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Financials and Investment News in Egypt

Suspended Projects in Governorates to be Completed
3/21/2015 - Local Development Minister Adel Labib issued directives for governorates to make a comprehensive list of suspended projects in all governorates in order to remove any difficulty before completing the...
CBE: Balance of Payments Deficit Result of Repayment of Foreign Obligations
3/22/2015 - Over the first half of 2014/2015 fiscal yaer, Egypt's balance of payments ran an overall deficit of one billion dollars against a surplus of about two billion dollars in the same period the previous y...
Egypt, Kenya to Sign Water Agreement
3/23/2015 - The Ministry of Water Resources said Egypt and Kenya will sign a memorandum of understanding worth 5.5 million dollars (around 40 million pounds) for boosting bilateral water cooperation, the ministry...
Matrouh could be a Major Business Hub
3/25/2015 - Prime Minister Ibrahim Mahlab wrapped up on 24/3/2015 a visit to Matrouh governorate.

During his two-day visit, the premier met with top officials and was posted on the business opportuniti...
Egypt Providing Military Support for Gulf Arab Operation in Yemen
3/26/2015 - Egypt is providing political and military support for an operation launched by Saudi Arabia and its Gulf Arab allies against Houthi fighters in Yemen, the state news agency said.

It quoted ...
Hany Qadry: We Target 4.5% Growth Rate
3/27/2015 - Finance Minister Hany Qadry said that the results of the economic reforms will take time to be touched.

During a press conference that was held on the budget of the 2015-2016 fiscal year, Q...
94.8% of Dry Digging at New Suez Canal Completed
3/27/2015 - About 94.8 percent of the dry digging at the new Suez Canal has been accomplished since the project launch.

Up to 218 million cubic meters of digging have been completed so far in the Suez ...
Egypt, Germany Prepare for Joint Summit
3/27/2015 - Chairman of the Christian Democratic Union/Christian Social Union Group in the Bundestag of Germany Volker Kaude will arrive in Cairo this week.

The German official will meet with President...
UAE, Comoros Sign Agreements on Economic Cooperation
3/27/2015 - UAE Foreign Minister HH Sheikh Abdullah bin Zayed Al Nahyan and El-Anrif Said Hassane, Minister of External Relations and Cooperation of the Union of Comoros, have signed a series of agreements on the...
No Development in Africa without Peace
3/30/2015 - Egyptian Prime Minister Ibrahim Mahlab stressed that achieving peace and security is inevitable for bringing about economic development and prosperity in the African continent.

"Without pea...
Poor People will not Bear Reform Burdens
3/30/2015 - Finance Minister Hani Qadri said that the government adopts financial policies that depend on redistributing the fruits of economic reform and growth in favor of the low income and marginalized people...
Egypt’s Role Crucial in Protecting Arab National Security
3/30/2015 - Egypt's role is "crucial" in protecting Arab and national security, said Egypt's Mufti Shawki Allam.

In a released statement, Allam said that the region is confronting a fierce sectarian sc...
Egypt, Sudan, Ethiopia to Name Renaissance Dam Consultancy Office
3/30/2015 - Water Resources and Irrigation Minister Hosam Moghazi said on 29/3/2015 that Egypt, Sudan and Ethiopia will meet soon to name the international consultancy office that will complete technical studies ...
Mahlab Meets Mamish, Briefed on Progress of Canal Project
4/2/2015 - Prime Minister Ibrahim Mahlab met on 1/4/2015 the Head of the Suez Canal Authority Mohab Mamish.

During the meeting, Mamish briefed the premiere on the work progress at the new canal projec...
Sisi Orders Launching Global marketing Campaign for Suez Canal Projects
4/2/2015 - President Abdel Fattah Al-Sisi has ordered the launch of an international marketing campaign for the new Suez Canal project.

During a meeting on 1/4/2015 with Head of the Suez Canal Authori...
Egypt’s Foreign Debt down to USD 41.3 billion
4/3/2015 - The volume of domestic liquidity in Egypt’s market rose by EGP 110.9 billion or 7.3% to reach EGP 1.627.5 trillion in the period between July and January of the 2014-2015 fiscal year, the Central Bank...
Ashraf Salman: Seeking Best Wording Causes Delay in Executive Rule of Taxation Law
4/3/2015 - Investment Minister Ashraf Salman said that the real reason behind the delay in executive rule of the tax law is seeking best wording.

During a press conference at the Egyptian Stock Exchan...
Mostafa Madbouli: 40% of Water Works in Hot Areas Completed
4/3/2015 - Housing Minister Mostafa Madbouli said on 2/4/2015 that 40 percent of water works projects in hot areas suffering from water crises in summer were completed.

The minister added that the wat...
58 Ships Transit Suez Canal
4/3/2015 - Chairman of the Suez Canal Authority (SCA) Mohab Mamish said that 58 ships crossed the Suez Canal on 2/4/2015, carrying a total cargo of 4.2 million tons.

Mamish pointed out that the south-...
EGX Chairman Highlights Listing of New Companies on Stock Market
4/3/2015 - Chairman of the Egyptian Exchange (EGX) Mohamed Omran lauded on Thursday the role played by the EGX administration to list new companies on the stock market.

"This comes as part of EGX's ef...

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