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Financials and Investment News

Bank Deposits Up By EGP 65bln in November: CBE
Egypt >> 2/5/2019 - The Central Bank of Egypt (CBE) announced an increase in bank deposits by around EGP 65 billion by the end of November to reach 3.761 trillion pounds, compared to 3.696 trillion in October.

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Foreign Investments in Treasury Bills, Bonds Reach $13.1bn in January: Official
Egypt >> 2/5/2019 - Deputy Finance Minister for Financial Policies Ahmed Kouchouk said foreign investments in the Egyptian treasury bills and bonds hit $13.1 billion till January 28, 2019.

Addressing a press con...
Mamish: Suez Canal Sets Highest Daily Record in History with 5.8 Million-Ton-Cargo
Egypt >> 2/6/2019 - Chairman of the Suez Canal Authority (SCA) Mohab Mamish announced that navigation at the Suez Canal recorded the heaviest daily cargo in the history of the waterway with 5.8 million tons.

Th...
Egypt, Zanzibar Discuss Cooperation in Agricultural Domain
Egypt >> 2/6/2019 - Agriculture Minister Ezzel Din Abu Steit held a number of meetings in Zanzibar, a semi-autonomous region of Tanzania, for talks on promoting agricultural cooperation.

Talks covered transferri...
Egypt Receives Fifth $2bn Tranche from IMF Loan Package As Lender Gives Thumbs Up
Egypt >> 2/6/2019 - Egypt said it received a fifth $2 billion tranche from the International Monetary Fund (IMF), bringing it one step closer to finalising the disbursements of a $12 billion loan package from the interna...
Egypt Reports 62% Increase in Net Profit For 2018
Egypt >> 2/6/2019 - Building on its strong performance since entering the Egyptian market, Al-Ahli Bank of Kuwait-Egypt (ABK-Egypt) reported earlier this week a significant increase of 62 percent in net profit for 2018, ...
ASE Closes Trading at JD5.5 Million
Jordan >> 2/6/2019 -  The Amman Stock Exchange (ASE) closed trading session up by 0.06 percent at 1,965 points. A total of 2.8 million shares were traded through 1, 813 transactions at a trading value of JD5.5 million.
IMF: Egypt Successfully Weathered Recent Capital Outflows
Egypt >> 2/6/2019 - David Lipton, First Deputy Managing Director and Acting Chair of the International Monetary Fund (IMF), said Egypt has successfully weathered recent capital outflows but stressed that consistent polic...
Bahrain Real Estate Investment Expo 2019 Opens
Bahrain >> 2/6/2019 - The Bahrain Real Estate Investment Expo 2019 will be launched on February 7 under the patronage of Shaikh Salman bin Abdulla Al Khalifa, Chairman of Real Estate Regulatory Authority (RERA) President o...
Egyptian Parliament Approves Amendments to Income Tax Law
Egypt >> 2/6/2019 - Egypt’s Parliament approved by majority vote in a general session on Tuesday amendments to some provisions of the Income Tax Law no. 95 of 2005.

The bill includes amending the last paragraph ...
Can Fintech Help Egypt Achieve Financial Inclusion?
Egypt >> 2/6/2019 - Ahram Online spoke to Jing Zhou, president of Pintec Technology Holdings, who participated last week in the Banking Technology North Africa Summit in Cairo, to learn how digital technologies can help ...
Egypt's Bourse Gains EGP 14.4 Bln
Egypt's Bourse Gains EGP 14.4 Bln Egypt >> 2/6/2019 - The Egyptian Exchange (EGX) indexes posted collective gains backed by purchases of local institutions.

The market capital gained EGP 14.4 billion to reach EGP 812.1 billion amid transactio...
Jordan Participates in the Arab Economic, Social Meeting in Cairo
Jordan >> 2/7/2019 - Jordan, represented by Trade and industry Ministry Secretary General Yousef Shamali, took part in Cairo in the 103rd ministerial session of the Arab Economic and Social Council.

Arab Leagu...
Mof to Discuss Development of Smes with IMF’s Lagarde at Dubai World Government Summit
United Arab Emirates >> 2/7/2019 - The Ministry of Finance, MoF, will participate in the 7th World Government Summit, an event that will include round table discussions with the International Monetary Fund Director Christine Lagarde ab...
Egypt, US Discuss Prospects of Cooperation in Gas, Petroleum Fields
Egypt >> 2/8/2019 - Minister of Petroleum and Mineral Resources Tareq el Molla discussed with US Charge d’Affaires in Cairo Thomas H. Goldberger prospects of bilateral cooperation in the coming stage in line with Egypt’s...
Omran: 2022 Strategy for Development of Non-Banking Financial Sector Supports National Economy
Egypt >> 2/8/2019 - Head of the Financial Regulatory Authority (FRA) Mohamed Omran stressed that the 2022 strategy for the development of the non-banking financial sector aims at supporting national economy.

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Egypt, Tanzania Discuss Establishing Joint Model Farm
Egypt >> 2/8/2019 - Minister of Agriculture and Land Reclamation Ezz Eddin Abu Steit has discussed with Tanzanian officials means of boosting cooperation in the agricultural field, including a proposal to establish a joi...
PM Reviews with TEC Program for Promoting Egyptian Exports
Egypt >> 2/8/2019 - Prime Minister Mostafa Madbouli chaired a meeting with the members of the Textile Export Council (TEC) to discuss their visions on a program for boosting exports and view major challenges facing the s...
Lower Gas Imports, High Tourism Revenues, and T-Bills: Keeping the Egyptian Pound Stable
Egypt >> 2/8/2019 - The executive board of the International Monetary Fund (IMF) completed its fourth review of Egypt’s economic reform programme this week, a condition of its $12 billion loan.

The completion of...
IMF Chief Warns of High Arab Public Debt
Egypt >> 2/9/2019 - Public debt has rapidly increased in many Arab countries since the 2008 global financial crisis, due to persistently high budget deficits, the International Monetary Fund warned . "Unfortunately, the ...

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