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Financials and Investment News in Egypt

MF: Egypt's Economy Has 'Strong' Precautionary Reserves Against External Shocks
6/3/2018 - Egypt enjoys "strong" precautionary reserves that support its economy's capability to face external shocks, said International Monetary Fund's (IMF) Mission Chief for Egypt Subir Lall.

Lall t...
Egypt’s Q2 Foreign Direct Investment Slips 20% Yoy: CBE
6/3/2018 - Foreign direct investment (FDI) to Egypt has declined to $1.9 billion in the second quarter of fiscal year 2017/2018, down from $2.4 billion in the same period last year at a rate of 20.8%, the Centra...
Russia Gets The Go Ahead: New Industrial Zone To Bring Investment, Jobs And Technology To Egypt
6/3/2018 - After two years of deliberations, an agreement to establish a Russian industrial zone in Egypt was finally signed last week.

Established on an area of 5.25 million square metres in East Port ...
Foreign Direct Investments In Egypt Down 20.8%
6/3/2018 - -The volume of foreign direct investments in Egypt during the second quarter of the fiscal year 2017/2018 declined by 20.8% to reach 1.9 billion Dollars.

The Central Bank's monthly report sho...
Russia gets the go ahead: New industrial zone to bring investment, jobs and technology to Egypt
6/3/2018 - After two years of deliberations, an agreement to establish a Russian industrial zone in Egypt was finally signed last week.

Established on an area of 5.25 million square metres in East Port ...
Egypt’s Q2 Foreign Direct Investment Slips 20% Yoy: CBE
Egypt’s Q2 Foreign Direct Investment Slips 20% Yoy: CBE 6/3/2018 - Foreign direct investment (FDI) to Egypt has declined to $1.9 billion in the second quarter of fiscal year 2017/2018, down from $2.4 billion in the same period last year at a rate of 20.8%, the Centra...
Egypt's Treasury to Spend EGP 60 Billion on Raises in Pensions, Basic Salaries for State Employees
Egypt's Treasury to Spend EGP 60 Billion on Raises in Pensions, Basic Salaries for State Employees 6/4/2018 - Egypt’s Prime Minister Sherif Ismail said that the country’s public treasury will spend over EGP 60 billion to increase pensions and basic salaries for state employees.

In official statement...
Suez Canal to Achieve Revenues of USD 5.6 by June
Suez Canal to Achieve Revenues of USD 5.6 by June 6/4/2018 - Finance Minister Amr el Garhi asserted that the Suez Canal achieved revenues of about USD 5.1 billion until May, with expectations to hit USD 5.6 billion by June 30, 2018.

Also, the Suez Cana...
Parliamentary Committee Recommends Amendments to 2018/2019 Budget
6/4/2018 - A number of amendments to the state budget for the coming fiscal year 2018-2019 were suggested by the budget and planning committee in discussions in Egypt’s House of Representatives which started .
The Central Bank of Egypt: Foreign Currency Reserve Hit $44.138 Bln in May
The Central Bank of Egypt: Foreign Currency Reserve Hit $44.138 Bln in May 6/4/2018 - The Central Bank of Egypt has announced an increase in the foreign currency reserve by around $109 million to reach $44.138 billion by end of May. In April, the figure was $44.029 billion, according ...
Egypt's Non-Oil Business Activity Slows In May, PMI Shows
6/5/2018 - Egypt's non-oil private-sector business activity shrank in May amid contractions in new orders and outputs, a survey showed .

The Emirates NBD Egypt Purchasing Manager's Index (PMI) for the p...
Egyptian Stock Market Loses EGP 22 Bln in Tuesday Morning Trading
6/5/2018 - The Egyptian Stock Exchange opened in the red on Tuesday morning, losing around EGP 22 billion in market capital, recording EGP 906 billion total, driven by selling from foreign and Arab companies and...
50 ships transit Suez Canal
6/5/2018 - Fifty ships transited the Suez Canal on Monday 4/6/2018, with a total cargo of 2.8 million tons.

The south-bound convoy included 26 vessels carrying 1.5 million tons, while the north-bound co...
Housing, investment ministries sign cooperation protocol with Wb
6/5/2018 - Minister of Housing Dr Mostafa Madbouli and Minister of Investment Dr Sahar Nasr signed 4/6/2018 a cooperation protocol with World Bank (WB) officials on the second phase of the national program on s...
Trade Exchange Between KSA And Egypt Amounts $ 2.3 Billion
6/5/2018 - The Central Bank of Egypt has revealed that the volume of trade exchange between the Kingdom of Saudi Arabia and Egypt reached 2.3 billion dollars during the first half of the current fiscal year 2017...
Egypt’s Foreign Currency Reserve Increased By $106 Million in May
6/5/2018 - The Central Bank of Egypt (CBE) announced that the net foreign reserve increased to $44.139 billion at the end of May compared to $44.030 billion in April, making an increase of about $106 million.
Egypt to Begin Importing Rice after Slashing Its Own Cultivation
6/6/2018 - Egypt will begin importing rice, a crop it has typically had in surplus, to increase stocks and “control the market,” Prime Minister Sherif Ismail said , months after a campaign to cut local productio...
Egypt's New Fees for Mobile Phone Lines, Passports and Driving Licenses
6/6/2018 - Egypt's House of Representatives approved a draft law to amend existing and impose new fees for several licenses and services including acquiring mobile phones and residency permits, as well as drivi...
Egyptian Stock Market Indices Rise Following Tuesday's Plunge
6/6/2018 - The Egyptian Stock Exchange saw a rise in its indices morning's trading, following a sharp downturn.

The benchmark EGX30 index increased by 0.42 percent to hit 16,089 points. The small- and ...
Egypt Minister of Trade and Industry Discusses Future Projects with ADB Country Manager
Egypt Minister of Trade and Industry Discusses Future Projects with ADB Country Manager 6/6/2018 -  Minister of Trade and Industry Tarek Kabil met today with Malinne Blomberg, the new Egypt country manager of the African Development Bank (ADB), where they discussed the bank’s current and future pro...

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