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Financials and Investment News in Egypt

Seventy Legislations to be Put for Public Debate
1/8/2013 - Twenty-four hours before the announcement of the government line up, the government has started to carry out the assignments given by President Mohamed Morsi. Economic reform, improvement of services,...
Dollar Exchange Rate up by Three Piasters
1/9/2013 - Dollar exchange rate against Egyptian pound rose by three piasters on 8/1/2013, reacting 648.18 piasters for purchase and 648.19 for sale in the National Bank of Egypt. Dollar exchange rate reached 64...
ESE Gains LE 2.6 bn
1/10/2013 - The Egyptian Stock Exchange (ESE) gained LE 2.6 billion at the end of trading on 9/1/2013 pushed by purchase operations by foreign and Arab investors optimistic about the ability of the Egyptian econo...
Morsi Calls on Govt to Support Farmers
1/10/2013 - President Mohamed Morsi called on the government to support farmers and provide all needed fertilizers for the winter cultivation season, presidential Spokesman Yasser Ali said on 9/1/2013. Ali said t...
Hisham Qandil Opens MECACC Conference
1/10/2013 - Prime Minister Hisham Qandil inaugurates on 13/1/2013 the annual conference of the Middle East Council of American Chambers of Commerce (MECACC), which will run for two days in Cairo. he event, to be ...
Egypt's FM Reassures US Ambassador
1/11/2013 - Egyptian Minister of Finance El-Morsi Hegazy met with US ambassador to Egypt Anne Patterson to discuss Egypt's economic woes, prospects of revamping its national economy and developments in the IMF lo...
High dollar Exchange Rate is not a Source of Concern
1/12/2013 - Hisham Ramez, the new governor of the Central Bank of Egypt (CBE) said the high exchange rate of the US dollar in the face of the Egyptian pound should not represent a source of concern. Ramez said th...
Egypt, Saudi Arabia to Boost Economic Cooperation
1/12/2013 - Minister of Industry and Foreign Trade Eng. Hatem Saleh said that economic cooperation between Egypt and Saudi Arabia is set to boom in the coming stage. Addressing a meeting with Egyptian members of ...
Egypt is Moving in the Right Direction
1/12/2013 - Minister of Finance Dr. El Morsy Hegazy said Egypt is moving in the right direction towards overcoming its economic crisis thanks to its highly efficient human resources which are capable of pushing f...
Mohammed bin Fahd Receives Swiss Ambassador
1/13/2013 - Prince Mohammed bin Fahd bin Abdulaziz, Governor of Eastern Region, received Swiss ambassador to the Kingdom of Saudi Arabia Dag Yulin. During the meeting, they reviewed bilateral relations between th...
IDB Lends Egypt $250 mn for South Helwan Power Plant
1/14/2013 - Prime Minister Hisham Qandil and Minister of Electricity and Energy Ahmed Imam will witness the inking of an agreement with the Islamic Development Bank (IDB) giving Egypt the second installment of a ...
Bilateral relations between Egypt and Turkey
1/14/2013 - Egypt's Industry and Foreign Trade Minister Hatem Saleh on 13/1/2012 underlined the necessity of boosting economic relations between Egypt and Turkey. Speaking to an Egyptian-Turkish forum on steel in...
Egypt Faces Major Economic Challenges
1/14/2013 - Prime Minister Hisham Qandil said Egypt is facing major economic and democratic transition challenges, adding his government is working on achieving the people's aspirations for "Bread, Freedom and Hu...
Abu Dhabi Boosts Economic Cooperation with Japan
1/15/2013 - Mohammed Omar Abdullah, the Undersecretary of Abu Dhabi Department of Economic Development has hailed the economic relations between Abu Dhabi and Japan as strategic, firm and deep. These ties are fur...
Currency Crisis Won't End Qatar Bank's Egypt Buy
1/16/2013 - Qatar National Bank hopes to complete the purchase of Societe Generale's Egyptian unit in the next two months and won't be deterred by the currency crisis in the north African country, it said on Wedn...
Egypt to Make Changes to Economic Reform Plan
1/16/2013 - Finance Minister Al-Morsy Hegazi said on 15/1/2013 that Egypt is currently seeking to change the economic reform plan to obtain thr IMF $ 4.8 billion loan. At a meeting with the Bank Group Chairman Ah...
Egypt's Pound Vox Pops: Strong Dollar in Streets
1/17/2013 - A US dollar crisis has swept Egypt since late December. As the market for foreign currency has dried up, the value of the Egyptian pound dropped consecutively against the dollar to reach LE6.59. While...
Egyptian Economists Worry for 2013
1/17/2013 - Prominent economists expressed their predictions on Egypt’s economy in 2013 and the possible turns it could take in a roundtable at the American University in Cairo (AUC). Inflation is predicted to su...
Egypt Inks LE 11.8 mn for Developing Metro
1/17/2013 - Prime Minister Hisham Qandil witnessed on 16/1/2013 the signing of a contract with SYSTRA of France to propose options to develop the first line of the Metro from Helwan to Marg. National Authority fo...
EU to Provide USD 6.5 Billion to Egypt
1/18/2013 - The European Union (EU) will provide more than 6.5 billion dollars in forms of grants and soft loans with long grace periods to Egypt during the fiscal year 2012/2013, once Egypt has signed its agreem...

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