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Financials and Investment News in Egypt

Egypt-Italy Agrees to Explore A 4th Phase of Intercountry Debt Swap Program
5/26/2024 - The Ministry of International Cooperation (MoIC) revealed that, during a meeting between Minister Rania Al Mashat and the Italian Ambassador to Cairo, Michele Quaroni, the two countries have agreed to...
Egypt, Iraq Discuss Cooperation in Drug Export, Registration
5/26/2024 - Health and Population Minister Khaled Abdel Ghaffar discussed, with his Iraqi counterpart Saleh Mehdi Al Hasnawi ways of boosting cooperation in drug export and registration.

Abdel Ghaffar ...
SCEZONE Inks Usufruct Contract With Turkish Company Worth $40 Mln
5/28/2024 - The Suez Canal Economic Zone (SCEZONE) announced inking a land usufruct contract of 65,000-square-meter area with the Turkish company of Eroglu Egypt for ready-made clothes at investments worth $40 mi...
Electricity Ministry tO OPEN 252 Mw Gulf oF Suez WIND POWER PLANT
5/28/2024 - Minister of Electricity and Renewable Energy Mohamed Shaker will attend the inauguration of the 252 MW Gulf of Suez wind power plant project in in Red Sea governorate, under the auspices of Prime Mini...
ECA Announces Implementation of Ex-Ante Merger Control System Starting from June 2024
5/28/2024 - The Egyptian Competition Authority (ECA) has announced the implementation of an ex-ante merger control system starting from June 2024.

This was revealed by the Chairman of the ECA, Mahmoud...
Dollar Exchange Rate Stable
5/28/2024 - The dollar exchange rate was stable at the start of transactions at Egypt's major banks.

At the National Bank of Egypt (NBE), Banque Misr and the Commercial International Bank (CIB), the do...
Volume of Trade Exchange Bet. Egypt, Malaysia Reaches $777M in 2023
5/28/2024 - The trade exchange between Egypt and Malaysia amounted to approximately $777 million in 2023, according to a statement released by Egypt's Ministry of Trade and Industry.

The main commodi...
FRA to Build Fintech Companies for SME Financing, Digital Services
5/28/2024 - The Financial Regulatory Authority (FRA) has approved the establishment of Flind Company, a start-up using financial technology, to provide financing for small and medium-sized enterprises.

...
SCEZONE Inks Usufruct Contract With Turkish Company Worth $40 Mln
5/28/2024 - The Suez Canal Economic Zone (SCEZONE) announced inking a land usufruct contract of 65,000-square-meter area with the Turkish company of Eroglu Egypt for ready-made clothes at investments worth $40 mi...
No Tax Hikes, Including on Income, Commercial & Industrial Profits: Finance Minister
5/28/2024 - Egypt’s Minister of Finance Mohamed Maait said on that there will be no increase in income tax rates or brackets, including the commercial and industrial profits tax.

In reply to circulatin...
Int'l Cooperation Min. Asserts Egypt's Keenness on Promoting Ties With Azerbaijan
5/28/2024 - Minister of International Cooperation Rania el Mashat asserted Egypt’s keenness on developing ties with Azerbaijan, adding that this was clear in several situations and meetings in the past years topp...
CBE Governor Leads Egypt's Delegation to Annual Meetings of Afdb
5/29/2024 - Governor of the Central Bank of Egypt (CBE) and Egypt's Governor to the African Development Bank (AfDB) Group Hassan Abdullah led Egypt's delegation to the 59th Annual Meeting of the AfDB Board of Gov...
Cabinet Convenes Weekly Meeting to Probe Important Files
5/29/2024 - Meeting under Prime Minister Moustafa Madbouli the Cabinet started its weekly session to probe a number of political, economic and social files.

Today’s meeting will focus on agricultural, ...
2nd Edition of GITEX AFRICA Kicks Off in Morocco With Egyptian Participation
5/29/2024 - The second edition of the three-day GITEX AFRICA Morocco 2024 event kicked off in Marrakech under the auspices of King Mohammed VI of Morocco.

GITEX AFRICA, which is rated as the biggest t...
Madbouli Asserts Facilitating Measures to Promote Pharmaceutical Exports
5/30/2024 - Prime Minister Moustafa Madbouli asserted facilitating any measures needed to promote the volume of exports to foreign markets especially pharmaceutical exports.

This came during Madbouli’...
Egypt Calls on WTO to Adopt Development Issues in Developing Countries
6/1/2024 - Egypt’s Commercial Office in Geneva has called on the World Trade Organization (WTO) to adopt industrial development policies and comprehensive development issues in developing countries, particularly...
Minister: System of Allocating Land Plots for Those Paying in US Dollar to Be Suspended As of June
6/1/2024 - Housing and Urban Communities Minister Assem el Gazar announced that the New Urban Communities Authority (NUCA) will suspend the system of land allocation for those paying in the US dollar from abroad...
CPA: Application of 'Price Radar' Helps Control Markets
6/1/2024 - Spokesman for the Consumer Protection Agency (CPA) Islam el Gazzar asserted the application of "Price Radar" is mainly helping control prices of different goods in markets and boost the competitive ed...
FEDCOC: IT Sector Witnessed Unprecedented Leap in Sisi Era
6/1/2024 - First Deputy Chairman of the Federation of Egyptian Chambers of Commerce (FEDCOC) Hany Mahmoud lauded the level of progress in the sector of communications and IT in Egypt, asserting that the sector w...
Minister: Nasser Social Bank Succeeds to Increase Wallet of Retail Banking Finance to EGP 50bln
6/1/2024 - Minister of Social Solidarity and Board Chairman of Nasser Social Bank Nivine el Kabbag said that the bank succeeded in increasing the wallet of the retail banking finance to EGP 50 billion in the for...

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