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Financials and Investment News in Egypt

Egypt's Finance Ministry Auctions EGP 1.2 Bn T-Bonds
3/26/2019 - The Finance Ministry auctioned treasury bonds at a total value of EGP 1.250 billion.

In an online statement, the ministry said it sold EGP 750 million of 5-year T-bonds with an average intere...
Cairo, Transmashholding Probe Contract to Supply Railways with 1,300 Cars
3/29/2019 - Minister of Transport Kamel el Wazir met with a delegation from Russian-Hungarian consortium Transmashholding-Hungary Kft. in the presence of Russian Ambassador in Cairo Sergei Kravchenko.

...
CBE Keeps Interest Rates on Deposits, Loans Unchanged
CBE Keeps Interest Rates on Deposits, Loans Unchanged 3/29/2019 - The Central Bank of Egypt (CBE) decided to keep the overnight deposit rate, overnight lending rate unchanged at 15.75 percent and 16.75 percent respectively.

The decision was made by the CB...
EGX Gains EGP 6 Bln Ahead of Anticipated CBE Meeting to Review Interest Rates
EGX Gains EGP 6 Bln Ahead of Anticipated CBE Meeting to Review Interest Rates 3/29/2019 - The Egyptian Exchange (EGX) indexes went up collectively at the close of trading, pushed by purchases of local and Arab investors, ahead of an anticipated meeting of the Central Bank of Egypt (CBE) l...
Finance Ministry Denies Media Reports on Dollar Price in 2018-19 National Budget
3/29/2019 - The Finance Ministry denied media reports about the average price of the exchange rate of the US dollar included in its initial estimates of Egypt's 2018-19 budget.

In a statement, the mini...
Investment Min. Amends Accounting Standards
Investment Min. Amends Accounting Standards 3/29/2019 - Investment and International Cooperation Minister Sahar Nasr decided on to amend some of the Egyptian Accounting Standards and the Egyptian Auditing Standards and Limited Reviews.

The deci...
CBE Receives Requests from Int’l Banks to Operate in Egypt
CBE Receives Requests from Int’l Banks to Operate in Egypt 3/30/2019 - The Central Bank of Egypt (CBE) has received requests from international banks to operate in the country, CBE deputy governor Gamal Negm said .

Negm’s remarks came during the activities of th...
Sisi Raises Minimum Monthly Wage for Civil Servants to EGP 2000
Sisi Raises Minimum Monthly Wage for Civil Servants to EGP 2000 3/30/2019 - President Abdel Fattah El Sisi announced raising the minimum monthly wage for all civil servants to EGP 2,000 from EGP 1,200.

Sisi made the announcement as part of his speech at a ceremony to...
Egypt Gets Over Hardest Part of Economic Reforms
3/30/2019 - Egypt has got over the hardest part of its strict economic reform program, and achieved a huge economic boom due to the concerted efforts of the Central Bank of Egypt (CBE) and the government, preside...
Egypt, Germany Sign Protocol on Vocational Training
3/30/2019 - The Arab Organization for Industrialization (AOI) and the German federal institution for education signed a protocol for vocational training.

After the signing ceremony, president of AOI Abd...
Bourse Gains EGP 66.8 Bln in 2019's 1st Quarter
Bourse Gains EGP 66.8 Bln in 2019's 1st Quarter 4/1/2019 - The Egyptian Exchange (EGX) indexes posted collective gains at a total of EGP 66.8 billion in the first quarter of 2019.

In a quarterly report, a copy of which obtained by MENA , the Egypt...
Egypt Maintains Customs Exchange Rate for Essential Goods
4/1/2019 - Egypt will keep its customs exchange rate steady at EGP 16 to the dollar for strategic and essential goods for April, the finance ministry said . The ministry reduced the exchange rate for unnecessar...
Egypt's Finance Ministry Auctions EGP 1.7 Bln T-Bonds
4/1/2019 - The Finance Ministry auctioned treasury bonds at a total value of EGP 1.750 billion.

In an online statement, the ministry said it sold EGP one billion of 3-year T-bonds with an average inter...
Egypt Current Account Deficit Widens, Tourism Picks Up, FDI Falls
4/2/2019 - Egypt’s current account deficit widened to $2.1 billion in the last three months of 2018 from a deficit of $1.78 billion in the same period a year previously, according to Reuters calculations based o...
Egypt's Non-Petroleum Exports Hit $4.1 Billion In January, February
4/3/2019 - Egypt's non-petroleum exports recorded $4.1 billion in January and February, including $3.1 billion in industrial products and $961 billion in food commodities, the Export and Import Control Authority...
Egypt Foreign Reserves Climb To $44.11 Billion At End Of March: CBE
4/3/2019 - Egypt’s net foreign reserves rose to $44.11 billion at the end of March from $44.06 billion a month earlier, the central bank said .

Egypt’s foreign reserves recorded $42.61 billion at the en...
Isdb Group Annual Meeting in Marrakesh To Address Development Issues
4/3/2019 - Minister of Planning Hala el Saeed stressed the importance of the Islamic Development Bank Group (IsDB Group) 44th Annual Board of Governors Meeting in due to kick off in Marrakesh, Morocco.

...
Egypt, Austria Probe Boosting Cooperation
4/4/2019 - Military Production Minister Mohamed el Assar discussed with Austrian Ambassador to Egypt Georg Stillfried and a delegation of Bit Media e-solution company means of boosting cooperation.

Th...
Egypt Offers Euro-Denominated Bonds on London Stock Exchange: Bank Document
4/4/2019 - Egypt will offer six-year and 12-year euro-denominated bonds on the London Stock Exchange,to be settled on April 12, according to a document issued by one of the banks leading the deal.

The s...
Investments to UAE Expected to Rise By 20% in 2019
4/5/2019 -  The UAE Government’s new foreign direct investment, FDI, law passed in 2018 could accelerate FDI flows by up to 20 percent this year, from the eight percent average growth rate, as per the recent est...

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