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Financials and Investment News in Egypt

Sisi: Economy is Moving in Right Direction
Sisi: Economy is Moving in Right Direction 2/12/2017 - President Abdel Fattah El Sisi said that credible international reports indicate that the national economy is on the right track.

The remark was made at a meeting with the prime minister, th...
DAE Delivers First of Eight Boeing 737-800NG to Egyptair
2/12/2017 - EgyptAir received its 1st Boeing 737-800 aircraft. This is the inaugural delivery of the Sale & Leaseback with PDP funding agreement between EgyptAir and Dubai Aerospace Enterprise (DAE) Ltd., which w...
Egypt: Three British Trade Missions Visit to Explore Investment Opportunities
2/13/2017 - UK Prime Minister’s Trade Envoy, Sir Jeffrey Donaldson, along with 40 delegates from British companies arrive to Egypt this week “to assess new trade and investment opportunities and identify potentia...
Egypt's five- and 10-year bond yields fall at auction
2/13/2017 - Egypt sold five-year and 10-year treasury bonds at lowers yields than at the previous sale, data from the central bank showed.

The average yield on the five-year bond dropped to 16.676 percen...
Egypt: Finance Ministry Auctions EGP 11bn T-Bills
2/13/2017 - The Finance Ministry auctioned treasury bills at a total value of 11 billion pounds.

In an online statement, the ministry said it sold 5.75 billion pounds worth of 91-day T-bills with an aver...
Egypt's Rising Inflation Expected to Go Down in April
Egypt's Rising Inflation Expected to Go Down in April 2/13/2017 - Inflation is expected to ease in Egypt as of April after peaking in the first quarter of 2016/17, Egypt’s finance minister Amr El-Garhy said in a televised interview with Bloomberg.

Egypt's s...
Egypt's Petroleum Ministry, Italy's Eni, BP Sign Agreement on Zohr Gas Field
Egypt's Petroleum Ministry, Italy's Eni, BP Sign Agreement on Zohr Gas Field 2/14/2017 - Prime Minister Sherif Ismail attended the signing of an agreement between Egypt’s Petroleum Minister Tarek Mulla, Chief Executive Officer of Italian Oil Company Eni Claudio Descalzi and Chief Executi...
Egypt : Banks Collected $12.3 Bln Since Liberating Exchange Rate
2/14/2017 - The Egyptian banks have collected $12.3 billion since a decision was taken to liberate the exchange rate on November 3, 2016, a source at the Central Bank of Egypt (CBE)

As many as $635 mill...
Egypt: US Dollar Continues Decline at NBE
2/14/2017 - The US dollar exchange rate continued its decline at the National Bank of Egypt by 53 piasters . It registered LE16.85 for purchasing and LE16.9 for selling, compared to

LE17.38 for purchasi...
Egypt's Core Inflation Soars to A Record 30.86 Pct In January 2017
Egypt's Core Inflation Soars to A Record 30.86 Pct In January 2017 2/14/2017 - The Central Bank of Egypt announced that the country's core inflation soared to a record 30.86 percent in January from 25.86 percent the previous month, as consumers continue to be hit with prices up...
Egypt’s economic transition could be 'coming to a close
2/14/2017 - Egypt is making good progress in its economic reform program and the recent developments might be an indicator that the transition is coming to a close, International Monetary Fund Managing Director C...
Egypt Lowers Customs Dollar Rate to EGP 16 Until end of February
2/16/2017 - Egypt's Ministry of Finance set the customs dollar evening at an exchange rate of EGP 16, effective as, state news agency.

The new rate reflects the recent leap in the Egyptian pound's value ...
Egypt: Eni, BP Plan More Investment in Egypt than Any Other Country
2/16/2017 - Eni and BP, Italian and British companies operating in the oil and natural gas excavation field, plan to invest more in Egypt than in any other country over the next five years, Bloomberg news agency ...
Trade Ministry Launches 1st Stage of Industrial Investment Map in Upper Egypt
Trade Ministry Launches 1st Stage of Industrial Investment Map in Upper Egypt 2/18/2017 - Trade and Industry Minister Tarek Qabil said the first stage of industrial investment map of seven Upper Egyptian governorates was launched.

In a statement , the minister said the seven gover...
Egypt: Indonesia Releases Seized Shipments of Citrus
Egypt: Indonesia Releases Seized Shipments of Citrus 2/18/2017 - Egypt's commercial office in Jakarta has obtained an approval from the agricultural quarantine authority in Indonesia to release all seized shipments of citrus that had been exported by an Egyptian co...
Mahlab to Report to Sisi on Saving Egypt's Wealth of Raw Gold
Mahlab to Report to Sisi on Saving Egypt's Wealth of Raw Gold 2/18/2017 - Presidential aide for national and strategic projects Ibrahim Mahlab is scheduled to prepare a report for President Abdel Fattah El Sisi on ways to save Egypt's wealth of raw gold.

Concluding...
Egypt Central Bank Leaves Key Interest Rates Unchanged As Pound Strengthens
Egypt Central Bank Leaves Key Interest Rates Unchanged As Pound Strengthens 2/18/2017 - The Central Bank of Egypt (CBE) left its key interest rates unchanged at a meeting of its Monetary Policy Committee (MPC), holding fire as the pound currency strengthened to its lowest rate versus t...
Sherif Ismail Meets With the Minister of Investment and International Cooperation
Sherif Ismail Meets With the Minister of Investment and International Cooperation 2/18/2017 - In completion of the series of meetings held by Prime Minister Sherif Ismail with the new ministers to become familiarized with their action plans in their ministries during the upcoming period, Eng. ...
Sahar Nasr to CONTINUE EFFORTS to LURE MORE INVESTORS
Sahar Nasr to CONTINUE EFFORTS to LURE MORE INVESTORS 2/19/2017 - Investment and International Cooperation Minister Sahar Nasr said that she will continue efforts to finalize the investment law and measures aiming to facilitate business for investors.

In a ...
Local Development Minister Pledges to Achieve Quantum Leap in Governorates
2/19/2017 - Local Development Minister Hisham el-Sherif had talks with Prime Minister Sherif Ismail on ways to benefit from advantages of all governorates.

In statements following the meeting, the minist...

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