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Financials and Investment News in Egypt

Cabinet Denies Issuing Ban on Imports to Egypt
12/13/2022 - The Cabinet has denied as groundless reports circulated on social media accounts that Egypt banned imports of some commodities.

In a statement, the Cabinet said it contacted the Ministry of...
Egypt Working to Have Place on Int'l Investment Map
12/13/2022 - Immigration Minister Soha Gendi said that the government is acting to have a place for Egypt on the international investment map.

Cairo is seeking to boost business opportunities for expats...
IMF's Approval of New Support Package Reflects Confidence in Egypt's Ability
12/17/2022 - The International Monetary Fund’s (IMF) recent approval of Egypt’s comprehensive national economic reform program is a further confirmation of the international community and development partners’ sup...
PM: AOI Engine Factory's Digital Manufacturing Center to Entrench Local Pump Industry
12/17/2022 - The digital manufacturing center at the Arab Organization for Industrialization's (AOI) engine factory in Cairo's Helwan neighborhood is a project of great importance that is part of the State's effor...
PM: Digital Manufacturing Center Targets Localizing National Industry
12/17/2022 - Prime Minister Moustafa Madbouli said that the digital manufacturing center, at Helwan engines factory, targets localizing the national industry.

The new plant includes the cutting edge te...
IMF Loan Will Enhance Economic Growth, Social Protection: Egypt Cabinet
12/17/2022 - The new $3 billion loan to Egypt approved by the International Monetary Fund (IMF) will be used to support the country’s programme to boost economic growth and investments and enhance its social prote...
Cabinet Denies News of Financing Entertainment City from State Budget
12/18/2022 - The Cabinet’s media center has dismissed as baseless news posted on some social media networking sites about bankrolling a project to build an entertainment city in the New Capital from state budget.<...
Higher Committee to Be Formed to Price 15 Basic Commodities - Minister
12/18/2022 - Supply Minister Ali el Moslehi said a higher committee will be formed to price 10 to 15 basic commodities in accordance with production cost and main inputs.

The committee will include memb...
PM Chairs Meeting on Gtzone
12/18/2022 - Prime Minister Mostafa Madbouli conferred with his ministers of petroleum and industry to review efforts to develop Egypt’s Golden Triangle.

Attending the meeting was chairman of the Golden...
Sisi Checks on Availability of Basic Commodities Across Nation
12/18/2022 - President Abdel Fattah El Sisi met on Sunday with Prime Minister Moustafa Madbouli, Supply Minister Ali el Moslehi and director of the National Service Projects Organization Walid Abul Maged to check ...
7th Arab Housing Conference Kicks Off in Egypt
12/18/2022 - The 7th Arab Housing Conference entitled “Towards Smart Sustainable Cities that Achieve Quality of Life” kicked off at the New Administrative Capital (NAC).

The three-day event is being hel...
ECS: Malaysia Mulls Setting Up Palm Oil Production Plant
12/18/2022 - Head of the Egyptian Commercial Service (ECS) Yahya Elwathik Bellah Ahmed said a Malaysian company is currently discussing the possibility of establishing a dlrs 30 million-project for producing Palm ...
US Dollar Exchange Rate Stable at Egypt’s Banks in First Working Day Following IMF Deal
12/18/2022 - The exchange rate of the US dollar against the Egyptian pound was stable at the close of transactions at Egypt's major banks, the first working day after the International Monetary Fund (IMF) approved...
Factbox: Egypt’s Fresh $3 Bln IMF-Backed Economic Reform Programme
12/18/2022 - Late Friday, the Executive Board of the International Monetary Fund (IMF) approved a $3 billion 46-month loan deal for Egypt under the Fund’s Extended Fund Facility (EFF) with an immediate disbursemen...
Electricity Minister Discusses Cooperation With British Ambassador
12/19/2022 - Electricity Minister Mohamed Shaker, received, 19-12-2022, Gareth Bayley, British Ambassador to Cairo, Martin Cave, director of the British Gas and Electricity Markets Office, and their accompanying d...
Egypt’s Strategic Stock of Wheat Sufficient for 4.8 Months
12/19/2022 - The Ministry of Supply and Internal Trade said that Egypt’s strategic stock of basic commodities is safe and sufficient for several months.

An annual report by the ministry said the strateg...
The Ministry of Irrigation Promotes Sustainable Management of Water Resources
12/19/2022 - Minister of Irrigation Hany Sweilam asserted that the water axis is one of the most important axes listed on the national platform of the green projects (NWFE), adding that the sector of water comes o...
Hajj Hassan, Visited Egyptian Trade Minister Discuss Means To Bolster Economic Relations
12/19/2022 - Caretaker Agriculture Minister, Abbas Hajj Hassan,visited Egyptian Trade and Industry Minister Ahmad Samir, as part of the former’s Egyptian tour.

The pair discussed ways to strengthen eco...
Supply Ministry: More Than 153,000 Ration Cards Revoked During 2022
12/19/2022 - The Ministry of Supply and Internal Trade announced that more than 153,000 subsidy ration cards were cancelled this year in accordance with the new conditions for subsidy eligibility.

In a ...
Rabie at Par'lt Session: Suez Canal Revenues to Hit 8 Billion Dollars by End of Current FY
12/20/2022 - Chairman of the Suez Canal Authority Osama Rabie asserted the authority achieved a tangible quantum leap in 2022 with the crossing of more than 23,000 ships with a 15% increase, compared to 21,700 ves...

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