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Financials and Investment News in Egypt

Sahar Nasr Participates In Meeting of House Economic Committee
Sahar Nasr Participates In Meeting of House Economic Committee 2/27/2017 - Investment and International Cooperation Minister Sahar Nasr took part the first meeting of the parliament's economic committee with its new form under MP Amr Ghalab.

The minister discussed ...
Egypt: Arab-Brazilian Chamber of Commerce Delegation to Visit Cairo
2/27/2017 - Egyptian Ambassador in Brasilia Alaa Roshdy said a delegation of the Arab-Brazilian Chamber of Commerce will visit Cairo

The visit, to last until March 4, aims at supporting the Egyptian eco...
Sisi Praises Suez Canal Authority Efforts in Boosting Egypt's Economy
Sisi Praises Suez Canal Authority Efforts in Boosting Egypt's Economy 2/28/2017 - President Abdel Fattah El Sisi praised efforts exerted by the Suez Canal Authority to develop work in the canal region to boost the country's economy and create more job opportunities for Egypt' s you...
Sisi Orders Implementing Developed Model of New Cities
Sisi Orders Implementing Developed Model of New Cities 2/28/2017 - President Abdel Fattah El Sisi gave his directives to implement a different administrative model in the new cities via uprooting bureaucracy and adopting flexibility in dealing with investors and citi...
Sherif Ismail Agrees to Form Committee of Public, Private Sectors to Promote Tourism
Sherif Ismail Agrees to Form Committee of Public, Private Sectors to Promote Tourism 2/28/2017 - Prime Minister Sherif Ismail agreed to form a higher committee of government bodies and the private sector to be tasked with drawing up plans to promote tourism.

Ismail took the decision at a...
Egypt lowers customs dollar again to EGP 15.75
2/28/2017 - Egypt's finance ministry lowered the customs dollar, for the second time in a month, to reach an exchange rate of EGP 15.75 down from EGP 16 in February, effective as of 1 March until mid-March, state...
Egypt's Sisi, Germany's Merkel To Inaugurate First Phase Of Siemens Power Megaproject
Egypt's Sisi, Germany's Merkel To Inaugurate First Phase Of Siemens Power Megaproject 2/28/2017 - Egypt’s President Abdel-Fattah El-Sisi and German Chancellor Angela Merkel will inaugurate the phase of a Siemens megaproject to build three new power plants in Egypt, the German ambassador said.
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Egypt: European Delegations to Visit Cairo for Investment Opportunities
2/28/2017 - Several European countries have started organizing official visits to Cairo for delegations comprised of investors and businessmen to discuss investment opportunities in the wake of the recent economi...
The National Bank of Egypt Raises Authorized Capital to EGP 50 Bln
3/1/2017 - The National Bank of Egypt (NBE) general assembly decided to increase the bank's authorized capital by 66.7 percent to hit EGP 50 billion, up from EGP 30 billion.

The decision was taken durin...
Egypt: Dollar Exchange Rate Stable at Five Major Banks
3/1/2017 - The exchange rate of the US dollar was stable at the five major banks in Egypt

The dollar price stood at EGP 15.70 for buying and 15.75 for selling at the National Bank of Egypt.

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Sahar Nasr: WB Delegation to Visit Egypt This Month
Sahar Nasr: WB Delegation to Visit Egypt This Month 3/1/2017 - AWorld Bank delegation will be visiting Egypt in the first half of March to get firsthand information about measures to improve the investment climate, said Sahar Nasr, the minister of investment and ...
Egypt Banks Cleared to Repatriate Foreign Firms' Long-Held Profits
3/1/2017 - Egyptian banks are set to allocate about a quarter of their excess hard currency to foreign firms seeking to repatriate profits, bankers said , helping ease a backlog built up before the country's pou...
Egypt: World Bank Delegation To Visit Egypt In First Half Of March
3/1/2017 - Delegates will meet with Egyptian officials to discuss government efforts to revive the country's flagging economy

A senior delegation of the World Bank Group will visit Egypt in the first ha...
Egypt's Economic Reforms Start to Bear Fruit
3/1/2017 - The Financial Times said that economic reforms in Egypt have started to bear fruit.

According to the publication, Egypt reappeared on the "investors' radar" after reducing the deficit in th...
Sahar Nasr Convenes with EFSA, Bourse Heads
Sahar Nasr Convenes with EFSA, Bourse Heads 3/2/2017 - Investment and International Cooperation Minister Sahar Nasr held a meeting with the heads of the Egyptian Financial Supervisory Authority (EFSA) Sherif Sami and the Egyptian Exchange Mohamed Omran.
Egypt's Eastern Co, Philip Morris Reach Agreement over Arrears
3/2/2017 - Egypt's top cigarette maker Eastern Company said it had reached an agreement with its international partner Philip Morris for the tobacco giant to pay back outstanding debt and make future payments in...
Sherif Ismail Prime Minister of Egypt Receives UAE Ambassador.
3/2/2017 - Sherif Ismail, Prime Minister of the Arab Republic of Egypt, received Juma Mubarak Al Junaibi, UAE Ambassador to Egypt and its permanent delegate at the Arab League, at the headquarters of the Egyptia...
Boutros Ghaly Only foreign investment can reduce the burden of public debt
3/2/2017 - Only foreign investment can reduce the burden of public debt because Egyptian investment will not be able to raise growth in the meantime, said former Mubarak-era Finance Minister Youssef Boutros Ghal...
Egypt: US Delegation to Visit Egypt for Talks on Establishing Pharmaceutical Factory in Sczone
3/4/2017 - Chairman of the Suez Canal Economic Zone (SCZone) Ahmed Darwish said a US company voiced readiness to establish a pharmaceutical factory in the SCZone.

In a statement issued, Darwish added th...
Sahar Nasr: Investment Minister, Cypriot president review promoting economic cooperation
Sahar Nasr: Investment Minister, Cypriot president review promoting economic cooperation 3/4/2017 - Cypriot President Nikos Anastasiadis received Egyptian Minister of Investment and International Cooperation Sahar Nasr during her official visit to Cyprus to chair the Egyptian side at the second ses...

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