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Financials and Investment News in Egypt

Egypt's Net Foreign Reserves at $44.218 Bln at End-April: C.Bank
Egypt's Net Foreign Reserves at $44.218 Bln at End-April: C.Bank 5/5/2019 - Egypt’s net foreign reserves stood at $44.218 billion at the end of April, up from $44.11 billion at the end of March, the central bank said. Foreign reserves stood at $44.303 billion at end-April 20...
Egypt Non-Oil Private-Sector Activity Expands For First Time in 8 Months -PMI
5/5/2019 - Egypt’s non-oil private-sector activity expanded for the first time in eight months in April, and saw its highest reading since August 2015, a survey showed .

The Emirates NBD Egypt Purchasin...
Foreign Currency Reserves Rise to $44.218 Bln by End of April – CBE
5/6/2019 - The Central Bank of Egypt (CBE) announced that the country’s foreign currency reserves went up by $106 million.

The foreign currency reserves reached $44.218 billion at the end of April, co...
Ready-Made Garments Exports Record $406 Mln in Q1 2019
5/6/2019 - Ready-made garments exports have increased two percent in the first quarter of 2019 to reach $406 million compared to $397 million in the same period of 2018, the Textile Export Council said in a fres...
Egypt Targets 5.6% Growth Rate by End of FY2018/19: Finance Minister
5/7/2019 - Egypt's Minister of Finance Mohamed Maait said during a press conference in Cairo that the Egyptian economy would achieve a 5.6 percent growth rate by the end of current fiscal year (2018/19).

...
Egypt, World Bank Sign New Cooperation Agreement to Support Smes
Egypt, World Bank Sign New Cooperation Agreement to Support Smes 5/7/2019 - Egypt's Minister of Investment and International Cooperation Sahar Nasr said that cooperation between the World Bank and the Small and Medium Enterprises Development Authority has reached $1 billion f...
Egypt Expects IMF Loan Final Tranche in July: Deputy Finance Minister
5/7/2019 - Egypt expects, in principle, to receive the final tranche of about $2 billion of its IMF loan in July, Deputy Finance Minister Ahmed Kouchouk said .

The International Monetary Fund offered ...
Egypt to Cancel Planned Rise in Stock Exchange Duty
Egypt to Cancel Planned Rise in Stock Exchange Duty 5/7/2019 - Egypt's finance ministry has drafted a law cancelling a planned increase in a tax on stock exchange transactions, keeping it at EGP 1.5 per 1,000, the ministry said .

The increase to EGP 1.75...
Assar, Italian Amb. Discuss Bilateral Cooperation
5/7/2019 - State Minister of Military Production Mohamed el Assar discussed with Italian Ambassador in Cairo Giampaolo Cantini means of boosting cooperation between Italian companies and companies affiliated to ...
Egypt's Foreign Debt Rises to $96.6 Billion at End of 2018: Central Bank
Egypt's Foreign Debt Rises to $96.6 Billion at End of 2018: Central Bank 5/8/2019 - Egypt’s foreign debt rose to $96.6 billion by the end of 2018, up16.5 percent from the previous year, central bank figures showed .

In December 2017, Egypt’s foreign debt stood at $82.9 billi...
Egypt Expects 5.8 Pct Economic Growth in Q4
5/8/2019 - Egypt’s economy is expected to grow at 5.8 percent in the fourth quarter of the 2018/19 financial year, the Planning Minister Hala El-Saeed said in a statement.

The country registered economi...
Egypt Headline Inflation Eases to 13.0 in April: CAPMAS
5/9/2019 - Egypt’s annual urban consumer price inflation eased to 13.0 percent in April from 14.2 percent in March, official statistics agency CAPMAS said .

“The figures are lower than our expectations,...
New Suez Canal One of Most Important Waterways - Mamish
5/10/2019 - Chairman of the Suez Canal Authority (SCA) and the Suez Canal Economic Zone (SCZone) Mohab Mamish said that the project of the New Suez Canal succeeded in improving the offered navigation services.
CBE: Annual Inflation Rate Falls to 8.1% in April
CBE: Annual Inflation Rate Falls to 8.1% in April 5/10/2019 - The Central Bank of Egypt (CBE) announced that Egypt's inflation rate declined to 8.1 percent in April 2019 from 8.9 percent in the same period last year.

On a monthly basis, core inflatio...
Moody's: Egypt's Economy Showed High Shock-Absorption Capacity In 2018
5/10/2019 - Moody's Investors Service has said Egypt's economy demonstrated a high shock-absorption capacity during the second half of 2018.

In its report released the credit rating agency ascribed impr...
Cabinet Approves Bill to Amend Some Provisions of Stamp Tax Law
5/10/2019 - The cabinet has approved a bill to amend some provisions of the Stamp Tax Law No. 111/1980.

The amendment, okayed during a cabinet meeting, stipulates imposing the same proportional stamp dut...
Protocol Signed for Training Banking Sector’s Staffers on Artificial Intelligence
5/11/2019 - Governor of the Central Bank of Egypt (CBE) Tarek Amer and Communications Minister Amr Talaat witnessed the signing ceremony of a cooperation protocol on training the banking sector staffers about in...
Foreign Cash Flows Hit $24.7 Bln Since Jan. – CBE
5/14/2019 - The Central Bank of Egypt (CBE) said foreign cash flows from different sources have hit a record, registering $24.7 billion since January.

A CBE official source said the US dollar exchange...
UAE Investments in Egypt Exceed $6.6 Bln: Emirati Ambassador
5/14/2019 - UAE Ambassador in Cairo Jumaa Mubarak Al-Junaibi said his country's direct investments in Egypt exceeded $6.6 billion in 2018.

Meeting UAE investors in Egypt, the ambassador added that eco...
52 Vessels Transit Suez Canal
5/17/2019 - Fifty-two ships transited the Suez Canal o, with a total cargo of 3.9 million tons.

The south-bound convoy included 20 vessels carrying 1.8 million tons and the north-bound convoy included 32...

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