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Financials and Investment News in Egypt

Sahar Nasr: Government Works to Implement Comprehensive Economic Reform Program
3/4/2017 - Egypt’s government is working to implement an all-out economic reform program and is determined to go ahead with legislative and administrative amendments to attract foreign investments in several pro...
Cairo, Arab-Brazilian chamber of commerce sign cooperation deal
3/4/2017 - The Cairo Chamber of Commerce and the Arab-Brazilian Chamber of Commerce have signed a cooperation deal to increase trade exchange between Egypt and Brazil in the coming period.

In a statemen...
Egypt: Russian Industrial Zone to Be Built Under Usufruct Right-- Sczone
3/4/2017 - Chairman of the General Authority for the Suez Canal Economic Zone (SCZone) Ahmed Darwish said that a Russian industrial zone in Eastern Port Said will be built under a usufruct right for 50 years.
Egypt: New measures to develop iron and steel, spinning and weaving sectors
Egypt: New measures to develop iron and steel, spinning and weaving sectors 3/5/2017 - Minister of Public Business Sector Ashraf el-Sharqawi said that he discussed new measures to develop the iron and steel and the spinning and weaving sectors during his meeting with Prime Minister Sher...
Sisi Urges Increasing Foreign Exchange Reserve with CBE
Sisi Urges Increasing Foreign Exchange Reserve with CBE 3/5/2017 - President Abdel Fattah El Sisi has stressed the importance of increasing hard currency reserve with the Central Bank of Egypt (CBE); a measure that will positively affect economic indicators in the co...
Sahar Nasr: Investment min, Cypriot president review promoting economic cooperation
Sahar Nasr: Investment min, Cypriot president review promoting economic cooperation 3/5/2017 - Cypriot President Nikos Anastasiadis received Minister of Investment and International Cooperation Sahar Nasr during her official visit to Cyprus leading the Egyptian side to meetings of the Egyptian-...
National Bank of Kuwait Egypt BOARD APPROVES CAPITAL INCREASE
3/6/2017 - National Bank Of Kuwait Egypt Sae Board approves issued and paid-up capital increase to EGP 1.5 billion from EGP 1 billion through bonus share issue.

Board approves authorised capital incre...
Yields Rise on Egypt's Three and Seven Year Bonds
3/6/2017 - Corrects yields in second paragraph to 16.75 and 16.90) Average yields on Egypt's 3-year and 7-year Treasury bonds rose at an auction data from the central bank showed.

The 3-year bond ave...
Remittances from Egyptians at $5 bln in three months after currency float
3/6/2017 - Remittances from Egyptians abroad increased by 20 percent year-on-year in the three months following the country's November currency float, totalling about $5 billion, a central bank statement said
Egypt: 23% Increase in Remittances from Egyptians Expats in January
3/6/2017 - Remittances from Egyptian citizens working abroad rose by 23% in January to US$1.6 billion, compared to US$1.3 billion in January 2016, the Central Bank of Egypt said

Since the currency deval...
Egypt: 47 Ships Transit Suez Canal
3/6/2017 - Forty-seven ships transited the Suez Canal, with a total cargo load of 2.9 million tons.

The south-bound convoy included 23 vessels carrying around 1.6 million tons, while the north-bound con...
Egypt: Promising Investment Opportunities Available In Egypt
3/7/2017 - Chairman of the General Authority for Investment and Free Zones Mohamed Khodeir said Egypt has now many promising investment opportunities, stressing that the authority is open to all Spanish investor...
Sherif Ismail Economic Ministerial Group Probes Governmental Investment Issues
 Sherif Ismail Economic Ministerial Group Probes Governmental Investment Issues 3/7/2017 - Prime Minister Sherif Ismail chaired a meeting of the economic ministerial group in the presence of the ministers of trade and industry, finance, supply and internal trade, agriculture and land reclam...
Sahar Nasr Investment Ministry Prioritizes Solving Problems Facing Investors
Sahar Nasr Investment Ministry Prioritizes Solving Problems Facing Investors 3/7/2017 - Finding solutions to problems facing investors along with removing hindrances facing them are top priorities of the ministry to encourage pumping more investments, said Investment and International Co...
Sisi Says Investment Map Should Highlight Various Opportunities
Sisi Says Investment Map Should Highlight Various Opportunities 3/8/2017 - President Abdel Fattah El Sisi asserted the importance that the investment map be well-prepared to include the various investment opportunities in Egypt.

Sisi made the comments during his me...
Sisi Directs Government to Curb Inflation Effects on Citizens
Sisi Directs Government to Curb Inflation Effects on Citizens 3/8/2017 - President Abdel Fattah El Sisi held a meeting with Prime Minister Sherif Ismail and Finance Minister Amr el Garhy.

During the meeting, Sisi ordered the government to work on reducing the infl...
The Egyptian Exchange Bourse Gains EGP4bn
The Egyptian Exchange Bourse Gains EGP4bn 3/8/2017 - The Egyptian Exchange (EGX) indexes recorded collective gains at the close of trading, amid expectations of an upcoming short period of profit-taking and restructuring financial portfolios of investor...
Egyptian Transport and Commercial Services FY Profit Rises
3/8/2017 - Egyptian Transport and Commercial Services Co FY consol net profit EGP 62.1 million versus EGP 10 million years ago

FY consol revenue EGP 215.5 million versus EGP 131.7 million year ago
Egypt's Foreign Trade worth $21 Billion since Currency Flotation
Egypt's Foreign Trade worth $21 Billion since Currency Flotation 3/8/2017 - Egypt's foreign trade since early November – when the government floated the country's currency – till the end of February amounted to $21 billion, state news agencyciting a central bank statement.
Sahar Nasr. Cabinet Mulls Efforts to Improve Business Atmosphere
Sahar Nasr. Cabinet Mulls Efforts to Improve Business Atmosphere 3/9/2017 - The Cabinet convened to discuss efforts to improve the business atmosphere in Egypt, said Investment and International Cooperation Minister Sahar Nasr.

Nasr said her Ministry is working on...

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