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Financials and Investment News in Egypt

Kuwait to Deposit USD 2 billion in CBE
9/21/2013 - Governor of the Central Bank of Egypt (CBE) Hisham Ramez said a Kuwaiti deposit worth USD 2 billion will be transferred to the Central Bank of Egypt this week, adding the foreign currencies reserve is...
$2 bn of Foreign Reserve after Arrival of kuwaiti Deposit
9/25/2013 - Governor of the Central Bank of Egypt (CBE) Hesham Ramez said on 24/9/2013 that the bank received the Kuwaiti $ 2 billion deposit, which brought up the foreign monetary reserve to some $ 19 billion.
Iranian Tourism to Egypt Suspended for National Security Reasons
10/2/2013 - Zazou has also said that Iranian tourism to Egypt is currently suspended for national security reasons.

He pointed out that he does not mind dealing with Iranian tourism if it is possible t...
Egyptian Foreign Trade Min. Arrives in Beirut
10/5/2013 - Egyptian foreign trade and industry minister Muneer Fakhri began an official visit to Beirut for talks with Lebanese officials on promotion of economic and trade relations.

The one-day visi...
One Million Olive Trees to be Cultivated in Sinai
10/7/2013 - Minister of Agriculture and Land Reclamation Ayman Farid Abou-Hadid said that the ministry would cooperate with the Arab Organization for Agricultural Development to plant one million olive trees in S...
Gulf States Ready To Invest In Egypt State Projects
10/8/2013 - Cairo is hoping to start announcing details of its investment programme for this fiscal year later this month and Gulf Arab countries have agreed to provide additional financial support, a senior mini...
Egyptian Agricultural Exports Hit LE 34 bn
10/9/2013 - Minister of Agricultural and Land Reclamation Ayman Abou Hadid said that the Egyptian agricultural exports hit about LE34 billion in 2012-2013.

He pointed out that the government took urgen...
Abdel-Nour Announces New line-up of IMC
10/19/2013 - Minister of Industry and Trade Mounir Fakhri Abdel-Nour has decided to reshuffle the Industrial Modernization Center (IMC).

In a statement on 18/10/2013, Abdel-Nour said the ministry is so ...
Biblawy: Economy is Improving, IMF Estimates Inaccurate
10/19/2013 - Prime Minister, Dr. Hazem El-Biblawy said the Egyptian economy is improving adding there are many indicators, which confirm this fact.

Biblawy referred to the Egyptian Exchange boom compare...
EGX Gains EGP 3.3bn
10/21/2013 - Indices of the Egyptian Exchange (EGX) closed Sunday's session collectively up, backed by wide purchases by investors.

The market capital gained about EGP 3.3 billion. The EGX 30 benchmark ...
Limited Fire of High Dam Transformer Contained
10/23/2013 - A limited fire broke out on 22/10/2013 in one of the power transformers of the High Dam, said press spokesman of the Ministry of Electricity Aktham Abul Ela.

He stated that the fire caused ...
Nile Water Volume Hits 35.6bn Cubic Meters since August
10/26/2013 - The Nile water volume has reached 35.6 billion cubic meters since August, predicting a reserve of over 140 billion cubic meters during the present water year, said Water Resources and Irrigation Minis...
Beblawy: Egypt has Long-Term Strategic Economic Vision
10/27/2013 - Abu Dhabi: Egypt’s Prime Minister Hazem al-Beblawy said Egypt has a strategic economic vision regarding activities and implementation of projects in the long run.

During a meeting here with...
Mansour Reviews with Mamish Securing Navigation in Suez Canal
10/28/2013 - Interim President Adli Mansour received on 27/10/2013 Chairman of the Suez Canal Authority Mohab Mamish.

The meeting reviewed the progress of navigation in the Suez Canal waterway and the m...
Suez Canal Revenues Hit $1.3bn
10/29/2013 - The revenues of the Suez Canal increased by 0.8 per cent to reach about $1.326 billion during the third quarter of the current year 2013 compared with $1.315 in the corresponding period last year 2012...
890 Defaulting Factories for Financial Reasons in Egypt
10/30/2013 - During his meeting with the Egyptian Businessmen Association (EBA), Minister of Industry and Trade Mounir Fakhri Abdul Nour noted that there are about 890 defaulting factories in Egypt due to financia...
IDSC: Rise in Deposits, Foreign Currency Reserves, Suez Canal Revenues
11/1/2013 - According to a recent economic report issued by the Information and Decision Support Center (IDSC) affiliated to the Egyptian Cabinet, the revenues of the Suez Canal increased by 1.9% to reach about $...
Egypt, Ethiopia, Sudan to Hold Fresh Meeting on Nile Dam
11/1/2013 - Minister of Water Resources and Irrigation Mohamed Abdel Muttaleb said that Egypt, Ethiopia and Sudan will hold a new round of talks starting to assess the regional impact of a giant dam being built o...
Bourse Indexes up in October, Market Capital Gains EGP 24.6bn
11/2/2013 - The Egyptian Exchange indexes closed in October up and the market capital gained EGP 24.6 billion to hit EGP 402 billion.

During the course of the month, the benchmark index EGX 30 jumped 9...
Egypt Issues $2bn-bonds to Reimburse Pensions Fund
11/6/2013 - Ministry of Finance Ahmed Galal has issued two governmental bonds worth LE14.2 billion (roughly $2 billion) to pay off part of the treasury's debt to two Egyptian insurance funds, one for public emplo...

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