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Financials and Investment News in Egypt

Egypt Embraces Ranking As One of Top Five Growing Economies
8/20/2019 - Egypt’s Minister of Finance Mohamed Maait said that Egypt making it onto the top five list of countries of fastest growing economies until 2027 is proof that Egypt's economic reform program is a succ...
Egypt Sells 610 Mln Euros in Euro-Denominated T-Bills: Central Bank
Egypt Sells 610 Mln Euros in Euro-Denominated T-Bills: Central Bank 8/20/2019 - Egypt sold 610 million euros in one-year euro-denominated treasury bills on Monday at an average yield of 1.49%, data from the central bank showed.

The bank sold 695.10 million euros in a sim...
Sisi To TICAD7: Summit A Key Forum in Support To Africa, Its Development Aspirations
8/20/2019 - The Japanese Foreign Ministry posted on its official website a message by President Abdel Fattah El Sisi on the occasion of holding the Seventh Tokyo International Conference on African Development (...
Egypt amongst the Fastest Growing Economies Confirms the Success of Economic Reform
Egypt amongst the Fastest Growing Economies Confirms the Success of Economic Reform 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...
AOI Inks Mou with US Communications Giant
8/20/2019 - The Arab Organization for Industrialization (AOI), signed a memorandum of understanding (MoU) with global communications company ADTRAN Inc.

Under the signed memo, the US corporation will p...
Egypt Prime Minister Highlights Sisi's Directives to Support Msmes
8/21/2019 - Prime Minister Mostafa Madbouli highlighted the constant directives of President Abdel Fattah El Sisi to support the sector of Micro, Small and Medium-sized Enterprises (MSMEs), as they contribute to...
Egyptian Cabinet Approves Contract for New Terminal in East Port Said
8/23/2019 - The cabinet approved a contract between the Suez Canal Authority and Egyptian company Seco Trans for the construction of a multi-purpose terminal in East Port Said.

The contract will see the...
EGX Gains EGP 6.8 Bln Over Past Week
EGX Gains EGP 6.8 Bln Over Past Week 8/23/2019 - The Egyptian Exchange (EGX) gained EGP 6.8 billion this week as the market capital went up 0.9 percent to EGP 759.3 billion, compared to EGP 752.5 billion in the previous week.

The EGX 30 b...
Egypt's Interest Rates to Be Fixed At 14.25% in 2019, Down to 12.75% in 2020: Forecasts
Egypt's Interest Rates to Be Fixed At 14.25% in 2019, Down to 12.75% in 2020: Forecasts 8/24/2019 - The Central Bank of Egypt (CBE) cut interest rates last week by 1.5 percent, down to 14.25 percent, the first cut in six months. Forecasts had predicted a cut of between 0.5 percent and 1 percent, wh...
Industrial Development Authority Signs Mou with SME Development Agency
8/24/2019 - The head of the Industrial Development Authority (IDA) and the head of the Micro, Small and Medium Enterprise Development Agency (MSMEDA) have signed an MoU to cooperate on promoting plans for industr...
Egypt's New Rate Cuts Are on the Right Track: Head of Egyptian Businessmen’s Association
8/24/2019 - The chairman of the Egyptian Businessmen’s Association, Ali Eisa, said that Egypt’s new interest rates cuts are a logical response to the variables that the domestic and global market are seeing.
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Planning Minister Names New Assistant for Economic Policies
8/25/2019 - Planning Minister Hala el Saeed issued a decision appointing Moushira Karara as her new assistant for economic policies.

Karara will serve in the post for one year.

In a statement ...
Volume of Trade Exchange between Egypt and France Rise By 36.2 Percent in 5 Months: ECS
8/26/2019 - The volume of trade exchange between Egypt and France surged 36.2 percent from January to May 2019 to reach €1.212 billion, compared to €823.7 million in the corresponding period in 2018, the Egyptian...
Remittances from Egyptians Abroad Rose to Around $3 Bln in May: Central Bank
8/27/2019 - Egypt’s remittances from workers abroad rose 43 percent month-on-month in May to around $3 billion, the central bank said in a statement.

The remittances, one of the country’s main sources ...
Egypt's Sawiris Eyes Mining Opportunities At Home with New Law
8/27/2019 - Egyptian billionaire Naguib Sawiris said he intended to invest in gold and copper mining in Egypt but was waiting to see the details of a new mining law designed to attract more investment.

...
Egypt Seeks Boosting Ties with Japanese Business Community
8/27/2019 - Minister of Trade and Industry Amr Nassar said that the Egyptian government is keen on boosting relations with the Japanese business community.

Addressing the Egyptian-Japanese Business and ...
Egypt Sets Up Logistic Center for Engineering Industries in Kigali
8/28/2019 - Head of the Engineering Industries of the Federation of the Egyptian Industries Mohamed al Mohandes said that Egypt and Rwanda will hold talks shortly on setting up a logistical center for engineering...
JETRO Seeks Restoring Africa's Untapped Investments Via TICAD
JETRO Seeks Restoring Africa's Untapped Investments Via TICAD 8/29/2019 - Japan External Trade Organization (JETRO) Chairman Nobuhiko Sasaki said said that his organization seeks to restore un-utilized investment opportunities in the African continent through tapping into ...
Sisi, Japanese Economic min. Discuss Investment Opportunities in Egypt
Sisi, Japanese Economic min. Discuss Investment Opportunities in Egypt 8/29/2019 - President Abdel Fattah El Sisi had talks with Japanese Economy, Trade and Industry Minister Hiroshige Seko on investment opportunities in Egypt and means of boosting bilateral cooperation in the econ...
Egypt's Investment Climate Improved Significantly
8/31/2019 - Egypt’s Minister of Investment and International Cooperation Sahar Nasr said Egypt had managed to drastically improve the investment climate, making the country more appealing to investors, read the i...

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