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Financials and Investment News in Egypt

French Multinational Schneider Electric Eyes Investment Expansion in Egypt
10/29/2023 - French Schneider Electric company plans to expand in the Egyptian market, having injected a total investment amounting to 300 million euros ($317.38 million) in Egypt over the past 35 years, according...
Egypt Plans to Create 800,000 Jobs in FY2023/2024
10/30/2023 - The Egyptian government is planning to create around 800,000 new jobs during the fiscal year, according to a report by the Ministry of Planning and Economic Development.

The new jobs will b...
Sixth Cairo Water Week Opens With Focus on Sustainability, Innovation
10/30/2023 - The sixth edition of Cairo Water Week kicked off on Sunday under the theme "Action on Adaptation in the Water Sector for Sustainability," under the auspices of President Abdel-Fattah El-Sisi.

...
Real Estate Exchange A Potential Game Changer for Egyptian Property Market: Experts
10/30/2023 - The Egyptian Exchange (EGX) is preparing to launch a real estate exchange within four months, which will boost the local market, encouraging small investors in the sector and offering a new financing ...
Egypt's Approval of Property Ownership by Foreigners Boosts Real Estate Sector: Report
10/30/2023 - Egypt's efforts to open up residential property ownership to foreign individuals have yielded success in the third quarter of 2023 (3Q 2023).

A report by JLL MENA, a prominent property cons...
Egypt, Venezuela Probe Promoting Co-Operation in Oil, Petrochemical Sectors
11/7/2023 - Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla, discussed with Venezuela Foreign Minister Yvan Gil Pinto, and his accompanying delegation, prospective cooperation between the two ...
Egypt to Launch 1st Electronic Auction for Gold And Silver Next Week
11/7/2023 - The Assay and Weights Administration (AWA) of Egypt is planning to hold its first electronic auction for gold and silver, scheduled to take place next week.

According to a statement the auc...
Transportation Minister: No Going Back from Localizing Industries in Egypt
11/7/2023 - Minister of Transport Lieutenant General Engineer Kamel Al-Wazir that the Suez Canal Economic Zone hosts the first real factory for railway industries in partnership with the private sector and the So...
Suez Canal Authority to Set Up Joint-Stock Company for Modern Boats
11/8/2023 - The cabinet, under Prime Minister Mostafa Madbouli, has approved a draft decree on granting a license to the Suez Canal Authority to participate in establishing a joint-stock company called the "Suez ...
Egypt Extends Grace Period for Unlawful Foreign Residents
11/8/2023 - The Egyptian government has extended the grace period for foreigners residing unlawfully in Egypt to adjust their status by three months, a Cabinet statement read .

Based on the recent deci...
Egypt Forecasts LE70B in Revenues from IPO Program By End of Fiscal Year
11/8/2023 - Egypt is projecting revenues of up to LE 70 billion from the government’s initial public offering (IPO) program, equivalent to 0.6 percent of the gross domestic product (GDP), in the current fiscal ye...
PM Reviews Efforts of Gov Complaint System to Meet Citizens Needs in Oct
11/8/2023 - Egypt’s Prime Minister Moustafa Madbouli asserted the necessity of exerting strenuous efforts to examine all citizens’ complaints, with a view to meeting citizens’ needs and removing all obstacles bes...
Transport Min, Witnesses Signing Agreements on Sidelines of Transmea2023 Exhibition
11/8/2023 - Minister of Transport Kamel el-Wazir witnesses the signing of a number of agreements and Memorandum of Understanding (MoU) during the 5th edition of the Smart Transport, Logistics, Infrastructure and ...
Planning Minister, Standard Chartered Bank Team Meet to Discuss Enhancing Co-Operation
11/8/2023 - Hala El-Said , Minister of Planning and Economic Development, held a meeting with the Standard Chartered Bank [British multinational bank]team, which obtained a new license to operate in the Egyptian ...
Maait: Tapping New Vistas to Boost Trade Ties Between Egypt, Turkey
11/8/2023 - Finance Minister Mohamed Maait underscored the importance of tapping new vistas of boosting trade relations with Turkey, which is considered the sixth largest destination of Egyptian exports, estimate...
Trade Minister, German-Arab Chamber of Industry Examine Future Coop Opportunities
11/8/2023 - Minister of Trade and Industry, Ahmed Samir, met with Jan Noether, CEO of the German-Arab Chamber of Industry and Commerce (AHK) to examine opportunities to enhance economic cooperation between Egypt ...
Egypt Approves Building New Private Free Zone in Ain Sokhna
11/8/2023 - Egypt has approved the construction of a new private free zone in Ain Sokhna to produce feldspar and silica-free bio-quartz and lapitec panels, which have diverse industrial and decorative uses.
Egypt Eyes Extra EGP 70 Billion From Privatization in FY2023/2024
11/8/2023 - Egypt seeks to collect additional revenue of EGP 70 billion ($2.27 billion) from its privatization programme during the fiscal year (FY) 2023/2024, according to a recent book released by the Cabinet’s...
Egypt Extends Zero-Custom Gold Import Initiative By Another 6 Months
11/8/2023 - The Egyptian Cabinet approved meeting extending the zero-custom initiative for gold imports by Egyptians abroad for six months ending on 10 May, according to a statement.

The Cabinet attrib...
Escalation of War in Gaza to Increase Food Insecurity, Inflation in Middle East: World Bank
11/8/2023 - Egypt's Supreme Council for Vehicle Manufacturing is set to sign four partnership agreements with various companies, within a few days to manufacture automobiles in the country, according to a Cabinet...

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