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Financials and Investment News in Egypt

Egypt Increases Tariffs on Range of Imports
1/31/2016 - Egypt has raised tariff rates on a wide range of imports, the official Gazette said on Sunday, the latest effort by the authorities to curb dollar spending on imports as the country struggles through ...
Fund Board Meeting, 'Tahya Masr' headed by Sherif Ismail
1/31/2016 - The Prime Minister during the meeting of the board of directors of the fund ' Tahya Masr': The implementation of the project of providing small trucks with 'refrigerator' for young people for use in...
Russian Industrial Zone to Cover 2 Square km in Port Said
2/1/2016 - The Russian industrial zone under discussion between Egypt and Russia will be built over 2 square kilometers near the coastal city of Port Said, the Egyptian official in charge said.

“The tar...
Russia, Egypt to Sign Memorandum on Supply of Four SSJ100 Planes
2/2/2016 - Moscow and Cairo will sign a memorandum for the delivery of four SSJ100 passenger planes to Egypt, Russian Trade Minister Denis Manturov, said.

The deal includes an option for the purchase of...
Sisi, Czech FM Discuss Promoting Economic Cooperation
2/2/2016 - President Abdel Fattah El Sisi held a meeting with Czech Foreign Minister Lubomir Zaoralek to discuss promoting cooperation in all fields, said Spokesman for the Presidency Alaa Yousef. Both ?Egypt's ...
Reef Co. Starts Preparations for Developing Egypt’s Countryside
2/2/2016 - Prime Minister Sherif Ismail attended the first founding assembly meeting of Reef Company that is responsible for reclaiming 1.5 million feddans in Egypt's new countryside.

The capital of the...
Russian Industrial Zone in Port Said Start Operations in 2016-2017
2/3/2016 - A Russian industrial zone planned to be established in eastern Port Said can start operations in 2016-2017, Egyptian Industry Minister Tarek Qabil said .

The minister added that the Russian-E...
Ahmed Darwish Tours Ismailia Development Projects
2/3/2016 - Head of the General Authority for Suez Canal Economic Zone (SCEZ) Ahmed Darwish inspected development projects in Ismailia.

Darwish toured the Technology Valley project's area and Al Amal di...
Egypt's non-oil Business Slows for Fourth Straight Month
2/3/2016 - Business activity in Egypt shrank for the fourth straight month in January, a survey showed, as new export orders tumbled and output declined for the fourth time in as many months.

Egypt has ...
Sherif Ismail Met The Italy Economic Delegation
2/3/2016 - Engineer Sherif Ismail, chairman of the Council of Ministers, met the Italy economic Delegation under the chairmanship of the Minister of economic development, the meeting was attended by Minister of ...
Egypt, Russia Seal Three MoUs on Cooperation
2/3/2016 - Egypt and Russian signed three memoranda of understanding on launching an industrial area in Egypt, joint investment and export of up to 50 civilian Sukhoi aircraft to Egypt.

A final agreeme...
Banque Misr Set for $100 mn China Development Bank Loan
2/4/2016 - Egypt's second-largest state lender, Banque Misr, expects to receive a $100 million loan from China Development Bank in February to finance small and medium enterprises, its chairman told Reuters in a...
Ashraf el Araby,Estonian Ambassador Discuss Cooperation
2/6/2016 - Planning Minister Ashraf el Araby discussed with Estonian Ambassador to Egypt Sander Soone possible means to boost cooperation between the two countries.

tatement, Araby said that their meeti...
Sherif Ismail National Debt in Safe Position
2/6/2016 - Prime Minister Sherif Ismail said his government will fulfill its promises to achieve a breakthrough in the Egyptians’ standard of living in a year and half.

He said the volume of foreign deb...
Sisi Allocates 1L.E bn to Build 100,00 Economic Housing Units
2/6/2016 - President Abdel Fattah El Sisi has ordered the construction of another 100,000 economic housing units to meet public needs by allocating one billion Egyptian pounds from "Long Live Egypt" fund for the...
Egypt's Central Bank Receives $900 mln from China
2/8/2016 - Egypt's central bank has received US$900 million from the China Development Bank under a $1 billion financing agreement signed, Central Bank Governor Tarek Amer said.

The $900 million will...
National Bank of Egypt Drops Bid to Buy CI Capital
2/9/2016 - National Bank of Egypt's investment banking arm said it has dropped its bid to buy CI Capital, the investment arm of Commercial International Bank (CIB) after failing to agree on a timeframe to comple...
Egypt Cancels Temporary Tariff on Sugar Imports
2/9/2016 - Egypt is cancelling a temporary tariff levied on sugar imports in 2015 after completing an investigation into possible dumping of the commodity, the Trade Ministry said.

Egypt said in Apri...
Egypt's Non-oil Exports Down 16.5 pct in 2015
2/9/2016 - Egypt’s non-petroleum exports saw a 16.5 percent drop in value during 2015 compared to the previous year, state news agency MENA said.

Last year, the exports generated $18.6 billion in rev...
Egypt, Greece Discuss Tourism Cooperation
2/11/2016 - Tourism Minister Hesham Zaazoua met with Greek Ambassador to Egypt Chris Lazaris.

They discussed ways of boosting tourism cooperation between the two countries, and preparations for the visit...

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