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Financials and Investment News in Egypt

Egypt Sovereign Credit Rating Upgraded To B: S&P Global Ranking
5/12/2018 - Standard & Poor’s (S&P) global ranking lifted Egypt sovereign credit rating to B from B-, citing the country’s progress of implementing structural reforms, which have boosted investments and GDP growt...
Malaysian Trade Delegation Visits Madinah Chamber
5/12/2018 - The Deputy Chairman of the Chamber of Commerce and Industry of Madinah, Dr. Khaled Al-Duqul, received here the Consul of Malaysia in Jeddah Mohammed Fadhli Abu Hassan, and the accompanying delegation....
Minister: Egypt's Exports To Netherland Up 29.5% In 2017
5/12/2018 - Egypt's exports to the Netherlands made a notable increase of 29.5 percent during 2017, recording 269.7 million euros, in comparison with 208.2 million euros in 2016, Trade Minister Tarek Qabil said <...
Finland Seeks To Exchange Expertise With Egypt In Entrepreneurship Domain
5/12/2018 - Ambassador of Finland in Cairo Laura Kansikas-Debraise said that a seminar that was held on Saturday morning aims to exchange expertise, support entrepreneurship and transfer knowledge between Egypt a...
Egypt, Belarus Discuss Cooperation in Manufacturing Domain
5/14/2018 - Minister of State for Military Production Mohamed Saeed Assar and Belarus Ambassador to Egypt Sergei Rachkov discussed fostering cooperation in the manufacturing domain.

Assar underlined the...
Egypt to Pay off $850 Million in Debt to Foreign Oil Companies
Egypt to Pay off $850 Million in Debt to Foreign Oil Companies 5/14/2018 - Governor of Egypt's Central Bank Tarek Amer said that the country is expected to make an $850 million payment on its debts to foreign oil companies.

According to the latest records announced...
Egypt Says Seeks To Raise $1 Bln By Selling Stakes In Four-Six State Firms This Year
5/15/2018 - Egypt is seeking to float shares in four to six state-owned companies this year to raise up to 18 billion Egyptian pounds ($1 billion), the cabinet said in a statement.

The statement said tha...
Cabinet: Shares Of State-Owned Companies To Be Floated At ESX As Of June
Cabinet: Shares Of State-Owned Companies To Be Floated At ESX As Of June 5/15/2018 - Prime Minister Sherif Ismail has chaired the fourth meeting of the ministerial committee supervising the government's Initial Public Offerings (IPO) to review a report presented by the committee's rap...
Egypt: World Bank Delegation Praises Progress in Implementing Local Development Programs
5/16/2018 - A World Bank delegation, currently visiting Egypt, praised the progress reached in implementing the local development program and the role played by the Ministry of Local Development in leading work a...
Egyptian PM in Talks over Medical Tourism, Projects in Petroleum
Egyptian PM in Talks over Medical Tourism, Projects in Petroleum 5/16/2018 - Prime Minister Sherif Ismail held four meetings with the petroleum and environment ministers, the South Sinai governor and the chairman of Federation of Egyptian Chambers of Commerce.

The mee...
Central Bank of Egypt Expected to Keep Interest Rates Unchanged
Central Bank of Egypt Expected to Keep Interest Rates Unchanged 5/16/2018 - The Central Bank of Egypt will most likely keep interest rates unchanged during its upcoming Monetary Policy Committee (MPC) meeting on Thursday, a number of economists have said.

Deposit and...
Egypt's Sisi Promises Five-Year Tax Exemption for Smes That Register in Formal Economy
Egypt's Sisi Promises Five-Year Tax Exemption for Smes That Register in Formal Economy 5/16/2018 - Egypt's President Abdel-Fattah El-Sisi announced a five-year tax exemption for small and medium-sized enterprises (SMEs) that register their business in the formal economy.

El-Sisi's made th...
Egypt's GDP Growth For Q3 Of 2017/18 Fiscal Year At 5.4 Pct
5/17/2018 -  Egypt’s GDP growth for the third quarter of the 2017/18 fiscal year rose to 5.4 percent from 4.3 in the same period last year, the country’s planning ministry said in a statement .

Egypt’s f...
Egypt, UK Consider Future Of Economic Relations Ahead Of Brexit: Min
5/17/2018 - Minister of Trade and Industry Tareq Qabil said that Cairo is in talks with British government officials to coordinate stances on future of bilateral economic relations in light of the UK’s departure...
IMF Staff Team and Egyptian Officials Reach Staff Agreement on 3rd Egypt Economic Reform Program
5/18/2018 - The International Monetary Fund (IMF) issued a press release on Thursday announcing that the IMF staff team and the Egyptian authorities have reached a staff-level agreement on the third review of Egy...
Egypt's Banque Misr Hires Citi for $500 Million Loan
5/18/2018 - Banque Misr, Egypt’s second largest bank, has mandated Citigroup to arrange a $500 million syndicated loan, banking sources said, the latest sign of a pick-up in interest among international ban...
Saudi Company to Carry Out Giant Date Project in Egypt
Saudi Company to Carry Out Giant Date Project in Egypt 5/18/2018 - A big Saudi company working in the agricultural field is set to carry out a giant project to cultivate and produce dates and olives in Egypt with a total capital of EGP 2 billion, Trade and Industry M...
Chairman of the Suez Canal Authority Witnesses Signing of Maritime Agreement between Two Companies
5/18/2018 - Chairman of the Suez Canal Authority Mohab Mamish witnessed the signing of a cooperation agreement between El Timsah Shipbuilding Company and Canal Company for Mooring and Lights to launch a joint pro...
The Central Bank of Egypt Keeps Interest Rates on Deposits, Loans Unchanged
5/18/2018 - The Central Bank of Egypt decided to stabilize the interest rate for one night on deposits and loans at 16.75 and 17.75 percent respectively.

The decision was made by the CBE Monetary Policy...
Upgrade of Egypt's Ranking Raises Confidence in National Economy
Upgrade of Egypt's Ranking Raises Confidence in National Economy 5/18/2018 - Finance Minister Amr el Garhi posted Prime Minister Sherif Ismail on the outcome of upgrading Egypt's credit rating by Standard & Poor's global ranking from B- to B.

At a press conference, Ga...

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