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Financials and Investment News in Egypt

AOI Plans to Resume Cooperation Protocol with Germany Company
5/25/2019 - Head of the Arab Organization for Industrialization (AOI) Abdel Mon'em el Tarras affirmed the importance of benefiting from the distinguished German know-how in the domain of manufacturing, in the lig...
Egypt's Non-Petroleum Exports To Indonesia Rise By 19% in 2018
5/26/2019 - Egypt's non-petroleum exports to Indonesia increased by 19%, reaching 138 million dollars in 2018, the Egyptian trade office in Jakarta said in a report May 26,2019.
Egyptian imports from I...
Trade Exchange Between Egypt and Algeria Hits $938 Million
5/26/2019 - The trade exchange between Egypt and Algeria hit $938 million last year, the Egyptian Commercial Service Authority said .

Egyptian exports to Algeria are estimated at $550 million and include...
Dollar Exchange Rate Continues Downward Trend afft Egypt's Major Banks
5/26/2019 - 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 two piastres, recording EGP 16.83 for...
Sisi Orders Developing Mechanisms To Promote Investment Opportunities
5/28/2019 - President Abdel Fattah El Sisi ordered developing promotion mechanisms of available investment opportunities especially in mega national projects.

The president's remarks came during his meet...
UK Seeks To Establish New Partnerships With Egypt
5/28/2019 - British Secretary of State for International Trade Liam Fox said the United Kingdom is looking forward to forming partnerships with Egypt to promote trade ties among London, Cairo and North Africa.
Coop. Between AOI, CATIC to Develop K8E Training Aircraft
5/28/2019 - The Head of the Arab Organization for Industrialization (AOI) Abdel Mon'em el Tarras stressed the importance of benefiting from the unique Chinese expertise in the fields of industrialization.

...
Egypt To Be One of Top 15 Economies 2050
5/29/2019 - British Secretary of State for International Trade Liam Fox expected Egypt to be one of the top 15 world economies by 2050.

In statements at the end of his visit to Egypt he said "now is a gr...
UK's CDC Given Approval To Lend Tier 2 Capital To Egyptian Banks
5/29/2019 - CDC, the UK’s development finance institution, announced that it has been granted approval by the Central Bank of Egypt to provide Tier 2 capital to the Egyptian banking sector.

The approval ...
UK: Egypt to Be One of Top 15 Economies 2050
5/29/2019 - British Secretary of State for International Trade Liam Fox expected Egypt to be one of the top 15 world economies by 2050.

In statements at the end of his visit to Egypt , he said "now is a ...
Remittances of Egyptian Expats Up 23.3% in March - CBE
5/31/2019 - Remittances of Egyptian expats increased 426.1 million in March to $2.3 billion, said the Central Bank of Egypt (CBE).

Compared to $1.8 billion in February, the surge in March was estimated...
Egypt, Japan Sign 7.5-Million-Pound Grant
5/31/2019 - Egypt and Japan signed a 7.5-million-pound grant to back Egyptian-Japanese management unit, the Education Ministry said in a statement .

The grant comes as part of the Egyptian-Japanese partn...
Egypt Pays Back $406 Mln in Debt to Afreximbank
6/2/2019 - Egypt paid back $406 million in debt to the African Export-Import Bank (Afreximbank) in May, the Central Bank of Egypt announced.

According to an official statement, the CBE said it has repai...
Egypt to Auction EGP 146.5 Bln in T-Bills, Bonds in June
6/2/2019 - Egypt is auctioning EGP 164.5 billion worth of treasury bills and treasury bonds in June, the finance ministry said .

The issuing includes EGP 34 billion 91-day T-bills, EGP 35 billion 182-da...
Egypt-Spain trade volume reaches €642.9 mln in Q1 2019
6/3/2019 - The trade volume between Egypt and Spain increased 11.6 percent in the first quarter of 2019 to record €642.9 million, compared to €576.01 million in the same period of 2018.

A fresh repor...
Egypt's cash reserves rise to $44.275 bn by end of May - CBE
Egypt's cash reserves rise to $44.275 bn by end of May - CBE 6/4/2019 - The Central Bank of Egypt (CBE) announced that the country’s cash reserves of foreign currency went up by $57 million to reach $44.275 billion during May. In April the country’s foreign cash reserve ...
Eidul Fitr holiday at EGX and banks starts as of Tuedsay
Eidul Fitr holiday at EGX and banks starts as of Tuedsay 6/4/2019 - The Egyptian Exchange (EGX) and all banks operating in Egypt will be having a five-day holiday as of Tuesday, June 4, 2019 on the occasion of Eidul Fitr (Lesser Bairam) in line with a previous announc...
Volume of Egypt’s non-petroleum exports hit $1.3 billion in April
6/4/2019 - Egyptian non-petroleum exports recorded $1.3 billion in April, the Export and Import Control Authority said.

The authority detailed that during April the country’s exports of food products ...
G20 Agrees to Push Ahead With Digital Tax: Communique
6/8/2019 - Group of 20 finance ministers agreed to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a copy of the bloc’s draft communique obtai...
Public Treasury Authority, Mint Authorities to Be Merged: Finance Ministry
6/8/2019 - The Ministry of Finance said that two bodies affiliated with it, the Public Treasury Authority and the Mint Authority, will be merged into one entity.

The planned body will be named the Min...

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