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Financials and Investment News in Egypt

IDSC Publishes Report on Development of Export Sector Over 8 Years
5/7/2023 - The Cabinet’s Information and Decision Support Center (IDSC) published a report on the development of the different export sectors over the past eight years.

The report focused on achieveme...
CAPMAS: Egypt's Imports of Diesel Oil Up By 58.8 Percent in 2022
5/7/2023 - The Central Agency for Public Mobilization and Statistics (CAPMAS) said Egypt's imports of diesel oil upped to dlrs 3.5 billion during 2022 against dlrs 2.2 billion in 2021.

In a statement,...
Participation of Private Sector, Civil Society 'Vital' to Attain Sdgs :Kamali
5/7/2023 - Deputy Minister of Planning and Economic Development Ahmed Kamali underlined the importance of the participation of both the private sector and the civil society in attaining the sustainable developme...
Fitch's Downgrade is The Result of Unrelenting External Pressures on Egypt's Economy: Maait
5/7/2023 - Minister of Finance Mohamed Maait attributed Fitch Ratings' decision to downgrade Egypt's sovereign credit rating -- giving it a Negative Outlook --to the country's continuous struggle against the ext...
Fouad Meets Her Somali Counterpart
5/10/2023 - Environment Minister Yasmine Fouad said Egypt is currently focusing on implementing national programs in different environment domains such as files of wastes and reserves, in addition to boosting env...
Inflation Rate Increases By 1.8% in April: CAPMAS
5/10/2023 - The inflation rate in April increased by 1.8% recording 169.6 points more than March, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.

The annual inflation rate incr...
Cabinet Holds Weekly Meeting to Discuss Important Files
5/10/2023 - The Cabinet, under Prime Minister Moustafa Madbouli held in the New Administrative Capital its weekly meeting to probe a number of political, economic and social files as well as the latest developmen...
El-Gazzar Presents to His Angolan Counterpart The Urban Experience That Egypt Is Witnessing
5/10/2023 - Dr. Assem El Gazzar Minister of Housing, Utilities and Urban Communities, met at the headquarters of the Ministry of Housing in the New Administrative Capital, Angola’s Minister of Public Works, Urba...
El-Qusair Discusses With His American Counterpart Ways to Enhance Prospects
5/10/2023 - On the sidelines of the Climate Summit of the US-Emirati Initiative for Agricultural Innovation, which is currently being held in the US capital, Washington, Mr. Al-Qaseer, Minister of Agriculture and...
Egypt's Cabinet Approves A Draft Decree Exempting Travellers from Gold Tax
5/11/2023 - The Egyptian government approved a draft decree during its weekly meeting exempting travellers who bring gold from customs duties and other fees -- except value-added tax (VAT) -- for a period of six ...
Suez Canal Economic Zone Collaborates With Global Operators to Boost Ports' Competitiveness
5/13/2023 - The Suez Canal Economic Zone is considering incentives to attract global shipping lines to its ports and leverage its strategic geographical location on both sides of one of the world's most important...
Grain Industry: 123 Mills in EGYCOMEX
5/13/2023 - The Chamber of Grain Industry said that the Egyptian Commodities Exchange (EGYCOMEX), which was launched by the Ministry of Supply and Internal Trade succeeded in making a balance in controlling price...
Finance Minister: We Welcome AIIB Annual Meetings in September in Egypt
5/13/2023 - Finance Minister Mohamed Maait, Egypt's governor of the Asian Infrastructure Investment Bank, welcomed hosting the annual meetings of the Asian bank in Sharm El Sheikh in September.

The 202...
New Measures Approved for Supporting Investment of El Mahalla El Kubra Industrial Park Units
5/13/2023 - The Industrial Development Authority's (IDA) board of directors approved during its latest meeting a set of measures to facilitate investment measures for leaseholders of industrial units at El Mahall...
Finance Minister: We Deal With Int'l Crises With Integrated Package of Measures
5/13/2023 - Finance Minister Mohamed Maait said Egypt is dealing with the compound global crises with a package of integrated economic measures to support the Egyptian economy and incentivize investment, producti...
GAFI Head, UAE Companies Representatives Probe Boosting Investment Chances in Egypt
5/13/2023 - The CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba discussed with a number of representatives of organizations and investment bodies as well as several UAE companies vi...
Planning Minister, ICIEC CEO Probe Means to Promote Cooperation
5/13/2023 - Planning and Economic Development Minister, Hala el Saeed, has discussed with the CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), Oussama Kaissi, means to cem...
EGP to Witness Its 4th Depreciation Against USD By June: Fitch Solutions
5/14/2023 - Fitch Solutions said that the fourth Egyptian pound devaluation will occur in the context of progress on the divestment strategy Egypt is enacting. Egypt is currently working on reducing the governmen...
EU Diplomat Visits Alexandria for Talks on Water, Trade Cooperation
5/14/2023 - EU Ambassador to Egypt Christian Berger paid a visit to Alexandria to mark Europe Day.

For three days, the diplomat will hold meetings with members of the business community, young people a...
Finance Ministry: More Than 162 Million Shares of Telecom Egypt Offered for Sale
5/14/2023 - The Finance Ministry announced the sale of the first batch of Telecom Egypt shares in the secondary market of Stock Exchange.

According to the ministry, 9.5 percent of the company's shares ...

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