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Financials and Investment News in Egypt

Bourse in Progress
11/10/2013 - Indices of the Egyptian Exchange (EGX) were up at the close of trading of backed by wide purchases by investors.

The market capital gained about 3.2 billion EGP, hitting 396.2 billion EGP, ...
Egypt to Finalize Tender to Develop Suez Canal
11/11/2013 - Egypt will finalize a tender for the development of the Suez Canal by the end of November 2013, the Egyptian Minister of Investment Dr. Osama Saleh announced in his keynote speech at Euromoney’s 19th ...
Largest Ferry in Suez Canal at Cost of LE 25 million
11/13/2013 - Chairman of the Suez Canal Authority Mohab Mamish announced that the authority inaugurated the largest ferry in Port Tawfiq in the Suez Canal at cost of LE 25 million.

He pointed out that t...
Hazem el-Beblawy Discusses Project to Make Use of Black Sand
11/18/2013 - Prime Minister Hazem el-Beblawy held a meeting on 17/11/2013 to discuss a project to make use of black sand.

The meeting, attended by a host of ministers and officials, discussed studies r...
USD 13.8 billion Remittances by Egyptians Abroad
11/22/2013 - The financial position of Banks, other than the Central Bank of Egypt, has increased by EGP216.6 billion, equaling an increase of 15.9%, in July-March 2012/2013 to record one trillion and 582 billion ...
"EGX" Losses LE4.8bn, Index down by 1.75%
11/27/2013 - The Egyptian Stock Exchange (EGX) lost some LE4.8 billion at the end of trading on the back of profit-taking operations.

The main benchmark EGX 30 index went down by 1.75 percent reaching 6...
WB Boosts Number of its Experts Offering Aid to Egypt
11/28/2013 - The World Bank (WB) has boosted the number of its experts in charge of offering technical support to Egyptian programs and projects in view of the bank's support for the Egyptian government and its so...
Bahaa Eddin Heads to London to Discuss Cooperation with EBRD
12/1/2013 - Egypt's Deputy Prime Minister and Minister of State for International Cooperation Ziad Bahaa Eddin left here on a two-day visit to London to discuss cooperation with officials of the European Bank for...
Egypt Bourse Indexes Collectively up
12/6/2013 - The Egyptian Exchange (EGX) indexes went up during the past week. The EGX 30 benchmark index rose by 2.39 percent to close at 632 points.

The broader EGX 70 index of the leading smaller and...
New Programs to Support Exports to be Implemented as of January
12/7/2013 - Abla Abdul Latif, the economic advisor to the Minister of Industry and Trade Mounir Fakhri Abdul Nour, asserted that the new standards of programs to support exports would be implemented as of January...
Gov’t Seeks Reforming Major Companies, Maintain Workers’ Rights
12/22/2013 - Prime Minister Hazem el-Biblawy said the citizens will not afford any new economic burdens in 2014 and that there is a plan to rationalize subsidy except for the prices of butane gas cylinders, benzen...
Egypt Achieved Self-Sufficiency in Poultry
12/24/2013 - Agricultural Minister Ayman Farid Abo Hadid said on 23/12/2013 that Egypt achieved self-sufficiency in poultry and eggs, stressing that his ministry is seeking to bridge the gap between production an...
AFESD Approves Funding Egypt - Saudi Arabia Power Linkage
12/24/2013 - Deputy Prime Minister and International Cooperation Minister Ziad Bahaa el-Din announced that the board of directors of the Arab Fund for Economic and Social Development (AFESD) has approved providing...
49 Vessels Transit Suez Canal
12/30/2013 - Forty-nine ships transited the Suez Canal on 29/12/2013, carrying a total cargo of 2.4 million tons.

The north-bound convoy included 28 ships, carrying 1.3 million tons, while the south-bou...
Hazem el-Beblawy Discusses Black Sands Project
1/3/2014 - Prime Minister Hazem el-Beblawy held on 02/01/2014 a meeting to discuss a project of maximizing benefits from black sands in Borolus area, Kafr el-Sheikh.

The meeting comes within the frame...
New Bill to Register Unlicensed Properties in New Cities Drafted
1/3/2014 - Minister of International Cooperation and Prime Minister Deputy Ziad Bahaa El-Din announced on 02/01/2014 that a bill to officially register unlicensed properties in the new cities was drafted.
Egyptian Finance Ministry Auctions EGP 6 billion T-bills
1/3/2014 - The Ministry of Finance on 02/01/2014 auctioned treasury bills at a total value of EGP 6 billion.

In statements, the ministry said it sold EGP 2.5 billion of 182-day T-bills with a 1.91 bid...
Munir Fakhri Reviews with Businessmen Outcome of WTO Conference
1/5/2014 - Minister of Trade and Industry Munir Fakhri Abdel Nour will review on 5/1/2014 with business unions and organizations the outcome of the ministerial conference of the World Trade Organization (WTO) he...
Egyptian Economy Ready for Kick-Start
1/9/2014 - Minister of Finance Ahmad Galal said Egypt has been passing through an interim stage since January 2011, noting that the Egyptian economy is now ready to kick-start.

In a statement on 7/1/2...
Foreign Currency Reserves "Safe", 14% Increase in Deposits
1/9/2014 - Minister of Finance Ahmed Galal said that the foreign currency reserves are safe and exceed $17 billion in the Central Bank of Egypt (CBE), adding that the reserves would cover Egypt's imports for thr...

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