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Financials and Investment News in Egypt

Cabinet Spox: No Orders in IMF-Egypt Agreement
1/15/2023 - Cabinet Spokesman Nader Saad said the agreement between the International Monetary Fund (IMF) and the Egyptian government does not include any orders.

The two sides has been engaged for six...
Egypt to Bridge Financing Gap By Selling State-Owned Assets: IMF
1/15/2023 - Egypt aims to bridge its financing gap through FY2025/26 mainly by selling state-owned assets, including to member states of the Gulf Cooperation Council, according to a staff report the International...
Egypt Helps in Creating Loss & Damage Fund for Climate Vulnerable Countries: GCP
1/16/2023 - Egypt submitted its climate-related performance report during its presidency of the previous global climate conference (COP27) in Sharm El Sheikh, Adviser to the Global Climate Program (GCP) Magdy All...
Egypt Implemented Major Project to Rehabilitate Canals: Minister
1/17/2023 - Minister of Irrigation and Water Resources Hani Sewilam said his ministry has a national plan that it is determined to continue to implement, adding that the State has implemented a major project to r...
Transport Min. Inspects 2nd Phase of Greater Cairo Ring Road Project
1/17/2023 - Transport Minister Kamel el Wazir inspected the second phase of the ongoing development of the Greater Cairo Ring Road project.

The development project includes the expansion of roads to 11...
Egypt, Netherlands Discuss Cooperation in Vegetable Seed Production
1/17/2023 - Agriculture and Land Reclamation Minister El Sayed el Quseir has met with a delegation representing one of the Dutch companies operating in vegetable seed production in Egypt.

During the me...
Gov't Denies Claims on Absence of Some Food Commodities from Markets
1/18/2023 - The Cabinet media center denied reports claiming that some food commodities are not available at markets.

In a statement the media center said it has contacted the Ministry of Supply and In...
Davos Initiative to Scale Up Climate Finance Builds on Directions Set at COP27: Mashat
1/18/2023 - Egypt’s Minister of International Cooperation Rania el Mashat said climate change is a global challenge that requires consolidating efforts and promoting commitment to climate action, as well as makin...
ECS, CIT Probe Promotion of Software Exports to Africa
1/21/2023 - Head of the Egyptian Commercial Representation Service (ECS) Minister Plenipotentiary Yahya al Wathiq-billah and head of the Chamber of Information and Communications Technology Industry (CIT) Khaled ...
Transport Minister Inspects High-Speed Electric Train Track in Upper Egypt
1/21/2023 - Transport Minister Kamel El Wazir made an inspection tour of the site of the 2nd phase of the 1,100-km high-speed electric train that is to link the 6th of October City in Giza with Aswan.

...
$4.1 Billion Volume of Trade Exchange Between Egypt, India in 11 Months of 2022
1/21/2023 - Minister of Trade and Industry Ahmed Samir announced the volume of trade exchange of non-petroleum products between Egypt and India hit nearly 4.1 billion dollars during the first 11 months of 2022, i...
Irrigation Minister Hails Deeply-Rooted Ties With Sudan
1/21/2023 - Minister of Irrigation and Water Resources Hani Sweilem hailed deeply-rooted ties linking Egypt and Sudan, and their long history of cooperation in various areas, especially water resources.

...
Minister: EIB Provided 515 Mln Euros for Private Sector in 2022
1/21/2023 - Minister of International Cooperation Rania el Mashat praised efforts exerted by the European Investment Bank (EIB) to help shore up the private sector’s role in the national development process, citi...
Google Cuts 12,000 Jobs as Tech Woes Bite Again
1/21/2023 - The layoffs come a day after Microsoft said it would reduce staff numbers by 10,000 in the coming months, following similar cuts by Facebook owner Meta, Amazon, and Twitter as the tech sector girds fo...
Egypt Signs $1.5 Bln Financing Agreement With Islamic Trade Finance Corporation
1/22/2023 - Egypt has signed a $1.5 billion agreement with the International Islamic Trade Finance Corporation (ITFC) to fund its trading, CNBC Arabia reported, quoting CEO of the ITFC Hani Salem Sonbol.

...
Finance Min: Societal Dialogue on New Budget to Be Launched in Coming Few Days
1/24/2023 - Finance Minister Mohamed Maait said that a societal dialogue on the 2023/2024 budget will be launched in the coming few days.

The Finance Ministry said in a statement that the dialogue aims...
Irrigation Minister Reaffirms Egypt's Support to Development Projects in S. Sudan
1/24/2023 - Egyptian Minister of Water Resources and Irrigation Hani Swelam has expressed Egypt's support to development projects in South Sudan.

In statements upon arrival in Juba on Monday 23/1/2023...
Electricity Minister, Nigerian Energy Minister Discuss Joint Cooperation
1/24/2023 - Confirming the President Abdel Fattah El-Sisi’s vision and the political leadership to strengthen the bonds of cooperation with Africa, especially in the electricity and renewable energy sector, Elect...
IDSC Issues Its First Publication Via Metaverse Technology
1/24/2023 - The Cabinet’s Information and Decision Support Center (IDSC) has launched a virtual version of its annual report "Egypt Through the Eyes of the World" via the metaverse technology.

The virt...
PM Chairs Meeting of Supreme Council of Ports
1/24/2023 - Prime Minister Mostafa Madbouli has reiterated the key role played by the Supreme Council of Ports in light of the recent decision to reconstitute it.

The decision includes entrusting the c...

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