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Financials and Investment News in Egypt

Egypt's Banque Du Caire Eyeing Sale of 20-30 Pct Stake for $300-400 Mln
4/19/2019 - The head of Egypt’s Banque du Caire said the bank was aiming to raise $300-400 million by selling a 20-30 percent stake by the end of 2019.

Chairman and Chief Executive Tarek Fayed told repo...
Egypt's Finance Ministry Auctions T-Bills worth EGP 18.5bn
4/19/2019 -  The Finance Ministry auctioned treasury bills at a total value of EGP 18.5 billion.

In an online statement, the ministry said it sold 182-day T-bills worth EGP 9 billion with an average y...
PM, Huawei Official Discuss Boosting Investments in Egypt
4/21/2019 - Egypt is seeking to benefit from the development experiment in China, particularly in the field of technology, Moustafa Madbouli has said.

The Prime Minister, in a meeting with Chairman of ...
Egypt Considers Establishing Freight, Maritime Transport Company with Africa
4/21/2019 - Prime Minister Moustafa Madbouli directed officials to make a full vision for establishing a national company for freight and maritime transport aimed at boosting trading links with Africa.

...
Volume of Trade Exchange between Egypt, China Jumped To USD 13.8 Bn In 2018
4/22/2019 - Economic and Commercial Counselor of the Chinese Embassy in Cairo Han Ping said the volume of trade exchange between Egypt and China jumped to USD 13.87 billion in 2018, compared to USD 10.8 billion i...
Egypt Expects Borrowing Needs to Hit $48 Bln In Fiscal 2019/20
4/22/2019 - Egypt expects its borrowing needs to reach 820.7 billion Egyptian pounds ($48 billion) in fiscal 2019/20, a 26 percent increase from the previous year, the draft budget seen by Reuters showed.

...
Export Council Reveals Rise in Marble, Granite Exports in January, February
4/22/2019 - The Export Council for Building Materials, Refractory & Metallurgy Industries revealed an increase in the exports of marble and granite in in January and February.

In a statement, the coun...
Egypt Hosts 10th Annual Conference of Arab Federation of Exchanges
Egypt Hosts 10th Annual Conference of Arab Federation of Exchanges 4/23/2019 - The 10th conference of the Arab Federation of Exchanges (AFE) will be held in Egypt on April 23-24.

The gathering, organized by the Egyptian Exchange (EGX) in cooperation with the AFE, is exp...
Egypt, Cyprus Discuss Economic Cooperation
4/24/2019 - Minister of Petroleum and Mineral Resources Tarek el Mulla held talks talks here with visiting Cypriot parliament speaker Demetris Syllouris on boosting economic cooperation between the two countries...
IMF Expects Continuing Growth of Egypt's Exports
4/29/2019 - The International Monetary Fund (IMF) expects Egypt's exports to remain on an upward track, projecting a boom in the country's tourism sector, alongside an increase in natural gas discoveries.

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WBG Looks Forward To Living Standards as Egyptians Apply
5/1/2019 - World Bank Group announced that it will extend its Country Partnership Framework (CPF) 2015–2019 with Egypt for two years, so that it will end in 2021.

In a statement a copy of which was obta...
Egypt, Chile To Start Negotiations on Free Trade Zone Later This Year: Chilean Official
5/1/2019 - Philippe Lubiedia, the director of economic relations at the Chilean Ministry of Foreign Affairs, said in an interview with Al-Ahram Arabic newspaper that Chile will start later this year advanced neg...
Assar Tours Chinese Companies for Cooperation in Production of Solar Panels in Egypt
5/3/2019 - Military Production Minister Mohamed Saeed el Assar has made a tour of China Electronics Technology Group Corporation (CETC) and China Enfi Engineering Corp with the aim of cooperation in establishing...
Trade Exchange With Lebanon Hits Dlrs 643 Mln in 2018: Cabinet
5/3/2019 - The trade exchange between Egypt and Lebanon recorded 643 million dollars in 2018 with Egypt's exports to the Arab country hitting 527 million dollars.

Egypt's imports from Lebanon stood at 1...
44 Ships Transit Suez Canal with Cargo of 3.2 Mln Tons
5/3/2019 - Forty-four ships crossed the Suez Canal with a total cargo of 3.2 million tons.

The south-bound convoy included 27 vessels carrying 1.8 million tons, while the north-bound one included 17 sh...
EGX Indexes Show Mixed Performance, Benchmark Up 0.26 Pct
5/3/2019 - The Egyptian Exchange (EGX) indexes showed mixed performance at the close of trading.

The market capital lost EGP 1.6 billion, closing at EGP 807 billion after transactions totaled EGP 440 mi...
Egypt Has Great Investment Opportunities, Says New World Bank President during Cairo Visit
5/4/2019 - World Bank Group President David Malpass toured the Investor Service Center at Egypt’s Ministry of Investment and International Cooperation on Saturday, accompanied by the minister, Sahar Nasr, and pr...
President Abdel Fattah El Sisi Meets With the President of the World Bank Group
President Abdel Fattah El Sisi Meets With the President of the World Bank Group 5/4/2019 - The President congratulated Mr. Malpass for assuming his new post and expressed his appreciation for choosing Egypt to be among the first countries to visit. The President confirmed the keenness to co...
Investment Minister, WB Discuss Details of New Project Worth $200 Mln
5/4/2019 - Investment Minister Sahar Nasr and President of the World Bank Group David Malpass revealed the details of a new project to support the entrepreneurs and small and medium-sized enterprises (SMEs).
Environment Minister, Chinese CMEC Company's Delegation Discuss Bilateral Cooperation
5/4/2019 - Environment Minister Yasmin Fouad had a meeting with a delegation of the Chinese company "CMEC" on boosting bilateral cooperation in the economic, environmental and social domains.

During the...

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