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Financials and Investment News in Egypt

Egypt to Issue EGP 2 Note in FY2024/2025
8/18/2024 - Egypt will issue a EGP 2 note in FY2024/2025 to facilitate holding the small currency, according to Asharq Business with Bloomberg.

Asharq stated that all the procedures to coin and issue t...
Berenice Port Development Key in Egypt-Kuwait Cooperation Talks
8/19/2024 - Egypt and Kuwait have discussed ways to strengthen bilateral cooperation in the fields of industry, transport, and logistics, with a particular focus on the development of the Berenice port.

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S. Korea & Egypt Discuss Strengthening Future-Oriented Economic Partnership
8/19/2024 - Minister of Finance met with Ahmed Kouchouk, Ambassador Kim Yonghyon of the Republic of Korea in Egypt to discuss ways to strengthen economic cooperation between the two countries.

Ambassad...
Investment Minister: Govt. Keen on Boosting Investor Support
8/19/2024 - The Minister of Investment and Foreign Trade, Hassan El-Khatib, announced that the government is actively working to eliminate obstacles facing investors.

The ministry aims to maximise th...
Egypt, Saudi Arabia to Enhance Agreement for Investment Cooperation
8/19/2024 - Prime Minister Mostafa Madbouly led a session focusing on the clauses of an agreement aimed at bolstering and fostering Egyptian-Saudi investments.

This gathering signifies a pivotal strid...
Local Civil Aviation Facilities Meet World Standards
8/20/2024 - Minister of Civil Aviation, Sameh El-Hafny, conducted a comprehensive inspection of the Egyptian Civil Aviation Authority, to assess progress of ongoing projects, aimed at improving Egypt’s civil avia...
Wazir: Egyptian Market Has All Potentials to Develop Automotive Industry
8/20/2024 - Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir said the Egypt market has all potentials that enables it to develop strong automotive industry, i...
Egypt’s Govt. Committed to Support Automotive Industry
8/20/2024 - The Egyptian Minister of Industry, Kamel El Wazir, reaffirmed the government’s commitment to supporting the growth of the automotive industry in Egypt, emphasising the significance of backing global ...
Egypt, EU to Implement €8M Program to Support Industry
8/20/2024 - The Egyptian government has entered into an €8 million agreement with the European Union (EU) under the EU Tigara program, aimed at bolstering trade, industry, growth, and swift market access.

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Ministry of Finance: New Chapter Btw Tax Authority & Business Community
8/20/2024 - The Ministry of Finance has released an infographic stating that a new chapter will soon begin between the Egyptian Tax Authority and the business community, and this new approach will treat taxpayers...
CBE Hosting Big Data, AI Training Programme for COMESA Central Banks
8/20/2024 - The Central Bank of Egypt (CBE) is hosting a training programme on the application of big data analysis and artificial intelligence (AI), from 18 to 22 August, in collaboration with the Monetary Insti...
Minister: Non-Stop Surprise Tours to Inspect Bodies Affiliated to Military Production Ministry
8/24/2024 - Minister of State for Military Production Mohamed Salah Eddin Moustafa stressed keenness on continued surprise inspection tours of the ministry's affiliated bodies to follow up flow of work.

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DCODE EFC’s Report Reflects Egypt’s Development on Int’l Transparency Indicators
8/24/2024 - The Finance Ministry said the recent report released by the Dcode Economic and Financial Consulting (DCODE EFC) on international transparency for 2023 has reflected Egypt’s positive growth and develop...
Cairo, Alexandria, Other African Cities to Dominate Gdp Growth By ’35 – Eiu
8/25/2024 - Cairo, Egypt, along with other major African cities, is projected to be among the top 100 African cities with the highest GDP by 2035, according to a recent report by the Economist Intelligence Unit (...
PM Probes With Agricultural Minister Means to Ensure Delivery of Subsidized Fertilizers to Farmers
8/25/2024 - Prime Minister Mostafa Madbouli held a meeting at the Headquarters of the Government in New Alamein city with Minister of Agriculture and Land Reclamation Alaa Farouk.

They discussed import...
New Survey Spotlights Egypt’s Progress in Financial Transparency And Oversight: Finance Ministry
8/25/2024 - The Ministry of Finance recently highlighted the 2023 Global Open Budget Survey (OBS) results, which have spotlighted Egypt’s advancements in transparency, budget oversight, and public participation o...
Prime Minister Announces Approval of Two New Renewable Projects
8/25/2024 - Prime Minister Mostafa Madbouly has announced that the Cabinet, in its recent meeting, approved two major renewable energy projects for foreign investors, with direct foreign investment.

Th...
Egypt's Bourse Shows Mixed Performance At Close of Trading
8/25/2024 - Egyptian Exchange (EGX) indices showed mixed performance at the close trading, backed by sales by institutions and Egyptian investment funds and strong purchases by Arab and foreign institutions and A...
Suez Canal Authority Ups Stake in Suez Canal Bank
8/25/2024 - The Suez Canal Authority (SCA) increased its ownership in Suez Canal Bank, purchasing approximately 15.76 million shares and raising its stake from 0.001 percent to 3.427 percent.

This acqu...
Total Volume of Tourist Arrivals to Egypt Surpasses 8M in 2024
8/25/2024 - In the initial seven months of 2024, Egypt witnessed a surge in tourist arrivals, surpassing 8 million visitors, as announced by Amr El-Kady, the CEO of the Egyptian Tourism Authority.

El-K...

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