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Financials and Investment News in Egypt

Egypt Finance Ministry Extends Deadline for Payment of Real Estate Tax
8/9/2018 - Egypt's Minister of Finance Mohamed Maeet has extended the deadline for the payment of real estate taxes without late fees until 15 October, a statement by the ministry announced .

The minist...
Egypt, Serbia Discuss Boosting Cooperation
8/10/2018 - Egyptian Ambassador in Belgrade Amr Gewaili and Serbian Prime Minister Ana Brnabic discussed boosting the bilateral ties, especially in the economic domain.

The meeting comes as part of the m...
Egypt's Bourse Gains EGP 5.4 Bn in Week
Egypt's Bourse Gains EGP 5.4 Bn in Week 8/10/2018 - The Egyptian Exchange (EGX) gained EGP 5.4 billion this week as the market capital went up 0.6 percent to reach EGP 885.7 billion compared to 880.3 billion pounds in the previous week.

The EG...
Investment, Trade Ministers Meet With Egyptian-Chinese Business Council
Investment, Trade Ministers Meet With Egyptian-Chinese Business Council 8/10/2018 - Investment and International Cooperation Minister Sahar Nasr and Amr Nassar, the Trade and Industry Minister, have held a meeting with a delegation of the Egyptian-Chinese Business Council, led by Ahm...
First Unified African Central Bank to Be Established By 2043
8/10/2018 - Governor of the Central Bank of Egypt (CBE) Tarek Amer said that the first unified African central bank will be established by 2043 with the issuance of a unified African currency.

The move ...
Egypt PM Urges Ministerial Economic Committee to Reduce Public Debt
8/10/2018 - Prime Minister Mostafa Madbouli led a ministerial economic committee meeting to discuss Egypt's public debt.

Investment Minister Sahar Nasr, Planning Minister Hala el Saeed, Finance Minister...
Reports on Directing Banks to Freeze Deposits for Real Estate Tax Baseless
8/10/2018 - Vice President of Council of State and legal adviser of the Central Bank of Egypt (CBE) Tamer el Daqaq dismissed reports claiming that the banks were directed to freeze clients' deposits for the purp...
Egypt's Real Estate Tax Countdown Begins
8/10/2018 - The finance ministry extended the deadline to pay the real estate tax from 15 Aug to 15 Oct to alleviate crowding at tax offices.

Owners of residential and commercial property in Egypt have ...
Breaking Records on the Suez Canal
8/10/2018 - The Suez Canal has achieved record revenues since the inauguration of the New Canal three years ago, according to Chairman Mamish Chairman of the Suez Canal Authority (SCA) Mohab Mamish said this wee...
Minister: Investment in Citizen Is Among Government's Priorities
8/11/2018 - Minister of Investment and International Cooperation Sahar Nasr said the government will achieve development goals via partnership with the private sector and civil society organizations.

In...
The Egyptian Global Depository Receipts Traded on London Stock Exchange Went Down
8/11/2018 - The Egyptian global depository receipts (GDRs) traded on London Stock Exchange (LSE) went down at the close of trading.

The GDRs of the Commercial International Bank (CIB) dropped by 3.9% to...
Vehicles, Spare Parts worth EGP 3.5 Billion Cleared From Alexandria Customs in July
8/11/2018 - The total value of vehicles and spare parts cleared from Alexandria customs in July hit EGP 3.5 billion, The Finance Ministry said in a statement.

Up to EGP 1.1 billion were collected as taxe...
Egypt, Tunisia To Set Up Coordination Council To Increase Investment Cooperation
8/12/2018 - Minister of Investment and International Cooperation Sahar Nasr said Egypt is seeking to up Tunisian investments, which hit dlrs 802 million in 2018, pressing the need for furthering joint investments...
Promising Investment Opportunities in 4 Major Projects in 10th of Ramadan City
8/13/2018 - Prime Minister Moustafa Madbouli said there are ample promising investment opportunities in four major projects in Tenth of Ramadan City. The four projects are the Regional Services Center, the Know...
Egypt Strategic Sugar Reserves at 6 Months
8/13/2018 - Egypt has sufficient strategic sugar reserves to last six months, the supply ministry said without detailing the size of its reserves. The country expects to produce about 2.3 million tonnes of sugar...
Egypt, China inK $45 Mln Deal to Establish 'Egypt Sat-2'
Egypt, China inK $45 Mln Deal to Establish 'Egypt Sat-2' 8/13/2018 - Egypt and China signed a $45 million grant to implement the new satellite "Egypt Sat 2'' on Monday, according to an official statement by the Ministry of Investment and International Cooperation. The...
PM Reviews Strategy To Establish Logistics Zones Across Egypt
8/14/2018 - Prime Minister Moustafa Madbouli chaired a meeting to review a strategy to establish logistics zones across Egypt.

It is important to expand logistics areas in governorates, Madbouli said, n...
Egypt's Stock Exchange Loses EGP 7 Bln, All Indexes Fall Back
8/14/2018 - The Egyptian Exchange indexes posted collective losses at the close of trading, prompted by selling operations by foreign institutions and investment funds besides Egyptian investors, in the wake of ...
IFC Pledges Over $2 Bln Financing For Egypt's Private Sector, Small Businesses By 2019
8/14/2018 - The World Bank's International Finance Corporation said it is keen to provide more than the pledged amount of $2 billion in financing to the Egyptian private sector by 2019, targeted primarily at ent...
Sisi Opens Two Cement & Granite Production Lines in El Arish Via Video Conference
Sisi Opens Two Cement & Granite Production Lines in El Arish Via Video Conference 8/15/2018 - President Abdel Fattah El Sisi inaugurated via video conference two production lines for cement and granite production in El Arish city in North Sinai.

North Sinai Governor Abdel Fattah Harh...

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