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Financials and Investment News in Egypt

CAPMAS: Inflation Rate Increased By 2.7% in May
6/10/2023 - The Central Agency for Public Mobilization and Statistics (CAPMAS) said that the inflation rate recorded 174.1 points in May, marking a 2.7% rise in comparison with April.

The inflation rat...
Moselhi: Wheat Reserve Sufficient for 5.9 Months
6/10/2023 - Minister of Supply and Internal Trade Ali el Moselhi said that the country's strategic wheat reserve is sufficient for 5.9 months.

The local wheat supplies till now reached 3.44 million ton...
30% of Development Cooperation Portfolio Directed to Private Sector: Al-Mashat
6/12/2023 - 30 percent of the development cooperation portfolio is directed to the private sector with an aim to expand constructive partnerships to provide soft development funds for private sector companies,”Th...
Gov't Eyes 50% Increase in Green Investments During FY2024/2025: Planning Min.
6/12/2023 - As part of its Vision for 2030, the Egyptian State believes in the vital role of green investments for promoting inclusive growth, creating more jobs, and ensuring environmental sustainability, Minist...
House Approves Detailed Budget of 2023-2024
6/12/2023 - Meeting under speaker Dr Hanafy Gebaly , the House of Representatives approved a report by the planning committee about the detailed budget of the lower chamber of parliament for the fiscal year 2023-...
Egypt, Korea Sign $460 Mln Deal to Co-Manufacture Cairo Metro Trains
6/12/2023 - Ministry of International Cooperation signed, 12-6-2023, a $460 million deal with the Korean Economic Development Cooperation Fund (EDCF) to implement a project for co-manufacturing and providing trai...
Environment Minister: Ateco Pharma Environment-Friendly Factory
6/12/2023 - All production lines of Ateco Pharma factory should take into consideration all standards of rationalizing energy and water, said Minister of Environment Yasmin Fouad.

During an inspection...
Why Did Egypt's Inflation Start to Rise Again in May?
6/12/2023 - Egypt's inflation started to rise again in May, with experts ascribing the increase to the dollar crisis and its impact on imports.

The monthly increase in both headline and urban inflation...
Irrigation Minister, FAO Discuss Joint Projects
6/14/2023 - Minister of Water Resources and Irrigation, Hani Sweilam met, 14-6-2023, with Nasr El-Din Haj El-Amin, representative of the FAO in Egypt, to discuss the executive procedures for the “Enhancement of W...
Egypt Stresses Cooperation With Nile Basin Countries, Especially South Sudan
6/14/2023 - Egypt is committed to meeting the needs of its neighbouring countries in the Nile Basin, especially South Sudan, said Minister of Water Resources and Irrigation Hani Sewilam.

This came duri...
Bid to Boost IT Co-Operation With OECD
6/14/2023 - Egypt’s Minister of Communications and Information Technology (MCIT) Amr Talaat met with Organisation for Economic Co-operation and Development (OECD) secretary-general Mathias Cormann in Paris.
Egypt’s Licensed Vehicles Drop By 8.9% in 2022: CAPMAS
6/14/2023 - The number of licensed vehicles in Egypt declined by 8.9 percent to 9.9 million at the end of 2022, down from 10.9 million a year earlier, reported the Central Agency for Public Mobilization and Stati...
US Dollar Price in Egypt Remains Stable on Thursday
6/15/2023 - The price of the US dollar continued to stabilize on Thursday in Egyptian government and private banks, including the Central Bank of Egypt and the National Bank of Egypt.

The price of the ...
Trade Minister Holds Meetings With Senior Officials Participating in St. Petersburg Economic Forum
6/17/2023 - Minister of Trade and Industry Ahmed Samir held a set of intensified one-on-one, multilateral and business meetings on the sidelines of his participation in the 26th St. Petersburg International Econo...
Finance Minister: Egyptian Economy Capable of Luring Fdis
6/17/2023 - Finance Minister Mohamed Maait said the Egyptian economy is capable of attracting foreign direct investment inflows despite international challenges.

Egypt managed to lure dlrs 5.7 billion ...
ABA, Delegation of 26 Francophonie Countries, France Probe Economic Cooperation
6/17/2023 - Members of the Alexandria Business Association (ABA) convened with a high-level delegation of the Francophonie countries, comprising representatives from 22 African countries as well four from the Ame...
Finance Minister: Egypt Mobilizes All Capabilities to Increase Investment
6/17/2023 - Egypt mobilizes all its capabilities to prop up investment and local production, affirmed Finance Minister Mohamed Mait.

The government has taken effective steps in implementing structural ...
Trade Minister Attends Russia-Hosted Forum
6/17/2023 - Trade and Industry Minister Ahmed Samir participated in the proceedings of the 26th annual St. Petersburg International Economic Forum (SPIEF).

During his visit, the minister inspected seve...
Egypt's 11-Month Primary Surplus 1.2% of GDP: Finance Minister
6/17/2023 - Egypt's primary budget surplus was 1.2 percent of GDP during the first 11 months of the current fiscal year (FY2022/23), which ends 31 June, Egypt’s Minister of Finance Mohamed Maait said.

...
UAE Leader Probes Trilateral Cooperation in Russian Industrial Zone in Egypt’s Sczone
6/17/2023 - United Arab Emirates leader Sheikh Mohamed bin Zayed Al Nahyan probed, in a meeting with Russian President Vladimir Putin, the possibility of establishing trilateral cooperation with Egypt in the Russ...

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