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Financials and Investment News in Egypt

Darwish Reviews Suez Canal Opportunities with US Delegation
2/11/2016 - Suez Canal Economic Zone Authority Chairman Ahmed Darwish met David Thorne, Senior Advisor to the US Secretary of State, who is leading a delegation on a visit to Egypt.

The meeting tackled o...
CBE Injected $14 bln in Three Months to Ease Dollar Crunch
2/12/2016 - Egypt's central bank has injected over $14 billion dollars into local banks over the past three months to facilitate import activity and curb inflation on essential goods, a government statement said....
Khaled Hanafy Purchases 60,000 Tons of Wheat from Romania
2/13/2016 - The Domestic Trade and Supply Ministry signed a contract to purchase 60,000 tons of wheat from Romania through an international tender at US$190.88 per ton.

Importing will start on 10 March ...
Egypt’s Ambassador meets with Indian Industry Minister
2/13/2016 - Egypt's Ambassador in New Delhi Hatem Tag Eddin has met with Indian Commerce and Industry Minister Nirmala Sitharaman to discuss India's participation in a forum on the investment in Africa that will ...
Egypt: upgrading Railway Sector needs EGP 90bn
2/13/2016 - The Transport Ministry needs EGP 90 billion to upgrade the railways sector and improve the deteriorating railway services, the Transport Ministry spokesman said.

In statements on Thursday, Ah...
Red Sea Tourism Slump Brings 80% Drop in Tourism Tax Revenues
2/14/2016 - The slowdown in tourism in the Red Sea governorate has resulted in an 80 percent drop in tourism-related tax revenues in the governorate, according to a tax official.

The decline in tax reven...
Sisi: Egypt Keen to Promote Cooperation with AfDB
2/15/2016 - President Abdel Fattah El Sisi said that Egypt is looking forward to promoting cooperation with the African Development Bank Group (AfDB) and explore more programs and projects that can be funded by t...
CIB Accepts Sawiris's Bid to Buy CI Capital
2/15/2016 - The Egyptian stock market's benchmark index EGX 30 rose by around 0.95 percent, reaching 5,808 points in the first 15 minutes of trade.

The index for small and medium shares EGX 70 also inch...
Egypt Energy Investment Summit in Cairo
2/15/2016 - Egypt hosts the Egypt Energy Investment Summit on February 16-18, 2016 under the auspices of government officials and authorities.

The Summit will bring together the world's leading power dev...
Russian Wheat Export Prices Slide on Egypt Policy Worries
2/16/2016 - Russian wheat export prices fell last week, hit by concerns about future supply contracts to world No. 1 importer Egypt, analysts said.

Black Sea prices for Russian wheat with 12.5 percent...
Kuwait, Egypt Sign Four Cooperation Agreements
2/16/2016 - Kuwait and Egypt signed four agreement that would promote coopration in different domains.

The two countries signed an agreement on cultural and technical cooperation, a memorandum of unders...
CBE Raises Dollar Bank Deposit Limit for Exporters
2/16/2016 - Central Bank of Egypt (CBE) raised the dollar bank deposit limit for exporting companies to $1 million a month, according to a statement issued.

The sum of deposits, in dollar or other foreig...
Egypt to Purchase 10 Superjet Passenger Planes from Russia
2/17/2016 - An Egyptian airline is expected to sign a contract with Russia’s Sukhoi Civil Aircraft Company (CJSC) next month for 10 Superjet 100 short-haul passenger planes, Sputnik reported.

"I think th...
Siemens Ships Two Gas Turbines to Egypt
2/17/2016 - German industrial conglomerate Siemens will begin shipping the first two gas turbines to be installed by mid-May in Egypt's Beni Suef power plant, said the company in an e-mailed press release.
Egypt, Japan Set Final Preparations for Sisi’s Tokyo Visit
2/18/2016 - International Cooperation Minister Sahar Nasr met the Japanese Ambassador to Egypt Takahiro Kagawa to discuss the final preparations of President Abdel Fattah El Sisi's visit of Tokyo.

The...
Egypt to Double Underground Metro Ticket Price
2/19/2016 - Egypt’s transportation ministry will double the price of Cairo's metro tickets to EGP 2 ($0.26) in an attempt to offset annual losses, estimated at EGP 250 million ($32 million), a spokesman said.
...
Egypt: Africa Markets Golden Opportunity for Small, Medium Exports
2/20/2016 - Finance Minister Hani Demian said Egyptian exports have a great opportunity to tap the African market which has a large population.

In statements to MENA on the fringe of the African Business...
Egypt, Gabon Sign 5 Cooperation Protocols
2/20/2016 - President Abdel Fattah El Sisi and his Gabonese counterpart Ali Bongo Ondimba attended the signing ceremony of five cooperation protocols and memorandums of understanding in the political consultation...
Sherif Ismail, Schneider Electric CEO Discuss Cooperation
2/20/2016 - On the sidelines of his participation in the African Forum of trade and investment held in the city of Sharm el-Sheikh, PM Sherif Ismail met with Mr. Albert Fulcher, the managing director of Schneider...
CBE Signs $500mn Trade Facility Agreement with Afreximbank
2/20/2016 - The Central Bank of Egypt (CBE) signed a $500 million trade finance facility agreement with the African Export-Import Bank (Afreximbank) to allow Egyptian importers to buy strategic and key industrial...

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