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Financials and Investment News in Egypt

Egypt's Exports of Glass, Marble Hit $587 Mln during 2018
1/31/2019 - The Export Council for Building Materials (ECBM) stressed that Egypt's exports of glass, marble and granite reached $587 million during 2018.

The ECBM said that the exports of glass products ...
Egypt Bourse Gains 43.7 Billion Dollars in January
2/1/2019 - The Egyptian Exchange (EGX) gained 43.7 billion dollars pounds in January, gaining about EGP 793.4 billion dollars compared to 749.7 billion dollars in December, up 5.8 percent.

The market in...
Egyptian M2 Money Supply Growth Slows To 13.3 Pct in December -C.Bank
2/1/2019 - The money supply stood at 3.63 trillion Egyptian pounds ($205.90 billion) at end-December.

Under a $12 billion deal signed with the IMF in 2016, Egypt has been working to get its money supply...
OECD Upgrades Egypt’s Rank in Country Risk Classification
2/2/2019 - The Organization for Economic Co-operation and Development (OECD) upgraded Egypt’s ranking in the Country Risk Classification to five.

In its statement, OECD said that investment risks in Egy...
Bulgarian Minster Lauds Egyptian Economic Reform Program
2/2/2019 - Bulgarian Minister of Economy Emil Karanikolov lauded the Egyptian economic reform program.

He added, at a meeting with Minister of Investment and International Cooperation Sahar Nasr, that t...
Finance Ministry's Strategy on Public Debt to be referred to President in March
2/4/2019 - Finance Minister Mohamed Maait said that his ministry has developed an overall strategy, with the aim of reducing the public debt in the medium run.

The strategy, drawn up in collaboration w...
OECD Drops Egypt’s Economic Risk Classification Ranking
2/4/2019 - The Organization for Economic Co-operation and Development (OECD) officially announced that Egypt’s risk classification has dropped from six to five, a milestone resulting from government efforts to e...
Egypt’s Govt Plans to Reduce Indebtedness on Medium Term: Finance Minister
2/4/2019 - Egypt’s Finance Ministry, participating with the economic ministerial group and the Central Bank of Egypt, has prepared an integrated strategy to reduce and manage the government indebtedness in the m...
Egyptian Investment Group Aims to End Car Trade Monopoly
2/4/2019 - The Egyptian Investment Group announced it would establish a company for car trading in order to counter the monopoly and high prices, as well as to build on the success of the “Khaleha Tesady” (Let i...
IMF Okays 5th Tranche of $12b Loan to Egypt
2/5/2019 - The International Monetary Fund (IMF) agreed to give Egypt the 5th tranche of its $12 billion loan, Minister of Finance Mohamed Maait said.

Egypt is due to receive the $2-billion tranche w...
German Investments in Egypt Worth $7.1 Billion
German Investments in Egypt Worth $7.1 Billion 2/5/2019 - Investment and International Cooperation Minister Sahar Nasr said that German investments in Egypt currently stand at $7.1 billion in different fields with some 1215 German companies operating Egypt....
Egypt's Foreign Currency Reserve Hit $44.616 Bln in January: CBE
Egypt's Foreign Currency Reserve Hit $44.616 Bln in January: CBE 2/5/2019 - The Central Bank of Egypt has announced an increase in the foreign currency reserves by around $66 million to reach $42.616 billion by the end of January compared to $42.550 billion in December.
Bank Deposits Up By EGP 65bln in November: CBE
2/5/2019 - The Central Bank of Egypt (CBE) announced an increase in bank deposits by around EGP 65 billion by the end of November to reach 3.761 trillion pounds, compared to 3.696 trillion in October.

...
Foreign Investments in Treasury Bills, Bonds Reach $13.1bn in January: Official
2/5/2019 - Deputy Finance Minister for Financial Policies Ahmed Kouchouk said foreign investments in the Egyptian treasury bills and bonds hit $13.1 billion till January 28, 2019.

Addressing a press con...
Mamish: Suez Canal Sets Highest Daily Record in History with 5.8 Million-Ton-Cargo
2/6/2019 - Chairman of the Suez Canal Authority (SCA) Mohab Mamish announced that navigation at the Suez Canal recorded the heaviest daily cargo in the history of the waterway with 5.8 million tons.

Th...
Egypt, Zanzibar Discuss Cooperation in Agricultural Domain
2/6/2019 - Agriculture Minister Ezzel Din Abu Steit held a number of meetings in Zanzibar, a semi-autonomous region of Tanzania, for talks on promoting agricultural cooperation.

Talks covered transferri...
Egypt Receives Fifth $2bn Tranche from IMF Loan Package As Lender Gives Thumbs Up
2/6/2019 - Egypt said it received a fifth $2 billion tranche from the International Monetary Fund (IMF), bringing it one step closer to finalising the disbursements of a $12 billion loan package from the interna...
Egypt Reports 62% Increase in Net Profit For 2018
2/6/2019 - Building on its strong performance since entering the Egyptian market, Al-Ahli Bank of Kuwait-Egypt (ABK-Egypt) reported earlier this week a significant increase of 62 percent in net profit for 2018, ...
IMF: Egypt Successfully Weathered Recent Capital Outflows
2/6/2019 - David Lipton, First Deputy Managing Director and Acting Chair of the International Monetary Fund (IMF), said Egypt has successfully weathered recent capital outflows but stressed that consistent polic...
Egyptian Parliament Approves Amendments to Income Tax Law
2/6/2019 - Egypt’s Parliament approved by majority vote in a general session on Tuesday amendments to some provisions of the Income Tax Law no. 95 of 2005.

The bill includes amending the last paragraph ...

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