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Financials and Investment News in Egypt

Germany to Loan Egypt 4.1 Bn Euros for Electricity
11/15/2015 - German credit insurance agency Euler Hermes will underwrite a 4.1 billion euro loan to Egypt from a consortium of German banks for electricity production undertakings to be constructed by Siemens, the...
Egyptian Embassy in UAE Sponsors Initiative to Promote Tourism
11/17/2015 - The Egyptian Embassy in the United Arab Emirates (UAE) has sponsored an initiative entitled “Support Your Country's Tourism” aiming at backing the Egyptian tourism, said Assistant Foreign Minister for...
EBRD Finances Damanhour Power Plant
11/17/2015 - International Cooperation Minister Sahar Nasr signed a US$200 million agreement with the European Bank for Reconstruction and Development (EBRD) on Tuesday to finance the Damanhour power plant.
Egypt's Trade Deficit Down 26% in August 2015
11/18/2015 - Egypt's trade deficit fell 26 percent to LE27.9 billion in August of 2015 down from LE37.5 billion in the same month last year.

The trade deficit fell despite a drop in Egyptian exports due...
Egypt, China Sign $ 31.5 m Grant Agreement
11/19/2015 - Egypt and China signed a grant agreement worth around $ 31.5 million to finance bilateral technical and economic cooperation projects.

The agreement was signed by Minister of International...
Egypt Expects to Receive $1.5 Bln Loans From WB before 2015 End
11/19/2015 - The World Bank expects to make a $1 billion development policy loan available to Egypt in December if all goes to plan after completing negotiations in Cairo, a senior World Bank official said.
Egypt’s Trade Ministry to enforce new system to support exports
11/21/2015 - The Trade and Industry Ministry announced that a new program for supporting exports will come into force.

The new scheme will consider the needs of the export sectors and cope up with the c...
Sisi Asserts Importance of Trade, Industry for National Economy
11/23/2015 - President Abdel Fattah El-Sisi asserted the importance of industry and trade as key foundations of the national economy.

In addition to their economic benefits, they contribute to achieving...
Egypt to Control Prices of 10 Commodities as Inflation Rises
11/24/2015 - Egypt will control the prices of 10 essential commodities, a statement from the Prime Minister's office said, as the country tries to keep inflation in check amid a shortage of foreign currency.
Sisi Establishes Economic Zone around Egypt's Suez Canal
11/24/2015 - President Abdel Fattah el-Sisi issued a decree establishing an economic zone for Egypt's Suez Canal, the country's state news agency said Egypt inaugurated a major extension of the Suez Canal last wee...
Egypt returns ex-governor Okda to central bank fold
11/26/2015 - Egypt has appointed ex-central bank governor Farouk al-Okda to a high-level committee at the central bank as part of a reshuffle analysts say is aimed at helping steer the country out of a foreign exc...
Egypt’s Exports to Nile Basin Countries hit $96.2m in August 2015
11/28/2015 - The Central Agency for Public Mobilization and Statistics (CAPMAS) said on Saturday 28/11/2015 that Egypt's exports to the Nile Basin countries during August reached USD 96.154 million up from USD 83....
SCA Signs Deal with DP World for Ain Sokhna Sea Port Development
11/28/2015 - Egypt’s Suez Canal Authority (SCA) and the Red Sea Ports Authority signed an agreement with Dubai Ports World and Sonker Bunkering Company for the development of Egypt’s Ain Sokhna seaport.

...
Hotel occupancy Rate in Luxor up to 43%
12/2/2015 - The percentage of hotel occupancy rate in Luxor increased to 43% by 2205 foreign tourists and 1604 Egyptians, Head of tourism and antiquities police Hosni Hussein said.

As many as 641 touri...
EBRD allocates $170m to improve safety measures in Egypt's energy sector
12/4/2015 - The European Bank for Reconstruction and Development (EBRD) arranged a syndicated loan, consisting of a loan facility of up to US$170 million to strengthen safety and environmental standards in Egypt'...
PM Discusses with China President Development Efforts
12/5/2015 - Prime Minister Sherif Ismail delivered greetings of President Abdel Fattah el Sisi to Chinese President Xi Jinping during their meeting on the sidelines of the Chinese-African cooperation forum in Joh...
Egypt Lifts 2015-2016 GDP Growth Forecast
12/5/2015 - Egypt revised its GDP target for the current fiscal year to 5.5 percent from 5 percent on Saturday and said its economy grew at 4.2 percent in the 2014/2015 fiscal year, up from 2.2 percent the previo...
Egypt Looks to Increase Exports to Russia
12/5/2015 - Egypt is looking to increase exports to Russia by 15 percent in the coming year, eyeing an opportunity to take advantage of Russian restrictions on Turkish imports, an Egyptian ministry of trade offic...
Egypt, Tunisia Seek Enhancing Political, Economic Cooperation
12/6/2015 - Egyptian Ambassador in Tunis Ayman Mosharafa said that Egypt and Tunisia are working for developing political, diplomatic, cultural and trade cooperation.

Mosharafa said the Egyptian cultur...
Economic Ministerial Meeting Chaired by Egypt’s Prime Minister
12/7/2015 - Engineer Sherif Ismail, chairman of the Council of Ministers convened a meeting of the economic ministerial group, in the presence of the governor of the central bank and discussed a number of topics,...

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