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Economics/Financial Analysis News in Egypt

Anti-dumping Authority in Egypt Imposes Duty on Commodities
6/10/2012 - Industry and Foreign Trade Minister, Dr. Mahmoud Eissa, on 9/6/2012 said that the decision to impose dumping duties on particular commodities is usually issued by Anti-Dumping Authority at internation...
Egypt Wheat Reserves Enough for Next 6 Months
6/11/2012 - Egypt’s strategic reserves of wheat are enough for between three and six months, the country's Ministry of Supplies and Domestic Trade announced. Egyptian wheat reserves sit at 4.7 million tonnes, 1.7...
Egyptian Stock Exchange (ESE) Loses LE 1.1 bn
6/11/2012 - Egyptian Stock Exchange (ESE) lost almost LE1.3 billion on Sunday's trading due to intensified sales of foreign and Egyptian investors. The main benchmark EGX30 index dropped by 0.39 percent registeri...
356,000 Feddans Allocated for Investors in Sinai
6/11/2012 - As of mid-July this year 356,988 feddans will be allocated for investors in Sinai and Toshka and Sharq al-Owainat in the New Valley governorate for the purpose of possession or usufruct. In statements...
Egypt Islamists Draft Code to Boost Islamic Banks
6/12/2012 - The political party of Egypt's Muslim Brotherhood, which has the biggest bloc in parliament, is proposing changes to the banking law with the goal of boosting the market share of Islamic banks to 35 p...
IBRD Expects Egyptian Economic Growth by 1.4% in 2012
6/13/2012 - The International Bank for Reconstruction and Development (IBRD) expected that the Egyptian economy will achieve an annual growth rate of 1.4% during 2012, which is likely to increase to 4.6% in the y...
Egypt's GASC has 6-Month Wheat Supply
6/13/2012 - Egypt's state wheat buyer said it had purchased six months' supply from local and international sources and was looking to issue a new international wheat tender for delivery in the start of August. N...
US Development Grants to Egypt Plunged 95 pct in 2011
6/13/2012 - US development grants to Egypt plunged an annual 95 per cent to $15.5 million in 2011, data from state statistics agency CAPMAS showed. Egypt received $285.2 million in such grants from the United Sta...
Nokia to Cut 10,000 Jobs as Q2 Weak
6/14/2012 - Nokia plans to cut one in five jobs at its global cellphone business as it loses market share to rivals Apple and Samsung and burns through cash, raising new fears over its future. In a second profit ...
$ 65 mn in Cedit Fcilities to Egypt from AMF
6/15/2012 - The Arab Monetary Fund (AMF) approved on 17/6/2012 a credit facilities agreement estimated at $65 million for Egypt to finance trade with other Arab countries within the framework of a trade financing...
Momtaz El-Saeed: EGP 285bn in New Budget for Subsidies
6/15/2012 - Up to 285 billion Egyptian pounds were allocated in the new budget for financing subsidies, said Minister of Finance Momtaz El-Saeed on 14/06/2012. In press statements, Saeed noted that these funds wi...
GAFI Chairman Meets Major US Companies’ Representatives
6/15/2012 - Chairman of the General Authority for Investment and Free Zones (GAFI) Osama Saleh has met with representatives from a number of major US companies operating in Egypt and members of the US-Egypt Busin...
Egypt, Kuwait Seek Setting up Business Council
6/15/2012 - Egyptian-Kuwaiti relations are witnessing unprecedented growth as Egypt's exports to Kuwait increased by 36 percent last year to reach EGP 1.4 billion. This would open wide horizons for cooperation be...
El-Ganzouri Reviews SFD Activities in Past Period
6/15/2012 - Prime Minister Kamal el-Ganzouri reviewed the accomplishments of the Social Fund for Development (SFD) made in the past period during a meeting on 14/06/2012. The SFD has offered EGP 997.6 million in ...
Fitch Cuts Egypt's Rating to B-Plus on Political Crisis
6/15/2012 - Fitch Ratings downgraded Egypt's sovereign credit rating deeper into junk status, citing the rising political crisis after the nation's Supreme Constitutional court annulled parliamentary elections. T...
Egypt Stocks Stumble on Cabinet Uncertainties
6/15/2012 - Egypt's stock market ended in the red on Sunday on the back of ongoing uncertainty over the shape of Egypt's incoming government and the approach of the Islamic fasting month of Ramadan, set to begin ...
Egyptian Cooperation in the Field of Information Technology
6/16/2012 - Young Businessmen Association and the Egyptian- Asian Association of cooperation signed an agreement between the two societies in the fields of investment and training, information technology and comm...
AMF Arranged a $65 Million Credit Facility for Egypt
6/17/2012 - The Arab Monetary Fund (AMF) said it was arranging a $65 million credit facility for Egypt to help the country trade with other Arab states, as political instability threatens Cairo with a balance of ...
Implementation of Sinai Development Plan Quickly
6/17/2012 - Prime Minister Kamal al-Ganzouri ordered the implementation of Sinai development project quickly in all fields and offering facilities to investors in terms of prices of lands, electricity and water. ...
Momtaz al-Sa’ed: Egypt Economy Ready to Bounce Back
6/17/2012 - Finance Minister Momtaz al-Sa’ed, has said that the performance of the Egyptian economy sends a clear message that the country will restore its normal growth rates soon. Sa’ed was speaking in statemen...

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