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Financials and Investment News in Egypt

Digital Mall to Be Launched in March With 5000 Brands Hosted Over Next Three Years: CEO
1/5/2021 - The UAE House of Experience announced its intention to launch the “Digital Mall” in Egypt during 2021 after the launch of the mall in the UAE officially in January.

In an exclusive intervie...
Global Economy Expected to Expand by 4% in 2021, Recovery to Be Subdued: World Bank
1/5/2021 - The global economy is expected to expand by 4 percent in 2021, after a 4.3 percent contraction in 2020, on the back of the initial COVID-19 vaccine rollout globally in 2021, the World Bank said.
Gold Prices Stabilize at LE842 for 21-Karat Gold
1/5/2021 - Gold prices in Egypt stabilized to record LE842 for 21-karat gold, amid expectations that the prices will vary trading.

The price of 18-karat gold recorded LE721, 24-karat gold recorded LE9...
Global Economy Expected to Expand By 4% in 2021, Recovery to Be Subdued: World Bank
1/6/2021 - The US is willing to deepen economic ties with Egypt and increase US investments in the Egyptian market, benefiting from the country’s attractive investment climate and its solid infrastructure, US Se...
CBE Details Presidential Initiative To Switch To Dual-Fuel Vehicles
1/6/2021 - The Central Bank of Egypt (CBE)’s board of directors has launched an initiative to offer a sum of EGP 15 billion with an interest rate estimated at 3 percent in light of President Abdel Fattah El Sisi...
IMF Raises Egypt’s Growth Projections to 2.8%, Significant Risks Expected Amid COVID-19
1/9/2021 - The International Monetary Fund (IMF) has raised its projections for Egypt’s real GDP growth for FY2020/21 to 2.8 percent, up from 2 percent projected in June, reflecting the milder than-anticipated c...
Egypt’s Annual Headline Inflation Declines to 5.4% The Lowest Since October: CAPMAS
1/10/2021 - Egypt’s annual headline inflation declines to its lowest since October reaching 5.4 percent in December, down from the 5.7 percent in November, the Central Agency for Public Mobilization and Statistic...
Egypt Opens Subscription in 'Seyola' Cash Fund, Targets Up to EGP 100 Mln Investments
1/10/2021 - Egypt announced on Sunday the rolling out of subscription in 'Seyola' cash investment fund, which is its first cash fundthat allows to invest in in number of financial instruments.

The targ...
Planning Minister Announces Launch of Ipos of Ni Capital
1/10/2021 - Planning Minister Hala el Saeid has announced the launch of initial public offerings (IPOs) of NI Capital, an investment arm of the National Investment Bank, whose board she also chairs.

Th...
Egypt, China Agree on Releasing Egyptian Exported Citrus
1/10/2021 - Trade and Industry Minister Niven Gamea said that the Egyptian trade bureau in Beijing managed to agree with the Chinese customs authority on continuing the Egyptian citrus exported to the Chinese mar...
Egypt’s Annual Core CPI Rate Declined to 3.8% in December: CBE
1/11/2021 - Egypt’s monthly core inflation recorded zero in December 2020, down from 0.2 percent in the same month a year prior, and zero in November 2020, according to the Central Bank of Egypt (CBE).

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Fitch Solutions Downgrades Egypt’s Growth to 3% In 2021 for The Second Time inTwo Months
1/11/2021 - Fitch Solutions has downgraded its projections for Egypt’s real GDP growth for the second time in two months to reach 3 percent in 2021, down from the 3.2 percent that was projected in December.
Egypt Issues EGP 30 Mln in Coins Monthly to Meet Demand
1/12/2021 - Egypt has started issuing EGP 1 million in coins per day - EGP 30 million per month - across the country to meet public demand and combat change shortages, the finance ministry announced .

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PM Directs to Finalize Lining, Rehabilitation of Canals Project
1/12/2021 - Prime Minister Mostafa Madbouli reiterated the importance of finalizing the project of lining and the rehabilitation of canals to maintain the State's water resources.

The premier's remarks...
Tunisian PM Hails Role of Private Sector on Enhancing Egyptian-Tunisian Cooperation
5/14/2022 - Tunisian Prime Minister Najla Bouden hailed the outcome of the Tunisian-Egyptian economic forum, stressing the importance of the role of the private sector in enhancing cooperation and creating partne...
Egypt Hails EBRD's Approval to Expand Operations in Africa
5/14/2022 - The Board of Governors of the European Bank for Reconstruction and Development (EBRD) has agreed to expand its operations in Africa.

Addressing EBRD Annual Meeting 2022, Minister of Intern...
Gamea: State Easing Procedures for Provision of Lands for Investment Projects
5/15/2022 - Minister of Trade and Industry Nivine Gamea said the Egyptian State is acting to provide land plots required to carry out industrial projects with very simple and easy procedures.

Gamea s...
Min.: Low-Cost Development Finance Represents 25% of External Debt
5/15/2022 - Minister of International Cooperation Rania el Mashat said that low-cost development finance generally represents 25% of the country's external debt, namely $25 billion.

Speaking at a pr...
Egypt Adopts Five-Pillar Approach to Cope With Global Economic Crisis: PM Madbouly
5/15/2022 - Prime Minister Mostafa Madbouly said Egypt is working on a five-pillar plan to cope with the current global economic crisis resulting from the coronavirus pandemic and Russian-Ukrainian conflict.
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Egypt's Food Exports Increase by 5% in 1Q of 2022
5/15/2022 - Exports of the Egyptian food industry increased by 5 percent in the first quarter of 2022, recording $1.04 billion against $996 million in the corresponding period in 2021, chairman of the Food Export...

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