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Financials and Investment News in Egypt

EGX Gains EGP 3.8 Bn
8/5/2020 - The Egyptian Exchange (EGX) indexes gained EGP 3.5 billion at the end of the trading session .

The market capital hit about EGP 593.5 billion. The EGX 30 benchmark index went up by 0.79 per...
Egypt’s Net Foreign Reserves Edge Up to Us$38.31 Bn in July – Central Bank
8/6/2020 - Egypt’s net foreign reserves rose slightly to US$38.315 billion in July from $38.202 billion in June, the central bank said

Foreign reserves had dropped since March from a high of more tha...
Bourse Gains EGP 5.3 Bn, All Indexes Up
8/10/2020 - The Egyptian Exchange (EGX) indexes posted collective gains during trading session, backed by purchases of local institutions and investment funds, against selling operations by Arab and foreign inves...
Egypt’s Growth to Drop to 2% in FY2020/21, Domestic Activity to Contract in 2Q, 3Q of 2020
8/11/2020 - The COVID-19 crisis has altered Egypt’s macroeconomic outlook, as the country’s growth in FY2019/2020 and FY2020/2021 had already been lowered to 2 and 2.8 percent in May and June, compared to the pre...
Egypt, Sudan Agree to Overcome Hindrances Facing Flow of Trade
8/24/2020 - Minister of Trade and Industry Niveen Gamea' said that an agreement was reached with the Sudanese side to outline a work plan to overcome the hindrances facing the flow of trade between Egypt and Suda...
Egypt's FY2020/21 Budget Targets Reducing Poverty Rate to 30%, Illiteracy to 22%: Planning Minister
8/24/2020 - Egypt’s current FY2020/2021 budget aims to reduce the poverty rate to 30 percent, down from 32.5 percent in FY2017/2018, and to reduce the extreme poverty rate to 5 percent, Minister of Planning and E...
Egypt’s Central Bank to Offer EGP 19 Bln T-Bills to Plug State Budget Deficit
8/24/2020 - The Central Bank of Egypt (CBE) is set to offer two types of treasury bills (T-bills) in Egyptian pounds worth EGP 19 billion, including 91-day term T-bills worth EGP 8.5 billion, and 266-day term T-b...
UNDP, Japan to Provide Egypt With $2.73 Mln to Address Socio-Economic Impacts of COVID-19
8/25/2020 - The United Nations Development Programme (UNDP) and the government of Japan have said they will expand an existing partnership supporting Egypt’s crisis management in order to address the socio-econom...
The Ministry of Finance Auctioned Treasury Bills at a Total Value of EGP 18 Billion.
8/30/2020 - The Ministry of Finance auctioned treasury bills at a total value of EGP 18 billion.

In a statement released on Sunday 30/8/2020, the ministry said it sold 91-day T-bills worth EGP 8 billi...
Engineering Authority Head: 14,762 Projects Implemented
8/30/2020 - Head of the Armed Forces' Engineering authority Ihab el Far said that 14,762 projects had been completed at EGP 2.2 billion, while 4,164 projects would be implemented at EGP 2.6 trillion.

A...
Egypt Signs $2 Bln Loan With Regional, International Banks -Statement
8/31/2020 - Egypt signed a $2 billion conventional and Islamic loan with several international and regional banks in a deal coordinated by two UAE lenders, the finance ministry said .

Emirates NBD Capi...
PM,CBE Governor Discuss Updates of Banking Sector After Corona Virus Crisis
9/7/2020 - Prime Minister Mostafa Madbouli met with Central Bank of Egypt (CBE) Governor Tarek Amer, where the premier got updated with the banking sector developments since the crisis of the global outbreak of ...
Pm Issued Decision Amending Capital Market Law Regulation
9/8/2020 - Head of the Financial Regulatory Authority Mohamed Omran said that the prime minister issued a decision amending some rules of the regulation of the Capital Market Law.

In a statement, Omr...
Housing Minister Confers With Real Estate Export Council on Mechanisms of Exporting Properties
9/8/2020 - Minister of Housing, Utilities and Urban Communities Essam El Gazzar met with members of the Real Estate Export Council to discuss mechanisms of propelling the exportation of properties, especially th...
Egypt’s Foreign Reserves Up To US$38.366 Billion In August: CBE
9/8/2020 - Egypt’s foreign reserves hit US$38.366 billion in August, an increase of $51 million from July, statement by the Central Bank of Egypt (CBE) announced.

Egypt imports a monthly average of fi...
Bahrain's ABC Says in Preliminary Talks to Buy Blom Bank's Egypt Business
9/8/2020 - Bahrain’s Bank ABC said it was in preliminary talks to buy Blom Bank’s Egyptian subsidiary, pitting it against Dubai’s Emirates NBD, which is also a potential bidder.

Blom has hired CI Capi...
Ministry of International Cooperation Signs 3 Agreements Worth $885 Million With Arab Funds
9/15/2020 - Minister of International Cooperation, Dr. Rania Al-Mashat, announced that the ministry, during the period January to the end of August of this year 2020, signed three agreements worth about $885 mil...
Egypt’s Central Bank Renews Suspension of ATM Withdrawal, Banking Transaction Fees
9/16/2020 - The Central Bank of Egypt (CBE) has decided to maintain the validity of a number of procedures it has adopted as pre-emptive measures since the onset of the COVID-19 outbreak until the end of the year...
Production Continues in Egypt Despite Coronavirus -- IDSC
9/21/2020 - The Cabinet’s Information and Decision Support Center (IDSC) has issued a report on Egypt’s achievements during the coronavirus pandemic.

The Egyptian economy was hit by the negative impact...
Egypt's Central Bank Attracts EGP 21 Billion With T-Bill Auctions
9/21/2020 - The Central Bank of Egypt has managed to attract more than EGP 21 billion in investments from EGP treasury bills (T-bills).

The CBE offered 266-day T-bills and 91-day T-bills in an auction ...

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