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Financials and Investment News in Egypt

Suez Canal Authority Seeks Advance-Payment Deal With Global Maritime
Suez Canal Authority Seeks Advance-Payment Deal With Global Maritime 10/12/2016 - The Suez Canal Authority is exploring a possible deal with shipping company Global Maritime that would see the company paying in advance for ships traveling through the Suez Canal, according to inform...
Orange Egypt Seeks 4G Licence under New Terms
10/13/2016 - Orange Egypt has submitted a request for a licence to operate fourth-generation mobile phone services in the country, the telecom regulator said, the latest twist in a standoff between operators and t...
Egyptian, Cypriot Agriculture Ministers Discuss Cooperation in Fish Farming
Egyptian, Cypriot Agriculture Ministers Discuss Cooperation in Fish Farming 10/13/2016 - Agriculture Minister Essam Fayed had a meeting with his Cypriot counterpart Nicos Kouyialis on means of promoting bilateral cooperation in fish farming.

The meeting was also attended by Ch...
CBE Seeks to Buy Gold from Treasury to Bolster Foreign Reserves
CBE Seeks to Buy Gold from Treasury to Bolster Foreign Reserves 10/13/2016 - An official source has confirmed that the Central Bank of Egypt (CBE) has called upon the Ministry of Finance to sell it a portion of the Public Treasury’s stock of gold to bolster Egypt’s foreign res...
Egypt Receives $2 Billion Saudi Deposit in IMF Deal Financing
Egypt Receives $2 Billion Saudi Deposit in IMF Deal Financing 10/13/2016 - Egypt has received a $2 billion deposit from Saudi Arabia, an Egyptian Central Bank official said, moving closer to securing several billions of dollars needed to seal a prospective $12 billion loan.<...
600 Companies Looking To Invest in Egypt
10/15/2016 - Egypt's Foreign Minister Sameh Shoukry met with Austrian Foreign Minister Sebastian Kurz to discuss strengthening economic cooperation and bilateral trade in Vienna.

According to a statement ...
Egypt's Supply Minister Sets Sugar Price amid Shortage
10/15/2016 - Egypt's supply ministry said that it will set the commercial price of subsidised sugar at EGP 6 per kilogramme (kg) to be available at the ministry's sales outlets in a move that aims to regulate the ...
Egypt, Japan Will Sign Deals on Grand Egyptian Museum, Power Plants
Egypt, Japan Will Sign Deals on Grand Egyptian Museum, Power Plants 10/15/2016 - Egypt and Japan will sign soon two deals to fund the construction of the Grand Egyptian Museum and rehabilitate power plants in Cairo, International Cooperation Minister Sahar Nasr said.

Nasr...
Sherif Ismail: Government to Finalize Investment Law Amendments Soon
Sherif Ismail: Government to Finalize Investment Law Amendments Soon 10/15/2016 - Prime Minister Sherif Ismail has said in press statements that the government will finalize the investment law amendments soon.

Intensive meetings will be held to review the amendments whic...
Egypt's Sale Of 4G Licences Generates $1.1 Bln and EGP 10 Bln
10/16/2016 - The sale of the 4G licences to Egypt's mobile operators has generated around $1.1 billion in addition to EGP 10 billion ($1.1 billion) for the state’s public treasury, the Minister of Communications a...
Sherif Ismail: New Investment Bill atop of Government’s Legislative Agenda
Sherif Ismail: New Investment Bill atop of Government’s Legislative Agenda 10/16/2016 - Prime Minister Sherif Ismail asserted that the new investment draft law comes on top of the government’s legislative agenda. The bill will be reviewed in the Cabinet’s next meeting, he further said.
Sisi Discusses With Baz Making Use of Groundwater Storage
Sisi Discusses With Baz Making Use of Groundwater Storage 10/16/2016 - President Abdel Fattah El Sisi met with Egyptian scientist Farouk el-Baz who reviewed the latest geological survey photos of some Egyptian areas to make use of their groundwater storage.

T...
Vodafone Egypt and Etisalat Request Egypt 4G Licenses
Vodafone Egypt and Etisalat Request Egypt 4G Licenses 10/16/2016 - Vodafone Egypt and Etisalat have requested fourth-generation mobile phone service licenses in Egypt, an official at the telecom regulator said.

Egypt is selling four 4G licenses as part of a ...
Vodafone Egypt to Pay Half of 4G Licence in Dollars
10/17/2016 - Vodafone Egypt will pay half of the fee for its 4G mobile license in dollars, a company official told Reuters, satisfying a condition that initially held up final agreements for the spectrum sale.
...
Egypt’s Foreign Reserves to reach $20.6 Bn by the End of November
Egypt’s Foreign Reserves to reach $20.6 Bn by the End of November 10/17/2016 - The Central Bank of Egypt’s (CEB) foreign reserve will reach $20.6 billion by the end of November 2016 after the three mobile service companies (Etisalat, Vodafone, and Orange) will pay $1.1 billion, ...
Egypt: Government borrows 11 bn EGP in T-bonds
Egypt: Government borrows 11 bn EGP in T-bonds 10/17/2016 - The Egyptian Ministry of Finance will put forward, via the Central Bank of Egypt (CBE), a total of 2 billion EGP in treasury bonds (T-bonds), according to the CBE data.

The auction is divided...
Egypt, Togo Probe Maritime Transport Cooperation
Egypt, Togo Probe Maritime Transport Cooperation 10/17/2016 - Transport Minister Galal Saeed met with Togolese Infrastructure and Transport Minister Ninsao Gnofam on the sidelines of his visit of the country on October 14 and 15.

Saeed was in Togo lead...
Sherif Ismail Presides Over Meeting on Importing Grain
Sherif Ismail Presides Over Meeting on Importing Grain 10/17/2016 - Prime Minister Sherif Ismail chaired a meeting on the prerequisites for imported grain from other countries.

Attending the meeting were the ministers of agriculture, housing and supply, Cabi...
Essam Fayed: State Interested in Confronting Impact of Climate Change
Essam Fayed: State Interested in Confronting Impact of Climate Change 10/17/2016 - Minister of Agriculture and Land Reclamation Essam Fayed asserted that the government was deeply interested in working to overcome the impact of climate change to avoid its negative impact on developm...
Egypt to Gather Additional $6 Bln Required for IMF Deal
Egypt to Gather Additional $6 Bln Required for IMF Deal 10/18/2016 - Egyptian Finance Minister Amr El Garhy said his country would gather an additional $6 billion in bilateral funding required to secure a $12 billion International Monetary Fund (IMF) loan within one or...

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