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Financials and Investment News in Egypt

59% Increase In Number of French Tourists Visiting UAE in 2021
7/18/2022 -  Tourism between the UAE and France has witnessed significant growth in recent years, despite the COVID-19 pandemic.

In 2021, the number of French tourists coming to the UAE increased by 5...
Egypt Ranks 7th of Arab Countries in 2022 Sustainable Development Report
7/24/2022 - Planning Minister Hala el Saeid said Sunday that Egypt ranks seventh of 20 Arab countries and fourth of 47 states in Africa in terms of sustainable development.

Egypt came seventh in the Mi...
5,500 Kilometers of Canals Rehabilitated Until Now
7/24/2022 - Minister of Irrigation Mohamed Abdel Aati asserted that 5,500 kilometers of canals were rehabilitated in the different governorates until now while 4,122 kilometers are now undergoing development proc...
PM Follows Up on Progress of Industrial Partnership Between Egypt, UAE, Jordan
7/24/2022 - Prime Minister Mostafa Madbouli held a meeting with Trade and Industry Minister Nevine Gamea to follow up on the progress made to implement the initiative of the Integrated Industrial Partnership for ...
Egypt's FRA Seeks to Double Non-Traditional Financing by 2026
7/24/2022 - Egypt's Financial Regulatory Authority (FRA) seeks to double non-traditional financing to reach EGP 820 billion by 2026 from EGP 370 billion in 2021 and about EGP 159 billion in 2017, the authority sa...
Planning Min. Presides Over Meetings of Board of Directors of Four Sub-Funds
7/25/2022 - Planning and Economic Development Minister and chairperson of the Board of Directors of the Sovereign Fund of Egypt (TSFE) Hala el Saaed presided over the meetings of the board of directors of the fou...
Petroleum Min. Asserts Importance of Unified Afrian Stance on Just Energy Transformation
7/27/2022 - Petroleum Minister Tarek el-Mulla asserted the importance of coordination and cooperation with the African Union (AU), along with Egypt's leadership of the energy file in Africa during COP 27.

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Cabinet Center: Egypt Advances 20 Positions on Inbound Arrivals Index 2022
7/27/2022 - The Cabinet Information Center said Egypt realized a leap on the inbound arrivals index in 2022, jumping up 20 positions from 55 in 2021 to 35 in 2022.

This came in an infograph published ...
Dollar Prices Stable at Egypt's Major Banks
7/27/2022 - The US dollar exchange rate was stable at the beginning transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP 18.89 for ...
Egypt Pays Attention Upgrading Energy Strategy 2035: IDSC
7/27/2022 - The Cabinet Information and Decision Support Center (IDSC) asserted Wednesda that Egypt pays attention to developing and upgrading its energy strategy 2035 to be up to the developments of the era.
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Aide to PM: Investors Complaint Unit Received 109 Complaints
7/27/2022 - First Assistant to the Prime Minister Engineer Randa el-Minshawi said the Cabinet's permeant unit established to solve investors complaints has received 109 complaints so far.

During a mee...
IMF Revises Up Egypt's 2022 Real GDP Growth Forecast to 5.9%
7/27/2022 - The International Monetary Fund (IMF) has revised its projections for Egypt's real GDP growth in 2022 to reach 5.9%.

This came from the IMF’s World Economic Outlook Report that was release...
Egypt Committed to Its Strategic Approach for Green Economy Transition
7/30/2022 - Director of the Industrial Modernisation Centre (IMC) Mohamed Abdel Karim said the Egyptian State is committed to a strategic approach for transitioning to a green economy.

This green tran...
Ministers Probe Applying New Cotton Trading System During 2022-2023 Harvest Season
7/30/2022 - Minister of Public Business Sector Hisham Tawfik and Minister of Trade and Industry Neveen Gamea reviewed preparations for implementing the government's new cotton trading system during the 2022-2023 ...
Egypt’s Exports of Medical Industries Register $450m In H1 of 2022
7/30/2022 - Egypt's exports of medical and pharmaceutical industries increased by 30.4% to $450 million in the first half of 2022 compared to $345 million during the same period in 2021, according to the Export C...
Egypt, UN Discuss Joint Investments With Private Sector
7/31/2022 - International Cooperation Minister Rania el Mashat discussed with Assistant Secretary General for UN Global Compact (UNCG) Sanda Ojiambo joint cooperation opportunities, boosting South-South cooperati...
Dollar Prices Stable at Egypt's Major Banks
7/31/2022 - The US dollar exchange rate was stable at the beginning of Sunday's transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP...
Bank Misr Acquires License to Open Branch in Kenya's Capital
8/10/2022 - Egypt’s second-largest lender Banque Misr has acquired a license from the Central Bank of Kenya (CBK) to operate a representative office in Nairobi, the bank announced in a statement .

The...
Creditors Agree to 2-Year Pause on Ukraine $20 Bn Debt
8/10/2022 - Ukraine's lenders agreed to a pause for the payment of its $20 billion (19.4 billion euro) debt, as its economy has been severely impacted by Russia's invasion, the prime minister said.

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PM: We Are Keen on Participating in Projects Under "NWFE"
8/11/2022 - Prime Minister Moustafa Madbouli asserted the importance of ongoing efforts to organize the 27th session of the Conference of the Parties to the UN Framework Climate Chane Convention (COP27).

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