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Financials and Investment News in Egypt

Egypt & Italy Sign a Protocol on Manufacturing Marble Machinery
10/2/2019 - The Arab Organization for Industrialization (AOI) signed a cooperation protocol with Italy's Breton S.p.A. aiming to localize the manufacturing of marble machinery.

This comes within the fram...
Egypt, Lebanon Agree To Boost Joint Investments
10/2/2019 - Investment and International Cooperation Minister Sahar Nasr asserted the importance of the Egyptian-Lebanese Follow-up Committee as a mechanism for following up the resolutions issued during the prev...
PM Follows Up Efforts of Coordinating Council for Industrial Zones
10/3/2019 - Prime Minister Mostafa Madbouli reviewed the outcome of the actions taken by the coordinating council for industrial areas for the recent period.

This came during a meeting held under the pr...
Cabinet Okays Enacting Law on CBE, Banking System
10/3/2019 - The cabinet approved during its weekly meeting a bill on enacting a law of the Central Bank of Egypt (CBE) and the banking system after considering several observations.

The bill comes withi...
African Investments in Egypt Hit $2.8 Bln, Egypt’s Investments in Africa $10.2 Bln
10/4/2019 - African investments in Egypt are worth $2.8 billion and Egypt’s investments in Africa are worth $10.2 billion, with $1.2 billion of that amount added in 2018, Planning Minister Hala El-Saeed said .
1,523 Ships Transited Suez Canal in September
10/7/2019 - Up to 1,523 ships, carrying about 98.9 million tons crossed the Suez Canal from both directions in September, compared to 1,501 ships during the same month in the past year, Chairman of the Suez Canal...
Swiss Investments in Egypt Reach 700 Million Swiss Francs in The Past 40 Years
10/7/2019 - The Swiss Embassy in Cairo announced that the volume of Swiss investments in Egypt over the past 40 years has hit 700 million Swiss francs.

These investments are placed in more than 200 proje...
Egypt's Budget Deficit Declined to EGP 39 Bln in July
10/8/2019 - Egypt's budget deficit declined to EGP 39.172 billion in July 2019 compared to EGP 51.514 billion in the same month of 2018, the finance ministry said .

The budget deficit declined by 0.6 per...
65 Egyptian Investors Abroad to Attend 'Egypt Can' Conference Next Week
10/8/2019 - The organising committee of the fifth “Egypt Can” conference, chaired by Migration Minister Nabila Makram and Planning Minister Hala Al-Saeed, have released the final agenda of the conference, titled ...
Egypt, France Ink Two Grant Agreements Worth €71 Mln
10/8/2019 - Egypt’s ministers of investment and electricity inked two grant agreements with the French Development Agency (FDA) that aim to boost Egypt’s energy and natural gas sectors with a total of €71 millio...
Egypt-Korea Business Council Holds First Meetings in Cairo
10/8/2019 - After being restructured, the Egyptian-Korean Business Council has held its first session's meetings in Cairo, co-chaired by Minister of Trade and Industry Amr Nassar and Kim Young-sang.

"T...
Egypt-Portugal Investments Hit Over $450 Million – FEDCOC
10/8/2019 - President of the Federation of the Egyptian Chambers of Commerce (FEDCOC) Ibrahim El Arabi said the volume of investments between Egypt and Portugal amounted to more than $450 million.

He m...
UAE Leads MENA Region, Ranks 25th Globally in Global Competitiveness Report 2019
10/9/2019 - The UAE ranked first in the Arab World and 25th globally in the Global Competitiveness Report, 2019, released by the World Economic Forum, Davos,

According to the report, which assesses the ...
Egypt Improves One Spot to 39th Rank in 2019 Global Competitiveness Index
10/9/2019 - Egypt ranked 39th in the Global Competitiveness Index, up from 40th in 2018, and ninth among Arab countries, according to the Global Competitiveness Report for 2019 issued by the World Economic Forum....
EGX's Trading Fees and Commissions Decrease Considered: FRA Deputy Chairman
EGX's Trading Fees and Commissions Decrease Considered: FRA Deputy Chairman 10/9/2019 - Deputy Chairman of the Financial Regulatory Authority (FRA) Khaled El-Nashar said on Tuesday that the Egyptian Exchange (EGX) is considering decreasing its trading’s fees and commissions in the sake o...
Egypt, Belarus Mull Means For Encouraging Local Motor Industry
10/9/2019 - Minister of State for Military Production Mohamed Saeed el Assar discussed with 'Minsk Motor Plant' of Belarus means of encouraging the local motor industry in cooperation with Helwan Diesel Engines C...
Egypt's AOI Signed Mou with Two Russian Companies
10/10/2019 - The Arab Organization For Industrialization (AIO) signed a memorandum of understanding with the Russian companies of Almaz and Azimut.

Trade and Industry Minister Amr Nassar, his Russian cou...
Sisi: Egypt Keen to Enhance Economic Ties with S. Korea
Sisi: Egypt Keen to Enhance Economic Ties with S. Korea 10/10/2019 -  President Abdel Fattah El Sisi said that Egypt aims to open new horizons to boost trade and economic relations with South Korea.

The president reiterated that Cairo is also keen to make use ...
Egypt Renews Import Duties on Steel Rebar, Iron Billets
10/11/2019 - Egypt has re-imposed customs tariffs of 25 percent on steel rebar and 16 percent on iron billets for three years, the trade and industry ministry said .

The tariffs will take effect on Satu...
CBE: Annual Inflation Rate Falls To 2.6% in September
CBE: Annual Inflation Rate Falls To 2.6% in September 10/11/2019 - The Central Bank of Egypt (CBE) announced that Egypt's annual inflation rate declined to 2.6 percent in September 2019, down from 4.9 percent in August of the same year.

In a statement rele...

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