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Financials and Investment News in Egypt

Tareq Wafik : Seized Land will be Restored
4/9/2013 - Minister of Housing and New Urban Communities Tareq Wafik said on 8/4/2013 the Ministry will get back the land and dwelling units which have been seized during the period of lawlessness, which followe...
Proposals to Adjust Temporary Labor Status Floated in Egypt
4/9/2013 - Minister of Finance al-Morsy el-Sayed Hegazy said on 8/4/2013 the ministry has prepared a memo to be referred to the Cabinet on conditions of the temporary workers and the proposed mechanisms for impr...
Egypt Stocks Rise after Scrapping of Planned Bourse Tax
4/9/2013 - Egypt stocks rose in trading on news that a planned tax on stock market dealings – including share dividends, mergers and acquisitions – had been cancelled. Shareholders will be refunded for taxes lev...
Egypt Stocks Rise in Third Consecutive Session
4/9/2013 - Egypt’s stocks continued it’s northern direction for the third consecutive session as they are still stimulated by the positive news about scrapping the taxes that were suggested to be imposed on the ...
Egyptian Stock Exchange Gains LE 3.6 Billion
4/10/2013 - The Egyptian Stock Exchange on 9/4/2013 gained LE 3.6 billion on the backdrop of massive purchases by Arab investors.
LE1.5 Million for Financing 433 Projects
4/10/2013 - Minister of Local Development Mohamed Ali Beshr said the local development fund agreed on financing 433 ventures in 16 governorates with investments hitting LE 1.5 million. The 16 governorates are: No...
$ 3 Billion for Electricity Linkage between Egypt, Saudi Arabia
4/10/2013 - Sources at the electricity sector said that agreements for electricity linkage between Egypt and Saudi Arabia are expected to be signed within a month after the Saudi Cabinet agreed on 9/4/2013 on com...
Governor of Jeddah Receives South Korean Ambassador
4/10/2013 - Prince Mishaal bin Majed bin Abdul-Aziz, Governor of Jeddah received the South Korean Ambassador to the Kingdom of Saudi Arabia, Kim Jong-yong. During the meeting, they exchanged cordial talks and dis...
Morsi Orders Offering New Credit Policies
4/11/2013 - In a remarkable change in its credit policies it offers to farmers, the Principal Bank for Agricultural Development and Credit will offer on 14/4/2013 unprecedented credit facilities. Under these faci...
IMF Loan is Important to Help Egypt Overcome Economic Crisis
4/11/2013 - Minister of Planning and International Cooperation Ashral el-Arabi has stressed the importance of mobilizing all efforts to expedite the agreement with the International Monetary Fund (IMF) on the $ 4...
Morsi Orders Offering New Credit Policies
4/11/2013 - In a big change in its credit policies it offers to farmers, the Principal Bank for Agricultural Development and Credit will offer on Sunday 14/4/2013 new facilities for the first time. Under these fa...
23 Major S.Korean Companies Seek Investing in Egypt
4/11/2013 - Finance Minister el-Morsi Hegazy said on 10/4/2013 that up to23 South Korean companies are seeking to invest in Egypt under the Public Private Partnership (PPP) system. The remark was made at a meetin...
Egypt, Poland Discuss Boosting Joint Cooperation
4/12/2013 - Egyptian Minister of Planning and International Cooperation Dr. Ashraf El-Arabi met on 11/04/2013 with Jerzy Buzek, the former prime minister of Poland during a Cairo visit. The meeting reviewed means...
Shura Approved $1 bn Loan Agreement with Turkey
4/14/2013 - Shura Council agreed on agreement with Turkey on 13/4/2013 on lending Egypt one-billion-dollar loan. The agreement aims at helping Egypt to buy Turkish goods and use the money for funding national ind...
Visitors to Egypt Allowed to Carry $10,000
4/14/2013 - Cairo International Airport Customs started on 13/04/2013 to amend Central Bank procedures to allow visitors entering Egypt to carry foreign currency with no limit, however, they should declare the am...
Egyptian Government is Serious in Facing Economic Crisis
4/14/2013 - Minister of Planning Ashraf El Araby said the government targets reducing the budget deficit to 85% in the coming fiscal year, against 95 % this year. The government also plans to reform the tax syste...
Hatem Abdul Latif Meets Italian Ambassador
4/15/2013 - Transportation Minister Hatem Abdul Latif met on 14/4/2013 with Italy's Ambassador to Egypt Maurizio Massari to discuss means of boosting joint cooperation. Abdul Latif also met with the chief of the ...
Egyptian Shura Approves Amending Income Tax
4/15/2013 - The Shura Council approved on 14/4/2013 amending a number of articles of the income tax law. The bill has developed a new category for the application of progressive tax by imposing 30% on persons who...
IDSC: EGP 1 Trillion in Value of Bank Deposits
4/15/2013 - A recent report by the Cabinet Information and Decision Support Centre (IDSC) disclosed that the aggregate value of deposits with banks increased by 10.25 per cent at the end of December last year to ...
Egypt, US Start Talks on Setting up Free Trade Zone
4/15/2013 - Industry and Foreign Trade Minister Hatem Saleh on 14/4/2013 discussed with a US delegation means of establishing a free trade zone to boost trade relations between the two countries. The minister, at...

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