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Financials and Investment News in Egypt

EGX Gains LE 11.6 bn , Index Jumps 4.94%
7/3/2013 - The Egyptian Exchange (EGX) made a powerful performance during midday trading on 3/7/2013, pushed by intensive purchase by Egyptian investors following a statement issued by the Armed Forces giving 48...
Egypt to Sign $4.8 bn IMF Loan
7/6/2013 - Egypt will sign a long-awaited $4.8 billion loan deal with the International Monetary Fund (IMF) by the end of this month, state news agency MENA reported, citing the minister of planning and internat...
CBE Announces Opening "Supporting Egypt" Account
7/7/2013 - An official source with the Central Bank of Egypt (CBE) told "Al-Youm Al-Sabei" newspaper that "Supporting Egypt" bank account 306-306 will be opened with the CBE and all banks of Egypt to receive fun...
IMF's Lagarde Says May Trim Global Growth Forecast
7/7/2013 - The International Monetary Fund may this week trim its global growth forecast because of the situation in emerging countries, IMF chief Christine Lagarde told a conference.

"We had a growth...
Egypt Pound Strengthens at Central Bank Currency Sale
7/8/2013 - The Egyptian pound strengthened at a central bank sale of foreign exchange, hours after violence broke out between supporters of deposed President Mohamed Mursi and the military, a banker said.
CBE: Foreign Currency Reserve down to $14.9bn in June
7/8/2013 - The Central Bank of Egypt (CBE) announced that foreign reserve has declined to reach $14.9bn in June 2013.

Economic expert Mohsen Adel said that the decrease is due to Egypt's payment of it...
Mansour Discusses Boosting Ties with Bahrain
7/12/2013 - Interim President Adly Mansour held a meeting with Bahraini Deputy Prime Minister Sheikh Khaled bin Abdullah al-Khalifa and his accompanying delegation at Heliopolis presidential palace.

Th...
Security, Economy Top Priorities of New Government
7/12/2013 - Prime Minister designate Hazem al-Beblawy affirmed that his government will be an integrated one that gives top priority to economic, security, social and cultural issues. He highlighted that there ar...
Moscow Ready to Discuss Aid to Egypt
7/14/2013 - Russian Deputy Foreign Minister Deputy and Envoy to the Middle East Mikhail Bogdanov said that the Egyptian authority may ask Russia for economic aid and Moscow is ready to discuss the issue.

...
US Welcomes Formation of Interim Government in Egypt
7/17/2013 - The US State Department on 16/7/2013 welcomed the formation of an interim government in Egypt. Spokesman Patrick Ventrell told a news briefing that the transitional period has just started and Egypt n...
600.000 Plots of Lands to be Offered for Sale by Lottery
7/20/2013 - Minister of Housing, Utilities and Urban Development Ibrahim Mehleb said that the ministry decided to accelerate inventory of all units affiliated to the Urban Communities Authority, which were constr...
Holding Company for Running 75,000 Feddans in Tushka
7/20/2013 - Prime Minister Dr. Hazem El-Beblawy would consider tomorrow a study conducted by the Agriculture Minister Ayman Abou Hadid for developing 75,000 feddans in the giant Tushka project via the establishme...
$29mln Investments in free Zones in 6 Months
7/22/2013 - Up to 19 new investment companies are established in the Egyptian free zones at total investments reaching $29 millon during the first half of this year.

According to officials with the Gen...
Mounir Fakhri Extends Current Export Support Program for 3 Months
7/24/2013 - Trade and Industry Minister Mounir Fakhri Abdel-Nour has decided to extend the current export support program for three months as of July 1.

New mechanisms will be in place as of October 1,...
Increase in Cargo Transmitted through Vessels Transiting Suez Canal
7/27/2013 - There is an increase in the cargo transmitted through the vessels transiting the Suez Canal on 26/07/2013. Fifty-three ships transited the Suez Canal, carrying a total cargo of 3.236 million tons.
...
Economic Relations with US are Strategic
7/31/2013 - During his meeting with members of the American Chamber of Commerce, Industry and Foreign Trade Minister Mounir Fakhri Abdel Nour said that Egyptian-American economic relations are strategic and based...
Egypt Credit Rating is Positive
8/1/2013 - Moody's and Standard & Poor's said that Egypt's credit rating is positive. Economist considered the assessment of Moody's and Standard & Poor's a good sign of.

It is worth mentioning that r...
H.H. Sheikh Abdullah bin Zayed Meets Egyptian Foreign Minister
8/3/2013 - H.H. Sheikh Abdullah bin Zayed Al Nahyan, the UAE Foreign Minister, met with Egyptian Foreign Minister, Nabil Fahmy.

During the meeting which was held in presence of Dr Anwar Mohammed Garga...
Urgent Measures to Solve Investors’ Problems in Egypt
8/5/2013 - Industry and Trade Minister Monier Fakhri Abdel Nour unveiled that the Egyptian government is about to take a number of urgent measures to address economic challenges and settle problems facing invest...
LE 1.6 billion to Carry out Projects in Sharm el-Sheikh
8/5/2013 - South Sinai Governor Major General Khalid Fouda said that the South Sinai would witness a quantum leap in tourism. He added that the Ministry of Environment and the Ministry of Tourism would coordinat...

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