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Financials and Investment News in Egypt

Egypt to Issue Bonds on Hong Kong Stock Exchange: Finance Minister
1/28/2024 - Egypt is poised to issue bonds denominated in the local currency (Hong Kong dollar) on the Hong Kong Stock Exchange, Minister of Finance Mohamed Maait said on Saturday.

In addition to the b...
Gov't Denies Issuing Decision to Cancel Anti-Dumping Duties on Rebar Imports
1/29/2024 - The Cabinet's media center denied news about issuing a decision to cancel the anti-dumping duties on rebar imports.

In a statement the media center said it contacted the Ministry of Trade a...
Maeet : Expats’ Tax-Free Car Imports Extended 3 Months
1/29/2024 - Egyptian Finance Minister Mohamed Maeet said that the government would extend tax-free car imports for more Egyptian expats to benefit from the initiative.

Three extra months will be given ...
Central Bank of Egypt to Issue EGP 130 Bln T-Bills
1/29/2024 - The Central Bank of Egypt (CBE) is set to issue EGP 130 billion treasury bills (T-bills) with four different maturities between April 2024 and January 2025.

Last week, the bank auctioned EG...
National Dialogue's 2nd Phase to Begin With Economy Issues
1/29/2024 - The Board of Trustees of the National Dialogue has decided to launch its second phase, General Coordinator, and the Chairman of the State Information Service, Diaa Rashwan announced in a statement.
Egypt To Issue Bonds on Hong Kong Stock Exchange
1/29/2024 - Egypt is poised to issue bonds denominated in the local currency (Hong Kong dollar) on the Hong Kong Stock Exchange, Minister of Finance Mohamed Maait said.

In addition to the bond issuance...
Egypt’s Food Exports Rose 14% in 2023
1/29/2024 - Egypt’s food exports increased by 14 percent (about $602 million), reaching all-time high of $5.1 billion in 2023, up from $4.5 billion in a year prior, according to data released by the Food Expert C...
Egypt Considers Issuing UAE Dirham-Denominated Bonds: Finance Minister
1/29/2024 - Egypt is poised to issue bonds denominated in the UAE dirham, aiming to tap into Gulf markets for the first time, Minister of Finance Mohamed Maait revealed.

Maait explained that the govern...
Transport Min., JICA Official Discuss Existing, Future Projects
1/30/2024 - Transport Minister Kamel el Wazir discussed with Executive Senior Vice President of Japan International Cooperation Agency (JICA) Junichi Yamada progress made so far in implementing joint projects and...
PM Asserts Importance of Localizing Technology of Electronic Chips Manufacturing in Egypt
1/30/2024 - Prime Minister Moustafa Madbouli asserted the importance of encouraging investments in the field of localizing technology of manufacturing electronic chips due to its importance in several pivotal ind...
Standard Chartered Bank Launches Operations Officially in Egypt
1/30/2024 - The UK-based multinational Standard Chartered Bank has officially commenced its banking operations in Egypt, following the receipt of final approval from the Central Bank of Egypt (CBE), according to ...
Egypt’s Real GDP Growth to Recover in FY2024/25 Through IMF’s Financing, Policy Package
1/30/2024 - Egypt’s real GDP growth is expected to recover, reaching 4.7 percent, in the upcoming fiscal year (FY) 2024/2025, backed by the financing and policy package set by the International Monetary Fund (IMF...
Banque Misr Introduces New USD Debit Card Allowing Purchases Up to $20,000
1/30/2024 - Egypt's state-owned Banque Misr (BM) has issued a new debit card exclusively for US dollar accounts, named Visa Platinum, enabling account holders to make purchases inside or outside of Egypt with a m...
IMF Lowers Projections for Egypt’s Real GDP Growth in FY2023/2024 to 3%
1/30/2024 - The International Monetary Fund (IMF) has downgraded its forecasts for Egypt’s real GDP growth in the current FY2023/2024 to three percent, down from the 3.6 percent it projected in October, according...
PM Meets Delegation of Japan's Yazaki Company
1/31/2024 - Prime Minister Mostafa Madbouli has said the government is paying a greater attention to the role of the private sector in its development action plans.

He added the factory of Yazaki, a Ja...
Communication Min Heads to Hungary to Enhance Cooperation in IT Fields
1/31/2024 - Minister of Communications and Information Technology Amr Talaat headed to the Hungarian capital Budapest, on a two-day visit.

During the visit, the minister will hold meetings with governm...
Egypt Greatly Contributes to Africa's Development Efforts: El Mashat
1/31/2024 - Minister of International Cooperation Rania el Mashat has said Egypt greatly contributes to efforts aimed at achieving development in Africa either at the bilateral level or through its presidency of ...
Egypt Reduces Public Investments for FY2023/24 By 15 Percent
1/31/2024 - The Egyptian Cabinet approved a plan to reduce the state budget public investment plan for the fiscal year (FY)2023/2024 by 15 percent, according to a statement.

The Cabinet also decided to...
USD/EGP Forward Contracts Reach All-Time High at EGP 63
1/31/2024 - he 12-month non-deliverable forward contracts for the Egyptian pound against the US dollar surged to an all-time high of EGP 63, with short-term contracts also following this upward trend, according t...
Private Sector Could Catapult Egypt’s Real GDP Growth to 5-6%: IMF’s Azour
1/31/2024 - Jihad Azour, director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), told Ahram Online that Egypt's GDP growth rate could increase by 5-6 percent if the gover...

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