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Financials and Investment News

Finance Minister Follows Up on Preparations for AIIB Meetings
Egypt >> 9/20/2023 - Finance Minister Mohamed Maait inspected the venue where a meeting of the Asian Infrastructure Investment Bank (AIIB) board is set to be held later this month.

Maait also followed up on pre...
Cabinet Holds Weekly Meeting to Discuss Number of Important Files
Egypt >> 9/20/2023 - Prime Minister Moustafa Madbouli presided over a weekly Cabinet meeting to discuss an array of political, economic and social files.

The latest developments in the international arena and r...
Egypt Raises GDP Growth Target for FY2023/2024 to 4.4 Percent
Egypt >> 9/20/2023 - Egypt has increased its economic growth rate target for the fiscal year (FY) 2023/2024 to 4.4 percent from the previously targeted 4.1 percent, said Hossam Heiba, CEO of the General Authority for Inve...
CBUAE Maintains Base Rate at 5.40%
United Arab Emirates >> 9/20/2023 - The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) without change at 5.40%, effective from Thursday, 21 September 2023.
New Report By FAB, Wealth Briefing Shows Growing Role of High-Income Women in MENA Economies
United Arab Emirates >> 9/20/2023 - The rise in women’s wealth is transforming MENA region economies, according to a report by FirstAbu Dhabi Bank (FAB), and WealthBriefing, a global business intelligence service for the wealth manageme...
Sharjah Finance Department Hosts Financial Forum 2023 With Emphasis on Digital Gateways
United Arab Emirates >> 9/20/2023 - Sharjah Finance Department (SFD) hosted the Sharjah Annual Financial Forum 2023, which drew over a hundred people, many of whom represented government agencies and other Sharjah-based organisations.
Dubai Chamber of Commerce, Etisalat By E& to Showcase Innovative Digital Payment Solution
United Arab Emirates >> 9/20/2023 -  Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has hosted a webinar aimed at introducing Small and Medium-sized Enterprises (SMEs) to uTap, a new...
Minister: Egypt to Host 8th Meetings of Asian Infrastructure Investment Bank in Sharm El-Sheikh
Egypt >> 9/23/2023 - Egypt will host the 8th annual meetings of the Asian Infrastructure Investment Bank (AIIB) in Sharm El-Sheikh on 25 September, according to the Egyptian Minister of Finance, Mohamed Maait.

...
PM Follows Up Progress of Ongoing Projects in Damietta at Investments Worth EGP 14.5 Bn
Egypt >> 9/23/2023 - Prime Minister Moustafa Madbouli followed up the progress realized so far in ongoing projects in Damietta at investments worth EGP 14.5 billion.

Madbouli underlined the importance of swift...
Moiat, Abu Dhabi Chamber Highlight Catalysts of Industrial Growth
United Arab Emirates >> 9/24/2023 - The Ministry of Industry and Advanced Technology (MoIAT) and the Abu Dhabi Chamber of Commerce and Industry (ADCCI) held a workshop, in cooperation with the Industrial Development Bureau (IDB) of the ...
Mashat: Egypt’s Hosting of AIIB Meetings Affirmed Close Ties With Development Banks
Egypt >> 9/24/2023 - Minister of International Co-operation Rania El Mashat has asserted that Egypt’s hosting of the annual meetings of The Asian Infrastructure Investment Bank (AIIB), due to kick off and runs till Septem...
FM Urges Reforming Global Financial Structure, Developing Int’l Funding System
Egypt >> 9/24/2023 - Foreign Minister Sameh Shoukry has called for taking constructive steps to reform the global financial structure and develop the existing international funding system.

Delivering Egypt’s sp...
Egypt Starts Trading T-Bills on Stock Market With $1.1 Bln Deals
Egypt >> 9/24/2023 - The Egyptian Exchange (EGX) started trading treasury bills (T-Bills) on the secondary market, according to a press release.

The first day closed with a trading value of EGP 33.8 billion ($1...
AIIB’s Annual Meetings Kick Off Monday in Sharm El-Sheikh
Egypt >> 9/24/2023 - Egypt hosts the annual meetings of the Asian Infrastructure Investment Bank (AIIB) over two days starting in Sharm El-Sheikh.

The meetings, organized for the first time in Africa, are held ...
Egypt Postpones Onion Export Ban to 1 October
Egypt >> 9/24/2023 - Egypt's Ministry of Trade and Industry announced on Saturday that the Cabinet's decision to ban onion exports, initially scheduled to start late last week, will now take effect on 1 October, to honour...
AIIB President Hails Infrastructure Projects During Sisi Era
Egypt >> 9/25/2023 - Egypt under President Abdel Fattah El Sisi witnessed a quantum leap in the infrastructure growth domain, said President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun.

During ...
Egypt Launches Int'l Bid Round for Gas, Oil Exploration in 23 New Areas
Egypt >> 9/25/2023 - Minister of Petroleum and Mineral Resources Tarek el Molla announced the ministry launched a new international bid round for gas and oil exploration in 23 new areas.

In a statement, he said...
Maait: Hosting AIIB Meetings Reflects Egypt Leading Role
Egypt >> 9/25/2023 - Finance Minister Mohamed Maeet said that the eighth annual meetings of the Asian Infrastructure Investment Bank (AIIB), which kicked off here, reflects Egypt’s leading role at the regional and interna...
Sisi Urges Directing Low-Cost Funding for Emerging States
Egypt >> 9/25/2023 - President Abdel Fattah El Sisi on Monday said that emerging states are in need of additional low-cost funding amid global economic circumstances caused by the outbreak of the coronoavirus, which was f...
Egypt Exerted Great Efforts in Past 8 Years to Bridge Infrastructure Gap: Sisi
Egypt >> 9/25/2023 - Egypt’s President Abdel-Fattah El-Sisi said the country has exerted great efforts over the past eight years to bridge the “huge” infrastructure gap and maintain basic level services across all sectors...

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