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Financials and Investment News

Gov't to Compensate Nubians Affected by Construction of High Dam
Egypt >> 1/10/2023 - The Cabinet Media Center said that the state spares no effort to compensate its citizens who were affected by the construction and development of the High Dam in Aswan.

In a video it publis...
MENA’s Growth to Decelerate to 3.5% in 2023 Amid The Global Economic Crisis: World Bank
Egypt >> 1/10/2023 - Amid global economic crises, the World Bank expected the growth of the Middle East and North Africa (MENA) region to slow down to 3.5 percent this year and to 2.7 percent in 2024, down from 5.7 percen...
Deadline for Customs-Free Car Import Initiative Not to Be Extended: Finance Minister
Egypt >> 1/10/2023 - Minister of Finance Mohamed Maait said that the government has no intention to extend the deadline for the initiative launched for Egyptians living abroad to import cars into the country, free of cust...
Egypt to Receive The Second Tranche of IMF’s $3 Bln Loan By End of March, Says Mission Head
Egypt >> 1/10/2023 - Egypt is set to receive the second tranche of the $3 billion loan it secured from the International Monetary Fund (IMF), estimated at around $347 million, by the end of March, following the completion...
World Bank Warning: Global Economy Is At Risk of Recession
Egypt >> 1/10/2023 - The global economy will slow "perilously close" to a recession this year, led by weaker growth in all the world's top economies _ the United States, Europe and China, the World Bank warned .

...
Dubai Records Over AED1.2 Bn in Realty Transactions Tuesday
United Arab Emirates >> 1/10/2023 - Dubai real estate market recorded 505 sales transactions worth AED1.06 billion, in addition to 55 mortgage deals of AED82.22 million, and 25 gift deals amounting to AED86.73 million, data released by ...
Borouge Secures Two New Contracts Worth AED55 Million from Leading UAE Manufacturers
United Arab Emirates >> 1/10/2023 - Borouge, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, has secured two new contracts worth a combined value of AED 55 million (US$15 million) to sup...
Hamdan Bin Mohammed And Maktoum Bin Mohammed Review Roadmap for Implementing Dubai Economic Agenda
United Arab Emirates >> 1/10/2023 - H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, in the presence of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy ...
Steelfab 2023 Continues to Promote Use of AI in Iron And Steel Industry
United Arab Emirates >> 1/10/2023 -  The 18th edition of SteelFab 2023, currently being hosted by the Expo Centre Sharjah until 12th January, has continued to enthral visitors and exhibitors with its sophisticated exhibits, providing a ...
Mubadala, Resilience Partner to Develop and Advance Biopharma Manufacturing In UAE
United Arab Emirates >> 1/10/2023 - Mubadala Investment Company PJSC (Mubadala), an Abu Dhabi sovereign investor, and National Resilience, Inc. (Resilience), a technology-focused manufacturing company dedicated to broadening access to c...
Egypt’s Annual Headline Inflation Rose to 21.9% in December, Up From 19.2% in November: CAPMAS
Egypt >> 1/10/2023 - Egypt's annual headline inflation rose to 21.9 per cent in December 2022, up from 19.2 per cent a month earlier and 6.5 per cent in December 2021, announced the Central Agency for Public Mobilisation ...
Egypt Has Enough Reserves of Basic Commodities to Last Months: Supply Ministry Official
Egypt >> 1/10/2023 - Egypt has a safe stock of all basic commodities, which will cover the country's needs for months to come, said Head of Internal Trade Sector at the Supply Ministry Abdul Moneim Khalil.

Duri...
Petroleum Min: Luring Investments to Golden Triangle Economic Zone Priority of Political Leadership
Egypt >> 1/10/2023 - Petroleum Minister Tarek Al Molla said that luring more investments to the Golden Triangle Economic Zone is a priority for the political leadership and government.

Presiding over a workshop...
Yasmin Fouad: Abo Rawash Waste Project Pioneering Experience for Generating Electricity
Egypt >> 1/10/2023 - Environment Minister Yasmin Fouad said the project of turning solid waste into electricity in Giza will be a pioneering experience to achieve economic revenue from recycling and reduce CO2 emissions.<...
State Keen to Diversify Promising Investment Opportunities for Local, Foreign Investors
Egypt >> 1/10/2023 - Minister of Planning and Economic Development Hala el Saeed said the State is keen to diversify promising investment opportunities for local and foreign investors.

Saeed made the remarks du...
Damietta Port receives biggest wheat shipment since inauguration
Egypt >> 1/10/2023 - Damietta Port received the biggest wheat shipment since its inauguration in 1986.

The port received the bulk carrier "SABAEK" flying the flag of Panama and coming from Russia with 96,200 to...
CIB Egypt Offers Cds With a Distinctive Return, Following NBE, Banque Misr
Egypt >> 1/11/2023 - Commercial International Bank Egypt announced that it would raise the interest on Certificates of Deposit (CDs) for a year and a half.

The move makes CIB the third bank to raise the interes...
BREAKING: Egyptian Pound Continues to Depreciate Against US Dollar to Over EGP 29
Egypt >> 1/11/2023 - Hitting a new low, the Egyptian pound lost over 10 percent of its value against the US dollar to record over EGP 29 on Wednesday morning.

The dramatic slide came following the International...
IT Minister, NIELIT Director General Probe Cooperation in Building Up Digital Capacities
Egypt >> 1/11/2023 - Minister of Communication and Infromation Technology Amr Talat discussed with Director General of the Indian National Institute of Electronics & Information Technology (NIELIT) Dr. Madan Mohan Tripath...
PM :Gov’t Acting to Develop Non-Banking Financial Services
Egypt >> 1/11/2023 - Egyptian Prime Minister Moustafa Madbouli has said that his government is acting to develop non-banking financial services.

The government pays utmost attention to supporting efforts of the...

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