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Financials and Investment News in Egypt

Finance Min.: Initial Surplus Recorded 1.3%, Growth Rate Hit 4.2% in FY 2022-23
8/1/2023 - Finance Minister Mohamed Maait said Egypt achieved for the first time an initial surplus of 1.3 percent in fiscal year 2022-2023, after suffering an initial deficit ranging between 3-5 percent for mor...
Saudi Approves $1.2 Bln in Yemen Aid: Officials
8/1/2023 - Experts and analysts believe that the high-yield US dollar savings certificates offered by the National Bank of Egypt and Banque Misr are a new attempt by the banking sector to attract the remittances...
Cabinet's IDSC Releases 3rd Issue of "Industrial Prospects" Journal
8/1/2023 - The Cabinet's Information and Decision Support Center (IDSC) has released the third issue of "Industrial Prospects" journal titled "Transition to the Fifth Industrial Revolution".

Industria...
Finance Min.: Initial Surplus Recorded 1.3%, Growth Rate Hit 4.2% in FY 2022-23
8/1/2023 - Finance Minister Mohamed Maait said Egypt achieved for the first time an initial surplus of 1.3 percent in fiscal year 2022-2023, after suffering an initial deficit ranging between 3-5 percent for mor...
Cabinet Launches 'Let's Think' Initiative to Develop Foreign Exchange Resources
8/2/2023 - The Information and Decision Support Centre (IDSC) of the Cabinet announced the launching of the "Let's Think for Our Country" initiative to create sustainable foreign exchange resources in Egypt.
Trade Min.: Over 790 Turkish Companies Invest in Egypt
8/2/2023 - Trade and Industry Minister Ahmed Samir said over 790 Turkish companies are investing in Egypt.

Turkish investments in Egypt stood at about dlrs 2.5 billion in addition to more investments ...
ENR And Lenza Egypt to Establish New Spare Parts Manufacturing Company
8/2/2023 - The Egyptian National Railways (ENR) has announced plans to establish a new join-stock company to produce mechanical spare parts in partnership with Lenza Egypt for Projects Engineering Equipment.
...
Irrigation Min Reviews Progress of Projects Implemented By Egypt in South Sudan
8/2/2023 - Water Resources and Irrigation Minister Hany Sueilam reviewed with Egyptian Ambassador to South Sudan Motaz Mostafa the progress of the Egyptian-South Sudanese development projects in the water resou...
Egypt Enjoys Competitive Edge In Producing Green Hydrogen
8/2/2023 - Egypt’s Prime Minister Moustafa Madbouli said that Egypt adopted a series of important measures that enabled it to occupy a competitive place in the green hydrogen sector, thanks to the political lead...
Egyptian Fertilizer Producers Report Marginal Impact After Natural Gas Supply Reductions
8/2/2023 - Seven Egyptian fertilizer manufacturers reported a marginal to moderate impact on operations following the Ministry of Petroleum's decision to reduce natural gas supplies to fertilizer factories by 20...
Market Watch: Gold Climbs Higher in Egypt ; Stock Market Indices End In Red
8/2/2023 - The gold prices inched higher, while the Egyptian Exchange indices suffered a marginal decline.

Stock market The leading index EGX30 declined by 0.33 percent to end at 17,455.6 points.
...
PM Madbouli Lauds Growing Momentum In Egyptian-Italian Relations In Different Areas
8/2/2023 - Prime Minister Mostafa Madbouli said the State provides all possible facilitation to promote local and foreign agriculture investment.

Madbouli made the remarks on Tuesday1/8/2023 during a ...
DUBAL Holding, Oriental Copper to Manufacture High-Quality Copper Products in UAE
8/3/2023 -  DUBAL Holding, the investment arm of Dubai Government in the commodities, mining, power, energy, and industrial sectors, has signed a Memorandum of Understanding (MoU) with Oriental Copper, a manufac...
Cabinet Lauds State Efforts to Boost Competitiveness of Suez Canal
8/6/2023 - The Egyptian Cabinet’s media center said that the State has been acting hard to enhance the competitiveness of the Suez Canal and maximize its status as a vital and safe international trade route.
...
CBE Announces Increase in Foreign Currency Reserves By $72bn
8/7/2023 - The Central Bank of Egypt (CBE) announced Sunday an increase in the reserves of foreign currencies by about 72 million dollars.

The CBE put the total reserves of foreign currencies at about...
Dollar prices stable at major Egyptian banks
8/7/2023 - The exchange rate of the US dollar against the Egyptian pound was stable at the beginning transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dolla...
Attends Signing of Contract on Egypt's First Locally-Manufactured Electric Vehicle
8/7/2023 - Higher Education and Scientific Research Minister Ayman Ashour attended the signing ceremony of contracts on Egypt's first locally-manufactured electric vehicle (EV).

This came upon directi...
Mous With Jordan to Bolster Ties in Various Fields
8/7/2023 - Egypt and Jordan signed, 7-8-2023, 12 MoU and co-operation programmes aiming to boost bilateral ties in various fields.

The Egyptian Jordanian Joint Higher Committee convened in Amman for i...
Egypt Introduces New Custom Facilities to Boost Exports
8/7/2023 - Egypt’s Ministry of Finance announced in a statement on Monday new facilities for customs declarations and transits.

Under the new facilities, importers can now submit customs declarations ...
Agriculture Minister Opens Lab for Soil Fertility
8/8/2023 - Egypt’s Minister of Agriculture and Land Reclamation El Sayyed El Quseir inaugurated a laboratory for soil fertility and inspected a remote-sensing unit at the Soil and Water research Institute (SWRI)...

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