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Financials and Investment News in Egypt

Egypt's Central Bank Strengthens Pound Against Dollar
3/17/2016 - The Egyptian pound was strengthened against the US dollar at an exceptional auction held by the Central Bank of Egypt, a senior CBE official said.

The CBE offered to sell $1.5 billion to bank...
Egypt, Japanese Company Seek Activating Electricity MoUs
3/18/2016 - Electricity Minister Mohamed Shaker met with a delegation of Japanese Toyota Tsusho Company, the trading arm of the Toyota Group, to discuss means of activating memos of understanding signed during Pr...
Egypt, ARADO Discuss Promoting Cooperation
3/18/2016 - Minister of Planning Ashraf el Arabi held a meeting with director of Arab Administrative Development Organization (ARADO) to discuss promoting cooperation, said a statement.

The meeting came ...
Egypt, EBRD to Draft New Cooperation Strategy
Egypt, EBRD to Draft New Cooperation Strategy 3/18/2016 - International Cooperation Minister Sahar Nasr received Director for Egypt of the European Bank for Reconstruction and Development (EBRD) Philip ter Woort for talks on starting preparing a cooperation ...
46 Ships Transit Suez Canal
3/18/2016 - Forty-six ships transited the Suez Canal in both directions, carrying a total cargo of 2.7 million tons.

The south-bound convoy included 16 vessels, carrying about 800 thousand million tons, ...
Darwish urges IT Companies to Invest in SCZone
Darwish urges IT Companies to Invest in SCZone 3/18/2016 - Chairman of the Suez Canal Special Economic Zone (SCZone) Ahmed Darwish urged the IT companies to invest in the SCZone.

During a meeting with representatives of several local and internationa...
Moody's:Pound Devaluation is Credit Positive for Egypt
3/18/2016 - The recent decision by the Central Bank of Egypt (CBE) to adopt a flexible exchange rate has been remarked as credit positive for Egypt to remain stable at B3, Moody’s Investors Services stated.
Saudi Arabia, Egypt Hold Coordination Council Meeting
3/20/2016 - Saudi Arabia and Egypt will hold a meeting of the joint coordination council.

Egypt's Ambassador in Riyadh Nasser Hamdy said the meeting will prepare agreements that will be signed by Preside...
Egypt Participates in India-Africa Project Partnership Forum
3/20/2016 - An Egyptian delegation of the General Authority for Investment and Free zones and Trade and Industry Ministry participated in the 11th forum of India-Africa Project Partnership held in New Delhi.
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Saudi Arabia, Egypt Ink Several Finance, Investment Pacts
3/20/2016 - Saudi Arabia and Egypt signed a number of agreements and memoranda of understanding for cooperation in various domains, particularly finance and investments.

In a press statement following t...
Alstom Signed Contract for The Extension of Cairo Metro Line 1
3/20/2016 - Alstom signed a contract with the National Authority for Tunnels (NAT) for the extension of Cairo Metro Line 1 from the El-Marg to New El-Marg station. Alstom’s share of the contract is worth €12 mill...
Salman: Easing Investment Measures to Lure Saudi Businessmen
3/21/2016 - Investment Minister Ashraf Salman said that Egypt will provide various incentives to lure Saudi businessmen to invest in Egypt in the coming period.

The minister made the statements after sig...
Egypt Signs $1.5 bln Sinai Development Deal with Saudi Arabia
Egypt Signs $1.5 bln Sinai Development Deal with Saudi Arabia 3/21/2016 - Egypt signed a deal with the Saudi Development Fund worth $1.5 billion to finance development projects in Sinai, during the fifth meeting of the Egyptian-Saudi coordination council in Riyadh , accordi...
Egypt, Germany Discuss Economic Cooperation
Egypt, Germany Discuss Economic Cooperation 3/21/2016 - Trade and Industry Minister Tarek Qabil received Stefan Rudolph the German Minister of Economy, Tourism and Labor in Mecklenburg State.

During the meeting, they discussed ways to boost bilat...
Fitch Praises Egyptian Pound Devaluation, Warns of High Inflation
3/21/2016 - US-based credit rating agency, Fitch, found the devaluation of the Egyptian pound last week as credit positive but warns of higher inflation.

Last week the Central Bank of Egypt (CBE) devalue...
Egypt: GAFI Official, Iraqi Investors Meet in Amman
3/22/2016 - Director of the Middle East department at Egypt's General Authority for Investment Mounir Gomaa held a meeting with the Iraqi Business Council in Amman to discuss means of promoting investment and eco...
38 Vessels Cross Suez Canal
3/22/2016 - Thirty-eight ships transited the Suez Canal, with a total cargo of 2.9 million tons.

The south-bound convoy included 21 vessels carrying 994.000 tons, while the north-bound convoy included 17...
Sherif Ismail Met World Bank Vice President for The Middle East and North Africa
3/22/2016 - Engineer Sherif Ismail, chairman of the Council of Ministers, met Dr. Hafez Ghanem, the World Bank vice president for the Middle East and North Africa. Dr. Sahar Nasr, minister of international cooper...
Saad el Gioushy Witness Start of Digging 4th Phase of Cairo’s 3rd Metro Line
3/23/2016 - Transport Minister Saad el Gioushy and French Ambassador to Egypt Andre Parant witnessed the start of the digging works of a new underground phase.

The 5.15-kilometer of the fourth phase of t...
Tarek Qabil: Terror Combat Necessary for Economic Development
Tarek Qabil: Terror Combat Necessary for Economic Development 3/24/2016 - Minister of Trade and Industry Tareq Qabil has called for stepping up efforts of combating terrorism and achieving peace world-wide to realize a real economic development.

During a meeting wi...

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