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Financials and Investment News in Egypt

Qabil: cotton Industry employs 1.2 million people
Qabil: cotton Industry employs 1.2 million people 12/6/2016 - The cotton industry, known for its high quality and durability, employs around 1.2 million people, said Trade and Industry Minister Tarek Qabil.

The spinning and weaving industry is facing...
Egypt, Germany discuss cooperation in electricity field
Egypt, Germany discuss cooperation in electricity field 12/6/2016 - Minister of Electricity Dr. Mohamed Shaker said the relationship between Egypt and Germany in the field of electricity and renewable energy is not only restricted to cooperation, but has evolved into ...
China, Egypt sign currency swap deal
12/6/2016 - China's central bank signed a currency swap agreement with its Egyptian counterpart worth CNY 18 billion (USD 2.6 billion) to strengthen trade and financial cooperation, state-run Xinhua News Agency r...
Suez Canal offers discounts for shippers to pay fees 3 or 5 years in advance
Suez Canal offers discounts for shippers to pay fees 3 or 5 years in advance 12/7/2016 - Chairman of the Suez Canal Authority Mohab Mamish said his recent foreign tours had good results with regard to the offers provided for shippers using the Suez Canal.

Shippers that will pay...
Nasr: AFDB will extend 500m dollars to Egypt
Nasr: AFDB will extend 500m dollars to Egypt 12/7/2016 - International Cooperation Minister Sahar Nasr said that the African Development Bank approved extending a loan to Egypt worth 500 million dollars.

The funds will be channeled into supportin...
Cabinet Reviews Study on "Golden Triangle" Project
Cabinet Reviews Study on 12/7/2016 - The Cabinet convened to review a study on the Golden Triangle project. The Golden Triangle area is rich with minerals, particularly gold, titanium and zinc, said Trade and Industry Minister Tareq Qab...
Russia Says 18,000 T of Seized Wheat Passed Egypt's Quarantine
12/8/2016 - Russia's agriculture safety watchdog said on Thursday 18,000 tonnes of Russian wheat, seized by Egypt at an Alexandria port in November, had passed quarantine checks successfully.

Egyptian pr...
Egypt to Issue $1 Bln 1-Year Dollar-Denominated T-Bill
12/8/2016 - Egypt will issue a $1 billion, one-year treasury bill denominated in U.S. dollars, the central bank said.

It set the auction deadline as 0900 GMT Dec. 12 and said the bill would be settled o...
Samsung Egypt: Mobile Market in Egypt Valued At 1.4 Billion Dollars
12/10/2016 - The market of appliances, including TV sets, in Egypt is valued at a total of 1.5 billion dollars, while the mobile market hits 1.4 billion dollars, an official at Samsung Egypt said.

Sa...
Egypt Received Inflows of $1 Billion in Month since Currency Float
Egypt Received Inflows of $1 Billion in Month since Currency Float 12/11/2016 - Egypt's central bank governor Tarek Amer said on Saturday the country had received inflows of around $1 billion in the month since it floated the pound in the currency markets.

"We receive...
Nasr Urges Participation of Developing Countries in Taking Int'l Economic Decisions
Nasr Urges Participation of Developing Countries in Taking Int'l Economic Decisions 12/11/2016 - International Cooperation Minister Sahar Nasr attended a symposium as part of the global governance forum, which was held by the Organization for Economic Cooperation and Development (OECD).

...
Sisi: Egypt's Progress Requires Commitment, Devotion from All Citizens
Sisi: Egypt's Progress Requires Commitment, Devotion from All Citizens 12/11/2016 - President Abdel Fattah El Sisi said that the "progress and development of our nation require from all Egyptians to be committed, punctual and devoted to work."

“All Egyptians should know that...
Sisi: Egypt keen on promoting cooperation with Russian companies
Sisi: Egypt keen on promoting cooperation with Russian companies 12/13/2016 - Egypt is keen on holding cooperation with Russian companies in the various spheres, including the petroleum and gas sectors, said President Abdel Fattah El Sisi.

During his meeting with Ru...
Ukrainian Amb. Stresses Importance of Convocation of Egyptian-Ukrainian Commission
12/13/2016 - Ukrainian Ambassador in Cairo, Hennadiy Latte stressed the importance of the convocation of the Intergovernmental Ukraine-Egypt Commission on Trade, Economic, Scientific and Technical Cooperation in K...
Afdb Approves 500m Dollars to Egypt
Afdb Approves 500m Dollars to Egypt 12/14/2016 - Minister of International Cooperation Sahar Nasr said that the African Development Bank approved extending to Egypt the second batch, worth 500 million dollars, of a total $1.5bn-loan to be offered ov...
Galal El Said, Greek Amb Discuss Maritime Cooperation
Galal El Said, Greek Amb Discuss Maritime Cooperation 12/14/2016 - Minister of Transport Galal El Said received Greek Ambassador in Cairo Michael Diamessis.

They discussed cooperation between the two countries in the maritime transport domain within the fram...
Australian amb praises Egypt's achievements in electricity domain
Australian amb praises Egypt's achievements in electricity domain 12/14/2016 - Australian Ambassador to Egypt Neil Hawkins hailed the achievements of the electricity and energy sector in Egypt within a short time frame to overcome challenges.

The ambassador's stateme...
Sherif Ismail, irrigation minister confer on projects to optimize use of water resources
Sherif Ismail, irrigation minister confer on projects to optimize use of water resources 12/14/2016 -  Prime Minister Sherif Ismail met his minister of irrigation to review the implementation of a number of irrigation projects.

Ismail pressed for updating scientific studies to optimize the...
Sherif Ismail says govt keen on quickly inaugurating development projects
12/14/2016 - Prime Minister Sherif Ismail said his government is keen on quickly implementing development projects across Egypt to go into effect as soon as possible.

This should help improve the quali...
Sherif Ismail has Meeting with a group of investors on the Red Sea Governorate
Sherif Ismail has Meeting with a group of investors on the Red Sea Governorate 12/14/2016 - After the inauguration of the Conference today of the first national experts and scientists of Egypt abroad, which is held in Hurghada, PM Sherif Ismail met with a group of investors on the Red Sea Go...

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