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Financials and Investment News in Egypt

Ministry Of Finance Issues a Circular on Collecting and Supplying (Table) Tax Enforced Under VAT Law
9/26/2018 - In attempt to facilitate and simplify procedures of VAT collecting, Ministry of Finance issues circular no. 113/2018 on procedures of collecting and supplying (table) tax, effected under VAT Law issu...
Sisi Inspects Egypt Investment Pavilion at UN General Assembly
Sisi Inspects Egypt Investment Pavilion at UN General Assembly 9/27/2018 - President Abdel Fattah El Sisi inspected the Egyptian investment pavilion set up by the Egyptian government at the corridors leading to the UN General Assembly meeting hall.

This came before...
Italian PM Praises Egypt's Economic Reforms and Achievements in Many Fields
9/27/2018 - Italian Prime Minister Giuseppe Conte praised Egypt's economic reforms and achievements in many fields, most particularly the major projects that it is implementing to attain economic and social progr...
Egypt Receives Final Third of 1.5 Billion Loan from African Development Bank
Egypt Receives Final Third of 1.5 Billion Loan from African Development Bank 9/28/2018 - The final $500 million tranche was received by Egypt as part of a $1.5 billion African Development Bank (AfDB) loan in support of the country’s economic and social reform programme, a statement by the...
Egyptian Investment Pavilion in New York Sees High Turnout
9/28/2018 - The Egyptian investment pavilion, which was erected on the sidelines of the 73rd session of the UN General Assembly, has seen a high turnout from member states at the UN.

President Abdel Fatt...
Int'l Praise to Egypt's Investment Pavilion in UN
Int'l Praise to Egypt's Investment Pavilion in UN 9/28/2018 - Egypt's investment pavilion witnessed a huge turnout by member countries in the United Nations (UN) after President Abdel Fattah El Sisi visited it in the presence of Investment and International Coop...
The Central Bank of Egypt Keeps Interest Rates on Deposits, Loans Unchanged
The Central Bank of Egypt Keeps Interest Rates on Deposits, Loans Unchanged 9/28/2018 - The Central Bank of Egypt decided to stabilize the interest rate for one night on deposits and loans at 16.75 and 17.75 percent respectively.

The decision was made by the CBE Monetary Policy...
Egypt between Two Economic Crises
9/29/2018 - It has been 10 years since the world financial crisis, the gravest financial downturn the world has seen since the Great Depression of the 1930s.

On 15 September 2008 the global economy witne...
Egypt's Finance Ministry To Auction T-Bonds Worth EGP 498.7 Bln
9/30/2018 - Egypt's finance ministry intends to auction treasury bonds at a total value of EGP 498.750 billion during the second quarter (October-December) of the fiscal year 2018-2019.

In an online stat...
Abu Qir Fertilizer Company's Revenues Hit EGP8.3 Bln
9/30/2018 - Abu Qir Fertilizers and Chemicals has achieved total revenues of EGP 8.3 billion, as its market value at the stock exchange soared from EGP 8.5 billion in March 2017 to a current EGP 40 billion.
Industry Min.: Egypt's Trade Hits $ 59.683bn in 8 Months
9/30/2018 - Egypt's non-petroleum foreign trade during the period January - August 2018 increased by 11.8% reaching $ 59.683 billion, compared to the same period in 2017, according to a report on foreign trade in...
Egypt's Financial Supervisory Authority Named Most Innovative Regulator in Africa
10/1/2018 - Egypt's Financial Supervisory Authority (FSA) was named the Most Innovative Capital Market Regulator in Africa .

The authority's chairman Mohamed Omran welcomed the award granted by Africa I...
Egypt's M2 Money Supply Up 17.02 Pct in August: C.Bank
Egypt's M2 Money Supply Up 17.02 Pct in August: C.Bank 10/1/2018 - Egypt’s M2 money supply grew by 17.02 percent year-on-year in August, data from the central bank showed .

M2 grew by 17.84 percent in July. The money supply stood at 3.51 trillion Egyptian p...
Egypt’s Domestic Liquidity Rises to EGP 3.466 Trillion by End of July
10/1/2018 - The Central Bank of Egypt (CBE) said in a report that Egypt's domestic liquidity increased by EGP 9.1 billion to register EGP 3.466 trillion, at a rate of 0.3%, at the end of July.

The repor...
Egypt Sells EGP 904 Mln of T-Bonds After Cancelled Auctions
10/1/2018 - Egypt sold EGP 904 million ($50.6 million) worth of three- and seven-year treasury bonds after cancelling sales for four successive weeks, the central bank said.

The three-year bonds carried ...
Egypt's Current Account Deficit Narrows Sharply To $6 Billion in 2017-18
10/2/2018 - Egypt's current account deficit for the 2017-18 financial year that ended in June narrowed by 58.6 percent to $6 billion, the central bank said .

The central bank attributed the drop in the d...
Egypt's Bourse Indices Show Mixed Performance
10/2/2018 - The Egyptian Exchange (EGX) indexes showed mixed performance at the close of trading amid purchasing operations by Arab and local institutions and investment funds and selling operations by foreign i...
Egypt Will Continue to Cut Energy Subsidies to Reduce Govt Expenditure
10/2/2018 - Egypt's Minister of Petroleum and Mineral Resources Tarek El-Molla said on Tuesday at the Arab Energy Forum in Marrakech that Egypt would continue to cut energy subsidies to reduce government expendit...
Minister of Trade and Industry launches local industry deepening program
10/3/2018 - Minister of Trade and Industry Amr Nassar inaugurated the launching conference of the “National Industrial Localization Program (NILP),” jointly organized by the Industrial Modernization Center (IMC)...
World Bank Forecasts Egypt's Economic Growth at 5.8% in 2020
10/3/2018 - The World Bank forecasts Egypt’s growth to reach 5.8% in 2020, driven by the country’s economic reform program, a report by the group said .

Egypt's economic reform program, which the IMF sup...

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