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Financials and Investment News in Egypt

Egypt Launches 1st Gold Investment Fund
5/15/2023 - Egypt’s Financial Regulatory Authority approved the establishment of the nation’s first fund to invest in gold, enhance financial and investment inclusion, and build an advanced non-banking financial ...
Markets Mostly Up as Focus Turns to US Debt Talks
5/15/2023 - Asian and European markets mostly rose as investors kept an eye on the talks to raise the US debt limit to avert a "catastrophic" default.

There has been some progress on reaching a deal bu...
8 Years of Implementing Strategies to Reduce Gap Between Production, Consumption
5/15/2023 - The Egyptian State exerting great efforts to achieve integrated agricultural development within the framework of its efforts to maintain food security, especially from strategic crops, particularly wh...
Sisi Reviews Projects, Investments Implemented By Norway's Scatec Company in Egypt
5/15/2023 - President Abdel Fattah El Sisi received Norway's Scatec company chief and top officials to follow up on the projects and investments carried by the company in Egypt in the field of renewable energy, s...
Dollar Rate Stable at Egypt's Major Banks
5/15/2023 - The US dollar exchange rate was stable at the start of transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP 30.75 for buy...
460,000 Feddans Reclaimed Till End of 2022: National Company for Land Reclamation
5/15/2023 - As many as 460,000 feddans have been reclaimed till the end of the year 2022, upon directives of President Abdel Fattah El Sisi on expanding the area of the country’s agricultural land, said Chairman ...
Apache Wants More Concession Areas in Egypt’s Desert
5/16/2023 - The Apache Oil Company is trying to acquire a large number of new areas in Egypt to search and explore for oil, particularly after its work in the Western Desert.

Egyptian Minister of Petro...
EBRD Cuts Egypt’s Real GDP Growth in 2023 By 0.1%, Increases Forecast By 0.2% in 2024
5/16/2023 - For the second time since February, the European Bank for Reconstruction and Development (EBRD) has downgraded its forecast for Egypt’s real GDP growth to 4.2 percent, a 0.1 percent decrease from its ...
Egypt, Indonesia Ink Deal to Boost Bilateral Trade
5/16/2023 - The Egyptian trade minister and his Indonesian counterpart signed an agreement to form a trade committee to support trade between both countries, according to a cabinet statement .

The agre...
Irrigation Minister Follows Up on Water Situation Across Egypt
5/17/2023 - Irrigation Minister Hany Swailam said that all affiliated bodies are placed on high alert to secure enough water during the peak-of-need period.

Swailam, during a meeting with senior offici...
PM Attends Signing of Mou on Renewable Energy Exportation Project
5/17/2023 - Prime Minister Mostafa Madbouli attended on Monday the signing of a memorandum of understanding between the Egyptian Electricity Transmission Company and Scatec ASA, a Norwegian leading renewable ener...
Why De-Dollarizing Egypt Is Easier Said Than Done
5/17/2023 - Egypt has been considering importing wheat in exchange for foreign currencies other than the USD, including the Indian rupee and Chinese yuan, Minister of Supply and Internal Trade Ali Moselhi stated ...
Mashat Discusses Cooperation With EBRD to Lure Private Sector's Participation in NWFE Projects
5/17/2023 - Minister of International Cooperation Rania Mashat had talks with President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso on the executive measures taken in tandem ...
Cabinet Approves Bill on Incentives of Projects of Green Hydrogen, Its Derivatives
5/17/2023 - The Cabinet approved - during its meeting under Prime Minister Moustafa Madbouli - a bill on incentives for projects of green hydrogen and its derivatives.

The bill stipulated that the law ...
Communications Minister Opens Pwc ETIC With $10mn Investments
5/17/2023 - Minister of Communications and Information Technology Amr Talaat has opened Egypt’s Technology and Innovation Center (ETIC) of PricewaterhouseCoopers International Ltd (PwC) in Cairo, with investments...
President Directs Officials to Enhance Private Sector’s Role in Universal Health Insurance System
5/17/2023 - Finance Minister Mohamed Maait said that the president had directed officials to enhance the private sector’s role in implementing the Universal Health Insurance System in order to swiftly carry out t...
Africa's Business Heroes Competition Plays Significant Role in Supporting Entrepreneurship Landscape
5/17/2023 - The Africa’s Business Heroes (ABH) Prize Competition, a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, launched its fifth annual edition in March this year, cal...
Egypt's Business Community Welcomes New Decisions to Improve Investment Climate
5/18/2023 - Egypt's business community has welcomed the government's new decisions bolstering support for investors in Egypt, while some members have called for more legislative reforms followed by relevant bylaw...
Egypt Facilitates VAT Exemption for Imported Production Equipment
5/18/2023 - Egypt has amended the Value Added Tax (VAT) Law to facilitate procedures for waiving VAT taxes on machines and equipment imported for production, according to a statement by the Ministry of Finance.
INTERVIEW: Investing in Egyptians Key to Success, Says Egyptian-American Enterprise Fund Chair
5/18/2023 - The US government-funded private equity Egyptian-American Enterprise Fund (EAEF) released its 10-year impact report this week, shedding light on its role in supporting Egypt’s economy.

EAEF...

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