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Financials and Investment News in Egypt

EBRD to Approve $125 Mln Loan to Damietta Port’s 2nd Terminal Project in October
8/20/2023 - The European Bank for Reconstruction and Development (EBRD) is set to approve a $125 million loan to build a second container terminal for Egypt's Damietta Port on 4 October, according to the bank's w...
Egypt Raises Governorates’ Special Funds Budget By 32% to Make Payroll
8/20/2023 - The Egyptian government has increased allocations to special funds and accounts in governorates, except for Cairo, by 32 percent for the fiscal year 2023/2024, in order to make payroll for state emplo...
Military Factory 270 Under Inspection
8/20/2023 - Minister of State for Military Production Mohamed Salah Eddin Moustafa inspected the Qaha Company for Chemical Industries (Factory 270 Military), one of the companies affiliated with the ministry.
...
SCA Eyes More South Korean Investment Projects
8/20/2023 - Chairman of the Suez Canal Authority (SCA) Osama Rabie held a meeting with South Korean Ambassador in Cairo Kim Yong-Hyun and his delegation.

During the meeting, the two sides discussed way...
Communications Min. Takes Part in G20 Ministerial Meeting on Digital Economy
8/20/2023 - Communications and Information Technology Minister Amr Talaat took part in India in a G 20 ministerial meeting on digital economy with the participation of ministers of the group as well as nine invit...
Due Diligence on Egypt’s United Bank to Kickstart End of September: CBE
8/21/2023 - The due diligence for the acquisition of the United Bank is scheduled to start by the end of September 2023, according to a statement by the Central Bank of Egypt (CBE) on Monday.

The CBE, ...
Egypt to Represent Africa in AIIB's 8th Annual Meeting in Sharm El-Sheikh
8/21/2023 - Egypt is set to represent Africa at the eighth annual meetings of the Asian Infrastructure Investment Bank (AIIB), which will convene in Africa for the first time on 25-26 September in Sharm El-Sheikh...
Egypt Enables Companies to Issue Multiple Sukuk With Single Regulatory Approval
8/21/2023 - Companies in Egypt can now issue multiple sukuk with single approval from the Financial Regulatory Authority (FRA), according to the recent amendments to the Capital Market Law (CML) by the Egyptian C...
Sisi Orders Continuing Support to Increase Volume of MSME Enterprises
8/21/2023 - President Abdel Fattah El Sisi ordered continuing efforts to support the Micro and Small Enterprises Authority (MSEA) with the aim of increasing the volume of its project in a way that meets the needs...
Egypt Authorizes IFC to Issue Local Currency Bonds in Global Markets
8/21/2023 - The Egyptian Cabinet has approved permitting the International Financial Corporation (IFC), the financial arm of the World Bank, to issue Egyptian pound bonds in international markets.

The ...
Global Food Security at Crossroads As Rice Shortages , Surging Prices Hit Most Vulnerable
8/21/2023 - Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him.

Prices for rice grown in Kenya soared a while ago because of higher fertilizer pr...
14,000 Tonnes of Goods Handled at Red Sea Ports
8/22/2023 - About 14,000 tonnes of goods were handled at different harbours of the Red Sea, the Red Sea Ports Authority (RSPA) said in a statement .

The imports included 6,500 tonnes of goods, 396 truc...
State Keen to Enhance Civil Aviation Sector: PM
8/22/2023 - The State attaches great importance to enhancing the civil aviation sector, in a way that enhances its competitiveness opportunities at the regional and international levels, and maximizes the potenti...
Bid for Closer Manufacturing Co-Operation With Tatarstan
8/22/2023 - Minister of State for Military Production Mohamed Salah Eddin met with Oleg Korobchenko, Deputy Prime Minister and Minister of Industry and Trade of the Republic of Tatarstan.

Korobchenko i...
‘2023 Remarkable Year for Co-Operation With India’
8/22/2023 - The year 2023 is a remarkable year for co-operation between Egypt and India.

This statement by Minister of International Co-operation Rania el-Mashaat said came during her meeting with Indi...
SCA Development, Green Transformation Strategy Outlined
8/22/2023 - Suez Canal Authority (SCA) works hard to maintain full co-ordination with the Suez Canal Economic Zone (SCZone). This comes in line with President Abdel Fatah El Sisi’s vision for optimal use of the S...
Service, Development Projects in New Valley Under Review
8/22/2023 - Minister of Housing, Utilities and Urban Communities Assem el-Gazzar held a meeting with New Valley Governor Mohamed el-Zamlot to follow up progress to date in projects underway in the governorate.
IDSC Signs Mou With Microsoft
8/23/2023 - The Cabinet's Information and Decision Support Center has signed a memorandum of understanding with Microsoft Corporation as part of the Center's efforts to set a roadmap for digital transformation.
CAPMAS: Egypt Ranked 109th Globally In E-Commerce Readiness
8/23/2023 - Central Agency for Public Mobilization and Statistics (CAPMAS) issued study on " trends of E-commerce in Egypt during the period (2011-2021)", The main indicators are as following:

• China,...
Maait Unveils Reasons Regarding Egypt’s Request to Join BRICS
8/23/2023 - Minister of Finance Mohamed Maait revealed the reasons why Egypt is requesting to join BRICS economic grouping, which includes Brazil, Russia, India, China, and South Africa.

Maait stated t...

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