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Financials and Investment News in Egypt

Egyptian Govt to Fight Goods Smuggling
9/1/2014 - Prime Minister Ibrahim Mahlab said on 31/8/2014 that the government is pressing ahead with combating corruption and goods smuggling.

These practices are harming national goods, said Mahlab....
Initiative to Eliminate Dollar Dealings on Black Market Launched
9/2/2014 - Governor of the Central Bank of Egypt (CBE) Hisham Ramez launched an initiative to eliminate the dealings of dollar on the black market.

As for the economic situation, Ramez said the CBE ha...
Egypt Keeps Interest Rates Unchanged
9/2/2014 - The Central Bank of Egypt (CBE) kept the overnight deposit rate, overnight lending rate and the rate of the bank's main operation unchanged at 9.25 per cent, 10.25 per cent and 9.75 per cent, respecti...
Mega Projects may Shore up Egypt's Ailing Economy
9/3/2014 - Egyptians hope the national economy will witness recovery in the coming few years amid experts' forecast that planned mega projects will boost such positive outlook The World Bank forecast a 2.7 perce...
Egyptian Government to Receive more than LE80 bn from Local Banks
9/5/2014 - The government will seek US$11.2 billion in loans during this month after expectations that fuel price hikes are to increase inflation rates to more than 10 percent.

The Finance Ministry de...
Egypt-UAE Alliance to Launch Logistical Projects, Commodities Bourses
9/6/2014 - Minister of Supply and Internal Trade Khaled Hanafy held a meeting on 05/09/2014 with CEO of a leading UAE company for talks on joint projects in Egypt.

The minister said he agreed with the...
Egypt Crops Exports to Russia to Offset Ban on EU Imports
9/6/2014 - Agriculture Minister Adel al-Beltagy said Saturday Egypt had agreed with Russia to operate regular, fast maritime lines carrying Egyptian agricultural exports to Russia as part of a common plan agreed...
Egypt's El-Sisi Forms Advisory Council of Experts
9/6/2014 - Egyptian President Abdel-Fattah El-Sisi issued a decree forming a presidential advisory council made up of academics and experts, Aswat Masriya reported.

El-SIsi held an initial meeting wi...
New Bill Prioritizing Locally-Produced Products Approved in Principle
9/6/2014 - The Cabinet approved in principle a new bill that gives the priority to locally-produced products in government purchases, Minister of Trade and Industry Mounir Fakhry Abdel-Nour said on 05/09/2014.
20 Percent Increase in Container Traffic in 2014
9/8/2014 - An official report has monitored a 20 percent increase in the container traffic of Egyptian ports in 2014 compared to last year.

The report pointed out that the container terminal of the East...
Stock Market Loses LE2.2 Bn
9/8/2014 - Stock indices recorded collective declines at the end of Monday’s trading, affected by the selling of Arab funds and corporations as well as that of Egyptian investors, while foreign funds and corpora...
Egypt, Norway Discuss Developing Economic Cooperation, Increasing Investments
9/10/2014 - Foreign Minister Sameh Shoukry held talks with his Norwegian counterpart Borge Brende on developing economic and trade cooperation and increasing investments, Foreign Ministry spokesman Badr Abdel Aat...
Ashraf Salman Meets Huawei Official in China
9/13/2014 - Investment Minister Ashraf Salman, on a visit to China, held a meeting with a senior official at Huawei Company.

Huawei is a global information and communication technology company that has...
Egypt Keen on Promoting Cooperation with Russia in All fields
9/13/2014 - Minister of Trade and Industry Mounir Fakhry Abdel-Nour has underlined Egypt's keenness on furthering cooperation with Russia in all fields.

"The forthcoming period will witness the advance...
Industry Minister Conveys Verbal Message from Sisi to Putin
9/17/2014 - On a visit to Russia, Industry and Trade Minister Mounir Fakhri Abdel-Nour conveyed a verbal message from President Abdel-Fattah El Sisi to Russia's Valdimir Putin.

At a meeting with Putin'...
President Announces Egypt’s Cconomic Program before UNGA
9/17/2014 - Speaking at the Euromoney’s Egypt Conference on 16/9/2014, Investment Minister Ashraf Salman said that President Abdel Fattah al-Sisi would announce Egypt's economic program for the coming 4 years be...
Egyptian Govt to Form Body for the Development and Use of New Energy
9/17/2014 - The Cabinet has passed a draft resolution to form a body for the development and use of new and renewable energy.

The new body, which would report directly to the minister of electricity a...
Sisi Orders Developing Poorest Villages
9/18/2014 - Local Development Minister Adel Labib said on 17/9/2014 President Abdel Fatah al-Sisi has tasked the government and ministries with developing the country's poorest villages.

The minister m...
Egypt must Cut Red Tape to Win Investors in Second Suez Canal: Law Firm
9/19/2014 - Egypt's central bank governor told Reuters it had taken just eight days to raise the $8.5 billion needed to fund the project.

The Suez Canal is the shortest shipping route between Europe an...
Petroleum Minister Urges Developing Resources
9/20/2014 - Minister of Petroleum and Mineral Wealth Eng. Sherif Ismail has chaired a meeting of the board of directors of the Egyptian General Petroleum Corporation to discuss and approve its plan and outcome of...

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