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Financials and Investment News in Egypt

MENA’s Growth to Decelerate to 3.5% in 2023 Amid The Global Economic Crisis: World Bank
1/10/2023 - Amid global economic crises, the World Bank expected the growth of the Middle East and North Africa (MENA) region to slow down to 3.5 percent this year and to 2.7 percent in 2024, down from 5.7 percen...
Deadline for Customs-Free Car Import Initiative Not to Be Extended: Finance Minister
1/10/2023 - Minister of Finance Mohamed Maait said that the government has no intention to extend the deadline for the initiative launched for Egyptians living abroad to import cars into the country, free of cust...
Egypt to Receive The Second Tranche of IMF’s $3 Bln Loan By End of March, Says Mission Head
1/10/2023 - Egypt is set to receive the second tranche of the $3 billion loan it secured from the International Monetary Fund (IMF), estimated at around $347 million, by the end of March, following the completion...
World Bank Warning: Global Economy Is At Risk of Recession
1/10/2023 - The global economy will slow "perilously close" to a recession this year, led by weaker growth in all the world's top economies _ the United States, Europe and China, the World Bank warned .

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PM :Gov’t Acting to Develop Non-Banking Financial Services
1/11/2023 - Egyptian Prime Minister Moustafa Madbouli has said that his government is acting to develop non-banking financial services.

The government pays utmost attention to supporting efforts of the...
CIB Egypt Offers Cds With a Distinctive Return, Following NBE, Banque Misr
1/11/2023 - Commercial International Bank Egypt announced that it would raise the interest on Certificates of Deposit (CDs) for a year and a half.

The move makes CIB the third bank to raise the interes...
BREAKING: Egyptian Pound Continues to Depreciate Against US Dollar to Over EGP 29
1/11/2023 - Hitting a new low, the Egyptian pound lost over 10 percent of its value against the US dollar to record over EGP 29 on Wednesday morning.

The dramatic slide came following the International...
IT Minister, NIELIT Director General Probe Cooperation in Building Up Digital Capacities
1/11/2023 - Minister of Communication and Infromation Technology Amr Talat discussed with Director General of the Indian National Institute of Electronics & Information Technology (NIELIT) Dr. Madan Mohan Tripath...
Will The Central Bank of Egypt Interfere to Control Soaring Prices?
1/12/2023 - The price of the Egyptian pound continued to decline against the US dollar at the beginning of trading, on Thursday, January 12.

At the National Bank of Egypt, it recorded LE 29.95 for pur...
All You Need to Know About Egypt’s Commitments, Targets Under New Imf Programme
1/12/2023 - The International Monetary Fund (IMF) announced the details of its new 46-month loan programme for Egypt and its government commitments in a staff report.

The report detailed the main targe...
Two Ministers Discuss Establishing Micro Projects to Provide Jobs for Underprivileged Citizens
1/12/2023 - Public Business Sector Minister Mahmoud Essmat and Social Solidarity Minister Nevine el Qabbag probed ways of establishing micro projects to secure job opportunities for underprivileged citizens.
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Sustainable Development is Attained By Cooperation of Individuals, State, Private Sector
1/14/2023 - Agriculture and Land Reclamation Minister El Sayyed el Quseir underscored that the sustainability notion is achieved by promoting cooperation among individuals, the state, the private sector and civil...
Ministry: 136,000 Quintals of Cotton Sold in 7 Governorates
1/14/2023 - The Ministry of Public Business Sector announced that some 136,000 quintals of cotton were sold in auctions held.

In a statement released the ministry said those actions were conducted in ...
Minister, TRS Delegation Discuss Recycling Used Tires
1/14/2023 - Public Business Sector Minister Mahmoud Esmat discussed with Swiss Ambassador in Cairo Yvonne Baumann and a delegation of Tyre Recycling Solutions ways of cooperation to recycle used and damaged tire...
CAPMAS: Egyptian Exports Jump By 23.3% in 10 Months to Register Dlrs 42.8bn
1/14/2023 - The Central Agency for Public Mobilization and Statistics (CAPMAS) said that Egypt's exports to world countries registered dlrs 42.8 billion in the first ten months of 2022, compared to dlrs 34.7 bill...
Europe Will Return to Russian Gas, Says Qatar Energy Boss
1/14/2023 - European countries will eventually resume higher imports of Russian gas, Qatar's energy minister and gas company CEO predicted, warning that market volatility could last for years.

Saad She...
Egyptian Pound's Performance Stable Against USD in End of Week Transactions
1/15/2023 - The Egyptian pound is continuing to witness significant fluctuations against the US dolla surpassing EGP 30 in a number of foreign and Arab banks operating in the Egyptian market.

Following...
Afghan Bank's Cash Remarks 'Misleading, Unhelpful': UN
1/15/2023 - The UN criticized Afghanistan's Taliban-controlled central bank for making ``misleading and unhelpful'' remarks about cash destined for humanitarian work.

It comes amid growing tension bet...
PM Probes Efforts to Increase Reclaimed Lands
1/15/2023 - Prime Minister Mostafa Madbouli has stressed the importance of following up efforts of expanding land reclamation in desert areas across the republic in line with the directives of President Abdel Fat...
Environment Min. Urges Providing Finance to Achieve Just Energy Transition
1/15/2023 - Environment Minister Yasmine Fouad said achieving just transition to new and renewable energy requires changing the culture and concepts of societies, as well as providing finance and technology.
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