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Financials and Investment News in Egypt

Egypt Hires German Firm to Bore Transport Tunnels
11/22/2014 - Egypt will use machines made by a German firm to bore at least four tunnels under the Suez Canal, part of an $8 billion project to expand the waterway that the government hopes will raise revenues and...
Egypt's Economic Conference Scheduled for Mar. 13 to 15
11/22/2014 - Egypt's economic conference will be held in the resort city of Sharm el-Sheikh from March 13 to 15 next year, the prime minister announced on Saturday.

Prime Minister Ibrahim Mehleb told a ...
Egypt's Beltone to Issue Bonus Shares, Raise Capital
11/24/2014 - Egypt's Beltone Financial Holding's unveiled a one-for-two stock dividend plan as part of a two-stage capital increase programme of up to 242 million Egyptian pounds ($33.9 million) to fund growth in ...
German Firm to Bore Transport Tunnels under Suez Canal
11/24/2014 - Egypt will use machines made by a German firm to bore at least four tunnels under the Suez Canal, part of an $8 billion project to expand the waterway that the government hopes will raise revenues and...
Central Bank Seen Keeping Rates on Hold
11/26/2014 - Egypt's central bank is expected to keep interest rates on hold on Thursday as inflationary pressure continues to ease and policymakers seek to avoid stifling a nascent economic recovery in the most p...
Ericsson and Mobinil Enhance Network Capabilities
11/27/2014 - Swedish multinational provider of communications, Ericsson has been chosen by Mobinil to enhance the Egyptian telecommunication company’s network providing improved data services to its subscribers.
Egypt Repays Qatar’s Deposit Friday
11/27/2014 - Egypt will pay Qatar back a US$2.5 billion the oil-rich kingdom had deposited at the Central Bank of Egypt under the rule of its ally, deposed Egyptian president Mohamed Morsy.

The CBE ref...
Sisi Wraps up Paris Visit
11/29/2014 - President Abdel Fattah El Sisi visited on Thursday the French National Assembly (parliament) where he met with its President Claude Bartolone, before wrapping up his visit to Paris, said Presidential ...
Islamic Banks Grow But May Miss out on Global Footprint
12/2/2014 - Islamic banking is growing faster than its conventional counterpart but is focused in a few core markets and risks missing an opportunity to build a global footprint, the EY consultancy said in a repo...
Egypt Supports all Efforts for Inter-African Economic Ties
12/6/2014 - Minister of Industry and Trade Mounir Fakhry Abdel-Nour said Egypt stands with all efforts targeting good economic ties among the African countries to achieve sustainable development.

Abdel...
Govt Finishes Subsidy Lifting Scheme Pending Approval
12/7/2014 - The government has concluded a scheme to lift energy subsidies, according to a senior official, but added that it will be left for approval by the parliament expected for election next summer.

...
New Suez Canal Certificates Interest to be Paid, Sunday
12/8/2014 - The first batch of the Suez Canal investment certificates interest will be paid to certificate-holders as of Sunday 7/12/2014, said a well-placed source in the Central Bank of Egypt (CBE).

...
Egypt's Orascom to Sell Assets to Accelero Capital
12/10/2014 - An Orascom subsidiary has approved the sale of 140 million Egyptian pounds (US$19.58 million) of assets to Accelero Capital group, Orascom said on Wednesday.

The sale was approved by the bo...
AWC, NACRS Sign Cooperation Agreement
12/11/2014 - The Arab Water Council (AWC) signed a cooperation agreement with the Tunisia-based North African Center for Remote Sensing (NACRS) to address water problems, which confront the Arab region and improve...
71 Ships Carrying 4.6m Tons Transit Suez Canal Friday
12/13/2014 - Seventy-one ships crossed the Suez Canal on Friday, Mohab Mamish, head of the Suez Canal Authority said.

The ships carried a total cargo of 4.6 million tons, Mamish said in statements Satur...
Egypt will Remain Steadfast in Face of Challenges
12/14/2014 - Commander in Chief of the Armed Forces and Minister of Defense and Military Production Colonel General Sedqi Sobhy said Egypt will remain steadfast in the face of all challenges thanks to strong deter...
Egypt, France Sign €344m Agreement over 3rd Metro Line
12/15/2014 - Minister of International Cooperation Naglaa al-Ahwani and French Ambassador in Cairo Andre Baran signed a €344 million worth loan agreement from the French government to fund the extension of the Cai...
New Power Plant to be Set up in Cooperation with Italy
12/15/2014 - The Egyptian General Petroleum Corporation and the Italian Edison Company inked an agreement for establishing a new power plant for adding 180 megawatts to the national power grid.

The agr...
Sisi Keen on Boosting Egyptian-Russian Relations
12/17/2014 - President Abdel Fattah Al-Sisi has stressed the importance of going ahead in the different spheres of cooperation between Egypt and the Russian Federation.

The President refers to the sign...
CBE Seeks To Control Black Market As Dollar Rises To LE7.82
12/24/2014 - A senior banking source revealed that the Central Bank of Egypt is seeking to control the black market after the dollar rose to LE7.82.

CBE seeks a meeting with the exchange companies to d...

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