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Financials and Investment News in Egypt

Egypt: Fitch Revises Egypt's Outlook to Positive
1/17/2018 - Fitch Ratings has revised the Outlook on Egypt's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Positive from Stable and affirmed the IDR at 'B'.

In a report released Fitch said t...
Egypt: External Debt Is $79 Bn, Says Finance Minister after Financial Outlook Improves
1/17/2018 - Minister of Finance Amr al-Jarhi stated that Egypt’s external debt stood at $79 billion at the end of 2017, not $100 billion – the figure claimed by Fitch Ratings Inc., one of the three biggest credit...
Egypt: Sisi Calls on International Investment Funds to Contribute to Egypt's Development Efforts
Egypt: Sisi Calls on International Investment Funds to Contribute to Egypt's Development Efforts 1/17/2018 - President Abdel Fattah El Sisi has said he was looking forward to the contribution of regional and international funds in pushing forward economic development efforts in Egypt.

Sisi's stateme...
Egypt, Ethiopia to Set Up Joint Investment Council
Egypt, Ethiopia to Set Up Joint Investment Council 1/18/2018 - Minister of Investment and International Cooperation Sahar Nasr reached an agreement with her Ethiopian counterpart Fitsum Arega to set up a joint investment council.

The council will group ...
Egypt Sign Agreement to Bolster Sustainable Economic Development
1/18/2018 - The European Union (EU) and Egypt have announced the signature of two financing agreements that would foster inclusiveness and sustainable social and economic development in Egypt, the EU delegation t...
Egypt: Assar, Italian Ambassador Discuss Industrial Cooperation
1/20/2018 - Minister of Military Production Mohamed el Assar met with Giampaolo Cantini, the Italian Ambassador here, to discuss industrial cooperation between Cairo and Rome.

The meeting took up cooper...
Egypt, Germany Probe Fostering Agricultural Cooperation
1/20/2018 - Minister of Agriculture and Land Reclamation Abdel Mon’em el Banna said that Egypt’s political leadership and government are keen to encourage investment, particularly in the agricultural field.
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Egypt: Investment Ministry Targets Investments worth LE1, 460 Billion
1/21/2018 - The Ministry of Investment and International Cooperation unveiled its investment plan till 2022.

In a report, the ministry said it eyes private investments worth LE1,460 billion by 2020, rep...
Egypt: Self-Sufficiency Rates of Wheat, Meat, Rice Decline
1/21/2018 - The Central Agency for Public Mobilization and Statistics (CAPMAS) stated that Egypt’s self-sufficiency rate of wheat went down by 2.3 percent in 2016, accounting for 47.7 percent, with an average of...
Egypt: Trade, Industry Minister Accompanies Sisi in Visit to Beni Suef
Egypt: Trade, Industry Minister Accompanies Sisi in Visit to Beni Suef 1/21/2018 - There are around 2,973 factories in Upper Egypt, with an investment value of EGP 75bln and production capacity worth EGP 119bln.

President Abdel Fattah al-Sisi, accompanied by Minister of Tra...
Egypt Targeting 8-10 Flotation’s of State Firms over 18 Months
Egypt Targeting 8-10 Flotation’s of State Firms over 18 Months 1/21/2018 - Egypt is looking to offer shares in eight to 10 state companies on the stock exchange over the next 18 months, Finance Minister Amr El-Garhy told Reuters as part of a drive to attract foreign investor...
Egypt Pays $200 Million in Foreign Oil Company Arrears in January
1/21/2018 - Egypt’s Finance Minister Amr El-Garhy said in statements to Reuters the country had paid $200 million in arrears owed to foreign oil companies in January and would pay another $550 million in Februar...
Egypt: Implementation of Projects in Upper Egypt Worth LE 8.2 Billion
1/22/2018 - Minister of Transport Hesham Arafat said the projects implemented in Upper Egypt between 2014 and 2017 cost about EGP 8.2 billion.

In press statements, the minister said that President Abdel ...
Egypt: Finance Minister Holds Meeting with EFG-Hermes Investors to Demonstrate
Egypt: Finance Minister Holds Meeting with EFG-Hermes Investors to Demonstrate 1/22/2018 - Finance Minister, Mr. Amr Al-Garhy, held a meeting with delegates of EFG-Hermes group taking part in the second annual running of "EFG-Hermes Egypt Day Conference ".

The meeting aimed at bui...
Egypt: Cabinet Panel Holds Meeting to Mull Set of Economic Files
Egypt: Cabinet Panel Holds Meeting to Mull Set of Economic Files 1/23/2018 - The economic ministerial committee convened under acting Prime Minister and Minister of Housing and Urban Communities Mostafa Madbouli to discuss several economic files.

The ministerial panel...
Egypt: 50 Turkish, Qatari Investors to Participate in Egypt Investment Forum
1/23/2018 - The Federation of Egyptian Chambers of Commerce (FEDCOC) said that a delegation of 50 investors from Turkey and Qatar will participate in the third Egypt Investment Forum which will be held in Cairo ...
Egypt’s Exports to Russia Hit Record High Topping $500m for First Time
Egypt’s Exports to Russia Hit Record High Topping $500m for First Time 1/23/2018 - Exports to Russia stood at $464.8mln in 2017, up 32.8% from $350mln a year earlier.

Based on the latest report by the Egyptian commercial office in Moscow, Minister of Trade and Industry Tar...
Egypt's GDP Growth Exceeded Expectations: IMF
1/24/2018 - The International Monetary Fund (IMF) said that Egypt's economic reform program is on the right path, adding that the economic growth is healing and inflation rate decreased.

In a statement,...
Egypt's Non-Oil Exports to US Hit Dlrs 1.3bn in 11 Months
Egypt's Non-Oil Exports to US Hit Dlrs 1.3bn in 11 Months 1/24/2018 - Minister of Trade and Industry Tarek Qabil disclosed a sizable increase in Egypt's non-petroleum exports to US markets from January through November 2017, reaching around dlrs 1.346 billion, compared ...
Egypt, Ghana FMs Discuss Bilateral Ties, Economic Cooperation
1/27/2018 - Foreign Minister Sameh Shoukry said Egypt is ready to provide expertise in the field of training to Ghanaian cadres through the Egyptian Agency for Partnership for Development.

Shoukry was sp...

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