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Financials and Investment News in Egypt

Alexandria Customs Authority Collects EGP 1.7 Bln in Taxes on Imported Vehicles
10/3/2018 - The value of taxes and customs fees on imported vehicles collected by the Alexandria Customs Authority hit EGP 1.7 billion in September, the finance ministry said in a statement .

The number ...
Why The Central Bank of Egypt Keeps Interest Rates Unchanged?
10/3/2018 - The Central Bank of Egypt’s (CBE) Monetary Policy Committee last week decided to keep interest rates at 16.75 per cent for overnight deposits and 17.75 per cent for overnight lending.

All 12 ...
Egypt Targets 8% Economic Growth Rate by the End of Development Plan in 2021
10/3/2018 - Egypt's planning minister Hala El-Saeed said during a meeting with a delegation of foreign investors that Egypt is targeting a 7.5 to 8 percent economic growth rate during its medium-term sustainable ...
Egypt Cotton Exports Expected to Reach 1.3 Million Kantars This Year
10/3/2018 - Chairman of the Egyptian Cotton Exporters Association Nabil el-Santaricy expected exports of cotton "white gold" to increase to 1.3 million kantars, at a total value of 150 million dollars, during the...
Electricity Minister in Talks with Japanese Bank over Bilateral Cooperation
10/5/2018 - Electricity Minister Mohamed Shaker discussed with a mission of the Japanese Bank for International Cooperation boosting existing and future cooperation.

The minister lauded distinguished re...
Trade Minister to Participate in EU-Arab World Summit in Late October
10/5/2018 - Minister of Trade and Industry Amr Nassar said he will visit Greece in late October to represent Egypt at the third EU-Arab World Summit, to be held on October 29 in Athens.

Nassar made the r...
Egypt's Export Development Authority Nominated For WTPO Awards For 2018
10/5/2018 - Egypt's Export Development Authority (EDA) was nominated among 11 organizations for the 2018 World Trade Promotion Organization (WTPO) awards, the Geneva-based International Trade Center (ITC) said in...
Egypt Signs Agreement with CI Capital Alliance to Offer 24% of ENPPI Stakes in Stock Exchange
10/5/2018 - Egypt's Ministry of Petroleum announced the signing of an agreement with investment alliance bank CI Capital, Jefferies Bank and Emirates NBD to offer and promote 24 percent of the Egyptian Engineerin...
Egypt Foreign Minister Calls for Boosting Japanese Investments in Egypt
10/6/2018 - The Japanese firms are welcomed with open arms to invest in Egypt and benefit from the progress achieved in its infrastructure and its promising investment opportunities, he said in remarks he gave d...
Russian-Spanish Consortium Participates in Dabaa Project
10/6/2018 - Minister of State for Military Production Mohamed el Assar 06/10/2018 attended the signing ceremony of a memorandum of understanding between the National Authority for Military Production and the Prot...
Egypt Prime Minister Receives Report on Ongoing Projects in Port Said
10/6/2018 - Prime Minister Mostafa Madbouli has received a report from a cabinet’s technical team about the current status of ongoing service and development projects in Port Said governorate.

The report...
Trade Ministry Organizes Workshop on WTO Agreement on Import Licensing Procedures
10/6/2018 - The Trade Agreements and Foreign Trade Sector of the Trade and Industry Ministry organized a national workshop on a World Trade Organization (WTO) agreement on import licensing procedures.

In...
Ambassador Meets Serbia's Deputy PM on Boosting Cooperation
10/6/2018 - Egyptian Ambassador in Belgrade Amr Al-Jowaily met with Serbia's Deputy Prime Minister Rasim Ljajic.

The meeting dealt with ways of boosting bilateral relations in the trade, tourism and com...
Egypt Ranks First As Investment-Magnet African Country
10/7/2018 - Egypt ranks the first among African countries in 2017 in terms of attracting foreign direct investments, said CEO of COMESA Regional Investment Agency (RIA) Heba Salama.

In 2017, foreign dire...
Egypt Sinks to 12-Month Low As Margin Calls Weigh
10/8/2018 - Egypt's blue-chip stock index plunged 3.6 percent to its lowest level in 12 months, dragged down by weakness in emerging markets and margin calls among local investors, while banking shares boosted Sa...
Egypt Ranks First In HDI among African Countries in 2017
10/8/2018 - Egypt ranks the first among African countries in 2017 in terms of attracting Foreign direct investments, said CEO of COMESA Regional Investment Agency (RIA) Heba Salama.

In 2017, foreign dire...
Egypt's Hassan Allam Plans to List Shares in Cairo, London
10/8/2018 - Egyptian construction and engineering group Hassan Allam said that it would float up to 44.3 percent of its shares on the Egyptian Exchange and the London Stock Exchange.

The company said it ...
Egypt's Foreign Reserves Rise to $ 44.495 Bln
 Egypt's Foreign Reserves Rise to $ 44.495 Bln 10/8/2018 - Egypt’s foreign currency reserves spiked by $ 40 million to reach $ 44.459 billion at the end of September, up from 44.419 billion in August, the Central Bank of Egypt (CBE) announced .
Egypt Can Generate Up To 53% of Power from Renewable Energy Sources By 2050
10/9/2018 - A report by the International Renewable Energy Agency (IRENA) said Egypt has potentials that enable it to generate up to 53% of the total energy produced from renewable energy sources by 2035.

...
Egypt to Continue Cooperation with IRENA to Spread Renewable Energy
10/9/2018 - Minister of Electricity and Renewable Energy Mohamed Shaker said that Egypt will continue fruitful cooperation with the International Renewable Energy Agency (IRENA) to spread renewable energy .
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