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Financials and Investment News in Egypt

Sherif Ismail welcomes migrant brainpowers to "Egypt Can" conference
Sherif Ismail welcomes migrant brainpowers to 12/15/2016 - Prime Minister Sherif Ismail has welcomed scientists and experts taking part in a conference that kicked off in the Red Sea city of Hurghada.

In his speech in the "Egypt Can" conference, S...
World Bank Group's IFC pledges up to $2 bn to Egypt's private sector
12/18/2016 - The International Finance Corporation (IFC), a member of the World Bank Group, has pledged up to $2 billion to Egypt in new investments over the next three years, underlining its support for the count...
Egypt's Banque Misr collects $850 million after pound flotation
Egypt's Banque Misr collects $850 million after pound flotation 12/18/2016 - The head of Egypt’s second largest public lender, Banque Misr, announced that the bank’s yield of US dollars has reached $850 million since the central bank’s decision to float the local currency in e...
Cabinet discusses economic files, investment bill
Cabinet discusses economic files, investment bill 12/18/2016 - The Cabinet held a meeting under Prime Minister Sherif Ismail where they discussed several political, economic, social and security files.

The Cabinet has completed its debates on the secon...
Egypt's Sisi arrives in Uganda to discuss boosting trade relations
Egypt's Sisi arrives in Uganda to discuss boosting trade relations 12/18/2016 - Egypt's President Abdel-Fattah El-Sisi arrived in Uganda for a one-day official visit at the invitation of President Yoweri Museveni.

The Egyptian president is accompanied by an official trad...
Sherif Ismail reviews report on first phase of giant land reclamation project
Sherif Ismail reviews report on first phase of giant land reclamation project 12/19/2016 - Prime Minister Sherif Ismail reviewed a detailed report on the first phase of a giant land reclamation project.

This came at a meeting with Minister of Water Resources and Irrigation Mohamed ...
Egypt, Somalia sign 2 MoUs on boosting economic cooperation
Egypt, Somalia sign 2 MoUs on boosting economic cooperation 12/19/2016 - Trade and Industry Minister Tareq Qabil and Somali Minister of Industry and Investment Omar Shoaib Mohamed attended the signing ceremony of two agreements to boost economic relations between the two c...
Pharmaceutical Products Prices to Increase by up to 50%
12/19/2016 - Sources with the Chamber of Pharmaceutical Industry said that domestic and foreign pharmaceutical companies have agreed with the Ministry of Health to approve an increase of 50 percent on a variety of...
Egypt's Banque Misr Signs Mou with Chinese Lender over US$500 Mln Loan
Egypt's Banque Misr Signs Mou with Chinese Lender over US$500 Mln Loan 12/19/2016 - Egypt's second-largest state-owned lender, Banque Misr, signed a memorandum of understanding with the Industrial and Commercial Bank of China (ICBC) for a US$500 million loan aimed at boosting dollar ...
Egypt Receives $500 Mln in 2nd Tranche of African Development Bank Loan
Egypt Receives $500 Mln in 2nd Tranche of African Development Bank Loan 12/19/2016 - Egypt received the second tranche, worth USD 500 million, of a $1.5 billion loan package from the African Development Bank (AfDB), Egypt's Ministry of International Cooperation (MoIC) announced.
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51 ships transit Suez Canal
51 ships transit Suez Canal 12/20/2016 - Fifty-one ships transited the Suez Canal, with a total cargo of 2.970 million tons.

The south-bound convoy included 30 vessels carrying 1.680 million tons, while the north-bound convoy incl...
80,000 Feddans of Looted Lands Restored
80,000 Feddans of Looted Lands Restored 12/20/2016 - More than 80,000 feddans of looted state lands have been restored by a committee formed by President Abdel Fattah El Sisi, Presidential adviser for national projects Ibrahim Mahlab said.

Th...
Egypt and EU Sign €420 Mln
Egypt and EU Sign €420 Mln 12/21/2016 - The signings launch the EU Facility for Inclusive Growth and Job Creation, aiming to support business creation and financing for SME's.

Egypt and the European Union signed two assistance prog...
Yields Rise At Egypt Six-Month,One-Year T-Bill Auction
12/22/2016 -  Average yields on Egyptian six-month and one-year treasury bills rose at auction , central bank data showed.

The yield on the 182-day treasury bills rose to 19.338 percent from 19.112 percen...
Egypt's Sisi Says Military Accounts for 1.5-2 Percent of Economy
Egypt's Sisi Says Military Accounts for 1.5-2 Percent of Economy 12/25/2016 - Egyptian President Abdel Fattah al-Sisi said that the military's economic activity accounted for no more than two percent of the country's output, dismissing suggestions that the military could contr...
CBE Governor: Loans of WB, AFDB to be used to meet financial commitments
CBE Governor: Loans of WB, AFDB to be used to meet   financial commitments 12/25/2016 - Governor of the Central Bank of Egypt (CBE) Tarek Amer said two loans Egypt recently received from the World Bank and the African Development Bank (AFDB) will be used to meet financial commitments. .<...
Sherif Ismail decides re-forming ministerial committees
Sherif Ismail decides re-forming ministerial committees 12/25/2016 - Prime Minister Sherif Ismail decided to re-form the ministerial committees for production, services, economy and social justice. .

The ministerial committee for production will be under the c...
Egyptian Exchange says Eastern Company applies for listing capital increase
Egyptian Exchange says Eastern Company applies for listing capital increase 12/26/2016 - Eastern Company applies for listing of authorised capital increase to EGP 3 billion from EGP 1.5 billion* Eastern Company applies for listing of issued capital increase to EGP 1.5 billion from EGP 750...
Sahar Nasr Signs Strategic Plan for Alexandria
Sahar Nasr Signs Strategic Plan for Alexandria 12/26/2016 - International Cooperation Minister Sahar Nasr signed a strategic plan with the Urban Planning Authority and the United Nations Development Program (UNDP) for Alexandria's urban development till 2032.<...
Sherif Ismail: Gov’t seeks to provide medicines at affordable prices
Sherif Ismail: Gov’t seeks to provide medicines at affordable prices 12/26/2016 - The government gives high priority to provide medicines for all citizens at affordable prices, Prime Minister Sherif Ismail said..

The government is coordinating with pharmaceutical compani...

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