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Financials and Investment News in Egypt

Egypt Requests $4.8 bn IMF Loan
8/22/2012 - Egypt has formally requested a $4.8 billion loan from the International Monetary Fund, the presidential spokesman said during a visit to Cairo by IMF chief Christine Lagarde. "We have officially reque...
Dr Hisham Kandel Talks with International Monetary Fund
8/22/2012 - Dr Hisham Kandel Held session of talks with Ms. Christine Lagarde leader of the International Monetary Fund and her entourage, these talks were attended by governor of central bank, minister of financ...
Egypt Stocks Rise 1 pct on IMF Loan Talks
8/23/2012 - Egypt stocks rose Thursday on the back of mounting investor confidence driven by ongoing discussions between Egypt and the IMF over the terms of a proposed $4.8 billion loan deal, offsetting Wednesday...
Suez Canal Hits Record in Terms of Revenue, Shipment
8/24/2012 - The Suez Canal on 23/08/2012 hit a record in terms of revenues that hit 19.6 million dollars or 120 million Egyptian pounds, said Head of the Suez Canal Authority, Mohab Memish. In press statements, M...
Clinton Asserts US Support to Egyptian Economy
8/24/2012 - US State Secretary Hillary Clinton on 23/08/2012 phoned Egypt's Foreign Minister Mohamed Kamel Amr to assert the US desire to support economic recovery in Egypt, US State Department Spokeswoman Victor...
A World Bank Mission to Visit Egypt in September
8/24/2012 - A World Bank (WB) mission will visit Egypt early in September to discuss funding a number of electricity projects as part of a five-year plan of 2012\2017. The remarks were made by Minister of Electri...
IMF has Nothing to Do with Egyptian Economic Policies
8/24/2012 - The International Monetary Fund (IMF) has nothing to do with any economic policy carried out by the Egyptian government, said Minister of Finance Momtaz el-Saeed on 23/08/2012. In press statements, Mi...
Egypt's GASC Seeks Wheat for Oct 1-10 Shipment
8/25/2012 - The Egyptian state's main wheat buying agency, the General Authority for Supply Commodities (GASC), on Friday set a tender to buy an unspecified amount of wheat from global suppliers for Oct. 1-10 shi...
US to Send Economic Delegation to Egypt
8/25/2012 - US economic officials will head to Cairo to discuss ways of helping Egypt navigate the transition following last year's ouster of Hosni Mubarak, the State Department said Saturday. The trip is planned...
UK Changes Position on IMF Loan for Morsi’s Egypt
8/25/2012 - The United Kingdom has refrained from backing Egypt's request of a $4.8 billion loan from the International Monetary Fund (IMF). "We prefer to wait and see the results of the negotiations between Egyp...
Talks with IMF to be Completed Before the End of Year
8/26/2012 - Talks with the International Monetary Fund (IMF) on the loans worth $4.8 billion will begin in mid-September and is expected to be completed before the end of the year, Planning and International Coop...
CIB Drives Egypt Market Upwards
8/27/2012 - Egypt's market continued on its gains streak with turnover seeing a major boost recalling pre-uprising levels. Monday's gains were driven primarily by the impressive performance of the Commercial Inte...
Egypt Takes Part in World Water Week in Sweden
8/27/2012 - Egypt's Water Resources and Irrigation Minister Mohammed Baha el-Din left for Sweden on 26/8/2012 to take part in the World Water Week organized by the Stockholm International Water Institute. Baha el...
Egypt to Establish Two Farms in Sudan
8/27/2012 - Agriculture Minister Salah Abdel-Mo'men agreed to implement the second phase of an agreement signed with Sudan, under which a farm of wheat will be cultivated in Sudan's Northern State. The agreement ...
Arabi Affirms Gov’t Keenness on Cooperation with Japan
8/27/2012 - Minister of Planning and International Cooperation Ashraf Arabi affirmed on 26/8/2012 the government's keenness on enhancing cooperation with Japan through a variety of projects. The minister's remark...
Morsi Rules out Currency Devaluation
8/28/2012 - Egypt's new president said he would not impose new taxes or devalue the country's currency and that his government would rely instead on investment, tourism and exports to fix an economy ravaged by a ...
Implementing Strategic Programs between Egypt, Sudan
8/28/2012 - Planning and International Cooperation Minister Ashraf el-Arabi reviewed with visiting Sudanese Foreign Minister Ali Karti means of boosting cooperation between the two countries in the various domain...
Egypt Seeking to Increase Chinese Investment to $3 Billion
8/28/2012 - Eng Hassan Malek, the head of the businessmen team accompanying the president said during a dinner banquet hosted in honor of the Egyptian businessman that Egypt is seeking to increase Chinese investm...
China Grants Egypt LE430 Million
8/28/2012 - Egyptian President Mohamed Morsi and his Chinese counterpart President Hu Jintao have made a number of agreements on economic and commercial issues during the Egyptian head of state's visit to China. ...
Dr Hisham Kandel Meeting with Mr. Robert Hormates
8/28/2012 - Prime minister Dr Hisham Kandel received in his office Mr. Robert Hormates under secretary of U.S state department for economic development, energy, environmental affairs, this meeting was attended by...

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