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Financials and Investment News in Egypt

Japanese Sumitomo Electric €22 Mln Plant in Egypt to Start Operation in November
10/30/2024 - Japanese Sumitomo Electric Egypt will commence operating its plant for manufacturing electrical wiring harnesses for cars and vehicles, valued at 22 million euros, in the 10th of Ramadan City in Novem...
Cabinet Approves Re-forming Committee for Managing Foreign Debt File
10/31/2024 - The cabinet approved during its weekly meeting under Premier Moustafa Madbouli a draft cabinet decision on re-forming a committee formanaging foreign debt file and regulating foreign loans.

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Egyptian Amb. to Athens Receives Greek Tourism Minister
10/31/2024 - Ambassador Omar Amer, Egypt's Ambassador to Athens, hosted Ms. Olga Kefalogianni, the Greek Minister of Tourism, at the embassy.

During the meeting, they discussed ways to enhance cooperati...
IMF Poised to Embrace Egypt's Economic Appeals: Experts
11/3/2024 - Some economists and financial consultants told Ahram Online they expect the International Monetary Fund (IMF) to respond favourably to Egypt’s requests, potentially reconsidering the timeline for econ...
Egypt Made Progress on Its Economic Reforms Amid Regional, Int'l Challenges
11/3/2024 - The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, highlighted that Egypt's reforms are intended to address the country's economic challenges as she discussed ways t...
Cabinet Holds Its Weekly Meeting to Probe Number of Important Files
11/6/2024 - Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting at the government headquarters in the New Administrative Capital to discuss a number of key political, economic and social files.<...
Madbouly: Egypt Not to Give Up on Its Water Rights; Supports Development in Nile Basin States
11/6/2024 - Egyptian Prime Minister Mostafa Madbouly held a press conference, where he addressed different concerns, especially Egypt’s stance regarding the Ethiopia’s announcement of completing the construction ...
Exchanging Urban Development Expertise With Singapore
11/6/2024 - Cairo Governor Ibrahim Saber met Michael Koh, Deputy Executive Director of the Centre for Livable Cities (CLC) in Singapore.

The meeting came during the activities of the 12 edition of the ...
Egypt Net Int'l Reserves Increase to $46.9 Bln by End-October: Cbe
11/6/2024 - Egypt's net international reserves (NIRs) increased to $46.9 billion by the end of October, up from $46.7 billion in September, according to data published by the Central Bank of Egypt (CBE).

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Egypt Budget Deficit Drops to 2.1% in Q1 FY2024/2025
11/6/2024 - Egypt's budget deficit dropped to 2.1 percent of the GDP in the first quarter (Q1) of the current fiscal year (FY) 2024/2025, down from 3.2 percent in FY2023/2024, Minister of Finance Ahmed Kouchouk a...
US Stocks Surge Including Tesla, Headed By Trump Backer Musk
11/6/2024 - Shares in Tesla soared in pre-market trading after Donald Trump, backed by the electric car maker's boss Elon Musk, claimed victory in the US presidential election.

Tesla shares were up 13 ...
Dollar Soars, Bitcoin Hits Record As Trump Claims Victory
11/6/2024 - The dollar surged and bitcoin hit a record high before Donald Trump claimed victory in the US election, with traders ramping up bets on fresh tax cuts, tariffs, and rising inflation.

While ...
S. Korean Ambassador Says Egypt 'Gateway to African, Me Markets'
11/9/2024 - South Korean Ambassador to Cairo Kim Yonghyon praised steps taken by the Egyptian government to attract foreign direct investment.

South Korean companies are interested in investing in Egyp...
FRA Participates in IOSCO Meetings in Spain
11/9/2024 - Chairman of the Egyptian Financial Regulatory Authority (FRA) Mohamed Farid took part in the International Organization of Securities Commissions (IOSCO) board meetings as well as meetings of the Fina...
Egypt, Cameroon Housing Ministers Discuss Bilateral Cooperation on Sidelines of WUF12
11/9/2024 - Minister of Housing, Utilities and Urban Communities Sherif el Sherbini had a meeting with Cameroon's Minister of Housing and Urban Development Celestine Kitscha and Cameroon Ambassador to Egypt Moham...
MSMEDA Cooperating With WB to Upgrade Egypt Entrepreneurship Eco-System
11/9/2024 - The Micro, Small and Medium Enterprise Development Agency (MSMEDA) is cooperating with the World Bank (WB) to upgrade the Egyptian Entrepreneurship eco-system, CEO Bassel Rahmy said.

MSMEDA...
Transport Minister, Austria’s "Kronospan" Discuss Future Plans in Egyptian Market
11/9/2024 - Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir had a meeting with Hayrettin Akgun Okay, CEO of the Austrian-based wood panels manufacturer "Kron...
Planning, Education Ministers Discuss Needs to Improve Quality of Education Process
11/9/2024 - Minister of Planning, Economic Development and International Cooperation Rania el Mashat said that 42% of the public investments of the plan of the current fiscal year is spent on human and social dev...
Egypt, Slovakia Discuss Cooperation in Circular Economy, Waste Recycling
11/9/2024 - Environment Minister Yasmine Fouad had a meeting with Slovakia's Deputy Prime Minister and Minister of Environment Tomáš Taraba, the Slovak ambassador in Cairo and their accompanying delegation to dis...
Egypt, Angola Mull Boosting Military Production Cooperation
11/9/2024 - Minister of State for Military Production Mohamed Salah Eldin Mostafa discussed avenues of cooperation with Angolan Minister of National Defense and Veterans João Ernesto dos Santos.

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