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Financials and Investment News in Egypt

New Medical Complex to be Established in Canal Region
4/25/2014 - Chairman of the Suez Canal Authority Mohab Mamish said that the authority started the establishment of a new medical complex to serve the Canal region.

Speaking during the opening of the fi...
EGX Gains EGP 4.7 billion in two Trading Sessions
4/25/2014 - The Egyptian Stock Exchange (EGX)'s capital market gained about EGP 4.7 billion amid selective activity for the majority of the leading shares in the market.

The EGX30 rose by 2.36% to clos...
Nestlé Opens New Distribution Centre in Egypt's Luxor As Appetite Soars
5/3/2014 - Nestlé S.A., the world's leading nutrition company, has inaugurated on Wednesday a new distribution centre in Egypt's Luxor. The move will help meet growing demand for Nestlé brands across the Upper ...
Cabinet Discusses Desert Hinterland Villages Project
5/5/2014 - The Cabinet held a meeting on 4/5/2014 under Prime Minister Ibrahim Mahlab to discuss the project of desert hinterland villages.

The project aims at developing such villages and providing t...
Egyptian Government Keen on Solving Problems, Increase Investments
5/5/2014 - Prime Minister Ibrahim Mahlab received on 4/5/2014 a delegation of the Kuwait-based Kharafi Group.

During a meeting with the delegation, Mahlab said the government is keen to improve the cl...
Egypt’s Agricultural Development Bank to be Restructured
5/7/2014 - Agriculture Minister Ayman Farid Abu Hadid unveiled plans to restructure the Agricultural Credit and Development Bank with the help of international experts so that it will be able to achieve its main...
Mahlab Hailed Performance of Stock Exchange
5/7/2014 - Prime Minister Ibrahim Mahlab said the government is taking a wide range of measures for the sake of ordinary citizen topped by securing subsidy for the targeted categories.

Inaugurating th...
Mahlab Discusses Bilateral Relations with his Equatorial Guinean Counterpart
5/10/2014 - Prime Minister Ibrahim Mahlab held talks on 09/05/2014 with his Equatorial Guinean counterpart Vicente Tomi on ways to bolster bilateral relations in all fields.

The two sides also reviewed...
Ugandan Cadres to be Trained on how to Hold Rainwater
5/11/2014 - Minister of Irrigation, Dr. Mohamed Abdel Motleb, said that the activities of a training session for 10 technicians from Uganda will start today.

The training course will include designing,...
Citadel Capital Receives Offer to Sell 100% of Sphinx Glass for US$ 112 mn
5/13/2014 - Citadel Capital (CCAP.CA on the Egyptian Exchange), a leading investment company in Africa and the Middle East, has received an offer to sell 100% of non-core portfolio company Sphinx Glass for an equ...
Suez Canal Expected to Make LE37 bn Revenues
5/14/2014 - Chairman of the Suez Canal Authority expected the Suez Canal to make more than LE37 billion in revenues this year.

These revenues are the biggest ever in the Canal's history, Lt. General Mu...
PM Discusses Reducing Budget Deficit in New FY
5/20/2014 - The ministerial economic committee headed by Prime Minister Ibrahim Mahlab discussed on 19/5/2014 a bill on Egypt's general budget.

The committee reviewed ways to reduce the budget deficit ...
First Project to Use Black Sand to Lure Investments worth USD 3 billion
5/24/2014 - A ministerial committee has decided to extend the duration of receiving offers from local and international companies interested in bidding for a project to make use of the black sand in the Delta cit...
Financial Indicators in Egypt have Greatly Improved
5/26/2014 - International Monetary Fund (IMF) official Masoud Ahmed said that financial indicators in Egypt have greatly improved in the recent months after the progress that was made in the political road map an...
Fuel and Electricity Supplies are Available
5/26/2014 - Minister of Petroleum Sherif Ismail said gas is provided in all filling stations to secure citizens needs during the Presidential elections.

Filling stations, fuel tankers and gas stations ...
Egyptian Cabinet Approves Mineral Resources Bill
5/26/2014 - The Cabinet approved on 25/5/2014 a new bill on the mineral wealth.

The bill is meant to protect the rights of new generations and to increase state revenues by adjusting rents and royaltie...
Suez Canal Sets New Vessels and Cargo Record
5/27/2014 - Suez Canal has on 27/5/2014 set a record in the number of vessels and the cargo passing through it, Suez Canal Authority Chairman Mohab Mamish said.

In statements to Al-Tahrir TV channel, M...
Egypt Central Bank Keeps Interest Rates on Hold
5/29/2014 - Egypt's central bank left key interest rates unchanged on Thursday, a day after Egyptians voted to elect former army chief Abdel Fattah El-Sisi as president, as it tries to balance growth and inflatio...
UK Secretary of Business to Visit Egypt in October
5/31/2014 - The UK Secretary of Business is expected to visit Egypt in October accompanied by a delegation of investors and business officials.

Chairman of the Egyptian-British Business Association Sam...
Egyptian Economy will not Depend on Aid
6/1/2014 - Minister of Finance, Hani Qadri said that no economic action has been taken before social justice was taken into consideration.
br> He added that Egypt will not develop its economic policy dep...

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