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Financials and Investment News in Egypt

Romanian Amb: Investment Conf. Succeeds in Luring Eu Companies to Invest in Egypt
7/3/2024 - Romanian Ambassador in Cairo Olivia Toderean asserted that the 2024 Egypt-EU Investment Conference succeeded in attracting hundreds of European companies which are searching for new chances in Egyptia...
Cbe Governor Signs We-Fi Code to Support Female Entrepreneurs
7/3/2024 - Governor of the Central Bank of Egypt (CBE) Hassan Abdalla signed the code of the Women Entrepreneurs Finance Initiative (We-Fi) with the European Bank for Reconstruction and Development (EBRD).
CBE: Bank Finance Portfolios for Msmes Grew By 362% in 6 Years
7/6/2024 - The Central Bank of Egypt (CBE) announced that banks' finance portfolios for micro, small, and medium-sized enterprises (MSMEs) grew by 362% in six years (December 2015 to December 2023).

I...
Irrigation Minister Lauds Fruitful Cooperation With UNDP
7/6/2024 - Irrigation and Water Resources Minister Hani Sewilam has praised current good cooperation between the ministry and the United Nations Development Program (UNDP).

The minister’s remarks came...
CBE: International Reserves Up By $258M With Foreign Currency Reserves at $36.8B
7/7/2024 - The Central Bank of Egypt (CBE) revealed that Egypt’s net international reserves (NIRs) rose to around $46.383 billion at the end of June, an increase of $258 million compared to May’s $46.126 billion...
PM Underscores Imp. Role of Investment Ministry in Current Stage
7/7/2024 - Prime Minister Moustafa Madbouli has stressed the importance of the role played by the Investment and Foreign Trade Ministry in attracting more foreign direct investments (FDIs) and encouraging the pr...
President El-Sisi Issued Directives to Increase Progress Rate in “New Alamein” Projects
7/7/2024 - Minister of Housing, Utilities and New Urban Communities Sherif el Sherbini said that President Abdel Fattah El Sisi issued directives to increase construction progress rates in projects in the new Al...
Egypt’s Non-Oil Trade Deficit Records $6.4B During Q1 of 2024: IDSC
7/7/2024 - In the first quarter (Q1) of 2024, Egypt's non-oil trade balance deficit experienced a significant decrease of 22.9 percent, reaching approximately $6.4 billion.

This marks a notable improv...
El Wazir: We Seek to Intensify Local Industry, Attract Investments
7/8/2024 - Deputy Prime Minister and Minister of Transport and Industry Kamel El Wazir has said his ministry seeks to deepen the local industry and attract more investments, especially to the automotive industry...
Egyptian Abroad Remittances Record $2.7B in May 2024: CBE
7/8/2024 - During May 2024, remittances sent by Egyptians working overseas experienced a substantial annual increase of 73.8 percent, totaling approximately $2.7 billion.

In comparison, the remittance...
Investment Min: Top Priority Given to Increasing Merchandise Exports to Reach Dlrs 100 Bn Annually
7/9/2024 - Minister of Investment and Foreign Trade Hassan el Khatib said increasing state's merchandise exports up to 100 million dollars annually is on the the top of the agenda of the ministry.

He ...
Egypt Plans to Raise Outsourcing Exports to $9 Bln By 2026
7/9/2024 - Egypt plans to expand outsourcing service exports to $9 billion by 2026, the cabinet said in a statement, citing a report released by the Information and Decision Support Centre (IDSC).

The...
13,000 Tons Of Goods Handled to Red Sea Ports
7/9/2024 - About 13,000 tons of goods were handled at the different Red Sea harbors, the Red Sea Ports Authority (RSPA) said.

In a statement, the RSPA said the imports included 5,000 tons of goods, 34...
Minister: Scaling Up Exports to $100b Is A Priority
7/9/2024 - Khatib has said such a target can be achieved by promoting export-orientated investments, enhancing the competitiveness of Egyptian products in global markets, opening new markets, leveraging free and...
PM: Gov’t to Work With Ministerial Economic Group to Boost Investments
7/9/2024 - Prime Minister Moustafa Madbouli said the government will work with the economic ministerial group on short-term files, including pegging prices, cutting inflation rates, upping direct and indirect in...
Egypt Agricultural Exports Jump to $2.9 Bln in 1H 2024
7/10/2024 - Egypt’s agricultural exports jumped to $2.9 billion in the first half (1H) of 2024, a growth of $600 million compared to the corresponding months of 2023, the Ministry of Agriculture and Land Reclamat...
Egypt Targets $20 Bln for Private Sector Investments
7/10/2024 - Egypt targets executing $20 billion worth of investments by the private sector during the current FY2024/2025, President of the General Authority for Investments and Free Zo (GAFI) Hossam Heiba said d...
Egypt Annual Headline Inflation Keeps Downward Path in June: CAPMAS
7/10/2024 - Egypt’s headline annual inflation rate kept its downturn path in June, for the fourth consecutive month, decelerating to 27.1 percent compared to 27.4 percent seen in May, the Central Agency for Publi...
Agricultural Exports in 1st Half of 2024 Reached 4.9 Million Tons
7/10/2024 - Ministry of Agriculture announced that the total agricultural exports in the first half of 2024 reached 4.9 million tons, with an increase of 300,000 tons in comparison with same period in 2023.
Special Committee Formed to Study Program of New Govt Holds 2 Meetings
7/10/2024 - The special committee formed to study the policy statement of the new government will hold two meetings to answer questions on government program.

The first meeting will be held in presence...

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