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Financials and Investment News in Egypt

Egyptian Electricity Holding Signs $900 Million Syndicated Loan
6/13/2018 - State-owned Egyptian Electricity Holding Company (EEHC) has completed a $900 million syndicated loan, banking sources close to the matter said.

The debt facility, guaranteed by the Ministry o...
Sisi Orders Taking All Needed Measures to Improve Economic Indices
Sisi Orders Taking All Needed Measures to Improve Economic Indices 6/14/2018 - President Abdel Fattah El Sisi has stressed the importance of taking all needed measures to improve Egypt's economic indices and maintain its monetary stability.

During a meeting with Governo...
Egypt's New Cuts to Subsidies Allows the Ministry of Petroleum to Cover 75 To 80 Percent of Costs
6/16/2018 - Fuel hike is set to save EGP 50 billion for the state, and to reduce fuel consumption between three to five percent, according to Egypt's petroleum ministry spokesperson Hamdy Abdel Aziz.

The...
Egypt's Finance Ministry Dispenses EGP 1.5 Bn to Fund Energy-Saving Street-Lighting Project
6/17/2018 - Egypt’s finance ministry dispensed EGP 1.5 billion for the national project to install energy-saving bulbs on street lamposts, the ministry announced .

"The project to upgrade the street ligh...
Egypt's Suez Canal Reports Record High $5.585 Billion Annual Revenue
6/17/2018 - Egypt's revenue from the Suez Canal for the 2017-2018 financial year rose 11.5 percent to a record high $5.585 billion (4.20 billion pounds), the canal authority said in a statement on its website .
Egypt Hikes Fuel Prices
6/17/2018 - Egypt has raised gasoline prices, the oil ministry said , according to Reuters. The oil ministry said the price for 95 octane gasoline had been increased to 7.75 Egyptian pounds a litre from 6.60 pou...
After Fuel Prices Increase, Prime Minister Announces New Transportation Tariff
6/17/2018 - Prime Minister Mostafa Madbouli held a lengthy meeting via video conference with the governors from the Cabinet Information Center operations room to check the availability of petroleum products and ...
Suez Canal Revenues Rise to $503 Million in May: Canal Authority Head
6/17/2018 - Egypt's Suez Canal revenues rose to $503.13 million in May, up from $479.3 million in April, according to figures released by the head of the Suez Canal Authority, Mohab Memish.

Memish said r...
Egypt's Economic Reform Program More Than 85% Complete
6/18/2018 - More than 85 percent of Egypt's ongoing economic reform programme has been put into effect so far, newly-appointed Finance Minister Mohamed Maeet said in an interview with Al-Ahram Arabic newspaper ho...
Suez Canal Posts Record $5.585 Billion
6/18/2018 - Egypt’s revenue from the Suez Canal for the 2017-2018 financial year soared by 11.5 per cent to a record high $5.585 billion during the current fiscal year 2017-2018, which runs from July 1 to the end...
Egypt To Receive Fourth Tranche Of IMF Loan in July
6/18/2018 - Egypt is set to receive the fourth tranche of an International Monetary Fund (IMF) loan package by the end of July, newly appointed Finance Minister Mohamed Moeet said .

In statements to the ...
Egypt's Agricultural Exports Up 13% in 2017/18 Season
6/18/2018 - Egypt’s agricultural exports rose by 13 percent between September 2017 and April 2018 to reach 3.165 million tonnes, up from 2.802 million tonnes during the same period last year.

In a monthl...
Egypt: Government to Receive $2 Billion from IMF in July
6/19/2018 - Minister of Finance Mohammed Maet announced that Egypt would receive the fourth tranche of the International Monetary Fund’s (IMF) loan valued at US $2 billion in late July 2018.

Maet added ...
Egypt Minister of Trade and Industry Discusses Cooperation with German Ambassador
6/21/2018 - Minister of Trade and Industry Amr Nassar met with Julius Georg Luy, the German ambassador in Egypt, to discuss the future of economic cooperation between Egypt and Germany in the trade and industrial...
National Security, Price Control, Economic Development Are Top Priorities for Egypt's New Cabinet
6/21/2018 - Egypt's newly sworn-in Cabinet is adamant to continue reforms, development programmes, and national projects, Prime Minister Mostafa Madbouly said at the Cabinet’s first meeting according to a Cabinet...
Egypt Continues Economic Reforms with Cuts to Fuel Subsidies
6/22/2018 - Despite social and other challenges, the government is pressing ahead with its economic reform programme Whoever said that the fasting month of Ramadan and the Eid are quiet was quite mistaken. This ...
Egypt to Export Citrus, Grapes to Uruguay
6/22/2018 - Egypt has opened two markets for the country’s agricultural exports of citrus and grapes in Uruguay, Minister of Agriculture and Land Reclamation Ezz el Din Abu Steit announced.

The process ...
Egyptian Ambassador, Japan's Toyota Officials Discuss Beefing Up Production in Egyptian Market
6/22/2018 - Egyptian Ambassador to Japan Ayman Kamel paid a visit to Japan's Toyota Motor Corporation factory and headquarters, where he had talks with the company's senior officials on increasing Toyota cars man...
Gold Prices Go Down In Trading
6/22/2018 - Gold prices went down at the end of trading to register EGP 642 for one gram of 21 carat gold, EGP 550 for each gram of 18 carat gold and EGP 733 for each gram of 24 carat gold.

Decline in t...
Central Bank of Egypt, MCIT to Develop Financial Inclusion Plan
Central Bank of Egypt, MCIT to Develop Financial Inclusion Plan 6/23/2018 - Governor of the Central Bank of Egypt (CBE) Tarek Amer said an agreement has been reached with the Ministry of Communications and Information Technology (MCIT) to develop an integrated plan aimed at a...

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