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Financials and Investment News in Egypt

Finance Ministry Auctions T-Bills worth EGP 18bn
5/17/2019 - The Finance Ministry auctioned treasury bills at a total value of EGP 18 billion.

In an online statement, the Ministry said it sold 182-day T-bills worth EGP 8.75 billion with an average yiel...
Port Said Port Receives Panamanian Ship
5/17/2019 - Port Said port received a 186-meter-long Panamanian tourist ship, known as "Dream Ocean".

The ship is carrying 1,234 tourists from different nationalities.

The ship will dock for ei...
New Banking Bill Introduces Financial Stability Committee
5/18/2019 - A new bill on Egypt's banking sector introduces a committee on maintaining the state's financial stability that will be chaired by the prime minister, a well-placed source with the Central Bank of Egy...
New Banking Bill Introduces Financial Stability Committee
5/18/2019 - A new bill on Egypt's banking sector introduces a committee on maintaining the state's financial stability that will be chaired by the prime minister, a well-placed source with the Central Bank of Egy...
New Banking Bill Requires CBE to Increase Its Capital to EGP 20 Billion
5/18/2019 - A new banking bill that will be referred to the House of Representatives for approval before the end of May requires the Central Bank of Egypt (CBE) to increase its capital to EGP 20 billion, a knowle...
IMF Team Reaches Staff-Level Agreement on 5th Review for Egypt's EFF
5/18/2019 - An IMF mission has reached a staff-level agreement with the Egyptian authorities for the completion of the fifth and the final review of Extended Fund Facility (EFF).

An International Monetar...
AOI Inks Mou with Indian Firm to Cooperate in Manufacturing Security Systems
5/19/2019 - The Head of the Arab Organization for Industrialization (AOI) Abdel Mon'em el Tarras stressed the importance of benefiting from the international expertise to develop security and surveillance systems...
3.7% Growth in Trade Exchange with South Africa: ECS
5/20/2019 - The trade exchange between Egypt and South Africa has achieved a growth of 3.7 percent in 2018, registering 287.8 million USD, compared to 277.5 million USD in 2017, the Egyptian Commercial Service (...
UK's New Middle East Minister Hails Improvement of Egypt's Economy
5/20/2019 - UK's Minister of State for the Middle East at the Foreign and Commonwealth Office Andrew Murrison heaped praise on the notable progress achieved by Egypt's macroeconomic indicators throughout the past...
3.7% Growth in Trade Exchange with South Africa: ECS
5/20/2019 - The trade exchange between Egypt and South Africa has achieved a growth of 3.7 percent in 2018, registering 287.8 million USD, compared to 277.5 million USD in 2017, the Egyptian Commercial Service (...
Egypt's Domestic Liquidity Rises to EGP 3.674 Trillion by End of February: Central Bank
Egypt's Domestic Liquidity Rises to EGP 3.674 Trillion by End of February: Central Bank 5/21/2019 - The Central Bank of Egypt (CBE) said in a report that Egypt's domestic liquidity increased by EGP 220.4 billion by the end of February to register EGP 3.674 trillion.

The report stated that ...
Egypt Keen on Afcfta's Entry into Force - Trade Ministry
5/21/2019 - Egypt's political leadership is keen on fast-tracking steps for the entry into force of the African Continental Free Trade Agreement (AfCFTA) to achieve economic integration and comprehensive strategi...
Fund to Upgrade Banking System to Be Established Under New Bill: CBE Official
5/22/2019 -  A fund to upgrade Egypt's banking system should be established as part of a new bill, an official source with the Central Bank of Egypt told MENA news agency.

The fund will be its own indepe...
Egypt's FRA Doubles Maximum Credit Limit for Micro-Sized Enterprises
5/22/2019 - Egypt’s Financial Regulatory Authority (FRA) has increased the maximum limit of financing provided to micro-sized enterprises from EGP 100,000 to EGP 200,000.

The decision was made to help th...
Egypt, Algeria Discuss Boosting Trade Exchange and Joint Investments
5/22/2019 - Egypt's Ambassador to Algeria Ayman Mosharafa has discussed in a meeting with Algerian Trade Minister Saeed Jalab means of boosting trade exchange and joint investments between the two countries.
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Egypt & Iraq Discuss Means to Boost Joint Cooperation
5/22/2019 - State Minister of Military Production Mohamed Saeed el Assar discussed with Iraqi Ambassador to Egypt Ahmed Nayef al Dulaimi means to boost cooperation in the field of joint industrialization between ...
Bourse Gains EGP 5.1 Bn; All Indexes Up
5/24/2019 - The Egyptian Exchange (EGX) indexes posted collective gains backed by purchases of domestic and Arab institutions and investment funds.

The market capital gained EGP 5.1 billion to reach EGP...
Dollar Exchange Rate Continues Downward Trend at Egypt's Major Banks
5/24/2019 - The US dollar exchange rate continued its downward trend during transactions at major banks .

At the National Bank of Egypt, the dollar rate went down by five piasters recording EGP 16.85 for...
Egypt Ranked 1st in Africa in Fish Farming - Minister
5/24/2019 - Minister of Agriculture and Land Reclamation Ezz El Din Abu Steit said that Egypt's production of fish has increased to 1.8 million tons annually.

Egypt has been ranked first in Africa and ei...
Finance Ministry: Citizens Play Principal Role in Preparing State Budget
5/25/2019 - The average citizen plays a principal role in preparing the state budget, a senior Finance Ministry official said .

Sara Eid, the head of the Finance Ministry’s Fiscal Transparency and Citize...

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