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Financials and Investment News in Egypt

Egypt's Non-Petroleum Exports Hit $13 Bln in 1st Half of 2019
8/16/2019 - Egypt’s non-petroleum exports registered $13.037 billion in the first half of 2019, the General Organization for Export and Import Control (GOEIC) said in a report .

The Agricultural Expor...
EGX Gains EGP 6.3 Bln in 2 Sessions
EGX Gains EGP 6.3 Bln in 2 Sessions 8/16/2019 - The Egyptian Exchange (EGX) indexes posted gains amounting to EGP 6.3 billion during this two-session week.

The market capital increased 0.9 percent, hitting EGP 752.5 billion, compared to EG...
Finance Ministry Auctions EGP 19 Bn Treasury Bills
8/16/2019 - The Finance Ministry auctioned Treasury bills at a total value of EGP 19 billion.

In a statement, the ministry said it auctioned 182-day T-bills for EGP 9.25 billion with an average yield o...
Egypt's Industrial Investment Map to be Available Online as of September 1
8/16/2019 - Head of the Industrial Development Authority Magdi Ghazi stressed that the industrial investment map will be available online to all investors as of September 1.

Ghazi said the map is the fi...
Sisi Orders Launching Portal of Industrial Investment Map in September
Sisi Orders Launching Portal of Industrial Investment Map in September 8/16/2019 - President Abdel Fattah El Sisi directed directed officials to launch a government portal for the unified industrial investment map in September.

Sisi gave the directives during a meeting with...
Egypt Aims to Cut Debt-to-GDP Ratio to 77.5% By 2022: Finance Ministry
8/17/2019 - Egypt’s finance ministry is targeting a debt-to-GDP ratio of 77.5 percent by 2020, which would be a lower rate than in 2011.

The debt-to-GDP ratio was reduced from 108 percent by the end of...
1 Billion People Worldwide Lack Basic ID Credentials: World Bank
8/17/2019 - A recent report released by the World Bank reveals that an estimated one billion people worldwide do not have any basic ID documents, including as many as one in four children and youth whose births h...
Bourse Gains EGP 5.3 Bn
8/18/2019 - The Egyptian Exchange (EGX) indexes posted collective gains 18/8/2019, backed by purchases of local investors, against sales operations by domestic, Arab and foreign institutions.

The market ...
Egypt's Non-Petroleum Exports Hit $13 Bln in 1st Half of 2019
8/18/2019 - Egypt’s non-petroleum exports registered $13.037 billion in the first half of 2019, the General Organization for Export and Import Control (GOEIC) said in a report

The Agricultural Export Co...
EGX Gains EGP 6.3 Bln in 2 Sessions
8/18/2019 - The Egyptian Exchange (EGX) indexes posted gains amounting to EGP 6.3 billion during this two-session week.

The market capital increased 0.9 percent, hitting EGP 752.5 billion, compared to EG...
Finance Ministry Auctions EGP 19 Bn Treasury Bills
8/18/2019 - The Finance Ministry auctioned Treasury bills at a total value of EGP 19 billion.

In a statement, the ministry said it auctioned 182-day T-bills for EGP 9.25 billion with an average yield of ...
Egypt Will Become One of World's Fastest-Growing Economies
8/19/2019 - Prime Minister Mostafa Madbouli reviewed a report issued by the Center for International Development (CID) at Harvard University that expected Egypt to become one of the fastest-growing economies in ...
Gov't Plans to Restore Global Status of Egyptian cotton - PM
8/19/2019 - Prime Minister Mostafa Madbouli stressed that the country shows a great interest in developing and supporting the textile sector as well as planting and selling the Egyptian cotton.

The Egy...
Egypt Introducing Amendments to Mineral Wealth Law: Investment Minister
Egypt Introducing Amendments to Mineral Wealth Law: Investment Minister 8/19/2019 - Egyptian Investment Minister Sahar Nasr announced new amendments to the mineral wealth law no. 198/2014.

The new amendments, according to Nasr, includes legislative reforms that aim to fac...
Seoul Aims to Sign Free Trade Deal with Cairo: S. Korean Amb
8/19/2019 - South Korean Ambassador in Egypt Yoon Yeocheol said that his country is keen on boosting cooperation with Egypt in all fields and concluding a free trade deal with Cairo.

He stressed that bil...
AOI Inks Mou With US Communications Giant
8/20/2019 - The Arab Organization for Industrialization (AOI), August 20,2019, signed a memorandum of understanding (MoU) with global communications company ADTRAN Inc.

Under the signed memo, the US corp...
Egypt Amongst The Fastest Growing Economies
8/20/2019 - The Ministry of Finance confirms that the report of the «Harvard Foundation for International Development», which projects that the annual growth of the Egyptian economy is 6.8% until 2027 in averag...
Egypt's MSMEDA Pumps EGP 2.8 Billion to Support Micro, Small Enterprises in H1 2019
8/20/2019 - Egypt's Small and Medium Enterprises Development Agency (MSMEDA) said it has pumped in the first half of 2019 a sum of EGP 2.8 billion to support around 110,000 micro and small enterprises, which in t...
Assets and Reserves of Egyptian Banks Abroad Hit $19 Billion in July: CBE
8/20/2019 - Assets and reserves of Egyptian banks abroad hit $19 billion last month, a record figure compared to around $16 billion in June, according to an official source at the Central Bank of Egypt.

...
Egypt's Banque Du Cairo Expects to Sell Minority Stake by Early 2020
8/20/2019 - The head of Egypt’s state-owned Banque du Caire told reporters that he expects to sell 30-40% of the bank by the end of 2019 or in early 2020.

A deal to sell the bank was cancelled in 2008 an...

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