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Financials and Investment News in Egypt

Egypt To Sign 45 Million Euro Loan Deal With EU To Support Smes
12/9/2018 - The executive director of the Micro, Small and Medium Enterprise Development Agency (MSME) Nevine Gamea has said that Egypt will ink a 45-million-euro loan deal with the European Union by the beginnin...
Egypt Approves BP, UAE Mubadala Acquisition of 45 Percent Stake in Eni's Noor Concession
12/9/2018 - Egypt signed an agreement for UK Petroleum giant British Petroleum (BP) and UAE investment fund Mubadala to buy a 45 percent stake in the country's Noor offshore natural gas concesion in the Meditera...
Economists Praise CBE’s Decision To Issue Plastic Notes By 2020
12/9/2018 - The Central Bank of Egypt (CBE) announced that the government would issue LE5 and LE10 plastic banknotes by 2020, anticipated to be more durable then paper banknotes.

Economists praised the...
Egypt Aims To Kickstart African Trade As It Takes AU Chair
12/9/2018 - Egypt is promoting itself as a linchpin for intra-African trade and a model of economic reform as it prepares to chair the African Union in 2019.

The country hosted a high-level business foru...
World Bank Shifts Focus To Egypt's Private Sector With $1bln Loan
12/9/2018 - The World Bank is pushing to prise open more space for Egypt’s private sector with $1 billion in new funding, part of a second phase of support that follows two years of painful economic reforms, the ...
Gulf Markets Close Mostly Lower; Egypt Falls Again
12/9/2018 - Gulf markets closed mainly in the red , with market heavyweights Emaar Properties and Emirates NBD dragging Dubai’s index lower and Egypt’s market falling to fresh lows for the year.

After pl...
Trade Minister: Coordination Ongoing With CBE to Boost Egypt Presence in Africa
12/9/2018 - Minister of Trade and Industry Amr Nassar asserted ongoing coordination with the Central Bank of Egypt to activate its financing role to boost Egypt's presence in the African markets.

This ca...
Investment Minister: Egypt Is Africa's Gate, Meeting Point of Old, Modern Civilizations
Investment Minister: Egypt Is Africa's Gate, Meeting Point of Old, Modern Civilizations 12/9/2018 - Minister of Investment and International Cooperation Sahar Nasr said Egypt is the gate of Africa and a meeting point of the old and modern civilizations.

Addressing the third edition of Afric...
Egypt, Algeria Industry Ministers Mull Cooperation
12/9/2018 - Trade and Industry Minister Amr Nassar discussed cooperation with his Algerian counterpart Youcef Yousfi.

The meeting, held on the sidelines of the Africa 2018 Forum in Sharm El Sheikh, mulle...
PM Attends Signing an Agreement to Fund Tahrir Petrochemical Complex
12/10/2018 - Prime Minister Mostafa Madbouli attended the signing ceremony of a 1.25-billion-dollar agreement between Egypt's Carbon Holdings Co. and the Africa Finance Corporation to fund the Tahrir Petrochemica...
Africa Forum 2018 Recommends Promoting PPP
12/10/2018 - Africa 2018 Forum recommended promoting the public–private partnership (PPP), especially in infrastructure projects.

Addressing the forum's closing session, Minister of Investment and Intern...
Sawari Ventures North Africa 1 Fund Declared At Africa Forum
12/10/2018 - The establishment of a new fund, "Sawari Ventures North Africa 1" was declared on Sunday 9/12/2018 on the sidelines of the Africa 2018 Forum held under the auspices of President Abdel Fattah el Sisi.<...
Director General of the Arab Bank for Economic Development: Africa is Continent of Opportunities
12/10/2018 - Director General of the Arab Bank for Economic Development in Africa (BADEA) Dr. Sidi Ould Tah described Africa as a continent of opportunities.

Addressing a discussion session at the third ...
Egypt, EU Sign Grants of 55.8 Million Euros for Water, Energy Sectors
12/10/2018 - Egypt and the EU signed two grants worth 55.8 million euros, to be directed to the water and renewable energy sectors.

The documents were inked on the sidelines of Africa 2018 Forum, hosted b...
Egypt Did Not Sell 49% of Suez Zone to another Arab Country
12/10/2018 - The Egyptian Cabinet’s Information and Decision Support Center (IDSC) denied rumors circulated by some websites and social networking pages, about Egypt selling 49 percent of the Suez Canal Economic Z...
Egypt’s Economic Performance Improved In 2018
12/10/2018 - Minister of Finance Mohammed Maait announced that Egypt’s economic performance improved in 2018, adding that the government has exerted efforts to reduce unemployment rates.

After meeting wi...
President Sisi Meets AIIB President
President Sisi Meets AIIB President 12/11/2018 - President Abdel Fattah El Sisi stressed Egypt's keenness on boosting aspects of cooperation with the Asian Infrastructure Investment Bank (AIIB).

The president made the remarks during a meet...
Intra-African Trade Fair (IATF2018) Opens Dec 11-17
12/11/2018 - Prime Minister Mostafa Madbouli will inaugurate the 1st Intra-African Trade Fair (IATF2018), slated for December 11-17, Minister of Trade and Industry Amr Nassar said .

The first-ever Intra-A...
Egypt's Planning Ministry Adopts Law Establishing Country's Sovereign Wealth Fund
12/11/2018 - Egypt's Minister of Planning Hala El-Said said that the law on establishing the country's sovereign wealth fund is being put into effect.

In July, Egypt’s House of Representatives passed a la...
Egypt Sells $1.1 Bln in One-Year Dollar T-Bills: Central Bank
12/11/2018 - Egypt sold $1.1 billion in one-year dollar-denominated treasury bills in an auction , the central bank said.

The average yield for the bills was 3.747 percent. The bills will mature on Dec. 1...

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