen...
Egypt, EBDR Discuss Strategies for Bilateral Cooperation
Egypt, EBDR Discuss Strategies for Bilateral Cooperation 10/9/2016 - International Cooperation Minister Sahar Nasr met with President of the European Bank for Development and Reconstruction (EBDR) Suma Chakrabarti in the presence of Egyptian Ambassador to Washington Ya...
Egypt to Proceed With Accomplishing Sustainable Development Goals
10/9/2016 - Egypt is adamant to realize greater success with regard to accomplishing sustainable development goals, International Cooperation Minister Sahar Nasr said.

Nasr made the remarks during a ses...
World's Biggest Container Ship Crosses Suez Canal
World's Biggest Container Ship Crosses Suez Canal 10/10/2016 -  The Panamanian container ship "Oscar" transited Suez Canal coming from the Netherlands en route to Malaysia.

A shipping official source at the Suez Canal Authority said that Oscar is the b...
Nasr, AFESD Discuss Project to Cultivate 100,000 Feddans
Nasr, AFESD Discuss Project to Cultivate 100,000 Feddans 10/10/2016 - Minister of International Cooperation Sahar Nasr conferred with Arab Fund for Economic and Social Development (AFESD) Chairman Abdulatif Al Hamad on the fringe of her participation in the annual meeti...
Sahar Nasr Takes Part in WB Governors ‘Meeting
10/10/2016 - International Cooperation Minister Sahr Nasr read out the African countries' word at a meeting grouping the World Bank board of African governors and president of the WB Jim Yong Kim.

The mee...
Amr El Garhi Reviews Egypt's Viewpoint for Economic Reform Program
Amr El Garhi   Reviews Egypt's Viewpoint for Economic Reform Program 10/10/2016 - The Egyptian government is keen on implementing an integrated program for economic reforms which can confront financial problems, said Finance Minister Amr el Garhi.

In a statement issued, t...
Essam Fayed: Egypt ‘Largest Rice Producer Worldwide
Essam Fayed: Egypt ‘Largest Rice Producer Worldwide 10/11/2016 - Egypt is considered the largest rice-producing country worldwide, said head of the Agriculture Research Center Abdel Moneim el Bana.

The Agriculture ministry, represented in the center, ma...
Egypt, EU Sign Six Agreements on Smes, Infrastructure Projects
Egypt, EU Sign Six Agreements on Smes, Infrastructure Projects 10/11/2016 - Egyptian Minister of International Cooperation Sahar Nasr and EU Commissioner for Neighborhood Policy and Enlargement Negotiations Johannes Hahn signed 6 cooperative agreements worth €129m, according ...
Dalia Khurshid: 508 Dutch Companies Investing In Egypt
Dalia Khurshid: 508 Dutch Companies Investing In Egypt 10/11/2016 - Number of Dutch companies investing in Egypt reached 508 companies with capitals of $2.715 billion, providing a total of 4,615 job opportunities in sectors of petroleum, chemicals, transport, electron...
Egypt's Trade Deficit Shrinks 13 Pct Year-On-Year in July
10/12/2016 - Egypt’s trade deficit decreased in July by 13.1 percent compared to the same month of last year to reach EGP 30.9 billion, the state’s statistics body CAPMAS said in an emailed statement.

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