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Financials and Investment News in Egypt

Egypt To Continue Maintaining Customs Exchange Rate At EGP 16 Per Dollar
7/31/2018 - Egypt will continue to maintain its current customs exchange rate of EGP 16 per $1, effective starting August until the end of the month, Finance Minister Mohamed Maait said.

Maait said in pr...
Planning Ministry Publishes Infographic On 2017-2018 Economic Growth Rate
8/1/2018 - The Ministry of Planning published an infographic on its Facebook page expounding economic and social performance indicators during the 2017-2018 fiscal year.

The infographic showed that the ...
Major US Companies Seek Investing in Egypt
8/1/2018 - Minister of Trade and Industry Amr Nassar said 1/8/2018 that a delegation of major US companies will visit Cairo in October this year to get acquainted with investment opportunities in the country.<...
Cabinet Convenes To Discuss Key Issues
8/1/2018 - The cabinet, under Prime Minister Moustafa Madbouli, started its weekly meeting to discuss a number of political, economic and social files.

The cabinet will discuss a number of reports on t...
Egypt to Host Annual Meetings of African Caucus of WB, IMF
8/3/2018 - Egypt is set to host the annual meetings of the African Caucus of the World Bank (WB) Group and International Monetary Fund (IMF) under the patronage of Prime Minister Moustafa Madbouli.

The ...
Egypt to Continue Offering Know-How for South Sudan
8/3/2018 - Water Resources and Irrigation Minister Mohammed Abdel Aati stressed that Egypt will continue sharing its expertise to support the people of South Sudan in achieving sustainable development in the wat...
Egypt: International Labor Organization Delegation Discuss Sustaining Competitiveness of Firms
8/3/2018 - Trade and Industry Minister Amr Nassar had talks with a visiting delegation of the International Labor Organization (ILO), led by Karen Curtis, on boosting bilateral cooperation in sustaining competit...
Public Business Sector, Agriculture Ministers Mull Means to Develop Cotton Planting
8/3/2018 - Minister of Public Business Sector Hisham Tawfiq discussed with Minister of Agriculture Ezziddin Abu Steit major problems and challenges that face the spinning and weaving industry, mainly the cotton ...
Egypt, Italy Probe Coop. in Railways, Metro
8/3/2018 - Transport Minister Hisham Arafat discussed with Italian Ambassador to Egypt Giampaolo Cantini cooperation in the sectors of railways and Metro.

"Egypt's transport sector is witnessing a maj...
Egyptian PM: Gov't Attaches Importance to 'Magra El-Oyoun' Development Project
8/3/2018 - Prime Minister Moustafa Madbouli asserted the government's interest in implementing "Magra El-Oyoun" development project.

This came at a meeting with Finance Minister Mohamed Maeit, Trade Min...
49 Ships Transit Suez Canal
8/3/2018 - Forty-nine ships transited the Suez Canal, with a total cargo of 3.3 million tons.

The north-bound convoy included 26 vessels carrying two million tons, while the south-bound convoy included ...
EGP 4.3 Billion Expected to Pour Into State Budget under "Special Funds"Bill
EGP 4.3 Billion Expected to Pour Into State Budget under 8/3/2018 - The Finance Ministry underlined the importance of a bill on allocating a percentage of the revenues of “special funds” to go into the general treasury.

The proposal, which is considered the m...
US Senator Sanders Lauds Solar Energy Projects in Egypt
8/3/2018 - US Senator Bernie Sanders hailed immense solar energy projects implemented by Egypt.

In a post on his official Facebook page, Sanders said “While (US President Donald) Trump is ending Americ...
Egypt's Boerse Gains 21.9 Billion Pounds in Week
Egypt's Boerse Gains 21.9 Billion Pounds in Week 8/3/2018 - The Egyptian Exchange (EGX) gained 21.9 billion pounds this week as the market capital went up 2.6 percent to 880.3 billion pounds compared to 858.4 billion pounds in the previous week.

The E...
Egypt, China Sign Agreement worth EGP 179 Billion on Projects in New Administrative Capital
8/4/2018 - Egypt and China have signed an agreement worth EGP 179 billion for mega projects in the newly constructed Egyptian administrative capital in cooperation with the private sector Prime Minister Mosatafa...
The Egyptian global depository receipts in London Show Mixed Performance
8/4/2018 - The Egyptian global depository receipts (GDRs) traded on London Stock Exchange showed mixed performance at the close of trading.

The GDRs of the Commercial International Bank (CIB) went up by...
Egypt: Two Committees Formed to Help Remove Obstacles Facing Investors
Egypt: Two Committees Formed to Help Remove Obstacles Facing Investors 8/4/2018 - Minister of Investment and International Cooperation Sahar Nasr said that she has formed two joint committees from the Ministry of Finance and the Ministry of Trade and Industry for coordination to r...
Trade Envoy: UK Companies Seek to Share Experience with Egyptian Gov't
8/4/2018 - UK trade envoy to Egypt Sir Jeffrey Donaldson said British companies representatives, who accompanied him during his recent visit to Cairo, are seeking an opportunity to share their experience with t...
Egypt to Conclude Economic Reform Program by 2019
8/5/2018 - The Executive Director of the International Monetary Fund (IMF) Hazim al-Beblawi announced on Saturday that the current fiscal year of 2018/2019 would see the reform program completed after the three ...
The World Bank, IMF, IFC Hail Egypt’s Economic Reform Program
8/5/2018 - The World Bank (WB), the International Monetary Fund (IMF) and the International Finance Corporation (IFC) have hailed economic reforms carried out by Egypt to improve its investment climate through r...

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