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Financials and Investment News in Egypt

Egypt, Belarus Ink Coop. Deals At End of 6th Joint Committee Session
9/6/2019 - Egypt and Belarus signed the final protocol of the 6th session of the Egyptian-Belarusian committee for trade, economic, scientific and technical cooperation in Belarus.

The protocol was si...
PM Directs Officials to Exchange Toktoks with Safe, Licensed Vehicles
9/6/2019 - Prime Minister Mostafa Madbouli directed officials to exchange Toktoks (rickshaw vehicles) with safe and licensed vehicles like the 'minivan' that uses natural gas.

The Ministry of Finance an...
EGX Gains EGP 3.1 Bln Over Past Week
EGX Gains EGP 3.1 Bln Over Past Week 9/6/2019 - The Egyptian Exchange (EGX) indexes gained EGP 3.1 billion over the past week, with the market capital increasing 0.4 percent to EGP 773.3 billion, compared to EGP 770.2 billion the previous week.
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Dollar Price Down at Egypt's Major Banks
9/6/2019 - The US dollar exchange rate maintained its downward trend during transactions at major banks , dropping by more than EGP 140 piasters since January.

At the National Bank of Egypt and Banque...
Egypt, Geely Sign Mou for Producing Electric Cars
9/7/2019 - Egypt’s Minister of State for Military Production Mohamed El-Assar witnessed Friday the signing ceremony of a MoU between the National Organization for Military Production and Chinese Geely Company fo...
PM Opens New Investor Services Center in Minya
9/8/2019 - Prime Minister Moustafa Madbouli opened the Investor Services Center in Minya governorate.

Minister of Investment and International Cooperation Sahar Nasr and several state ministers accompa...
CBE Governor to Assume Duties as Chairman of AFI Board of Directors
CBE Governor to Assume Duties as Chairman of AFI Board of Directors 9/8/2019 - Governor of the Central Bank of Egypt (CBE) Tarek Amer will assume his duties as the new chairman of the Alliance for Financial Inclusion (AFI) Board of Directors .

Lobna Helal, the CBE deput...
CBE Governor to Assume Duties as Chairman of AFI Board of Directors
CBE Governor to Assume Duties as Chairman of AFI Board of Directors 9/8/2019 - Governor of the Central Bank of Egypt (CBE) Tarek Amer will assume his duties as the new chairman of the Alliance for Financial Inclusion (AFI) Board of Directors .

Lobna Helal, the CBE deput...
Egypt’s Increased Dependence on Imports will Raise Budget Deficit: City Bank official
9/9/2019 - Managing director and head of Emerging Markets Economics at Citi Bank David Lupin said that if Egypt continues to rely on cheaper imports, its budget deficit will go up, asserting that policy makers f...
Egypt has large room for growth in financial inclusion: Fawry co-founder
9/9/2019 - Co-founder of Fawry for Banking and Payment Technology Mohamed Okasha said the successful offering of Fawry on the EGX gives a positive massage for investors that the Egyptian stock market is a signif...
Egypt’s Digital Exports Hit $3.6 Million This Year: Minister of Communications
9/9/2019 - Egypt’s Minister of Communications and Information Technology Amr Talaat said that he is optimistic about the future of Egypt’s economy, especially in the information and communication technologies (I...
Egypt’s Sovereign Wealth Fund to Start Operation In October
9/9/2019 - Egypt’s Minister of Finance Mohamed Maait said Egypt was going to establish a new pension fund in addition to the sovereign wealth fund.

He told on the sidelines of the Euromoney Egypt Confe...
Egypt Plans $3-7 Bln of International Bonds in FY 2019-2020: Finance Minister
9/9/2019 - Egypt intends to issue international bonds worth $3 billion $7 billion in the 2019-2020 financial year, Finance Minister Mohamed Maait said .

Egypt is also interested in diversifying the curr...
Private Sector Is Egyptian Economy's Backbone: Finance Minister
9/9/2019 - Egypt's Minister of Finance Mohamed Maait said that the private sector is the backbone of Egypt’s economy and that the ministry is working on removing any obstacles that investors and businessmen are ...
Egypt's E-Finance Set to be offered in IPO by End of 2019
9/9/2019 - Egypt’s first fin-tech company, e-finance, said it would be offered in an initial public offering (IPO) by the end of the year, Ibrahim Sarhan, head of e-finance said at the Euromoney Egypt Conference...
Private Sector Is Egyptian Economy's Backbone: Finance Minister
9/9/2019 - Egypt's Minister of Finance Mohamed Maait said that the private sector is the backbone of Egypt’s economy and that the ministry is working on removing any obstacles that investors and businessmen are ...
Fifth Session of Arab-Japanese Economic Forum Kicks off in Cairo
9/9/2019 - The fifth session of the Arab-Japanese economic forum kicked off in Cairo as part of efforts to boost Arab-Japanese economic cooperation, promote for Arab-Japanese investment markets and review inves...
MOU Inked to Export Egyptian Dates to China
9/9/2019 - Egypt and China has initally inked a memorandum of understanding (MOU) on exporting fresh Egyptian dates to China.

This comes within efforts exerted to develop the Egyptian exports especially...
Trade Minister Discusses With Japanese Delegation Ways of Enhancing Economic and Trade Cooperation
9/10/2019 - Minister of Trade and Industry, Amr Nassar affirmed Egypt's keenness to make a qualitative leap in the level of economic and trade relations with Japan, especially in light of the successful visit of ...
Sisi Calls For Offering More Finance For Smes
9/10/2019 - President Abdel Fattah El Sisi followed up on the performance of the Micro, Small and Medium Enterprise Development Agency (MSME).

Sisi directed the MSME to provide funds necessary for addin...

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