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Financials and Investment News in Egypt

New Free Zone to be Established in Alex – Investment Authority Chief
4/5/2019 - Head of the General Authority for Investment and Free Zones Mohsen Adel said the authority seeks to establish a second free zone in Alexandria and expand the zone of Borg El Arab.

He held ...
Egypt, Jordan Discuss Work Progress in Joint Gas Projects
4/5/2019 - Minister of Petroleum and Mineral Resources Tareq el Molla has discussed in a meeting with Jordanian Minister of Energy and Mineral Resources Hala Zwati work progress in joint projects and strategies ...
EGX Gains EGP 15.6 Bln Over Past Week
EGX Gains EGP 15.6 Bln Over Past Week 4/5/2019 - The Egyptian Exchange (EGX) gained about EGP 15.6 billion over the past week after its indexes showed mixed performance.

The market capital increased 1.95 percent, registering EGP 830.3 bil...
Industry Min. Hails Egypt's Construction Market as One of Regional Key Markets
4/5/2019 - Minister of Trade and Industry Amr Nassar said Cairo's hosting of the Big 5 Construct Egypt for the second year in a row, reflects the high interest showed by DMG Events company in the Egyptian marke...
Egypt Issued International Bonds Worth €2 Billion In 2 Tranches
4/5/2019 - Egypt has put up for sale international bonds at a value of €2 billion in two tranches, the Ministry of Finance said in a statement .

The statement noted that Egypt issued 6-year bonds worth ...
Reform of Fuel Subsidies in Egypt on Track - IMF
4/6/2019 - The reform of fuel subsidies in Egypt is on track to be completed in the 2018/2019 fiscal year, the IMF said in a press release.

"The authorities are committed to reaching full cost recovery ...
EBRD Says Investments in Egypt Register €4.8 Bln
4/6/2019 - President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti said the bank’s investments in Egypt total €4.8 billion through 91 projects.

The EBRD injected invest...
Minister: Egypt's Economic Growth Hits 5.5%, Highest in Decade
4/6/2019 - Egypt's economy has achieved its highest growth rate within a decade to reach 5.5 percent, thanks to the economic reform program adopted by the government, Planning Minister Hala el Saeed said .
Industry Min. Convenes With Representatives of Key Int'l Companies
4/7/2019 - Trade and Industry Minister Amr Nassar continued holding intensive meetings with representatives from major international companies on the fringe of the 10th World Economic Forum on the Middle East an...
Investment Min. Lauds Profound Egyptian-Jordanian Relations
Investment Min. Lauds Profound Egyptian-Jordanian Relations 4/8/2019 - Minister of Investment and International Cooperation Sahar Nasr has lauded Egyptian-Jordanian profound relations, saying the Egyptian government is keen on developing investment ties with Amman.
Banque Misr Achieves Profits of EGP10.4 Bln in 2017/18
4/9/2019 - Banque Misr achieved net profits worth EGP 10.4 billion before tax deductions during fiscal year 2017/18 and EGP 6.3 billion after taxes.

The bank said that the total financial position hike...
IMF Cuts Global Growth Estimate to 3.3% as World Economy Loses Steam
4/9/2019 - The global economy is facing a "delicate moment," beset with risks as the recovery loses steam amid trade tensions, Brexit and other factors, the International Monetary Fund warned .

The IM...
Egypt's Customs Revenues from Airborne Imports, Exports Hit EGP 1.2 Bln in March
4/9/2019 - Egypt's customs revenues earned from clearing airborne imports and exports reached around EGP 1.2 billion in March, a source at the Customs Authority said .

Customs certificates worth EGP 230...
Shaker: Egypt witnesses great development in energy score
4/11/2019 - Electricity and Renewable Energy Minister Mohamed Shaker said Egypt is witnessing great development in energy scores.

In statements to MENA , he said his participation in the Berlin Energy Tr...
WB Hails Sisi's Initiative to Invest In Human Capital
4/11/2019 - World Bank officials hailed an initiative of President Abdel Fattah El Sisi to invest in human capital, especially in the fields of education and health.

The World Bank has channeled dlrs 1.0...
Electricity Min., German State Min. For Economic Affairs Discuss Developing Energy Sector
4/12/2019 - Electricity Minister Mohamed Shaker had talks with German State Secretary at the Federal Ministry for Economic Affairs and Energy Andreas Feicht on developing the energy sector.

The meeting ...
CBE: Bank Deposits Up By EGP 19bn in January
4/12/2019 - The Central Bank of Egypt (CBE) announced an increase in bank deposits by around EGP 19 billion by the end of January to reach EGP 3.837 trillion compared to EGP 3.818 trillion in December.

...
Investments worth EGP 4.9 Billion Pumped Since Launching New Obour City Project
4/12/2019 - Minister of Housing Assem el Gazzar said that investments worth EGP 4.9 billion were pumped into the new Obour city since laying the foundation stone in March 2018.

Of these investments, EGP...
WB Dedicates Dlrs 200 Mn to Support Entrepreneurship in Egypt
WB Dedicates Dlrs 200 Mn to Support Entrepreneurship in Egypt 4/12/2019 - The World Bank (WB) has approved the allocation of 200 million dollars for backing entrepreneurship and SMEs in Egypt, giving top priority to women-run projects, said Investment Minister Sahar Nasr .<...
Investment Minister Urges WB, IMF to Support Developing Countries
4/12/2019 - Minister of Investment and International Cooperation Sahar Nasr called on the World Bank (WB) and International Monetary Fund (IMF) to support developing countries in terms of regional trade, investme...

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