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Financials and Investment News in Egypt

Govt Attaches Importance to Renovating Sour Magra El Oyoun
8/15/2018 - Prime Minister Moustafa Madbouli said that the government attaches great importance to renovating Sour Magra el Oyoun area.

The government aims at finishing the area's renovation project as s...
Sisi Inaugurates National Projects in Beni Suef
Sisi Inaugurates National Projects in Beni Suef 8/15/2018 - President Abdel Fattah El Sisi attended the inauguration ceremony of a number of national projects in the Upper Egyptian governorate of Beni Suef.

These projects include an industrial complex...
1.6-Billion-Dollar Basic Commodities Imported From March till July
8/17/2018 - A report by the Customs Authority showed that basic commodities worth dlrs 1.6 billion were imported for local consumption from March till July of 2018.

The report, handed to Finance Minister...
The Central Bank of Egypt Keeps Interest Rates Unchanged
The Central Bank of Egypt Keeps Interest Rates Unchanged 8/17/2018 - The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) kept interest rates unchanged for the third time this year, setting the overnight deposit rate and the overnight lending rate at...
Egypt, Sudan Probe Cementing Industrial Cooperation
8/17/2018 - Sudanese Minister of Industry Musa Karama discussed with Egyptian Ambassador in Khartoum Osama Shaltout means of boosting industrial cooperation between the two countries in addition to accelerating ...
3 New Investment Projects to Be Established in Ismailia's Investment Free Zone
8/17/2018 - The board of directors of the General Authority for Investment (GAFI) in Ismailia governorate approved the establishment of three new investment projects in the general investment free zone at a cost...
Egypt, Malaysia Sign Cooperation Protocol on Fish Production Increase
8/24/2018 - Chairman of the National Research Center Ashraf Shaalan signed a cooperation protocol with Director General for Malaysia's WorldFish Center Gareth Johnstone to increase the production of Tilapia.
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Legal, Economic Experts to Develop Statute of Egypt's Sovereign Fund
8/24/2018 - Planning Minister Hala el Saeid said that a committee had been formed to work on developing the statute of Egypt's sovereign fund as well as determining the rules by which the fund staff would be sele...
Navigation Movement at Suez Canal Hits Record High
8/25/2018 - Navigation movement at the Suez Canal hit a record high , with 49 ships transiting the international waterway carrying 4.2 million tonnes, Head of the Suez Canal Authority (SCA) Mohab Mamish said in a...
Egypt Upgrading 156 Railway Stations at EGP 1 Bln
8/25/2018 - Egypt's Railway Authority is currently upgrading and maintaining 156 train stations at a total cost of about EGP 1 billion "to improve the services provided to train passengers," the Ministry of Trans...
Communications Min. Urges Implementation Of National E-Commerce Strategy
8/25/2018 - Communications and Information Technology Minister Amr Talaat stressed Friday the importance of starting to prepare an e-commerce law, as well as implementing projects related to the National E-commer...
ENR Deputy Chairman: 24 Stations to Be Upgraded at EGP 67 Million Costs
8/25/2018 - Deputy Chairman of Egyptian National Railways (ENR) for Infrastructure Sector Magdy el Sabag inspected Friday train stations in Upper Egypt, including Samalut station and a number of level crossings.<...
Egypt-China Trade Hits $ 7.5 Bln in 7 Months
8/26/2018 - Trade exchange between Egypt and China surged up to 24 percent in the first seven months of 2018 compared to the same period in 2017, according to Chinese customs data reported by MENA .

The ...
PM Reviews Financial Supervisory Authority's Role To Achieve Egypt's Vision 2030
8/26/2018 - Prime Minister Mostafa Madbouli met with Head of Financial Supervisory Authority (FSA) Mohamed Omran to discuss the role of the FSA in contributing to achieving Egypt's vision 2030 by reviewing the mo...
Egypt-EU Trade Hits $13.4bln First 6 Months of 2018
8/27/2018 - Bilateral trade between Egypt and the European Union recorded $13.4 billion during the first six months of 2018, the Egyptian trade and industry minister Amr Nassar stated.

European investmen...
Egypt Working on Expanding Power Grid Projects in Africa
8/27/2018 - Egypt is exerting tremendous efforts at all levels to partake in power grid projects carried out in the region to be linked to neighboring countries to its east and west; in order to become a regional...
Egypt's Medium-Term Development Plan Aims at Curbing Population Growth to 2.1%, Inflation Rate
8/28/2018 - Egypt's Minister of Planning Hala el Saaed said that the 2018-2022 medium-term sustainable development plan aimed at reducing population growth to 2.1 percent and inflation rate to 8.5 percent.
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Egyptian-Vietnamese Business Forum Kicks Off
Egyptian-Vietnamese Business Forum Kicks Off 8/28/2018 - The Egyptian-Vietnamese Business Forum kicked off with the participation of eight ministers of both sides.

Egyptian and Vietnamese Investment Ministers; Sahar Nasr and Nguyen Chi Dung respec...
Moody's Changes Outlook on Egypt's Credit Rating To Positive
8/29/2018 - Credit ratings agency Moody's upgraded the outlook on Egypt's credit rating from stable to positive, affirming the country's rating at B3.

The great progress made by the Egyptian government i...
Egypt Maintains LE16 Custom Exchange Rate
8/29/2018 - The price of the custom dollar will remain at LE16 in September, Finance Minister Mohammed Moaet briefly reported .

The minister added that the custom dollar’s value remains at around 90 perc...

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