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Financials and Investment News in Egypt

Sherif Ismail: Markets to Stabilize When Exchange Rate Becomes Stable
Sherif Ismail: Markets to Stabilize  When Exchange Rate Becomes Stable 1/3/2017 - Prime Minister Sherif Ismail said that markets in Egypt are expected to stabilize within three months when the exchange rate becomes stable, pointing out that the current stage has seen many changes d...
Sherif Ismail Chairs 'Tahya Misr' Board Meeting on Nuba, Most Needy Villages Projects
Sherif Ismail Chairs 'Tahya Misr' Board Meeting on Nuba, Most Needy Villages Projects 1/3/2017 - Prime Minister Sherif Ismail chaired a meeting by the board of the Long Live Egypt "Tahya Misr Fund" on several projects financed by the fund in various govern orates.

The ministers of local ...
Egypt's cabinet dismisses reports on new fuel prices increase
1/3/2017 - Egypt began a trial run for the fuel smart card system with official assurances that the system does not limit individuals' share of subsidised fuel

The Egyptian cabinet has dismissed media r...
Egypt's trade deficit down 19.9 pct year-on-year in October
1/3/2017 - Month-over-month the deficit increased 22.8% in October, compared to September 2016

Egypt's trade deficit dropped 19.9 percent in October 2016 compared to the same month in 2015, reaching EGP...
Ministries of Antiquities and Tourism Sign Cooperation Protocol to Develop Giza Plateau
1/4/2017 - Egypt’s ministries of antiquities and tourism have signed a cooperation protocol to co-manage tourist services at archaeological sites all over the country in an attempt to promote tourism.

M...
Egypt's bourse gains EGP 4.5bn
Egypt's bourse gains EGP 4.5bn 1/4/2017 - The Egyptian Exchange (EGX) indexes showed mixed performance at the close trading amid purchase operations from foreign institutions and investors.

The market capital gained about EGP 4.5 b...
Egypt approves bankruptcy law to spur investment
1/4/2017 - The Egyptian cabinet approved the country's first bankruptcy law, Justice Minister Hossam Abdelrahim said, part of an economic reform drive aimed at encouraging investment.

The law aims to ...
Vodafone, Orange Referred to Prosecution Over 4G Service Ads
1/4/2017 - The Consumer Protection Agency said on Tuesday it has referred Orange and Vodafone companies to the Public Prosecution over deceiving consumers and providing them with incorrect information on the fou...
Egypt Cabinet Approves Law Abolishing Prison Terms in Bankruptcy Cases
Egypt Cabinet Approves Law Abolishing Prison Terms in Bankruptcy Cases 1/5/2017 - The Egyptian cabinet has approved a law abolishing prison sentences in bankruptcy cases and limiting punishment to a monetary fine, Minister of Justice Hossam Abdel-Rehim announced.

Abdel-Reh...
Senior 'Economist' Analyst Expects Egyptian Pound Value to Rise By 14%
1/7/2017 - Simon Baptist, the Global Chief Economist at The Economist Intelligence Unit, expected the value of the Egyptian pound to increase by 14 percent against the US dollar in 2017, after a sharp decline i...
Sczon Head Visits Berlin to Boost Economic Ties
Sczon Head Visits Berlin to Boost Economic Ties 1/8/2017 - Head of the General Authority for Suez Canal Economic Zone (SCZone) Ahmed Darwish starts a four-day visit to Germany during which he will meet with senior German officials and businessmen to attract i...
Egypt's Sisi meets finance minister, discusses economic reforms
Egypt's Sisi meets finance minister, discusses economic reforms 1/8/2017 - Egypt’s recent economic reforms were discussed and evaluated in the meeting between President El-Sisi and Finance Minister Amr El-Garhy Egypt's President Abdel-Fattah El-Sisi met with Finance Minist...
Egypt Appoints New Head of Agricultural Quarantine
1/8/2017 - Egypt has appointed a new head for agricultural quarantine, the Agriculture Ministry said in a statement.

Najla Mousa Balabel was appointed to head the central administration for agricultural...
Egypt's Pound Strengthens at Banks as Demand from Importers Eases
Egypt's Pound Strengthens at Banks as Demand from Importers Eases 1/8/2017 - The Egyptian pound strengthened slightly at banks as demand for dollars by importers eased, bankers told Reuters.

The dollar was being bought for around 18 pounds at most banks, down from aro...
Egypt: US Businessmen Mull New Suez Canal Area Investments
1/9/2017 - A delegation of American businessmen headed by Jack Wheeler visited the new economic zone of the Suez Canal, on Sunday.

The businessmen discussed means of cooperation and identified investmen...
Sisi Presses For Efforts to Control Market Prices
Sisi Presses For Efforts to Control Market Prices 1/9/2017 - President Abdel Fattah El Sisi has stressed the need to continue efforts to control market prices and provide social protection for citizens.

At a meeting with Prime Minister Sherif Ismail , ...
Sisi Urges Completing Power Grids to Upgrade Efficiency of Networks
Sisi Urges Completing Power Grids to Upgrade Efficiency of Networks 1/9/2017 - President Abdel Fattah El Sisi has ordered quick action to complete power grids and upgrade the efficiency of distribution networks.
At a meeting with Electricity Minister Mohamed Shaker , ...
Egypt's Economic Growth Rate Up to 3.4 Pct in Q1 Of 2016/17
Egypt's Economic Growth Rate Up to 3.4 Pct in Q1 Of 2016/17 1/9/2017 - Egypt's economic growth rate registered 3.4 percent of the Gross Domestic Product (GDP) in the first quarter of fiscal year 2016/17, the cabinet announced following a meeting between Prime Minister S...
Egypt's Sisi Meets With 27 Regional, Global Investment Funds
Egypt's Sisi Meets With 27 Regional, Global Investment Funds 1/9/2017 - Egypt's president Abdel-Fattah El-Sisi met with representatives from 27 regional and international investment funds in Cairo, in a meeting organised by Egypt's biggest investment fund, EFG-Hermes, to ...
Egyptian pound strengthens: around 18 per dollar in banks
1/9/2017 - The Egyptian pound remained steady at around 18 per US dollar in most banks .

The dollar was sold at the Al Ahli Bank, Banque du Caire and the Central Bank of Egypt at LE18.11, while it was b...

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