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Financials and Investment News in Egypt

Planning Min: 5,000 Youths Apply for "Be an Ambassador" Initiative
11/12/2020 - Planning and Economic Development Minister Hala el Saeed said that 5,000 youths have so far applied for the "Be an Ambassador" initiative that aims at building capabilities of young people in the fiel...
Sisi Directs to Expand National Project on Overall Development of Desert Environment
11/15/2020 - President Abdel Fattah El Sisi on Sunday issued directives to the bodies concerned to expand the national project on the overall development of desert environment due to its great social and developme...
Planning Min.: Kemet Boutros Ghali Focuses on Developing Cooperation With African Countries
11/15/2020 - Planning Minister Hala el Saeed said Kemet Boutros Ghali Foundation focuses on developing cooperation with the African countries.

The foundation also collaborates with governmental and non-...
Endeavour to Buy Teranga as Gold Dealmaking Gathers Pace
11/16/2020 - West Africa-focused Endeavour Mining EDV.TO has agreed to buy Teranga Gold TGZ.TO in an all-share deal that will create a top 10 gold producer aiming to list in London, the companies said, a week afte...
Misr Cement Co. (Qena) Consolidated Net Profits Surged to Egp 45.1 Mln in Q3 of 2020
11/16/2020 - Misr Cement Co. (Qena), listed on the Egyptian Stock Exchange EGX as MCQE, witnessed an increase in its net profits in the third quarter of 2020 to reach EGP 39.20 million, up from EGP 29.70 million i...
EBRD, Partners Acquire Egypt’s Adwia Pharmaceuticals
11/16/2020 - The European Bank for Reconstruction and Development (EBRD) announced the acquisition with other partners of Egypt’s Adwia Pharmaceuticals company to improve the availability and affordability of medi...
Egypt to Receive €132.8 Mln from Germany to Implement 11 Projects
11/16/2020 - The Ministry of International Cooperation and the German Agency for International Cooperation (GIZ) agreed to finance 11 new projects worth €132.8 million in 2021.

This decision was announc...
Egypt's CBE Extends Maturity of US Bonds Repurchase by 1.5 Years
11/17/2020 - The Central Bank of Egypt (CBE) has agreed to extend the term of the US dollar bonds repurchase by 1.5 years from the original 4.5-year-term, increasing the overall maturity of these bonds to six year...
Housing Minister, Cairo Governor Follow Up Implementation of Development Projects in Capital
11/17/2020 - Housing Minister Assem el Gazzar and Cairo Governor Khaled Abdel Aal met to discuss implementation of projects meant to bring the districts of Maspero, Magra el Eyoun and Rowdat el Sayyeda up to code....
Egyptian President Urges Reducing Customs Clearance Time
11/17/2020 - Egyptian President Abdel Fattah El-Sisi urged reducing customs clearance time to facilitate trade and achieve governance of the export and import process, the Presidency said in a statement.

...
Egypt's Cbe Extends Maturity of Us Bonds Repurchase by 1.5 Years
11/17/2020 - E said in a statement that the approval of this extension is unanimously supported by the current consortium of banks, and that it reflects the continued strong affirmation and vote of confidence by t...
Egypt, Germany Discuss Launch of Debt Swap Programme Third Phase
11/29/2020 - Minister of International Cooperation Rania Al-Mashat held Sunday a virtual meeting with Claudia Farning, director general of the German Federal Ministry for Economic Cooperation and Development, to d...
Damietta Port Receives 8 Containers, Cargo Ships
11/29/2020 - Damietta Port received over the past 24 hours two container ships and six cargo vessels, the Damietta Port Authority Media Center said in a statement .

The statement added that two containe...
Japan Offers $96 M Loan for Advanced Electric Meters' Project in North Cairo
12/1/2020 - he deal was signed with Japan's Toyota Tsusho and Elsewedy Electric for Trading and Distribution, in the presence of Minister of Electricity and Renewable Energy Mahmoud Shaker and Japanese Ambassador...
Egypt's Central Bank Issues Le10b in T-Bonds Monday
12/1/2020 - The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued LE 10 billion in treasury bonds.

The T-bonds were offered in three installments, with the first valued at LE 4 ...
France Stresses Commitment to Boosting Economic Cooperation With Egypt
12/1/2020 - Ambassador of France to Egypt Stéphane Romatet has asserted the continued commitment of France to strengthening economic cooperation with Egypt over the coming period.

Romatet made the comm...
Egypt's VAT Unchanged in Law's Amendments, New Exemptions Included
12/1/2020 - The new amendments to the Value Added Tax (VAT) law will not affect the current value of the tax of 14 percent, Salah Youssef, the head of Research and Tax Policies at the Ministry of Finance revealed...
Egypt’s Capital Inflows Fell by Half in FY2019/20 Amid Coronavirus Pandemic: CBE
12/1/2020 - Net inflows of the capital and financial account dropped by half to $5.4 billion in FY2019/20, down from the $10.9 billion registered in FY2018/19, according to the Central Bank of Egypt (CBE).
Egyptair and Air Cairo Activate Codeshare Agreement
12/1/2020 - EgyptAir and Air Cairo announced on Sunday the signing of a new codeshare between the two companies, aimed at providing more travel options to customers, strengthening their presence in new markets du...
Egypt Expects US$1.6 Billion IMF Loan By The End Of December: Minister
12/1/2020 - Egypt’s Finance Minister Mohamed Maait announced that a US$1.6 billion tranche from the International Monetary Fund (IMF) is anticipated to arrive by the end of December.

The IMF approved i...

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