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Financials and Investment News in Egypt

Germany to Open Its Doors As Labour Shortage Bites
3/29/2023 - An apprenticeship at a steelmaker brought Steven Maillot from the French island of Reunion in the Indian Ocean to Eisenhuettenstadt in Germany, a stone's throw from the Polish border.

Bette...
GAFI Head Probes With Greece's Mytilineos Investment Cooperation
3/29/2023 - CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba discussed with representatives of the Greek company of Mytilineos investment opportunities in Egypt.

Mytilineo...
Mashat Launches 2022 Annual Report “International Partnerships for Sustainable Development
3/29/2023 - Minister of International Cooperation Rania el Mashat launched the 2022 Annual Report “International Partnerships for Sustainable Development: From Pledges to Implementation” in the presence of multil...
Cabinet Convenes Weekly Meeting to Discuss Important Files
3/29/2023 - A Cabinet meeting under Prime Minister Moustafa Madbouli started earlier at the New Capital to discuss a number of political, economic and social files.

The meeting will also tackle the lat...
Maait: UHIS to Reach all Governorates Before End of Year
3/29/2023 - Minister of Finance Mohamed Maait said the country's new Universal Health Insurance System (UHIS) will be extended to reach all parts of the governorates included in the 1st phase - Suez, Aswan and So...
Instapay Transactions Total LE112.7 Bn in A Year: CBE
3/29/2023 - The Central Bank of Egypt announced that the financial transactions that took place through instant payments network InstaPay during the fiscal year March 2022 – March 2023 totaled to LE 112.7 billion...
JICA to Fund Introduction of Egypt's Universal Health Insurance With 44B Yen
3/29/2023 - The Ministry of Finance and JICA signed the executive agreement for the latter to fund the introduction of the Universal Health Insurance in Egypt with 44 billion yen as a soft loan.

Minist...
Egypt's Food Exports Up to Dlrs 665 Million in 1st Two Months of 2023
3/29/2023 - The Food Export Council (FEC) said that the food industry sector's exports increased by 3% in the first two months of the current year to reach dlrs 665 million compared to dlrs 645 million during the...
Egypt Joins New Bank of BRICS Bloc
3/30/2023 - The Official Gazette in Egypt published President Abdel-Fattah al-Sisi’s ratification of the agreement establishing the New Development Bank (NDB), of the BRICS bloc, after Egypt signed the bank’s acc...
PM Follows Up Power Supply for Development Projects
4/1/2023 - Prime Minister Mostafa Madbouli has underscored the need to provide the necessary financing for supplying development projects with required electricity.

The premier’s remarks came a meetin...
Isdb Approves $344.5 Mln for Egypt's Electric Express Train
4/1/2023 - The 350th meeting of the Islamic Development Bank (IsDB) Board of Executive Directors approved $ 344.5 million for financing Phase I of the Electric Express Train Project in Egypt.

The obje...
Mashat: We Work to Encourage Investment Into Msmes
4/1/2023 - Minister of International Cooperation Rania el Mashat said her ministry works to encourage investment into micro, small and medium-sized enterprises (MSMEs), through constructive partnerships between ...
Military Production to Run Studies for Introducing New Products at Helwan Iron Foundries
4/1/2023 - Minister of State for Military Production Mohamed Salah El-Din instructed the bodies concerned to make the utmost use of the technological capabilities of Helwan Iron Foundries (previously Factory 9)....
CEEBA Mulls Maximizing Use of Soft Funding to Back Foreign Investments
4/1/2023 - Secretary General of the Confederation of the Egyptian European Business Associations (CEEBA) Alaa Ezz has discussed with Directorate-General for the European Union Neighborhood and Enlargement Negoti...
NRC, EOS Ink Cooperation Protocol
4/1/2023 - Acting President of the National Research Center (NRC) Hussein Darwish and President of the Egyptian Organization for Standardization and Quality Control (EOS) Khaled Sofi signed a protocol to enhance...
Egypt's Gross Debt to Reach 92.9% of GDP in 2023, Highest Record in Five Years: IMF
4/12/2023 - Egypt's general government gross debt is projected to reach 92.9 percent of GDP in 2023, read a Fiscal Monitor report by the International Monetary Fund (IMF).

This would be the highest rat...
Official Gazette Publishes PM’s Decision on Minimum Wages of Civil Servants
4/12/2023 - The official gazette published a decision issued by Prime Minister Moustafa Madbouli last week to amend some provisions of a decree on minimum wages of civil servants.

The amended decree st...
Development Banks Play Pivotal Role in Boosting Developmental Action : Mashat
4/12/2023 - Minister of International Cooperation Rania el Mashat asserted that the multi-party development banks play a pivotal role in boosting the developmental action with the developing countries and startup...
Cabinet Decides to Up Wheat Ardeb to EGP 1500
4/12/2023 - The Cabinet approved during a meeting under Premier Moustafa Madbouli on upping the price of wheat ardeb in the 2023 harvest season to 1,500 pounds.

The decision was taken in coordination w...
Cabinet Convenes Weekly Meeting to Discuss Imp Files
4/12/2023 - A Cabinet meeting, under Prime Minister Moustafa Madbouli, started earlier at the New Capital to discuss a number of political, economic and social files.

The meeting will also tackle the l...

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