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Financials and Investment News in Egypt

Cabinet: Increasing Exports, Investments Led to High Egyptian Pound Rating in 2019
7/27/2019 - The Cabinet's media center said the promotion and increase of exports and investments have prompted media giant Bloomberg to rate the Egyptian pound as the second best performing currency in 2019.
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Egypt, Germany Sign Mou to Deepen Domestic Manufacturing of Smart Meters
7/27/2019 - The Arab Organization for Industrialization (AOI) has signed a Memorandum of Understanding (MoU) with Dell GmbH of Germany to deepen the domestic manufacturing of smart meters and make good use of the...
EAPD Program for African Media Personnel Wrapped Up in Cairo
7/28/2019 - A special program organized by the Egyptian Agency of Partnership for Development (EAPD) on "media and sustainable development in Africa", wrapped in Cairo .

As part of the EAPD program, whic...
Dollar Exchange Rate Continues Downward Trend at Private Banks in Egypt
7/29/2019 - The US dollar exchange rate maintained its downward trend during transactions at private banks .

The dollar value has dropped about 1.31 pound since the start of the year.

At the Nat...
Egypt to Form Panel to Amend VAT Law, Finance Minister Says
7/29/2019 - Egypt will form a committee to amend its value-added tax law, Finance Minister Mohamed Maait told reporters , without specifying what the changes may be.

The VAT law is part of a reform progr...
PM Follows Up Progress in Governorates' Free Zones
7/29/2019 - Prime Minister Mostafa Madbouli chaired a meeting with Investment Minister Sahar Nasr and other officials, where they discussed the latest developments made in establishing free and investment zones ...
Euromoney to Hold Annual Conference in Egypt Next September
7/29/2019 - The global Euromoney Conferences said it would organize its annual conference in Egypt on September 9-10 with the participation of Finance Minister Mohamed Maait.

In a press statement, the fi...
Mamish: Sokhna Port Undergoing Largest Expansion Process at EGP 10bn Cost
7/30/2019 - Head of the Suez Canal Authority and the Suez Canal Economic Zone (SCZone) Mohab Mamish said that the port of Sokhna is undergoing its largest ever expansion process at a cost of 10 billion pounds.
PM Inaugurates Workshop on Fighting Money-Laundering
7/30/2019 - Prime Minister Moustafa Madbouli inaugurated an annual workshop meant to hone skills in the field of countering money-laundering.

The workshop also focuses on enhancing potentials to deal w...
Egypt's Economy: Ongoing Challenges
7/31/2019 - The IMF said it is happy with the results of the government’s economic reform programme, but limited foreign investment and increasing debt are problems still facing the economy.

The Internat...
Egypt's M2 Money Supply Up 11.85% Year-on-Year in June: Central Bank
Egypt's M2 Money Supply Up 11.85% Year-on-Year in June: Central Bank 7/31/2019 - Egypt’s M2 money supply rose 11.85% year-on-year in June, data from the central bank showed .

The money supply stood at 3.864 trillion Egyptian pounds ($234 billion) as of the end of June, up...
African, German Officials Hail Egypt's Economic Performance as 'A Model to Follow'
7/31/2019 - Participants from Africa and Germany, who addressed a recent conference organised in Germany by the Association for Free Research and International Cooperation (AFRIC) , lauded Egypt's economic perfor...
Egyptian Minister of Military Production, Ukrainian Amb. Review Bilateral Cooperation
8/1/2019 - Egyptian Minister of Military Production Mohamed Saeed el Assar had talks on Thursday with Ukrainian Ambassador in Cairo Yevhen Mykytenko on means of promoting bilateral cooperation.

In a s...
Egypt Maintains Customs Exchange Rate at EGP 16 per Dollar for August
8/1/2019 - Egypt will keep its customs exchange rate steady at EGP 16 to the dollar for August, the finance ministry said in a statement late .

Egypt introduced a monthly fixed customs exchange rate i...
Shares in Egypt's Qalaa Holdings Slide on Diluted Refinery Stake
8/1/2019 - Shares in Egypt’s Qalaa Holdings, one of the country’s largest investment companies, fell by nearly 10% after it said that its stake in a new refining company had been reduced.

Qalaa said on...
Egypt, Tanzania Discuss Boosting Cooperation in Aviation Services
8/2/2019 - Chairman of EgyptAir Holding Company Ahmed Adel discussed in a meeting with a delegation from Air Tanzania means of boosting bilateral cooperation in aviation services, as well as the possibility of ...
Egypt's Finance Ministry Auctions T-Bills worth EGP 19 Bln
8/2/2019 - The Finance Ministry auctioned treasury bills at a total value of EGP 19 billion.

In an online statement, the ministry said it sold 182-day T-bills worth EGP 9.2 billion with an average yiel...
CBE Launches Fresh Standard for Risk-Free Interest Rate
CBE Launches Fresh Standard for Risk-Free Interest Rate 8/3/2019 - he Central Bank of Egypt (CBE) launched a fresh standard for determining a risk-free interest rate.

The standard was developed in cooperation with the European Bank for Reconstruction and D...
CBE Partakes Meeting over Developing Banking Sector in Africa- Bankers
8/3/2019 - Governors of African central banks praised on Saturday efforts exerted by the Central Bank of Egypt (CBE) in support of the banking sector in Africa last year.

The governors made the remarks ...
Egypt's CBE Chosen as AACB Vice-President For North Africa
Egypt's CBE Chosen as AACB Vice-President For North Africa 8/3/2019 - The Association of African Central Banks (AACB) has chosen the Central Bank of Egypt (CBE) to be the vice-chairperson of the association for the Northern Africa sub-region for the coming session 2019-...

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