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Financials and Investment News in Egypt

Sisi Pledges to Remove Obstacles Facing Young Craftsmen
10/11/2020 - President Abdel Fattah El Sisi pledged to remove obstacles facing young craftsmen.

Meeting exhibitors from different governorates following the inauguration ceremony of Turathna "Our Herita...
MENA Startup Investments See Slowdown In September
10/12/2020 - Investments in startups in the Middle East and North Africa (MENA) witnessed a slowdown in September for the first time in 2020 with $10.9 million raised in 30 fresh investment deals, according to the...
GAFI CEO Confers With Bahraini Ambassador on Enhancing Investments
10/12/2020 - Chief Executive Officer of the General Authority for Investment and Free Zones Mohamed Abdel Wahab conferred with Bahraini Ambassador to Egypt and Its Permanent Delegate to the Arab League Hesham bin ...
Egypt’s Long-Term External Debt Increased to $90.6 Bln in 2019: World Bank
10/12/2020 - Egypt’s long-term external debt increased in 2019 to $90.6 billion - up from the $80.6 billion recorded in 2018 - with $90.3 billion of this debt acquired by the public sector, according to the World ...
Gold Prices Decline LE3 in Egyptian Market
10/12/2020 - Gold prices fell by three LE as prices for 21-karat, the most popular gold, declined in the local market to LE835, due to the recession and a decline in purchase rates.

Amir Rizk, a member ...
Madbouli, Public Business Sector Min. Probe Ministry's Activities
10/13/2020 - Prime Minister Mostafa Madbouli said Oct 12, 2020 the State continues to develop the companies of the public business sector, which suffered from financial distress over the past years.

Ma...
Finance Min.: Egypt Created Favorable Investment Climate Under Wise Leadership
10/13/2020 - Egypt under its wise leadership managed throughout the past few years to overcome the challenges of power, natural gas and roads shortage alongside creating favorable investment climate, said Finance ...
Planning Ministry, ITFC Launches Program That Boosts Commodities Supply in Egypt
10/13/2020 - The Ministry of Planning and Economic Development, in cooperation with the International Islamic Trade Finance Corporation, a member of the Islamic Development Bank Group, launched a capacity building...
Global Economic Outlook to Contract By -4.4% in 2020: IMF
10/13/2020 - Global economic growth is projected at -4.4 percent in the short term of 2020, a less severe contraction than what was forecast in June when growth was projected to decline by -4.9 percent, according ...
Google Launches New Program to Prompt MENA’s Economic Recovery, Including Egypt
10/14/2020 - Google has announced the launch of ‘Grow Stronger with Google’, a new program to accelerate the MENA region’s economic recovery from COVID-19, through digital transformation and by offering digital to...
Reforms Implemented by Gov't Supported Economy Against COVID-19 Effects - Minister
10/18/2020 - Petroleum Minister Tarek el Mulla asserted that the various reforms implemented by the government in the past few years had enabled Egypt to succeed at the economic level despite all obstacles that fo...
Ma'eet Reviews Performance of Egyptian Economy With Int'l Bankers, Investors
10/18/2020 - Finance Minister Mohamed Ma’eet had talks with senior officials at Standard Chartered and HSBC via video conference earlier.

He also attended a gathering organized by Bank of America with a...
Environment Min.: Five Projects to Be Financed by Dlrs 500 Mn From First Issuance of Green Bonds
10/18/2020 - Minister of Environment Yasmine Fouad said Sunday that an agreement has been reached on shortlisted projects, that will be financed through the first issue of Egypt's green bonds, including five proje...
Transport, Trade, Public Business Sector Ministers Probe Ways to Develop Egypt's Trade Fleet
10/18/2020 - Transport Minister Kamel el Wazir, Public Business Sector Minister Hesham Tawfik, and Trade and Industry Minister Nevin Gamea discussed on Saturday 17/10/2020 mechanisms of implementing the political ...
Egypt's Untapped Opportunities Could Help Offset Market Uncertainties: Shell MD
10/18/2020 - Egypt has many opportunities that with effort could develop into upstream projects that are resilient to fluctuations and uncertainty in the market amid the Covid-19 crisis, according to Khaled Kacem,...
Abu Dhabi's ADQ to invest $1 billion to help retailer Lulu expand in Egypt
10/19/2020 - ADQ, a holding company owned by the Abu Dhabi government, said on Monday it has signed an agreement with regional retailer Lulu International to help fund its expansion in Egypt with an investment of ...
Egypt's Budget Surplus Will Help in Facing COVID-19 Challenges, Says IMF's Jihad Azour
10/20/2020 - In an exclusive interview with Ahram Online, director of the Middle East and Central Asisa (MCD) at the International Monetary Fund (IMF) Jihad Azour shared the IMF’s expectations for the Egyptian eco...
World's Largest Natural-Gas Powered Container Ship Transits Suez Canal
10/25/2020 - The CMA CGM Jacques Saadé, the world's largest liquefied natural gas-powered container ship, has passed through the Suez Canal in Egypt, Osama Rabie, Chairman of the Suez Canal Authority, said .
Egypt's Exports of Building Materials Hit $3.9 Bln in 8 Months: Building Materials Export Council
10/25/2020 - Egypt's exports of building materials, refractory and metallurgy industries hit $3.9 billion during the first eight months of 2020, compared to $3.2 billion during the same period last year.

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Q&A With EBCC Chairman on Egypt-UK Trade Relations, New Mutual Trade Accelerator
10/25/2020 - On 5 October, the UK-based Egyptian-British Chamber of Commerce (EBCC) launched the online B2B platform Trade Accelerator, which aims to bring the professional community of both countries together in ...

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