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Financials and Investment News in Egypt

Egypt's Central Bank Launches A EGP 5 Bln Fund to Develop Tourist Facilities
Egypt's Central Bank Launches A EGP 5 Bln Fund to Develop Tourist Facilities 12/26/2016 - The governor of the Central Bank of Egypt (CBE) announced the launching of an EGP 5 billion fund to help investors develop and upgrade tourist facilities including hotels, resorts and Nile boats natio...
Egypt's central bank to hold interest rates
Egypt's central bank to hold interest rates 12/27/2016 - Egypt's central bank is expected to keep interest rates unchanged, holding fire on further action until the impact on inflation of last month's steep hike in borrowing costs becomes clearer, a Reuters...
Egypt, Djibouti Sign Economic, Technical Agreement - Minister
Egypt, Djibouti Sign Economic, Technical Agreement - Minister 12/27/2016 - International Cooperation Minister Sahar Nasr said an economic and technical agreement was signed between Egypt and Djibouti in the presence of President Abdel Fattah El Sisi and his Djiboutian counte...
Sisi, Guelleh Attend Signing 7 Cooperation Deals, Mous
Sisi, Guelleh Attend Signing 7 Cooperation Deals, Mous 12/27/2016 - President Abdel Fattah El Sisi and his Djibouti counterpart Ismail Omar Guelleh witnessed signing seven cooperation agreements and memorandums of understanding (MoUs) in a number of domains and sector...
Sisi stresses importance of availability of all medicines at affordable prices
Sisi stresses importance of availability of all medicines at affordable prices 12/28/2016 - President Abdel Fattah El Sisi underlined the importance of taking the necessary measures to develop the health sector, ensuring that all medicines are available at affordable prices and upgrading the...
Tarek Amer: Full Coordination with Gov't on Monetary, Economic Policies
Tarek Amer: Full Coordination with Gov't on Monetary, Economic Policies 12/28/2016 - Governor of Central Bank of Egypt Tarek Amer said that full coordination was maintained between the CBE and the government with regard to the monetary, financial and economic policies which aim at ser...
Sisi orders gov't to step up efforts to carry out national food project
Sisi orders gov't to step up efforts to carry out national food project 12/28/2016 - President Abdel Fattah El Sisi ordered stepping up efforts to carry out a national food project, expand the establishment of livestock farms and greenhouses across Egypt and establish units for agricu...
Sherif Ismail: Reforms Country's Ministerial Economic Committee
Sherif Ismail: Reforms Country's Ministerial Economic Committee 12/28/2016 - The committee is tasked with assessing economic policies and maintaining financial stability in the short, medium and long term

Egypt's Prime Minister Sherif Ismail ordered the restructuring...
Tough Egyptian economic conditions will improve in 6 months, says Sisi
Tough Egyptian economic conditions will improve in 6 months, says Sisi 12/28/2016 - President Abdel Fattah al-Sisi said on Wednesday that tough economic conditions in Egypt would improve in six months and called on businessmen and investors to help the government curb price increases...
Yields rise at Egypt's six-month, one-year T-bill auction
Yields rise at Egypt's six-month, one-year T-bill auction 12/28/2016 - Average yields on Egyptian six-month and one-year treasury bills rose at an auction , central bank data showed.

The yield on 182-day treasury bills rose to 19.720 percent from 19.338 percent ...
Egypt Offers Exchange Rate Relief to Firms Hit by Pound Float
12/28/2016 - Egyptian companies unable to repay U.S.-dollar denominated debts after the devaluation of the pound will be allowed to negotiate fixed exchange rates with banks.
,br> The move aims to alleviate fi...
Dalia Khorshid:Cabinet probes investment bill
 Dalia Khorshid:Cabinet probes investment bill 12/29/2016 - Investment Minister Dalia Khorshid has asserted the Cabinet had called for introducing a number of amendments to the second draft of the investment bill during a meeting under Prime Minister Sherif Is...
Egyptian Exchange Says Block Trading on Pioneers Holding Shares Implemented
Egyptian Exchange Says Block Trading on Pioneers Holding Shares Implemented 12/29/2016 - Egyptian Stock Exchange Block trading on Pioneers Holding Company for Financial Investments shares implemented on December 29 for 9.5 million shares with value of EGP 111 million Further company cove...
Ministers of int'l cooperation, antiquities confer on funding of projects
Ministers of int'l cooperation, antiquities confer on funding of projects 12/29/2016 - International Cooperation Minister Sahar Nasr met with Minister of Antiquities Khaled el Anany to discuss current and future funds to support archaeological projects.

The meeting took up a p...
Egypt CBE Denies Rumor on Governor's Resignation
Egypt CBE Denies Rumor on Governor's Resignation 12/29/2016 - The Central Bank of Egypt (CBE) denied a rumor that its governor Tarek Amer had tendered his resignation.

Amer will continue his four-year tenure, a statement by the CBE said, adding the gove...
Ashraf El-Arabi :Economic Program Maintained in 2017
Ashraf El-Arabi :Economic Program Maintained in 2017 1/1/2017 - The government's economic program will be completed throughout 2017 and its progress be followed up every three months to assess achievements realized, said Planning Minister Ashraf el-Arabi

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Egypt, S. Korea Probe Cooperation in Transport Domain
Egypt, S. Korea Probe Cooperation in Transport Domain 1/1/2017 - Transport Minister Galal el Said met the South Korean ambassador to Egypt when they discussed cooperation in the different fields of transport, especially in Metro, railways and ports.

The tw...
Egypt's GASC changes sugar tender arrival date to Feb. 28
1/1/2017 - Egypt's main state buyer, the General Authority for Supply Commodities (GASC), said it had changed the arrival date for its latest sugar tender to until Feb. 28 from Feb. 20.

GASC said it wa...
Sherif Ismail: Gov’t Imposes Strict Control on Market Prices
Sherif  Ismail: Gov’t Imposes Strict Control on Market Prices 1/2/2017 - The government imposes strict control on prices on public markets, Prime Minister Sherif Ismail asserted.

The Egyptian citizen could play a key role in controlling market prices through repo...
Sherif Ismail: Reviews Plans to Increase Export, Decrease the Import
Sherif Ismail: Reviews Plans to Increase  Export, Decrease the Import 1/3/2017 - Prime Minister Sherif Ismail reviewed the government’s plans and programs which aim to increase export and decrease import in order to fix the trade balance deficit.

This came during Ismail’s...

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