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Financials and Investment News in Egypt

Egypt: Sczone, EXPA Sign Memo to Enhance Cooperation
4/6/2017 - Chairman of the Suez Canal Special Economic Zone (SCZone) Ahmed Darwish signed a memorandum of understanding with Board Chairperson of the Export Development Bank of Egypt (EXPA) Mervat Sultan on enha...
Egypt :Tarek Qabil inaugurates 5 factories in Sohag
Egypt :Tarek Qabil inaugurates 5 factories in Sohag 4/8/2017 - Trade and Industry Minister Tarek Qabil inaugurated five new factories in the Upper Egyptian city of Sohag

The factories will help secure 500 direct job opportunities for youth, Qabil said i...
Egyptian Exchange Gains EGP 9.6bn over Past Week
Egyptian Exchange Gains EGP 9.6bn over Past Week 4/8/2017 - The Egyptian Exchange gains exceeded EGP 9.6 billion over the past week, bringing the market capital to EGP 664.2 billion.

The gains were triggered by foreign investors' heavy purchases which...
Egypt: GAFI, DP Group Discuss Expansion Plan in Ain Sokhna Area
4/8/2017 - CEO of the General Authority for Investment and Free Zones (GAFI) Mohamed Khodair discussed at a meeting with CEO of the Dubai Ports World Group (DP) Sultan Ahmed bin Sulayem a plan to carry out expan...
Tarek Kabil: WTO Delegation to Visit Egypt
Tarek Kabil: WTO Delegation to Visit Egypt 4/8/2017 - A high-level delegation from the World Trade Organization (WTO) will visit Cairo to review Egypt's trade, economic and investment policies over the past years, Minister of Trade and Industry Tareq Qa...
Sherif Ismail: Government Seeks Upgrading Subsidy System
Sherif Ismail: Government Seeks Upgrading Subsidy System 4/9/2017 - Prime Minister Sherif Ismail said that the government is outlining a plan to develop the subsidy system and update information of ration cards and the data of cardholders.

In press statements...
Egypt's Annual Headline Inflation Up to 32.5%, Price Index Slows For Second Month in Row
4/10/2017 - Food and beverages prices increased year-on-year by 43% in March, making them the largest contributors to rising inflation

Egypt's annual headline inflation rose to 32.5 percent in March, up ...
Egypt: Faisal Islamic Bank of Egypt FY Consol Profit Rises
4/10/2017 - Faisal Islamic Bank Of Egypt FY consol net profit after minority interest EGP 2.91 billion versus EGP 782 million year ago

* FY consol net income from interests and sales EGP 3.85 billion v...
Sherif Ismail Approves of Consumer Protection Bill, Refers It to State Council
Sherif Ismail Approves of Consumer Protection Bill, Refers It to State Council 4/11/2017 - The cabinet under Prime Minister Sherif Ismail approved during its meeting a draft law on consumer protection and referred it to the State Council after carrying out some amendments.

The bil...
Egypt, European Commission to Sign Women Empowerment Accord
Egypt, European Commission to Sign Women Empowerment Accord 4/11/2017 - Egypt is set to sign an agreement on women empowerment with the European Commission , said Investment and International Cooperation Minister Sahar Nasr

Nasr, who was addressing the 4th Euro-...
Sisi Urges Making New Administrative Capital 'Smart City'
Sisi Urges Making New Administrative Capital 'Smart City' 4/11/2017 - President Abdel Fattah El Sisi has stressed the importance of providing high-standard services in the finance and business district in Egypt’s new administrative capital in order to create the appropr...
Naguib Sawiris Launches New Bank in Europe to Finance Small, Medium Enterprises
4/11/2017 - Riverbank S.A., which is majority-owned by Egyptian business tycoon Naguib Sawiris, officially launched operations in Europe, after receiving its license from the European Central Bank last month, the...
Egypt Signs €10 Million Grant Agreement with EU for Empowerment of Women
Egypt Signs €10 Million Grant Agreement with EU for Empowerment of Women 4/11/2017 - Minister of Investment and International Cooperation Sahar Nasr signed a grant agreement with Director General of the European Neighborhood Policy and Enlargement Negotiations Christian Danielsson for...
Egypt's Trade Deficit Down 37% Year-on-Year in Jan
Egypt's Trade Deficit Down 37% Year-on-Year in Jan 4/11/2017 - Egypt's trade deficit dropped 37.1 percent in January compared to the same month in 2016, reaching $2.34 billion, the state statistics body CAPMAS announced

. In an e-mailed statement, CAPMAS ...
Sahar Nasr Company Set Up to Fund Entrepreneurial Projects
Sahar Nasr Company Set Up to Fund Entrepreneurial Projects 4/12/2017 - Minister of Investments Sahar Nasr said that a new company was established to fund startups and entrepreneurial projects.

The new company will provide assistance for the youth to begin their...
Egypt, EU sign €10-mln grant to empower women
4/12/2017 - Investment and international Cooperation Minister Sahar Nasr and Director General for Neighborhood and Enlargement Negotiations of the European Commission Christian Danielsson signed a Euro 10-million...
Sahar Nasr Leads Egypt's Delegation to WB Meetings
Sahar Nasr Leads Egypt's Delegation to WB Meetings 4/17/2017 - Investment and International Cooperation Minister Sahar Nasr will lead Egypt's delegation to the spring meetings of the World Bank, which will be held in Washington on April 21-23.

Nasr will ...
Governor of the Central Bank of Egypt Leaves Egypt For IMF Meetings in Washington
Governor of the Central Bank of Egypt   Leaves Egypt For IMF Meetings in Washington 4/17/2017 - Governor of the Central Bank of Egypt (CBE) Tarek Amer left Cairo for the US to take part in meetings of the International Monetary Fund (IMF).

Led by Amer, an Egyptian delegation grouping a...
Egypt to Boost Use of Renewable Energy to 22% by 2020
Egypt to Boost Use of Renewable Energy to 22% by 2020 4/17/2017 - Egypt aims to increase its use of renewable energy to 22 percent by 2020, the country’s investment and international cooperation minister Sahar Nasr told regional director of Norway’s Scatec Solar Mor...
Foreign Currency Inflows for Egyptian Banks at $19.2 Bin since Flotation
4/18/2017 - Foreign currency inflows into the Egyptian banking system have reached $19.2 billion since the Egyptian pound was floated in November, the central bank said

The central bank raised interest ...

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