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Financials and Investment News in Egypt

Trade Exchange Between Egypt, Nile Basin Countries Increased By 25.4% in 2018
11/24/2019 - The volume of trade exchange between Egypt and the Nile Basin countries reached dlrs 1.872 bn in 2018, compared to dlrs 1.493 bn in 2017, with an increase of 25.4%, according to the Central Agency for...
CAPMAS:Trade exchange bet. Egypt, CEN-SAD rose by 11.9% in 2018
11/24/2019 - The volume of trade exchange between Egypt and the Community of Sahel-Saharan States (CEN-SAD) increased by 11.9% during 2018, recording $4.232 billion, compared to $3.783 billion in 2017, the Central...
Egypt Witnesses Remarkable Growth in Agriculture, Industry: Sisi
11/24/2019 - Egypt is witnessing a remarkable growth at the agricultural and industrial levels, President Abdel Fattah El Sisi said.

This growth has been achieved in spite of the difficulty of luring inve...
CBE Launches Initiative for E-Collection of Mortgage Installments
CBE Launches Initiative for E-Collection of Mortgage Installments 11/25/2019 - The Central Bank of Egypt (CBE), in cooperation with the Social Housing Fund, launched an initiative to collect the installments of mortgage and home loans electronically with the partnership of mort...
Banque Misr Signs €500 Mln Credit Facility Deal With EIB for Financing Smes
11/25/2019 - Banque Misr and the European Investment Bank (EIB) signed a credit facility agreement worth 500 million euros to be used in financing the small and medium-sized enterprises (SMEs).

The deal ...
Central Banks Must Reinforce Their Independence to Ensure Their Sound Operation: IMF
Central Banks Must Reinforce Their Independence to Ensure Their Sound Operation: IMF 11/26/2019 - Independence is the key principle in ensuring the sound operation of central banks all over the world given their role in achieving price-stability, according to a research paper released by the Inte...
Fitch Keeps Egypt's Credit Rating at B+, With a Stable Forecast
11/26/2019 - Fitch Ratings announced on Monday that it is maintaining Egypt's long-term foreign-currency (LTFC) Issuer Default Rating (IDR) at a ‘B+' with a stable outlook.

Fitch said that the rating is...
President Sisi Opens July 3rd Tunnels in Southern Port Said
11/26/2019 - President Abdel Fattah El Sisi opened July 3rd tunnels in southern Port Said.

The project is one of the major national projects in Egypt connecting Port Said with Sinai.

The pre...
Sisi: We Work on Establishing Msmes to Curb Imports
Sisi: We Work on Establishing Msmes to Curb Imports 11/26/2019 - President Abdel Fattah El Sisi said Tuesday that the state has been working on establishing micro, small and medium-sized enterprises (MSMEs) to display their products before businessmen and investors...
Sisi: 300,000 Operations Conducted In One Year at EGP 2 Billion
Sisi: 300,000 Operations Conducted In One Year at EGP 2 Billion 11/26/2019 - President Abdel Fattah El Sisi said the State is focusing in the current stage on the health and economic sectors.

While opening several development projects via video conference, Sisi interr...
Sisi: State Spending Huge Funds for Preparing Economic Zone Lands
Sisi: State Spending Huge Funds for Preparing Economic Zone Lands 11/26/2019 - President Abdel Fattah El Sisi said the state is spending huge funds on economic zone lands to encourage investments.

While opening infrastructure projects in Port Said via video conference, ...
Egyptian Non-Petroleum Imports Fall in September 21% Y
11/26/2019 - The General Organization for Import and Export Control (GOEIC) on Tuesday said that Egyptian non-petroleum imports went down in September by 21 percent.

In a statement, the GOEIC said the val...
SAP, Microsoft Win Tender To Implement Digital Transformation at 60 Public Business Sector Companies
11/27/2019 - Egypt’s Ministry of the Public Business Sector has announced that SAP and Microsoft companies have won the tender to implement digital transformation in companies under the ministry.

The te...
Egypt Signs "Yaoundé Declaration" on Tax Transparency: FM
11/27/2019 - Egypt has signed the "Yaoundé Declaration" during the 10th Anniversary Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes in Paris, the Ministry of Finance announ...
Egypt's Exports of Leather, Footwear Hit $62.9 Mln in 2019
11/28/2019 - Egypt's exports of leather, leather products and footwear declined by 21.9 percent for the period between January and September, registering $62.9 million, compared to $80.6 million for the same perio...
Finance Ministry Auctions T-Bills worth EGP 18.7 Bln
11/29/2019 - The Ministry of Finance auctioned treasury bills at a total value of EGP 18.75 billion.

In an online statement, the ministry said it sold 182-day T-bills worth EGP 9.25 billion, with an av...
African-Arab Economic Conference Asserts Support for Sisi's Efforts
African-Arab Economic Conference Asserts Support for Sisi's Efforts 11/29/2019 - The first African-Arab economic conference underscored its support for President Abdel Fattah El Sisi in his efforts to boost cooperation among African and Arab states, as well as among the African y...
Egypt Has Best Economic Growth in 11 Years
11/30/2019 - Egypt achieved its best economic growth in 11 years, despite the global economic slowdown and international and regional instability, President Abdel Fattah El Sisi said.

In a speech delive...
Minister: Public, Private Sectors Two Wings of Success
Minister: Public, Private Sectors Two Wings of Success 11/30/2019 - Minister of Investment Sahar Nasr asserted that public private partnerships (PPPs) have made a great achievements in Egypt, especially in Benban Solar Park in Aswan.

Nasr’s remarks came dur...
Finance Minister Urges Increasing British Investments in Egypt
11/30/2019 - Finance Minister Mohamed Maait has called on major British investment institutions and businessmen to increase their investments in Egypt.

Maait's call came during his participation in a di...

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