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Financials and Investment News in Egypt

EGP 810 million for Developing Cairo-Alex Road
1/11/2014 - The Cabinet Media Advisor Sherif Shawky asserted that the government agreed on allocating EGP 810 million for the completion of the Cairo-Alex desert road.

On the other hand, a source with ...
New Factories Inaugurated in Assiut
1/12/2014 - Deputy Prime Minister Ziad Bahaa El-Din inaugurated a new factory for plastic products in the Safa industrial region of Assiut, one of the largest growing industrial zones in Upper Egypt.

...
Ahmed Galal Announces Application of Value Added Bill
1/14/2014 - At his meeting with members of the Egyptian Tax Society, Minister of Finance Ahmed Galal discussed the details of the bill of the value added tax of the real estate.
He pointed to the econom...
EGX Hits Highest Record in Three Years
1/14/2014 - The Egyptian Exchange (EGX) hit Tuesday its highest record since 2010 as the two-day constitutional referendum started.

The bourse gained 5 billion EGP, upping its market capital to 445.1 b...
16 Plots of Land to be Allocated for Public Interest Projects
1/18/2014 - Minister of Agriculture and Land Reclamation Ayman Abu Hadid approved allocating about 16 plots of land owned by the State to establish projects that would serve the public interest.

The pr...
Cabinet Denies Amending Tax Law of Agricultural Lands
1/18/2014 - The Cabinet has denied media reports that an amendment has been made to the agricultural land taxation law.

In a statement on 17/01/2014, the Cabinet said that the law imposes taxes on the ...
Economic Ministerial Group Agrees to Amend Law on Competition Protection
1/22/2014 - The economic ministerial group in Egypt has agreed to introduce essential amendments to the law on competition protection and monopoly prevention.

The amendments should help upgrade market ...
Fakhry Abdel-Nour: Solving Problems Facing 20 Factories
1/27/2014 - Trade and Industry Minister Mounir Fakhry Abdel-Nour said on 26/1/2014 the ministry was coordinating with the Social Fund for Development (SFD) to solve the problem of some 20 faltering factories manu...
PM, Presidential Adviser Discuss Establishing Egyptian Space Agency
1/27/2014 - Prime Minister Hazem el-Biblawy met on 26/1/2014 with Scientific Adviser to the President Essam Heggi, who briefed the Prime Minister on the current efforts to activate the role of the Higher Council ...
Mounir Fakhry: Government Targets 15% Increase in Exports
1/29/2014 - Trade and Industry Minister Mounir Fakhry Abd el-Nour said the government targets a 15% increase in non-petroleum exports in 2014 in comparison with the previous year.

He added that his min...
Egypt Bourse Gains 25 Billion Dollars
2/1/2014 - The Egyptian Exchange (EGX) gained 25.1 billion dollars pounds in January, reaching about EGP 451.9 billion dollars compared to 426 billion dollars of December. The EGX 30 benchmark index went up by ...
Matrouh, New Valley to Benefit from IMC Low-Cost services
2/1/2014 - The Industrial Modernization Center (IMC), headed by Minister of Industry Mounir Fakhry Abel Nour, decided to include Matrouh and the New Valley on the list of industrial areas in need of growth, acco...
Ashraf el-Arabi: Finance File Tops List of Priorities
2/2/2014 - Planning Minister Ashraf el-Arabi said that the most important files that would top the list of priorities of the ministry is the finance file via donor countries and international organizations, topp...
Industrial Developer Chamber to be Established
2/4/2014 - Chairman of the Federation of Industries Mohamed Al-Suwaidi said that Minister of Industry, Trade and Small Industries Mounir Fakhry Abdel Nour issued a decision to establish the chamber of industrial...
Sisi Discusses with IBM Delegation Promoting Cooperation
2/4/2014 - Presidential spokesman Ambassador Alaa Youssef said President Abdel Fattah Al-Sisi held a meeting on 3/2/2015 with a delegation of IBM Company under Virginia Rometty, the CEO of the company.

...
Egyptian, French Trade Ministers Discuss Enhancing Cooperation
2/5/2014 - Trade and Industry Minister Mounir Fakhri Abdel-Nour held a meeting with French Trade Minister Nicole Bricq to discuss means of enhancing trade cooperation between the two countries.

The tw...
Egypt Ranked 58th Top Exporter to US
2/6/2014 - Egypt ranked 58th on the list of countries that export to the United States in 2013, a report from state-run Egypt Information Portal (EIP) said.

The balance of trade deficit between the tw...
Tax Revenues Hit EGP 121.5 billion by End of January
2/7/2014 - President of the Egyptian Tax Authority Mamdouh Omar has said tax revenues hit EGP 121.5 billion from 1st of July 2013 to the end of January 2014 compared to EGP 110 billion in the same period last ye...
Egypt Foreign Currency Reserves up to $17.104bn in January
2/7/2014 - The Central Bank of Egypt (CBE) said that the country's foreign currency reserves slightly increased by USD 73 million for the first time in five months by 0.42 percent to reach USD 17.104 billion in ...
€205m from EIB to Finance El-shabab Electricity Station
2/10/2014 - Planning and International Cooperation Minister Ashraf el-Arabi and the European Investment Bank (EIB) Vice-President Philippe de Fontaine Vive signed on 9/2/2014 a project-finance agreement with the ...

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