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Financials and Investment News in Egypt

Egypt's Domestic Debt Hits 10-Year Low
2/23/2020 - Egypt's public domestic debt plunged to 66.7 percent during the first quarter of 2019/2020, registering its lowest level in 10 years, an info-graph prepared by the cabinet's media centre showed .
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Bank of Alexandria, EBRD Sign $50 Million Loan Agreement
2/23/2020 - The Bank of Alexandria and the European Bank for Reconstruction and Development (EBRD) signed a $50 million loan agreement financing small and medium projects.

The agreement includes a spec...
Egypt & Belarus Sign 4 Agreements During Lukashenko Visit - a Diplomat
2/24/2020 - Ambassador of Belarus Sergei Terentiev said the recent visit of President Alexander Lukashenko to Egypt was very fruitful.

Four agreements were signed between the two countries to boost coo...
PM Follows Up Investing Companies in Free Zones
2/24/2020 - Prime Minister Mostafa Madbouli chaired a meeting to follow up on a number of files pertaining to challenges facing investors and measures taken to ease the business of companies operating in the free...
Visa: Digital Payment Growth Could Boost Egypt’s GDP By 3.5%:
2/25/2020 - Economic growth generated through digital payments could add up to 3.5 percent to Egypt's GDP, according to Visa.

The company, which describes itself as the world’s leader in digital paymen...
Egypt Ranked 2nd Among World's Biggest Budget Surpluses: Finance Minister
2/25/2020 - Egypt ranked 2nd among world's biggest budget surpluses: Finance minister

Egypt achieved an initial budget surplus of EGP 103 billion during the last fiscal year, Finance Minister Mohamed M...
Egypt, World Bank Discuss Boosting Joint Cooperation
2/26/2020 - Minister of International Cooperation Rania el Mashaat confirmed that the government is working to enhance cooperation with the World Bank in fields that are important to the Egyptian citizen such as ...
PM Asserts Key Role of ICT Ministry in Digitization Process
2/27/2020 - Prime Minister Mostafa Madbouli asserted the key role that the Ministry of Information and Communications Technology (ICT) plays mainly in the digitization file which targets facilitating access to se...
IFC to Expand Investments over Egypt’s Economic Reforms
2/27/2020 - CEO of the International Finance Corporation (IFC) Philippe Le Houerou has announced that the IFC will expand its activities and investments in Egypt in the coming period, especially amid the second w...
Sisi Approves OFID Loan Agreement
2/27/2020 - President Abdel Fattah El Sisi issued a decree approving a loan agreement between Egypt and the OPEC Fund for International Development (OFID) worth 14 million dollars set to establish grain storage ...
PM Tours 1st Waste Recycling Plant in Hurghada
2/29/2020 - Prime Minister Mostafa Madbouli inspected the first factory of solid waste recycling in Hurghada governorate.

The premier was accompanied by ministers Khaled el Anani of Tourism and Antiqui...
Egypt, Cote D'ivoire Discuss Boosting Coop. in Digital Transformation
2/29/2020 - Minister of Communications and Information Technology Amr Talaat has discussed with Ivorian Ambassador in Cairo Timothy Ezouan means of boosting bilateral ties in the field of digital transformation.<...
World Bank: Global Poverty Goals at Risk, 500 Mln People Live in Fragile Situations
3/1/2020 - By 2030 about two-thirds of global extreme poor will be living in fragile and conflict-affected situations, making global poverty goals hard to be met, according to a recent report released by the Wor...
Egyptian Exchange Falls 3.6% Amid Fears of Coronavirus Spread
3/1/2020 - Egypt’s blue-chip stock index fell 3.6% on opening amid fears of a global financial decline following the spread of the coronavirus.

The biggest index movers were Commercial International B...
Egypt Rejects Ethiopia's Statement on GERD Talks in Washington
3/2/2020 - The Ministries of Foreign Affairs and Water Resources vehemently rejected an Ethiopian request to be given more time to be ready for signing a final deal on the Grand Ethiopian Renaissance Dam (GERD)...
Egypt's Non-Oil Business Activity Contracts in February: PMI
3/3/2020 - Activity in Egypt’s non-oil private sector remained in contraction during the month of February, a survey showed as output fell for the seventh consecutive month, albeit at a slower rate.

IH...
G7 to Make No Direct Calls For Fiscal, Monetary Support in Coronavirus Statement
3/3/2020 - Group of Seven nations will voice their determination to fight the economic hit of the coronavirus but stop short of directly calling for new government spending or coordinated central bank interest r...
Emaar Misr Development Revenues Fell 14% in 2019
3/3/2020 - Emaar Misr for Development (EMFD) revenues saw a fall by 14 percent Y-o-Y, recording EGP 5.4 7billion in 2019.

According to the company's auditor financial statement, revenues declines due ...
Sprott, La Mancha and Kinross Express Interest in Egypt Gold Mining
3/4/2020 - US mining company Sprott and mining group La Mancha intend to bid on Egypt's international gold mining tender this month, while Canada's Kinross Gold plans to make large investments in the country's m...
CBE Official: Big International Bank to Obtain License to Work in Egypt
3/6/2020 - Deputy Governor of the Central Bank of Egypt (CBE) Gamal Negm said that a big international bank has contacted the CBE to obtain a license to enable it to work in Egypt.

In press statements...

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