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Financials and Investment News in Egypt

Egypt’s Military Production Ministry, Saudi Arabia's GAMI Sign Mou on Strategic Partnership
12/4/2023 - A memorandum of understanding (MoU) was signed on Monday between the Egyptian Ministry for Military Production and the Saudi General Authority for Defense Industries to set up a partnership.

...
Trade Minister Participates in COMCEC’s Meetings in Istanbul
12/4/2023 - Minister of Trade and Industry Ahmed Samir has participated in the 39th ministerial session of the Standing Committee for Economic and Commercial Co-operation of the Organization of the Islamic Cooper...
Global Giant Mastercard, Egypt’s MDP Sign Strategic Alliance to Enhance E-Payments
12/4/2023 - Global payment technology company MasterCard has entered into a strategic alliance agreement with the Egyptian digital payment company MDP to enhance the payments ecosystem for banks and non-financial...
Egypt’s Tax Revenues Jump Around 35% in Q1 of Current FY2023/24
12/4/2023 - Egypt’s tax revenue jumped 34.83 percent on an annual basis during the first three months of the new fiscal year (FY) 2023/2024, according to data released by the Ministry of Finance .

The ...
Egypt Lowers GDP Growth Projection for FY 2023/24 to 3.5%: Planning Minister
12/4/2023 - Egypt has revised down its growth projection for FY 2023/2024 to 3.5 percent, Hala El-Said, minister of planning and economic development, said on Monday.

The figure is 0.7 percent lower th...
120% Surge in Loan Services Payment Push Egypt’s Budget Deficit Higher
12/4/2023 - Egypt’s budget deficit rose to 3.85 percent of GDP during the first quarter (July-September) of FY 2023/2024, up from 2.05 percent in the corresponding quarter in FY 2022/ 2023.

The surge i...
President Sisi Announces New Formation of Sovereign Fund’s General Assembly
12/4/2023 - President Abdel-Fattah El-Sisi issued a new regulation on Monday, signaling the reconstitution of the General Assembly of the Sovereign Fund of Egypt (TSFE) under the chairmanship of Prime Minister Mo...
Navigation in Suez Canal Not Affected By Container Ship Breakdown
12/6/2023 - Suez Canal Authority Chairman Osama Rabie asserted that navigation at the Suez Canal was not affected by the breakdown of the container ship “ONE ORPHEUS”.

In a statement Rabie said that fo...
PM Chairs Meeting With Private Sector
12/6/2023 - Prime Minister Mostafa Madbouli chaired a meeting of the Supreme Committee for cooperation with the private sector.

The meeting began in noting the great importance of the committee partici...
Military Production Min: We Are Keen on Boosting Cooperation With Russian Companies
12/6/2023 - State Minister for Military Production Mohamed Salah Eldin Moustafa asserted his ministry's keenness on promoting cooperation with Russian companies.

This came during his meeting on Russia'...
CAPMAS: Egypt‘S Exports to Cyprus Jumps to $70.5 Mln
12/6/2023 - The Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that the value of Egyptian exports to Cyprus increased to $70.5 million during the first nine months of 2023, compared to $5...
Egypt’s Revenues Rise Steadily in Recent Years: Infographic
12/6/2023 - The Egyptian government’s revenues surged 29.5 percent year-on-year to EGP 335.13 billion ($10.83 billion) during the first three months of the fiscal year (FY) 2023/2024, according to data released b...
AUC Business School Dean Appointed on CBE Board of Directors
12/6/2023 - The American University in Cairo (AUC) announced that Sherif Kamel, dean of the School of Business Administration, has joined the Board of Directors of the Central Bank of Egypt (CBE) as a financial e...
Higher Debt Service Bill to Widen Egypt’s Budget Deficit in FY2023/2024: Report
12/6/2023 - Egypt’s budget deficit will increase by one percent in the fiscal year (FY) 2023/2024 to account for 7.1 percent of GDP, up from 6.1 percent in FY2022/2023, due to the increase in debt service payment...
Fewer Exports Widen Egypt’s Trade Deficit By 10.3% in September
12/6/2023 - Egypt’s trade deficit increased by 10.3 percent to reach $3.24 billion in September compared to $2.84 billion in the same month last year, according to the data released by the Central Agency for Publ...
Cabinet Weekly Meeting Reviews Important Files
12/7/2023 - The Egyptian Cabinet held its weekly meeting – under Prime Minister Moustafa Madbouli to discuss an array of political, economic and social files.

The latest developments in the internation...
Emirati Energy Giant Mubadala Seeks to Expand in Egypt
12/9/2023 - The Emirati energy company Mubadala is seeking to inject new investments in Egypt, CEO Mansoor Al-Hamed stated during a meeting with Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla...
Housing Minister Chairs Meeting for NUCA
12/9/2023 - The New Urban Communities Authority (NUCA)'s Board of Directors approved during its meeting under the chairmanship of Housing Minister Essam el Gazzar to provide facilities to companies, investors, an...
Wazir Discusses With Hungarian Company Supply of 1,350 Coaches to ENRA
12/9/2023 - Minister of Transport Kamel El Wazir discussed with Shaba Toro, Chairman of the Hungarian Ganz Ma-Vag Company, the schedule of delivering 1,350 coaches to the Egyptian National Railways Authority (ENR...
Finance Minister: President Sisi Adopts Biggest Project to Improve Healthcare Service Provision
12/9/2023 - President Abdel Fattah El Sisi is adopting the implementation of the biggest project to improve the healthcare service provision in Egypt through implementing the comprehensive health insurance system...

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