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Financials and Investment News in Egypt

Dollar Exchange Rate Stable at Start of Transactions
1/17/2024 - 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...
Cabinet Approves Re-Forming Supreme Council for Ports
1/17/2024 - During its meeting the cabinet led by Prime Minister Mostafa Madbouli, approved a draft resolution on re-forming and re-organizing the Supreme Council for Ports.

The council is composed of ...
Irrigation Minister Calls for Upgrading Procedures of National Water Resources Plan
1/17/2024 - Minister of Water Resources and Irrigation Hani Sewilam issued his directives to his ministry's officials to update procedures of the National Water Resources Plan to incorporate the goals of Egypt’s ...
Finance Minister: We Are Keen on Benefitting from Experience of Int'l Health Experts
1/17/2024 - Minister of Finance and head of the Universal Health Insurance Authority Mohamed Maait expressed keenness on benefitting from the experience of international experts specialized in comprehensive healt...
Planning Min Underlines Importance of Location Data Infrastructure
1/17/2024 - The establishment of spatial information infrastructure is an important tool for developing comprehensive planning and making sustainable development strategies, Planning and Economic Development Mini...
Egypt Budget Deficit Records 5% of GDP in H1 2023/24
1/17/2024 - Egypt’s budget deficit recorded 4.95 percent of GDP during the first half (H1) of FY 2023/2024, July-December 2023, said Minister of Finance Mohamed Maait.

Over H1 of FY2022/23 (July-Decemb...
Alshaya Group Closes Down Debenhams, Mothercare, The Body Shop in Egypt
1/17/2024 - The Kuwaiti Alshaya Group, a key regional operator overseeing renowned brands such as American Eagle, H&M, and Victoria’s Secret, decided to scale down operations in Egypt, closing some stores in resp...
Egypt Holds First Public Discussion on Economic Strategy for 2024-2030
1/17/2024 - The cabinet’s Information and Decision Support Centre (IDSC) launched the first national dialogue session on the eight-direction document of Egypt's economic strategy for 2024-2030.

The ses...
Wto Head 'Less Optimistic' for World Trade Due to Red Sea Strikes
1/17/2024 - The World Trade Organization's chief Ngozi Okonjo-Iweala said she was "less optimistic" about world trade in 2024, pointing to tensions in the Red Sea.

The head of the international trade b...
Egypt's agriculture exports increase by $239.2M during 2023: CAPMAS
1/18/2024 - Egypt's agriculture exports achieved an increase of $239.2 million during the period from January to October 2023, according to data released by the Central Agency for Public Mobilization and Statisti...
Egypt Releases Strategic Economic Plan (2024-2030) for National Dialogue
1/20/2024 - Prime Minister Mostafa Madbouly has ordered the release of a new economic plan for the country's next six years.

The plan, which is titled "The Most Important Strategic Directions for the E...
PM Inspects Electricity Distribution Panel at "Fares" Village in Kom Ombo
1/20/2024 - Prime Minister Moustafa Madbouli inspected a project of electricity distribution panel at “Fares” Village as part of “Decent Life” projects in Kom Ombo.

This came as part of Madbouli visit ...
PM Inspects Alternative Axis for Aswan Reservoir Project
1/20/2024 - Prime Minister Moustafa Madbouli inspected Alternative Axis for Aswan Reservoir during his visit to the Upper Egypt governorate of Aswan to inspect a number developmental and service projects.

...
PM Inspects Egypt Creativity Digital Center in Aswan
1/20/2024 - Prime Minister Mostafa Madbouli commended the active role of Egypt Creativity Digital Center (Creativa) in Aswan governorate.

The Creativa Innovation Hub is setting the stage for promoting ...
Minister: Efforts Underway to Expand Aircraft, Ship Catering Services at Egyptian Ports
1/20/2024 - Minister of Petroleum and Mineral Resources Tarek el Molla has directed officials of the Misr Petroleum and Cooperation Petroleum companies to proceed with development works to keep pace with modernit...
Dollar Exchange Rate Stable at Start of Sunday's Transactions
1/21/2024 - The dollar exchange rate was stable at the start of transactions, January 21st, at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP 3...
Egypt's Exports to Somalia Surge By 27.7% in 2023: CAPMAS
1/21/2024 - The value of Egypt's exports to Somalia marked a growth of 27.7 percent during the period from January to November 2023, to reach $54 million, compared to $42.3 million during the same period of 2022,...
Finance: Treasury Supports Employees in Governorates’ Private Funds
1/21/2024 - Egyptian Minister of Finance Mohamed Maeet said the State’s public treasury bore LE2.2 bn in support of salaries of workers in the governorates’ private funds covering nine months within the period st...
Egypt's NBE Generates EGP 2 Billion in Exit Deals in 2023
1/21/2024 - The National Bank of Egypt (NBE), Egypt's largest state-owned bank, has amassed around EGP 2.1 billion through the execution of five exit deals across various economic sectors in 2023, Ahmed El-Said, ...
Egypt Bourse Gains EGP 18 Billion
1/22/2024 - Egyptian Exchange (EGX) indexes posted collective gains at the close of Monday's trading session, backed by purchases by Arab and foreign institutions and investment funds, against sales by local inst...

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