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Financials and Investment News in Egypt

IMF Hails Cooperation with Egypt in Reform Program
4/13/2019 - Director of the International Monetary Fund's (IMF) Middle East and Central Asia department Jihad Azour stressed the importance of the fund's cooperation with Egypt, expecting that the Egyptian econom...
Egypt, Hungary Discuss Boosting Coop. In Livestock Field
4/13/2019 - Deputy Agriculture Minister for Animal Resources, Fisheries and Poultry Mona Mehrez has discussed in a meeting with Hungarian Ambassador in Cairo Peter Kveck means of boosting bilateral cooperation in...
Egypt Accepts French Wheat Cargo after Re-Testing
4/14/2019 - A French wheat cargo Egypt had rejected by Egypt due to high levels of the grain fungus ergot has been re-tested and found to have acceptable levels, a ministry document showed and an Egyptian officia...
Egypt Keen on Drawing on WB Expertise in Digital Transition
Egypt Keen on Drawing on WB Expertise in Digital Transition 4/15/2019 - Investment and International Cooperation Minister Sahar Nasr reiterated Egypt's keenness on benefiting from the World Bank's expertise in digital transition in light of the bank's allocation of 25 bi...
Egypt Plans to Sell Banque Du Caire Stake Next Year: CBE Governor
4/15/2019 - Egypt plans to sell a stake in Banque du Caire, one of the country’s biggest state-owned lenders, toward the end of this year, the Central Bank of Egypt (CBE) Governor Tarek Amer said.

“The...
Egypt's Finance Ministry Collects Temporary Fees on Steel Rebar, Steel Billets For 180 Days
4/15/2019 - Egypt's Ministry of Finance says it has started collecting "temporary protection fees" of 25 percent on steel rebar and 15 percent on iron billets for 180 days starting Monday.

The ministry ...
Egypt's New Budget Cuts Fuel Subsidies By 40.5 Percent, and Electricity By 75% in FY 2019/20
4/16/2019 - A finance ministry report on Egypt’s new budget (2019/20) showed that fuel subsidies will be reduced by EGP 36.112 billion (40 percent) in the new fiscal year, Finance Minister Mohamed Mait said in a ...
President Sisi's Vision on Sustainable Development Achieved Major Economic Progress
President Sisi's Vision on Sustainable Development Achieved Major Economic Progress 4/16/2019 - Minister of Investment and International Cooperation Sahar Nasr said that the vision of President Abdel Fattah El Sisi on sustainable development has helped achieve major economic progress.

...
Assar, Bechtel Region President Discuss Bilateral Cooperation
4/16/2019 - Military Production Minister Mohamed Said el Assar discussed with Stuart Jones, the Bechtel region president for Europe and Middle East, means of promoting bilateral cooperation in various fields, inc...
Leading Female Entrepreneurs in MENA Speak of Purpose-Driven Businesses, Challenges in Dubai Panel
4/17/2019 - Leading female entrepreneurs operating in the Middle East spoke of their purpose-driven businesses in the region, exchanging insights into evolving technology, during a panel held on the sidelines of ...
Ministerial Meeting of Egyptian-Dutch Consultative Council on Water Kicks off
4/17/2019 - The ministerial meeting of the Egyptian-Dutch Consultative Council on Water kicked off here 17/4/2019 under the chairmanship of Minister of Water Resources and Irrigation Mohamed Abdel Aati and Dutch ...
Khurafi Group Seeks Increasing Its Investments in Egypt
4/17/2019 - Chief Executive Officer of the Kuwaiti Khurafi consortium and Zein Telecom Badr Al Khurafi said that his group is very much interested in doing business in Egypt.

At a meeting with Prime Mini...
Moody's Upgrades Egypt's Rating To B2, Expects More Economic Growth
4/18/2019 - Rating agency Moody’s has upgraded Egypt’s sovereign rating, saying ongoing economic reforms will help improve its fiscal position and boost economic growth.

Moody’s upgraded the long-term fo...
Moody's Upgrades Egypt's Rating To B2, Expects More Economic Growth
4/18/2019 - Moody's Investors Service has upgraded the long-term foreign and local currency issuer ratings of the Government of Egypt to B2 from B3.

The outlook was changed to stable from positive, Moody...
Nassar, Estonian Official Confer On Cooperation Opportunities
4/19/2019 - Minister of Trade and Industry Amr Nassar asserted during a meeting with Estonian Deputy Secretary General for Economic Development of the Ministry of Economic Affairs and Communications Viljar Lubi t...
Finance Minister: Egypt's Rating Upgrade Testifies To Success of Egyptian Reforms
4/19/2019 - Finance Minister Mohamed Maait said upgrading Egypt's long-term foreign and local currency issuer ratings from B3 to B2 testifies again to the success of the economic reforms carried out by the Egypt...
Mamish: Suez Canal’s Revenues Reach All-Time High In 2018
4/19/2019 - Chairman of the Suez Canal Economic Zone (SCZone) Mohab Mamish said the international waterway achieved an all-time high in revenues in 2018.

Receiving a diplomatic delegation grouping ambas...
Transport Min, Cypriot Amb. Mull Cooperation in Maritime Transport
4/19/2019 - Minister of Transport Kamel El Wazir discussed with Cypriot ambassador to Cairo Kharis Moritzis means to cement cooperation between Egypt and Cyprus in the field of maritime transport.

They...
Egypt's Economy: Reining In Inflation
4/19/2019 - Inflation has been on the rise in Egypt over recent years, attributable to the floatation of the Egyptian pound in late 2016 as well as energy subsidy cuts.

The floatation caused the pound to...
Egypt's Economy: The Road Ahead
4/19/2019 - Over the past couple of years, the annual meetings of the International Monetary Fund (IMF) and World Bank in Washington have been the occasions for much lauding of Egyptian economic policy-makers. T...

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