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Financials and Investment News in Egypt

World's Largest Floating Library "Logos Hope" Crosses Suez Canal
1/24/2023 - MV Logos Hope, the world's largest floating library, crossed the Suez Canal within the South-bound convoy that was coming from Port Said port and and heading to the Jordanian port of Aqaba.

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PM Says Govt Keeps Coordinating Efforts to Lure Investments to EGX
1/24/2023 - Prime Minister Mostafa Madbouli said the government keeps coordinating all efforts aimed at luring further investments to the Egyptian Exchange (EGX).

During a meeting, the premier added th...
Gov't Working for Making Alexandria Luring Spot for Various Investments: Cabinet Spox
1/25/2023 - Prime Minister Mostafa Madbouli chaired a meeting on Tuesday 24/1/2023 to follow up the implementation status of service and development projects under way in Alexandria.

The meeting cover...
Trade Min. Meets Counterparts, Business Leaders at APDS Summit in Accra
1/29/2023 - Concluding his participation in the Africa Prosperity Dialogue Series (APDS) hosted by Ghana on January 26-28, Minister of Trade and Industry Ahmed Samir held extensive meetings with a large number of...
PM: Egypt Seeks Positive Economic Outlook in 2023
1/29/2023 - Prime Minister Moustafa Madbouli stressed that Egypt seeks to realize positive economic outlook during 2023.

Addressing the opening of the Annual MENA Investor Conference, he said the meeti...
PM Follows Up Work Flow of Monorail, LRT Projects
1/29/2023 - Prime Minister Moustafa Madbouli presided over a meeting on Sunday to follow up progress rate of the monorail and Light Rail Transit (LRT) projects in the presence of Housing Minister Essam el Gazzar,...
PM Follows GAFI's Efforts to Ensure Business-Friendly Environment
1/29/2023 - Prime Minister Mostafa Madbouli said all relevant state bodies are still offering many facilities and incentives to stimulate the investment sector and lure more local and foreign investments to maxim...
Egypt, Wbg Discuss Enhancing Private Sector's Participation in Development
1/29/2023 - International Cooperation Minister Rania el Mashat discussed in a meeting with two officials of the World Bank Group (WBG), future cooperation programs to stimulate the transition to a green economy a...
Egyptian Bourse's Market Capital Exceeds EGP 1.1 Trillion for First Time
1/29/2023 - For the first time in its history, the Egyptian Exchange (EGX) market capital exceeded on Sunday EGP 1.1 trillion prompted by strong activities of major stocks in the banking, communications, real est...
Egypt Released 135,000 Tons of Corn, Soy Fodder Worth $91 Million from Ports Last Week: Minister
1/30/2023 - Egypt's Ministry of Agriculture and Land Reclamation, in cooperation with the Central Bank of Egypt (CBE), has secured over the past week the release from ports of 135,000 tons of corn and soy fodder ...
US Dollar Stabilizes at Beginning of Trading Wednesday
2/1/2023 - The US dollar price stabilized at the beginning of trading, Wednesday, February 1, in banks, after its last rise against the pound at the Central Bank of Egypt, hitting LE30.15 for purchase and LE30.2...
Egypt’s Central Bank to Review Key Interest Rates on Thursday, The First Under IMF Loan Deal
2/2/2023 - The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) is scheduled to convene, the first meeting in 2023, to review the key interest rates in light of the recent updates in the countr...
Dollar Exchange Rate Stable Thursday Morning
2/2/2023 - The dollar and euro exchange rates to the EGP were stable at the beginning of transactions at Egypt's major banks, with the dollar recording an average of EGP 30.2 and the euro registering EGP 33.2.
Dollar Prices Stable at Egypt's Major Banks at Early Monday's Transactions
2/2/2023 - The dollar exchange rate was stable at the beginning of transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP 24.66 for b...
Al Tor Port Receives 1st Oil Rig for Maintenance Operations
2/5/2023 - Head of the Suez Canal Economic Zone Walid Gamaleddin said that a special plan has been laid out to re-operate Al Tor Port through an agreement with a company working in the oil exploration domain in ...
Minister of Military Production Conferred With Romanian Minister of Economy
2/6/2023 - Minister of Military Production Mohamed Salah El-Din conferred with Romanian Minister of Economy Florin Spataru on means of bolstering joint cooperation.

During the meeting, Salah El-Din as...
Arab African International Bank Raises Interest on Certificates of Deposit
2/6/2023 - The Arab African International Bank announced raising the interest rate on certificates of deposits to become the highest in the banking market, after 25 percent CDs were suspended in most banks to at...
Egypt, Russia Sign Agreement to Establish Railway Factory
2/6/2023 - Egypt and Russia have signed their largest economic deal in its history, coming to establish a workshop for the maintenance and overhaul of Russian train coaches of all kinds to prepare to establish a...
CBE: US$ 4.1 Billion in Tourism Revenues During The First Quarter
2/6/2023 - The Central Bank of Egypt revealed, in the Balance of Payments report, that tourism revenues rose by 43.5 percent to record US$ 4.1 billion compared to US$ 2.8 billion during the same of last year.
PM Reviews Progress in Soda Ash Complex Project
2/6/2023 - Prime Minister Mostafa Madbouli asserted the necessity of going ahead with implementing the project of establishing the soda ash complex.

The project comes in implementation of directives o...

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