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Financials and Investment News in Egypt

Egypt: Acting Premier Follows Up Provision of Loans For Small, Medium Enterprises
12/28/2017 - Acting Premier and Housing Minister Mostafa Madboly held a meeting to follow up the performance of a committee tasked with providing loans for small and medium-sized enterprises.

The meeting...
Egypt: Investors on Bourse List Increased By 26 Percent
12/28/2017 - Minister of Investment and International Cooperation Sahar Nasr said that the number of new foreign investors on the bourse hit 1,150 in 2017 at an increase rate of 26 percent compared to the past y...
Egyptian Companies Obliged to Label all Food Products with Prices By January
12/31/2017 - Egyptian companies will begin applying price tags to food products starting or else be subject to legal penalties, state-run news agency MENA quoted Minister of Supply and Internal Trade Ali Moselhi ...
Egypt Maintains Customs Exchange Rate at 16 Pounds per Dollar in January 2018
12/31/2017 - Egypt will maintain its customs exchange rate at EGP 16 per US dollar, effective , till the end of January 2018.

In an official statement the finance ministry said the decision to keep the c...
Egypt: Sisi Issues Instructions to Develop Electricity Sector
12/31/2017 - President Abdel Fattah El Sisi issued his directives to continue efforts aimed at comprehensive development of the electricity sector.

This came in a meeting between the president and Actin...
Egypt: Customs Dollar Price Fixed At EGP 16 During January
12/31/2017 - The customs dollar exchange rate will be fixed at 16 pounds during January, the Finance Ministry said .

The decision to maintain the price of the customs dollar comes in light of a stable exc...
Egypt's Assets Move Forward in 2018 with Structural Reforms
1/1/2018 - Egypt is moving forward in 2018 with structural reforms that helped make the nation’s assets among the best performers in the Middle East.

Foreign holdings of treasury bills was about $19 bil...
Egypt: Bitcoin Trading Is Unlawful Pursuant to Islamic Sharia, Says Egypt's Grand Mufti
1/1/2018 - Trading of the world's leading cryptocurrency Bitcoin is unlawful in accordance with Islamic Sharia, Egypt’s Grand Mufti Shawki Allam.

In an official fatwa, Allam said that trading such a "vi...
Egypt's FX Reserves Expected To Rise to $39.8bln in 2018
1/2/2018 - Egypt's foreign exchange reserves are expected to jump in the next financial year 2018-2019, as it is expected to rise to a new record at $39.8 billion, according to EFG-Hermes.

The figure c...
Egypt: E-SICO Starts Selling First Egyptian-Made Mobile Phone in Second Half of January
1/2/2018 - The Egyptian Silicon Industries Co. (E-SICO), which makes the first mobile phone inside Egypt, announced that its customers can start reserving their 4G smart phone’ "Nile X" as of the second half of ...
Egypt Approves Three 'Important International Agreements' – Sahar Nasr
1/3/2018 - The Egyptian government has agreed to sign three “important international agreements,” including a 540 million euro deal with the European Union to support social security, legislative reforms and new...
Egypt's Foreign Reserves Increase to $37.019 Bln at End of December 2017
1/3/2018 - Egypt's foreign reserves increased to $37.019 billion by the end of December, up from $36.723 at the end of November, the Central Bank of Egypt announced .

Egypt's net foreign reserves had fi...
Egypt Parliament Preliminarily Approves Country's First Bankruptcy Law
1/9/2018 - The Egyptian parliament’s General Assembly gave preliminary approval to a law governing debt restructuring, preventive composition and bankruptcy, MP Haitham El-Hariri.

The law is expected to...
Egypt Pays Back $700 Million in Debt to Paris Club
1/9/2018 - The Central Bank of Egypt (CBE) paid back around $700 million in debt to the Paris Club this week, the CBE announced .

The CBE had made another payment to the Paris Club worth another $700 mi...
Egypt: CBE Warns Against Dealing in "Bitcoin"
1/10/2018 - The Central Bank of Egypt (CBE) has warned against dealing in Bitcoin for the risks that might result from dealing in such currency, as it is unstable and cannot be supervised.

In its stateme...
Egypt:"Trade Minister Announces Launching Expo Egypt Online Portal
Egypt: 1/14/2018 - The portal will be an electronic platform that includes studies and information about foreign markets and a virtual marketplace to connect exporters with importers.

Cairo- Minister of Trade a...
Egypt Starts to Bear Fruits of Projects Launched 4 Years Ago, Presidential Spokesman
1/15/2018 - Presidential spokesman Bassam Radi said the national mega projects that were launched four years ago are now bearing fruit.

The projects being opened today by President Abdel Fattah El Sisi ...
Egypt's Primary Budget Deficit Hits 10-Year Low in First Half of FY 2017-18
1/15/2018 - Egypt's primary budget deficit fell to 0.3 percent of GDP, recording EGP 14 billion in the first half of fiscal year 2017-18, down from 1.1 percent of GDP, or EGP 39 billion, in the same period during...
Egypt: SCA Head Probes with Chinese Delegation Investment Opportunities
Egypt: SCA Head Probes with Chinese Delegation Investment Opportunities 1/16/2018 - The Chairman of the Suez Canal Authority (SCA) Mohab Mamish discussed with a Chinese delegation investment opportunities in the Canal Zone.

During the meeting, Mamish underlined that Egypt p...
Egypt: Kabil Meted Representatives of Top Int'l Financial Institutions in Cairo
Egypt: Kabil Meted Representatives of Top Int'l Financial Institutions in Cairo 1/16/2018 - The economic reforms recently carried out by the government have rendered Egypt a more attractive investment destination.

Minister of Trade and Industry met , in his office in Cairo, with re...

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