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Financials and Investment News in Egypt

Egypt, Saudi Arabia to Sign Power Linkage Contracts in May
2/3/2020 - Egypt will sign power linkage contracts with Saudi Arabia on 30 May, Chairperson of the board at the Egyptian Electricity Transmission Company (EETC) Sabah Mashali has said.

This falls within...
Egypt's Non-Petroleum Exports Reach $25.49 Bn in 2019
2/4/2020 - Egypt's non-petroleum exports increased in 2019, reaching 25.49 billion dollars compared with 25.14 billion the year before, said the General Organization For Export and Import Control (GOEIC) .
Afdb Expects Egyptian Growth Rate Up To 5.8% In 2020
2/4/2020 - The African Development Bank expected the Egyptian economic growth rate to inch up to 5.8 percent in 2020 and to 6 percent in 2021 in comparison with 5.6 percent in 2019.

In a report on Afr...
Egypt, Mitsubishi Motors Discuss Joint Cooperation in Auto Industry
2/5/2020 - Chairman of the Arab Organization for Industrialization "AOI" Abdel Monem El Tarras had talks in Cairo on Tuesday with a delegation of Mitsubishi Motors Corporation on means of boosting joint cooperat...
Egypt, Djibouti Discuss Cooperation in Power, Construction Fields
2/6/2020 - A delegation of Egyptian construction and power companies held a meeting with Djibouti's Minister of Energy and Natural Resources Younes Ali Gedi.

They discussed means of boosting cooperat...
Egypt, ILO Probe Manpower Cooperation
2/6/2020 - Manpower Minister Mohamed Saafan received a delegation of the International Labor Organization (ILO) to discuss cooperation and joint action between the ministry and the organization.

Saafan ...
Saudi Telecom Must Offer to Buy Remaining 45% in Vodafone Egypt
2/6/2020 - Saudi Telecom Co (STC) must offer to buy the 45% of Vodafone Egypt owned by Telecom Egypt if it goes ahead with a $2.4 billion purchase of Vodafone Group’s stake in the company, Egypt’s financial regu...
Egypt Planted 3.18 Mln Acres of Wheat in 2019/2020
2/6/2020 - Egypt has planted 3.18 million feddans (1.34 million hectares) of wheat in the 2019-2020 season, just over the amount planted the previous year, an agriculture ministry official said .

All pl...
CBE: Foreign Currency Reserves Up By Dlrs 37mn in January
CBE: Foreign Currency Reserves Up By Dlrs 37mn in January 2/7/2020 - Foreign currency reserves jumped by about dlrs 37 million in January to reach dlrs 45.456 billion, the Central Bank of Egypt (CBE) said in a statement .

In December, the country's foreign r...
Egypt, EIB Sign 5-Point Agreement Cooperation
2/8/2020 - Egypt and the European Investment Bank (EIB) signed a joint agreement outlining five points of cooperation during the coming period, including backing the funding of public and private sectors and exp...
Egypt Extends Imported Wheat Moisture Limit Specs for another Year
2/8/2020 - Egypt, the world’s largest wheat buyer, has extended its imported wheat moisture limit specifications of 13.5 percent until April 2021, the trade ministry said .

Ashraf Afifi, chairman of the...
Egyptian-Jordanian Delegation to Visit Iraq, Boosting Trilateral Cooperation
2/9/2020 - Egypt's Minister of International Cooperation Rania El-Mashat announced that a delegation involving the Egyptian Ministry of International Cooperation and the Jordanian Ministry of Industry, Trade and...
International Cooperation Ministry, European Investment Bank Discuss Supporting Egypt's Agenda 2030
2/9/2020 - A delegation from the European Investment Bank (EIB) finished a visit to Egypt that adressed boosting Egypt’s economic development in line with the country's strategy for 2030.

The visit wa...
PM Follows Up Implementation of 1.5 Mn Feddan Project
2/10/2020 - Prime minister Mostafa Madbouli has reiterated the state keenness on supporting and encouraging agricultural and land reclamation projects to expand farmlands nation-wide.

Madbouli's statem...
El Mashat: Gov’t Targets Boosting Multilateral Partnerships to Achieve Egypt’s Vision 2030
2/10/2020 - International Cooperation Minister Rania el Mashat said that her ministry was focusing on boosting the multilateral partnerships with other governments, international economic policy makers, developme...
Egypt's PM Urges Better GAFI Performance
2/10/2020 - Egypt's Prime Minister Mostafa Madbouly stressed the necessity to improve the performance of the General Authority for Investment and Free Zones (GAFI) to find solutions to problems facing serious inv...
CBE Waives EGP 48.5 Bln in Installed Enterprise and Factory Debts
2/11/2020 - The Central Bank of Egypt (CBE) has waived EGP 48.5 billion worth of debts and interest payments for installed factories and enterprises in line with the CBE's initiative to alleviate debts for instal...
EIB Finances Expansion of Alexandria West WWTP
2/11/2020 - The European Investment Bank (EIB) has signed a financing agreement of EUR 120 million with Egypt to support the expansion and upgrade of the Alexandria West Waste Water Treatment Plant (WWTP).
CBE: Annual Inflation Rate Up To 2.7% in January
CBE: Annual Inflation Rate Up To 2.7% in January 2/11/2020 - The Central Bank of Egypt (CBE) announced that Egypt's Annual core inflation rate upped to 2.7 percent in January from 2.4 percent in December 2019.

On a monthly basis, the consumer price...
Egypt's Sisi Discusses Cooperation with Bechtel and BP
2/11/2020 - President Abdel-Fattah El-Sisi met with the CEO of Bechtel Corporation, Brendan Bechtel, in Cairo , and discussed ways to boost cooperation with the US firm.

El-Sisi expressed his appreciatio...

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