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Financials and Investment News in Egypt

Egypt’s Inflation to Hit 25.9% Over 2023: Fitch Solutions
3/12/2023 - Fitch Solutions raised its projection for Egypt’s inflation during 2023 to 25.9 percent, up from 18.3 percent it projected in February, according to its updated report on MENA Monthly Outlook.

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HSBC Will Buy UK Subsidiary of Collapsed Silicon Valley Bank
3/13/2023 - The UK Treasury and the Bank of England have “facilitated the sale? of Silicon Valley Bank UK to HSBC, ensuring the security of 6.7 billion pounds ($8.1 billion) of deposits.

British offici...
Japan Supports Egypt’s Agricultural Production With $3.8mln Grant Aid Through FAO
3/13/2023 - With the aim of improving agricultural productivity for food security in Egypt, Ambassador of Japan in Egypt Oka Hiroshi has recently signed a financing agreement with Representative of Food and Agric...
IDSC: Egypt Transformed Into World's Most Important Center for Outsourcing Services
3/13/2023 - The Cabinet Information and Decision Support Center (IDSC) said that Egypt has 35 international centers for outsourcing services which provide 34,000 job opportunities with a plan of doubling their bu...
107 Ships Transit Suez Canal, Highest Daily Record in Canal's History
3/13/2023 - Chairman of the Suez Canal Authority (SCA) Osama Rabie said that 107 ships crossed the waterway in the two directions ,carrying a total cargo of 6.3 million tons, representing the highest daily record...
PM Reviews Main Features of Draft Budget of FY 2023-2024
3/13/2023 - Prime Minister Mostafa Madbouli headed a meeting on to review the main features of the public budget of the state for fiscal year 2023-2024 in the presence of Finance Minister Mohamed Maait, Deputy Mi...
Egypt, Denmark Renew Strategic Energy Cooperation Agreement
3/13/2023 - Prime Minister Mostafa Madbouli and Danish Prime Minister Mette Frederiksen witnessed the inking of documents on the extension of a strategic energy sector cooperation and technical aid agreement betw...
Molla: Incentives to The Companies Invest in Green Hydrogen
3/13/2023 - Minister of Petroleum and Mineral Wealth Tarek El Molla asserted that the ministry aims at coping with rapid international developments in the field of sustainability and energy to provide more invest...
Egyptian Government to Offer 4 Major Companies Through International Investment Banks
3/13/2023 - The spokesman for the Egyptian Cabinet Nader Saad announced consensus among the government members to start the procedures for offering the “Wataniya” and “Safi” companies through the offering advisor...
Dollar Price Stable At Egypt's Major Banks
3/14/2023 - The US dollar exchange rate was stable at the beginning of Tuesday's transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP...
Mashat Participates in The Higher Committee for Energy Between Egypt and Germany Meeting
3/14/2023 - Minister of International Cooperation, Rania Al-Mashat, participated in the first meeting of the Higher Steering Committee for cooperation between Egypt and Germany in the field of energy and green hy...
Abul Gheit: War in Ukraine Affect Int'l Financing Sustainable Projects
3/14/2023 - Arab League Secretary General Ahmed Abul Gheit said the Russian-Ukrainian war will inevitably affect international efforts to address more pressing issues.

Addressing the 2023 Arab Forum fo...
Egypt, India Discuss Aspects of Joint Cooperation
3/14/2023 - State Minister for Military Production Mohamed Salaheldin Moustafa asserted the depth of ties between Egypt and India and the profound cooperation between them in the different domains.

Thi...
PM Attends Signing Of Cooperation Protocol of NPDEF's Financial Incentive Program
3/14/2023 - Prime Minister Moustafa Madbouli attended the signing of a cooperation protocol between the planning and economic development and finance ministries on the financial incentive program of the National ...
What Has Egypt Fulfilled Ahead of The IMF First Review ?
3/14/2023 - The IMF will conduct semi-annual reviews in March and September of each year until the end of the program in September 2026 and will accordingly disburse equal tranches worth $347 million.

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Misr Insurance Company Ownership Transferred to Egypt’s Sovereign Fund
3/14/2023 - Egypt’s President Abdel-Fattah El-Sisi issued decree no. 103 for 2023, transferring complete ownership of the Misr Insurance Holding Company to the Sovereign Fund of Egypt (TSFE).

Before it...
Egypt's Economy Expected to Grow 4.2 Percent in FY 2022-23: Planning Min
3/15/2023 - Egypt’s economy is expected to grow - according to initial estimates - by 4.2 percent during the first half of FY 2022-2023, said Planning and Economic Development Minister Hala el Said.

De...
PM:Gov't Keen on Promoting Competition Among Public Servants
3/15/2023 - Prime Minister Mostafa Madbouli said Egypt’s Government Excellence Award reflects the Egyptian State's commitment to promote competition among employees at government institutions and encourage innova...
Abul Gheit: War in Ukraine Affect Int'l Financing Sustainable Projects
3/15/2023 - Arab League Secretary General Ahmed Abul Gheit said the Russian-Ukrainian war will inevitably affect international efforts to address more pressing issues.

Addressing the 2023 Arab Forum fo...
Minister: Mokattam Corniche Project's Revenues to Pass EGP 60 Billion
3/18/2023 - The giant project to develop Mokattam Corniche will generate revenues of more than ?EFP 60 billion, Minister of Public Business Sector Mahmoud Esmat said.

The minister was addressing a sign...

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