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Financials and Investment News in Egypt

Finance Ministry Auctions EGP 11.5bn T-Bills
1/16/2017 - The Finance Ministry auctioned treasury bills at a total value of 11.5 billion pounds.

In an online statement, the ministry said it sold six billion pounds of 91-day T-bills. The average yiel...
Global Telecom Approves Buyback of 524.6 Mln Shares at EGP 7.9
1/16/2017 - Global Telecom Holding Board approves buyback of 524.6 million treasury shares at price of EGP 7.90

Board approves bridge loan of $200 million from financial institutions
Egypt to Tap The Markets Agro-Products in Uganda - Min
1/17/2017 - Egypt agrees with Uganda on tapping markets for Egyptian agro-products in the African state.

During a meeting with Ugandan Minister of Agriculture, Animal Industry and Fisheries Vincent Ssesm...
House Speaker Urges Belarus to Support Egyptian Efforts
1/17/2017 - Speaker of the Egyptian House of Representatives Ali Ali Abdel Aal called on Belarus President Alexander Lukashenko to support efforts exerted by Egypt to sign a free trade agreement with the Eurasia...
Egypt, China Sign Memo of Understanding For Information Linkage
1/17/2017 - The memo also aims at developing cooperation in the technological and industrial technology through the application of a new program aiming at linking Egyptian cities with their Chinese counterparts.<...
Sisi Urges Setting Up Strategic Vision for Investment to Maximize Business Opportunities
Sisi Urges Setting Up Strategic Vision for Investment to Maximize Business Opportunities 1/17/2017 - President Abdel Fattah El Sisi said that drawing up a strategic vision for the investment will maximize investment opportunities with high economic feasibility and provide new jobs.

Speaking...
Uber Announces Fare Increase
1/17/2017 - Uber company raised the starting fares of its rides from LE4 to LE5 for economy taxis, and from LE5 to LE6 for the premium service.

Careem's starting fare meanwhile is set at LE5.5.
The Egyptian Exchange Gains EGP 5bn
The Egyptian Exchange Gains EGP 5bn 1/18/2017 - The Egyptian Exchange (EGX) gained about five billion pounds at the end of trading on the back of purchase operations by foreign investment funds.

The EGX 30 benchmark index upped by 1.29 per...
Trade Minister to Review Investment Opportunities in Egypt at Davos Forum
Trade Minister to Review Investment Opportunities in Egypt at Davos Forum 1/18/2017 - Speaking from Davos, where he is attending the inauguration of the world economic forum, Trade Minister Tarek Qabil said he will review investment opportunities in Egypt.

Qabil told MENA corr...
Egyptair Announces Special Offers on Domestic Round-Trip Tickets
1/18/2017 - EgyptAir Holding Company announced special offers for one-day round trips from Cairo and Borg al-Arab airports to domestic destinations like Sharm el-Sheikh, Hurghada, Luxor, and Aswan, said company C...
Egypt Fixes Customs Dollar Exchange Rate to Help Importers
1/18/2017 - Egypt will fix its customs dollar exchange rate and adjust it on a monthly basis to help importers better cope with pricing of their products after the central bank floated its currency in November.
Egypt: IMF To Release Staff Report on Egypt's $12 Bln Loan Agreement
1/18/2017 - The International Monetary Fund (IMF) will release in an online conference the staff report and documents related to Egypt’s three-year $12 billion loan agreement.

The online conference, to ...
Cairo To Receive 2nd Tranche of $12 Bln Loan in April: IMF Egypt Mission Chief
1/18/2017 - Chris Jarvis, the IMF mission chief for Egypt, praised Egypt's 'good start' in implementing its economic reform programme

The International Monetary Fund (IMF) said in an online conference t...
Egypt Considering Temporary Stamp Duty on Stock Market Deals
1/19/2017 - Egypt is considering temporarily reintroducing a stamp duty on stock market transactions after the tax was frozen in 2014, two finance ministry sources told Reuters

. The comments come a day ...
Egypt's Suez Canal Revenues Fall To $5 Bln in 2016 from $5.175 Bln In 2015
1/19/2017 - Egypt's Suez Canal revenues fell to $5.005 billion in 2016 from $5.175 billion the previous year, Reuters calculations showed

A government website published earlier data showing the revenue...
Egypt :Russia Says 18,000 T of Seized Wheat Might Be Released In Egypt after Fumigation
1/19/2017 - Russia's agriculture safety watchdog said 18,000 tonnes of Russian wheat, seized by Egypt at an Alexandria port in November, could be released by local officials after fumigation.

Egyptian pr...
EGYPT: Cabinet Approves Amendment of Article 18 of Draft Investment Law
EGYPT: Cabinet Approves Amendment of Article 18 of Draft Investment Law 1/19/2017 - The cabinet under Prime Minister Sherif Ismail approved an amendment suggested to the article 18 of the new investment law.

Under the amendment, the Supreme Council for Investment is added...
Egypt: Nasr Attends Women World Leaders Session
 Egypt: Nasr Attends Women World Leaders Session 1/19/2017 - International Cooperation Minister Sahar Nasr took part in a session of the Council of Women World Leaders on the fringe of the Davos Forum.

A Cluster of key world figures attended the sessi...
Egyptian Exchange: Bourse Committed To Delaying Taxes On Profits For 3 Years
Egyptian Exchange: Bourse Committed To Delaying Taxes On Profits For 3 Years 1/19/2017 - Egyptian Exchange Chairman Mohamed Omran stressed the bourse's commitment to deferring taxes on profits for three years in line with the Supreme Investment Council decisions.

In a statement O...
Egypt’s Staple Foods Sufficient for 4-6 Months, Including Sugar: Supply Minister
1/21/2017 - The ministry has received over 1 million tonnes of sugarcane and beets from domestic farmers which will be converted into refined sugar and injected into the market in February

Egypt’s suppli...

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