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Financials and Investment News in Egypt

Egypt Discussing Setting up Sovereign Wealth Fund to Manage State Companies
Egypt Discussing Setting up Sovereign Wealth Fund to Manage State Companies 3/5/2018 - Egypt is discussing the setting up of a sovereign wealth fund to manage state companies as it plans to list them on the stock exchange, the minister for public enterprise, Khaled Badawi.

The ...
Egypt: Japanese Ambassador, JICA Delegation Inspect New Terminal Project at Borg El-Arab Airport
3/5/2018 - Japanese ambassador to Egypt Takehiro Kagawa and his accompanying delegation representing the Japan International Cooperation Agency (JICA) visited Borg El-Arab airport to inspect the new passenger t...
Egypt's President Sisi Takes Saudi Crown Prince on a Tour of Suez Canal Projects
Egypt's President Sisi Takes Saudi Crown Prince on a Tour of Suez Canal Projects 3/5/2018 - Egypt’s President Abdel-Fatah El-Sisi provided Saudi Crown Prince Mohammed bin Salman with an inspection tour of several national projects on the Suez Canal highlighting works completed during the Egy...
Dollar Rate Set at 17.5 Egyptian Pounds in Egypt Budget
3/6/2018 - Egypt's 2018-19 government budget will assume an exchange rate of 17.5 Egyptian pounds per dollar, three government sources said .
The rate the sources cited would represent a slight strengt...
Agreement on Setting up Wind Farm in Gabal el Zayt Signed
Agreement on Setting up Wind Farm in Gabal el Zayt Signed 3/6/2018 - Prime Minister Sherif Ismail attended the signing ceremony of an agreement on setting up a wind farm in Gabal el Zayt area in the Gulf of Suez region.

The agreement is signed by the Egyptian ...
Tarek Qabil Probes with Saudi Minister Trade, Investment Relations
Tarek  Qabil Probes with Saudi Minister Trade, Investment Relations 3/6/2018 - Minister of Trade and Industry Tarek Qabil has asserted that Egypt and Saudi Arabia are bound by strategic ties based on deep-rooted economic, political and social relations.

In a meeting wi...
Sherif Ismail Finance Ministry Officials Meet to Discuss New Budget
Sherif Ismail Finance Ministry Officials Meet to Discuss New Budget 3/6/2018 - Prime Minister Sherif Ismail discussed economic indicators for the current fiscal year and the new budget for the 2018/2019 fiscal year with Finance Minister Amr al-Garhy, Deputy Finance Minister for ...
Egypt's Ministry of Finance Dismisses Reports of Exchange Rate EGP 17.5 To 1 USD
Egypt's Ministry of Finance Dismisses Reports of Exchange Rate EGP 17.5 To 1 USD 3/6/2018 - Sources at the Egyptian Ministry of Finance denied that the government has fixed the exchange rate for EGP to USD in the country’s fiscal year 2018/2019 budget.

Reuters previously quoted thre...
Egypt Parliament Discusses Crisis of National Cement Company
3/6/2018 - Egypt's House of Representatives discussed ways to alleviate the crisis at the state-owned National Cement Company, as a worker sit-in entered its seventh day.

At least 2,000 workers in the c...
Tarek Kabil Opens SIA 2018 in Cairo
 Tarek Kabil Opens SIA 2018 in Cairo 3/6/2018 - Egypt has made much headway in pursuing sustainable development. Minister of Trade and Industry Tarek Kabil inaugurated the Sustainable Industrial Areas conference "SIA 2018," held for the first tim...
EGX gains EGP 8.1 bn During Morning Trading
EGX gains EGP 8.1 bn During Morning Trading 3/6/2018 - The Egyptian Exchange (EGX) indexes posted collective gains at the beginning of trading, supported by Arab and foreign institutions and investment funds' purchases.

The market capital gained ...
Egypt Hits Record High Abu Dhabi Down
3/6/2018 - Gulf stocks were mixed , with the Saudi market up on steady oil prices and Abu Dhabi dragged down by First Abu Dhabi Bank’s stock going ex-dividend.

Outside of the Gulf, Egypt’s index continu...
Egypt Govt to Raise Dollar Price in New Budget
Egypt Govt to Raise Dollar Price in New Budget 3/7/2018 - Three government sources anonymously told that the Egyptian government will increase the US dollar exchange rate in the new state budget for the 2018/2019 fiscal year, with the price of the US dollar ...
Egypt Receives Last $1.15 Billion from World Bank Series of Loans to Support Economic Reform
Egypt Receives Last $1.15 Billion from World Bank Series of Loans to Support Economic Reform 3/7/2018 - Egypt received the third loan worth $1.15 billion from the World Bank, the last in the series of the "Fiscal Consolidation, Sustainable Energy, and Competitiveness Development Policy Financing loans”...
Tarek Kabil Meets Head of Kuwaiti Side on Egypt-Kuwait Cooperation Council
Tarek Kabil Meets Head of Kuwaiti Side on Egypt-Kuwait Cooperation Council 3/7/2018 - Preparations are afoot for Egypt-Kuwait Cooperation Forum “Partnership and Friendship,” to be held in Kuwait by the end of 2018.

Minister of Trade and Industry Tarek Kabil met with Mohammed ...
Tarek Kabil Underlined Key Role of Private Sector in Realizing Comprehensive Economic Development
Tarek Kabil Underlined Key Role of Private Sector in Realizing Comprehensive Economic Development 3/7/2018 - Trade and Industry Minister Tareq Qabil underlined the importance of promoting the private sector's role in implementing all-out economic development plans.He made the remarks during the inauguration...
Sahar Nasr Opens EGX Trading Session
Sahar Nasr Opens EGX Trading Session 3/8/2018 -  Investment and International Cooperation Minister Sahar Nasr opened , a trading session of the Egyptian Exchange (EGX) to mark the International Women's Day (IWD).

The ceremony was organize...
Egypt Founding Member of International Solar Alliance
3/10/2018 - Electricity Minister Mohamed Shaker said that Egypt has become a founding member of the International Solar Alliance (ISA), due to its rich renewable energy resources, especially solar energy and its...
Sisi Tells Govt to Continue Economic Reforms
Sisi Tells Govt to Continue Economic Reforms 3/10/2018 - Egypt's President Abdel-Fattah El-Sisi urged the government to push ahead with the country’s economic reform programme, Initial Public Offerings (IPO) of government-owned companies, as well as increas...
Egypt’s Trade Deficit with Turkey Fell 72% to reach $360 Million in 2017
Egypt’s Trade Deficit with Turkey Fell 72% to reach $360 Million in 2017 3/11/2018 - Minister of Trade and Industry Tarek Kabil said that Egypt’s exports to Turkey, the country’s second top importer after the UAE, witnessed an unprecedented rise in 2017, hitting $1.998 billion, compar...

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