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Financials and Investment News in Egypt

PM Follows Up Promotion, Marketing Efforts of NAC's
12/20/2022 - Prime Minister Mostafa Madbouli said that the construction of the finance and business district in the New Administrative Capital (NAC) will be finalized soon, pressing the need for outlining a plan f...
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...
Finance Min Lauds President Sisi's Support to Comprehensive Health Insurance System
12/20/2022 - Finance Minister Mohamed Maait lauded the support of President Abdel Fattah El Sisi to the comprehensive health insurance system.

President Sisi and the government believe in the necessity ...
Kuwaiti Week in Egypt Contributes to Boosting Fraternal Ties Between Egypt and Kuwait
12/20/2022 - Kuwaiti Ambassador to Egypt Ghanem Saqer al Ghanem asserted that holding the 13th Kuwaiti Week in Egypt would contribute to strengthening the fraternal ties binding Egypt and Kuwait in addition to acq...
Housing Minister Arrives for 1st Filling of Egyptian-Built Dam in Tanzania
12/21/2022 - Housing Minister Assem el Gazar arrived in Tanzania on Wednesday to take part in a ceremony marking the first filling of the Julius Nyerere Dam constructed by an Egyptian consortium.

The da...
PM Reviews Report on Coop. Between Unified Procurement Authority, UK NICE
12/21/2022 - Prime Minister Mostafa Madbouli reviewed Wednesday a report conducted by the Unified Procurement Authority on its cooperation with the UK National Institute for Health and Care Excellence (NICE).
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PM Orders Intensified Work to Cut Shipments' Clearance Timing at Ports
12/21/2022 - Prime Minister Mostafa Madbouli has issued directives for intensifying work to reduce the shipments' clearance time at Egypt's ports, especially those related to strategic commodities and foodstuffs, ...
Planning Ministry Issues a Report on Goals of Social Protection
12/21/2022 - Planning and Economic Development Minister Hala el Saeed said that the state had allocated EGP 302.2 billion in the 2022-23 public budget to social protection comparing to EGP 251 billion in the 2020-...
Military Production, Local Development Ministers Follow Up on Infrastructure Projects
12/21/2022 - State Minister for Military Production Mohamed Salah discussed with Minister of Local Development Hisham Amna the executive situation of infrastructure projects of the solid waste system in governora...
Infographic: Egypt Secures $13.7B to Support National Development Objectives
12/21/2022 - $13.7 billion was secured in 2022 to support Egypt’s national development objectives, Minister of International Cooperation Rania A. Al-Mashat announced.

This included $11.1 billion directe...
Egypt to Pay Local Farmers EGP 1,100 for Sugarcane Ton
12/22/2022 - Supply Minister Ali Moslehi said the ministry will raise the price of sugarcane purchased from local farmers to EGP 1,100 per ton after an agreement was reached with the parliamentary majority at the ...
Egyptian Council, SASO Discuss Facilitating Getting Certificates
12/24/2022 - Executive Director of the Engineering Export Council of Egypt Mai Helmi had talks with Deputy Governor of the Saudi Standards, Metrology and Quality Organization (SASO) Saud bin Rashed Al Askar on mea...
Minister: Economic Openness Important to Face Global Recession
12/24/2022 - International Cooperation Minister Rania el Mashat has underlined the need of having economic openness regionally and internationally to counter the current global recession.

In an intervie...
Planning Ministry:677 Start-Ups Currently Operating in Egypt
12/24/2022 - Dr. Ghada Khalil, Director of the Rowad 2030 Project of the Ministry of Planning and Economic Development said a number of 677 start-ups are currently operating in Egypt providing some 45,955 job outl...
PM Follows Up on Executive Situation of Knowledge City
12/27/2022 - Prime Minister Mostafa Madbouli followed up on the executive situation of Knowledge City in the New Administrative Capital.

During his meeting with Telecommunications Minister Amr Talaat an...
Bourse Shows Mixed Performance at End of Tuesday Trading
12/27/2022 - Egyptian Exchange (EGX) indexes showed mixed performance at the close of trading session, amid purchasing operations by Arab and local institutions and investment funds, against selling by foreign ins...
Africa Could Make €1 Trillion of Green Hydrogen A Year, Eib Says
12/27/2022 - The Egyptian Cabinet's Information and Decision Support Center (IDSC) said that Africa has the potential to produce €1-trillion (R18.3-trillion) worth of green hydrogen a year by 2035, allowing it to ...
NBE Denies Issuing Savings Certificates With A Return of 20%
12/27/2022 - The Chairman of the Board of Directors of the National Bank of Egypt, Hisham Okasha, denied rumors regarding the bank issuing savings certificates with a return of up to 20 percent for the coming peri...
Ten Years in Prison, Fine in Millions for US Dollar Manipulators, CBE
12/27/2022 - The Central Bank of Egypt has revealed a prison sentence of no less than three years and no more than 10 years, and a fine of no less than LE 1 million and no more than LE 5 million for manipulating t...
2022 Yearender: World Economy Faces More Pain in 2023 After A Gloomy Year
12/28/2022 - This was supposed to be the comeback year for the world economy following the Covid pandemic.

Instead, 2022 was marked by a new war, record inflation and climate-linked disasters. It was a ...

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