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Financials and Investment News in Egypt

Electricity Sector Sees Promising Uptick in 2022
12/28/2022 - The Electricity and Renewable Energy managed to attain a quantum leap in the various spheres and secure the local market's needs, despite the diversity of global challenges during 2022, according to a...
Egypt Ranked 35th Globally in Terms of Spending on R&D
12/28/2022 - Higher Education and Scientific Research Minister Ayman Ashour said that Egypt came in 35th place in terms of public spending on research and development (R&D) among 86 countries worldwide.

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CBE: Egypt Banks to Close Sunday 1st Jan. for End of Fiscal Year
12/28/2022 - The Central Bank of Egypt (CBE) announced that banks will be off, 1st of January, on the occasion of end of the fiscal year.

CBE added in a statement that work at banks will be resumed, Jan...
Egypt, Japan’s JICA Ink Deal to Fund 1st Phase of 4th Line of Cairo Metro With $301mn
12/28/2022 - The Ministry of International Cooperation and the Transport Ministry have signed a $301-million-deal with the Japan International Cooperation Agency (JICA) on the 2nd tranche of funding for the first ...
PM Follows Up Measures to Automate Hospitals
1/1/2023 - Prime Minister Mostafa Madbouli on Sunday affirmed the state's keenness to expand the implementation and availability of various digital transformation procedures in service fields, including the heal...
PM: Gov't Focuses on Luring Investments to Top Priority Sectors
1/1/2023 - Prime Minister Mostafa Madbouli said the government focuses on luring investments to top priority sectors for the national economy in the current period.

Chairman of the General Authority f...
Agriculture Min. Urges More Effort for Sake of Egypt
1/1/2023 - Agriculture Minister el Sayyed el Qusseir has urged senior officials at his Ministry to exert utmost effort to support the new republic in the face of entangled incidents and crises.

“Our p...
PM Follows Up Efforts to Develop Health Insurance Authority, Ambulance Organization
1/1/2023 - Prime Minister Mostafa Madbouli asserted on Sunday the importance of developing the Egyptian Ambulance Organization and General Authority for Health Insurance to continue to offer better health servic...
Egypt's Agricultural Exports Surpassed 6.3 Mln Tons in 2022, Says Spokesman
1/1/2023 - Egypt's agricultural exports in 2022 exceeded 6.3 million tons for the first time in history, said Spokesman for the Agriculture Ministry Mohamed el Qersh.

In a phone interview Sunday with ...
Here’s What Could Tip The Global Economy Into Recession in 2023
1/1/2023 - The global economy has endured a tough year, with decades-high inflation sapping post-lockdown spending and pushing central banks to hike borrowing costs at an unprecedented clip to bring it under con...
Egypt’s Sovereign Fund Attracted EGP 37 Billion Since 2018, 43% of All Foreign Direct Investment
1/1/2023 - The Sovereign Fund of Egypt (TSFE) has, since 2018, attracted 43 percent of total foreign direct investment (FDI), or EGP 37 billion, according to a statement by Egyptian Presidential Spokesman Bassam...
Third of World in Recession This Year, IMF Head Warns
1/2/2023 - A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned.

Kristalina Georgieva said 2023 will be "tougher" than last year a...
PM Follows Up on Customs Release Procedures at Ports
1/2/2023 - Prime Minister Mostafa Madbouli said effective coordination continues as regards following up on procedures for customs release of various goods and commodities at Egyptian ports with a view to ensuri...
Madbouli Reviews Design of Industrial City in New October
1/2/2023 - Prime Minister Mostafa Madbouli presided over a meeting on Monday to review the layout of an industrial city planned to be established in the New October City.

The meeting was attended by M...
IDSC: State Taken Several Measures to Support Bonds Market in Egypt
1/3/2023 - The Cabinet’s Information and Decision Support Center (IDSC) showed that the Egyptian bonds market has witnessed great interest during the recent period, as the restricted bonds amounted to about EGP ...
CBE: Foreign Reserve Rises to $34 Bln in December 2022
1/3/2023 - The Central Bank of Egypt (CBE)announced that the country's foreign reserves rose by USD 470 million to hit nearly USD 34 billion in December 2022, compared to USD 33.5 billion in November.
Telecommunications Minister, Indian Ambassador in Cairo Discuss Joint Cooperation
1/3/2023 - Telecommunications and Information Technology Minister Amr Talaat met with Ambassador of India in Cairo Ajit Gupte, where they discussed mechanisms for enhancing joint cooperation between Egypt and In...
SCA, ABS Ink Mou on Transforming Suez Canal Into Green Canal
1/3/2023 - The Suez Canal Authority (SCA) inked a memorandum of understanding with the American Bureau of Shipping (ABS) to accelerate the authority's efforts to turn the Suez Canal into a green one in line with...
Trading at EGX Hit Record Levels in 2022 As it Exceeded EGP 1 Trillion - Chairman
1/3/2023 - Trading at the Egyptian Exchange (EGX) hit record levels in 2022, topping EGP 1 trillion for the first time in its history, EGX Chairman Rami El-Dokany said.

In a press conference on EGX 20...
EGX Indexes' Revenues Hiked 22% in 2022 - Chairman
1/3/2023 - Egyptian Exchange Chairman Rami El Dokany said EGX indexes' revenues hiked 22% in 2022, making its performance among the world's best exchanges.

In a press conference on EGX 2022 recap, Dok...

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