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Financials and Investment News in Egypt

President El-Sisi Directs to Increase Expenses on Improving Conditions of Citizens in New Budget
1/9/2024 - Egyptian Finance Minister Mohamed Maeet has asserted that President Abdel Fattah El Sisi gave directives to increase the expenditure on improving the living conditions of citizens and sustainable work...
Egypt To Start Documenting Numbers Of Refugees And Immigrants
1/9/2024 - Egyptian Prime Minister Mostafa Madbouly asserted the importance of documenting the number of refugees and immigrants in the country, whose number is estimated at 8-9 million from 133 countries.
Egyptian Economic And Financial Delegation in Washington for IMF Talks: What Do We Know So Far?
1/9/2024 - A high-level delegation from the Egyptian government has arrived in Washington DC to push forward Egypt's almost standstill loan programme with the International Monetary Fund (IMF), in addition to ex...
World Bank Slightly Downgrades Egypt’s Growth Forecast for 2024
1/9/2024 - The World Bank downgraded its forecasts for Egypt’s real GDP growth for 2024 to 3.5 percent from 3.7 percent in a previous estimate, according to the Global Economic Prospects report released .
Pakistan Seeks Tenfold Trade Increase With Egypt: Minister
1/9/2024 - Pakistan seeks to increase trade exchange with Egypt by tenfold in the coming few years, said Gohar Ejaz, Pakistani Federal Minister for Industries and Commerce.

Ejaz made his remarks on th...
Egypt's GAFI, Maxim Group to Establish $1.5 Billion Health Resort
1/9/2024 - The Egyptian General Authority for Investment and Free Zones (GAFI) signed a contract with Maxim Investment Group (MIG) to establish the country's first medical and health resort, with $1.5 billion in...
Central Bank of Egypt Auctions EGP 130 Bln T-Bills
1/9/2024 - The Central Bank of Egypt (CBE) auctioned EGP 130 billion treasury bills (T-bills) with four maturities between April 2024 and January 2025.

The new T-bills will be issued next Tuesday afte...
Egypt, Saudi Arabia Sign Mou for Mineral Exploration
1/10/2024 - The Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla signed a memorandum of understanding (MoU) with the Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef for techn...
Egypt's Qalaa Holdings to Establish 2 Railway Lines in Eastern Africa
1/10/2024 - Minister of Transport Kamel al-Wazir stated in a meeting with the Rwandan ambassador that Qalaa Holdings would implement a railway line between Tanzania's Dar Al-Salaam Port and Burundi, passing throu...
PM Directs Officials to Start Projects for Upgrading View of Gameat al Dowal al Arabiya Axis
1/10/2024 - Prime Minister Moustafa Madbouli directed the officials to start implementing a project for upgrading the view of Gameat Al Dowal Al Arabiya axis which is an important axis.

He made the rem...
Pm Attends Inking of Wind Energy Project Worth $1.5bn
1/10/2024 - Prime Minister Moustafa Madbouli attended the inking of a usufruct agreement between the New and Renewable Energy Authority (NREA) and a consortium led by ACWA Power to produce 1.1 GW of wind energy f...
Irrigation Min: 37,000 Km of Agricultural Drainage Network Cleared Annually
1/10/2024 - Minister of Irrigation and Water Resources Hani Sewilam said the agricultural drainage network that extends to up to 22,000 km is cleared twice a year.

This came as the minister received a ...
Egypt's Annual Headline Inflation Eases to 35.2% in December: CAPMAS
1/10/2024 - Egypt's annual headline inflation decelerated to 35.2 percent in December, down from 36.4 percent in November, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported .

...
INTERVIEW- Egypt’s Securitization of FX Revenu: Risks And Prospects
1/10/2024 - Egypt’s securitization of FX revenue will not affect assets, says Sherif Samy, former chair of Financial Regulatory Authority.

Egypt is studying securitizing up to 25 percent of its USD rev...
World Bank Mission Visits Egypt to Discuss State Ownership Policy And Financing
1/10/2024 - A mission from the World Bank (WB) arrived in Egypt on Tuesday for a multi-day visit to discuss the development of the country's State Ownership Policy Document and how best to manage these assets, ac...
Bid For Closer Trade Ties With Bahrain
1/10/2024 - Egypt’s Trade and Industry Minister Ahmed Samir and his Bahraini counterpart, Abdulla bin Adel Fakhro met for economic co-operation talks.

The talks were on the sidelines of the 4th Higher ...
Madbouli: State Pays Attention to Developing Sczone to Attract Foreign Investments
1/11/2024 - Prime Minister Mostafa Madbouli said his visit to the Suez Canal Economic Zone (SCZone) comes within the framework of the keenness of the state on development of the SCZone and providing different pot...
Dollar Prices Stable at Start of Thursday's Transactions
1/11/2024 - The dollar exchange rate was stable at the start of transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP 30.75 for buying...
Minister: Egyptian Government to Introduce Improved Social Protection Package
1/13/2024 - The Egyptian government is preparing to introduce a social protection package that encompasses various improvements, including wage and pension adjustments and an increase in the tax exemption thresho...
Etta, Mcci Sign Cooperation Mou to Boost All Joint Activities
1/13/2024 - The Egyptian Travel Agents Association (ETTA) signed a memorandum of understanding with the Makkah Chamber of Commerce & Industry (MCCI) to activate bilateral cooperation in several fields and tourism...

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