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Financials and Investment News in Egypt

Egypt’s Gold Reserves Rise to $7.773 Billion in January: CBE
3/22/2023 - Egypt’s reserves of gold rose, reaching a value of US$7.773 billion in January, from $7.326 billion in December 2022, the latest data of the Central Bank of Egypt showed.

The latest monthly...
US Dollar Price Stabilizes in Egypt Thursday
3/22/2023 - The price of the US dollar stabilized against the Egyptian pound, at the beginning of trading, March 23, the first day of Ramadan, in the Central Bank of Egypt, the National Bank of Egypt, and governm...
World Bank Launches Its Country Strategy for Egypt Worth $7 Bln
3/23/2023 - The World Bank Group (WBG) Board of Executive Directors approved a new Country Partnership Framework (CPF) for Egypt, laying out the WBG’s strategy in the country for FY2023–2027, the WBG announced .<...
Minister: International Partnerships Provided Private Sector With $7 Bn Over 3 Years
3/25/2023 - International partnerships have provided $7 billion to the private sector in the previous three years, including $2.6 billion in 2022, Minister of International Cooperation Rania Al-Mashat said.
Reviews Proposals to Improve Ring Road's General Appearance
3/25/2023 - Prime Minister Mostafa Madbouli chaired a meeting to review proposals aiming to improve the general appearance of the Ring Road.

The Faculties of Engineering at Cairo and Ain Shams Universi...
Transport Ministry Adopts Comprehensive Plan to Stimulate River Transport Investments
3/25/2023 - The Ministry of Transport has invited private companies to invest in river transport projects, making use of a comprehensive plan developed by the ministry to adopt a set of measures and mechanisms th...
AOI: Discussions on Localizing Technology for Producing Electric Car in Arab Countries
3/26/2023 - Chairman of the Arab Organization for Industrialization Mokhtar Abdel Latif underlined the importance of putting into effect the directives by President Abdel Fattah El Sisi on promoting cooperation w...
Egypt, US Sign Mous to Establish Technological Schools
3/27/2023 - Minister of Planning and Economic Development Hala El Said, Minister of Education and Technical Education Reda Hegazy and USAID Acting Mission Director in Egypt Margaret Sancho attended the signing ce...
PM Follows Up on Progress of ACI System
3/27/2023 - Prime Minister Mostafa Madbouli chaired a regular meeting to follow up on the position of implementing the Advance Cargo Information System (ACI).

The meeting was attended by Minister of Fi...
Planning Minister, US Charge D'affaires in Cairo Discuss Joint Cooperation
3/27/2023 - Minister of Planning and Economic Development Hala El Said conferred with US Charge D'Affaires Daniel Rubinstein on means of enhancing joint cooperation.

During the meeting, the minister re...
PM Reviews New Export Rebates Program
3/27/2023 - The government intends to prepare a program to support and develop Egyptian exports, based on the state's strong interest in the industry and the development of the export system to help Egyptian expo...
New Cigarette Prices After Increase in Egypt
3/27/2023 - There are new rates for the price of cigarette in Egypt which have increased in said Ibrahim Imbaby,

Head of the General Division of Tobacco and Cigarettes at the Federation of Egyptian In...
Egypt’s Privatisation Programme: Updates, Potential Moves
3/27/2023 - Egypt has recently taken concrete steps towards the investment opportunities it offers for strategic investors or under the government’s initial public offering (IPO) programme, through which 32 state...
Saudi National Bank Chair Resigns After Credit Suisse Buyout
3/27/2023 - The chairman of Saudi National Bank, the main shareholder of troubled lender Credit Suisse which was bought out this month, has resigned, a statement said.

The Saudi bank's board of directo...
59,000 Tons of Goods Handled at Red Sea Ports
3/28/2023 - As many as 59,000 tons of goods were handled at the different harbors of the Red Sea, including 838 trucks and 18 cars, the Red Sea Ports Authority (RSPA) said in a statement.

The imports i...
Bank Rules Under Review in Wake of SVB Failure: Fed Official
3/28/2023 - The Federal Reserve’s bank supervisors warned Silicon Valley Bank’s management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said but its managers ...
SCZONE Chief Signs A Framework Business Agreement of The Suez Canal Container Terminal
3/28/2023 - Head of the Suez Canal Economic Zone (SCZONE) Walid Gamal Eldin said that the SCZONE seeks to provide many incentives, including reducing port, anchorage and pilotage fees imposed on all container shi...
Irrigation Minister Reviews Measures to Check on Water Facilities
3/28/2023 - Minister of Water Resources and Irrigation Hani Sewilam asserted that the ministry is taking all necessary measures to check on the water distribution system and canals network in the various governor...
Report: Will CBE Raise Interest Rates at Its Next Meeting?
3/28/2023 - The Research Department of HC Securities and Investment expected the Central Bank of Egypt’s Monetary Policy Committee would raise the interest rate at its next meeting.

“We expect the Mone...
All Eyes on Egypt's Central Bank Meeting Amid Expected Interest Rates Hike
3/29/2023 - The Central Bank of Egypt's (CBE) Monetary Policy Committee (MPC) is scheduled to convene to review the key interest rates for the second time in 2023 amid broad expectations of a surge in interest ra...

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