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Financials and Investment News in Egypt

$834 Mln to Support Environmental Projects in Egypt
7/3/2023 - The Egyptian Ministry of Environment announced, through a report, that a total of $834 million (from grants and loans) is mobilized to support the implementation of various environmental projects.
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Egypt Adds 28 New Locomotives to Suez Canal Fleet
7/3/2023 - Lieutenant-General Osama Rabie, head of the Suez Canal Authority (SCA), confirmed that Egypt added 28 new locomotives to the Suez Canal fleet, as part of a future plan to develop the maritime fleet.
$5B Wind Farm to Be Built By Norway's Scatec in Egypt to Produce 5GW of Electricity Annually
7/5/2023 - The New and Renewable Energy Authority will secure a land plot for Norway's Scatec ASA to build a wind farm western Sohag as per an agreement they signed in the presence of Prime Minister Mostafa Madb...
Egypt’s Cabinet Approves France’s Alstom Proposal to Establish Industrial Complex
7/5/2023 - An investment plan by French company Alstom was approved in principle by the cabinet to establish an industrial complex in Alexandria.

The cabinet will then study the requirements and ince...
Dollar Prices Stable at Start of Wednesday’s Transactions
7/5/2023 - The dollar exchange rate was stable at the start of Wednesday’s transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP 30.7...
El Qusier: State Working on Expanding Production of Highly Productive Seeds
7/5/2023 - Minister of Agriculture and Land Reclamation El Sayed el Qusier said the ministry is working on expanding production of highly productive seeds for strategic crops, to help farmers increase their inco...
Egypt Sees Decrease in Exports/Imports And Increase in Trade Balance Deficit
7/6/2023 - The foreign trade data bulletin for April, issued by the Central Agency for Public Mobilization and Statistics, showed an increase in the trade balance deficit value by about 23.8 percent after it rea...
Maait: EGP 6.8 Trln Value of E-Payment of Gov't Services Until May
7/6/2023 - Finance Minister Mohamed Maait said the value of e-payment of government services hit about 6.8 trillion pounds until the end of May.

He noted that no extra fees are imposed on citizens via...
El Qousair: Egypt Shares Agricultural Experience to Help Arab Countries
7/6/2023 - Agriculture Minister Sayed El Qousair has underlined the need to boost cooperation between his ministry and the Arab League’s Arab Organization for Agricultural Development (AOAD).

The mini...
Egypt Conducts Studies to Expand Electricity Linkage With Libya, Jordan
7/6/2023 - Minister of Electricity and Renewable Energy Mohamed Shaker told Youm7 that studies are underway to raise the output of electricity linkage with Libya from 150 megawatts to 2,000 megawatts.

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House Speaker Says Amendments to Investment Law of Special Importance
7/9/2023 - Speaker of the House of Representatives Hanafy Gebaly said that a bill submitted by the government to amend the investment law is of special importance and nature.

It directly affects the...
SCZONE: We Are Keen on Cooperation With Chinese Firms
7/9/2023 - The Suez Canal Economic Zone (SCZONE), said Dr. Ibrahim Abdel-Khalek, Vice chairman of (SCZONE) for Investment and Promotion Affairs, and Mr. Ahmed Saad, SCZONE’s CEO, received a business delegation f...
Dollar Prices Stable at Start of Sunday's Transactions at Egypt's Major Banks
7/9/2023 - The dollar exchange rate was stable at the start of Sunday’s transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP 30.75 f...
Al-Mashat Heads to Beijing to Participate In Meeting of The Forum on Global Action
7/9/2023 - The Minister of International Cooperation, H.E. Dr. Rania A. Al-Mashat headed to the Chinese capital, Beijing, to participate in the 1st High-Level Meeting of the Forum on Global Action for Shared Dev...
Egypt’s E-Commerce Volume Rises to $30 Bln: Senior Banker
7/10/2023 - The volume of e-commerce in Egypt has increased to US$30 billion, said the CEO and Managing Director of United Bank, Ashraf al-Kady, adding that 72 percent of Egyptians have switched to online shoppin...
Tourism Revenues in Egypt to Rise to $14.4 Bln: Fitch Solutions
7/10/2023 - The Fitch Solutions agency issued a report expecting tourism revenues in Egypt to rise to US$14.4 billion in 2023, compared to $13 billion during 2022.

The report anticipates recovery in th...
Egypt Inflation Hits All-Time High in June, Reaching 36.8%
7/10/2023 - Egypt's headline inflation maintained its upward trend in June, reaching 36.8 percent, compared to 34.8 percent in May, as announced by the Central Agency for Public Mobilization and Statistics (CAPMA...
Protocol to Launch 2nd Phase of Award on Confronting Climate Change in Africa
7/10/2023 - The Egyptian Environmental Affairs Agency (EEAA), affiliatedto the Ministry of Environment, and the Association for Sustainable Quality of Living (Estidama) has signed a co-operation protocol for the ...
FAO Delegation Visits DRC in South Sinai to Discuss Sustainable Development Projects
7/10/2023 - A delegation of the Food and Agriculture Organization (FAO) paid a visit on Monday to the premises of the Desert Research Center (DRC) station in South Sinai to discuss means of implementing sustainab...
PM Follows Up on Procedures of Localizing Industry, Production Requirments
7/10/2023 - Prime Minister Moustafa Madbouli said the state has introduced a set of unprecedented incentives meant to localize multiple strategic industries, in order to secure the availability of high-demand pro...

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