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Financials and Investment News in Egypt

Egypt to Receive Rehabilitated Iconic Tahrir Complex Building in 2024: NOUH Board Member
6/11/2024 - The repurposing project of the iconic Tahrir Complex building (or Mogamma El-Tahrir) in Down Town is anticipated to conclude in 2024 after 31 months of work, according to Board Member of the National ...
Egypt Merchandise Exports Up By 9.8% in First 5 Months of 2024
6/18/2024 - Egypt’s non-oil exports from January to May 2024 reached $16.5 billion, up from $15.4 billion in the same period of 2023, marking a 9.8 percent increase, Minister of Trade and Industry Ahmed Samir sta...
Egyptian Exports to U.S. Grow By 34.5% in Q1 of 2024
6/18/2024 - The Central Agency for Public Mobilization and Statistics released a report Monday indicating that Egyptian exports to the United States grew by 34.5 percent in the first quarter of 2024, recording $5...
E-Payment, Collection Services in Egypt Rise io EGP 2,5 Tln in 1st 11 Months of FY23/24
6/23/2024 - The value of e-payment and collection services in Egypt grew by 19 percent to EGP 2.5 trillion during the first 11 months of the current FY2023/2024, which ends on 30 June, up from EGP 2.1 trillion du...
PM commends strategic relations between Egypt, France
6/24/2024 - Prime Minister Mostafa Madbouli commended the historical and strategic relations between Egypt and France in different political, economic and cultural fields.

Madbouli made the remarks dur...
PM Follows Up on Recent Developments of Price Reduction Initiative
6/24/2024 - Egypt's commercial chains have seen a series of price reductions since the initiation of the price reduction initiative.

The Cabinet's statement reveals that these reductions have varied be...
World Bank Announces $700 Mln Development Financing for Egypt
6/24/2024 - The World Bank (WB) has announced $700 million in Development Policy Financing (DPF) for Egypt to support the country’s shift towards more private sector participation, better macroeconomic and fiscal...
European Stocks Rise, Nvidia Drags Down Nasdaq
6/24/2024 - European stock markets rebounded despite jitters over the first round of French elections taking place this weekend.

However shares in Nvidia fell by more than six percent as the AI darling...
Egypt Mobilizes $2 Bln in Budget Support from Ifis And Partners to Support Structural Reforms
6/24/2024 - Egypt has mobilized $2 billion in financings over the past few months, following negotiations with International Financial Institutions (IFIs) and multilateral and bilateral development partners, Mini...
Foreign Exchange Stability in Egypt Hinges on Continued US Dollar Inflows Into The Market: Experts
6/24/2024 - The Egyptian pound's performance against the US dollar has fluctuated since the last depreciation of the local currency by the Central Bank of Egypt (CBE) on 6 March in line with its commitments to a ...
Egyptair Among Skytrax's Top 100 Companies
6/25/2024 - EgyptAir claimed 88th position from the ranking of the top 100 companies in the world within the classification of "Skytrax Global Airlines".

EgyptAir also obtained the first position in Af...
PM: Dlrs 1 Bn Needed for Confronting Power Crisis
6/25/2024 - Prime Minister Moustafa Madbouli said dlrs 1 billion is needed for overcoming the power cut crisis in Egypt this summer.

He said the government has drawn up a plan for confronting the unpre...
Egypt's Sovereign Sub-Fund for Education to Establish An Investment Company
6/25/2024 - Minister of Planning and Economic Development, Hala El-Said, has revealed that Egypt's sovereign sub-fund for education is set to establish an investment and management company in the education sector...
GAFI Hosts Egyptian-British Business Forum for Investment in Infrastructure
6/25/2024 - The General Authority for Investment and Free Zones (GAFI) hosted the Egyptian-British Business Forum for Investment in Infrastructure that was attended by 30 British firms as well as major Egyptian ...
Japan's SARAYA to Inaugurate 3 Factories at Egypt's Sczone
6/25/2024 - Japan's SARAYA for sanitation and health products will inaugurate an industrial complex, comprising four factories worth $12 million, at the Suez Canal Economic Zone (SCzone) and whose production will...
Egyptian Gov't Revises Egypt-EU Investment Conference Preparations
6/25/2024 - The Egyptian government revised on Monday the latest preparations for the Egypt-EU Investment Conference set to be held in Cairo, inaugurated by President Abdel-Fattah El-Sisi and the European Commiss...
Smes Acquire Lion Share of Private Sector in Egypt
7/2/2024 - Small and medium-sized enterprises (SMEs) acquire 98 percent of the private sector landscape in Egypt, employing over 47 million of the country’s population who are eligible to work.

These ...
Egypt's New Finance Minister Pledges Strong Support for Private Sector Growth
7/3/2024 - Egypt's newly appointed Minister of Finance, Ahmed Kouchouk, outlined a comprehensive vision aimed at bolstering economic stability and fostering a resilient economic future in a statement following t...
EGX Gains EGP 20 Bn at Beginning of Trading on Back of Govt Reshuffle
7/3/2024 - The Egyptian Exchange (EGX) gained about 20 billion pounds at the beginning of trading amid optimism among investors about the new government reshuffle.

The EGX 30 benchmark index was up by...
Ecfa Chairman: Egyptian-Chinese Partnership Example to Follow Globally
7/3/2024 - Chairman of the Egyptian Council for Foreign Affairs (ECFA) Mohamed el Orabi said that the strategic partnership between Egypt and China sets an example to follow globally in the different economic, i...

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