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Economics/Financial Analysis News in Egypt

Egyptian Demand for Steel Demand fell 7.5 pct in May
7/10/2012 - Egyptian demand for steel fell a monthly 7.5 per cent in May, official statistics from the Cabinet’s Information and Decision Support Centre (IDSC) showed on Monday. Egypt ordered around 514,000 tonne...
Egypt External Debt Drops $1.5bn in March
7/10/2012 - Egypt's external debt dropped by $1.5 billion in the first nine months of the 2011/12 fiscal year to reach $33.4 billion in March, data from the Central Bank of Egypt (CBE) showed. The bulk of the dro...
CBE: Financial Status of Banks Reaches LE 1.3 Trillion
7/10/2012 - A recent report by the Central Bank of Egypt (CBE) showed rise in financial position of banks - other than the Central Bank- by EGP 75.6 billion or 4.2% to reach EGP 1.3 during the period from July 20...
Egypt Urban Inflation Slows to 7.2 % in June
7/10/2012 - Egypt's urban consumer inflation eased to 7.2 percent in the 12 months to June from 8.3 percent in May, figures from Egypt's state statistics agency showed. The urban consumer price index for June was...
OECD Sees no End to Jobs Crisis as Economy Struggles
7/11/2012 - Unemployment in advanced economies will remain high until at least the end of 2013, with young people and the low-skilled bearing the brunt of what is by far the weakest economic recovery in the past ...
Egypt Bourse Gains LE 1.2 Billion at End of Trading
7/11/2012 - The Egyptian Stock Exchange gained LE1.2 billion at the end of trading on 10/7/2012. The bourse was supported by the purchasing of Egyptian and Arab investors amidst expectations about ending a parlia...
Egypt Seeks Settling Problems of Defaulting Plants
7/11/2012 - The government is seeking to settle the problems of defaulting plants, said Minister of Industry and Foreign Trade Mahmoud Eissa on 10/7/2012. Operating the stalled plants hitting 1570 in number, is o...
HSBC to Apologise Over Lax Money Laundering controls
7/11/2012 - Global banking giant HSBC Holdings will apologise to a US Senate hearing next week for failures in its anti-money laundering controls, a report said Wednesday. HSBC will tell lawmakers at the 17 July ...
Eissa: EGP 3.1 Billion to Boost Exports
7/12/2012 - Egypt's Export Promotion Fund is in the process of adopting new criteria to offer export-support incentives to exporters in the coming fiscal year, Industry and Foreign Trade Minister Mahmoud Eissa sa...
Egypt Economy Grew 1.8 pct in 2011/12
7/14/2012 - Egypt's economy grew between 1.8 and 2 per cent in the fiscal year that ended in June 2012, the country's finance minister said late last week. The preliminary figures for GDP growth cited by Momtaz E...
US to Give Egypt $250m in Trade
7/14/2012 - The United States is to grant Egypt $250 million in credit guarantees for trade, Hillary Clinton has told a Cairo press conference.

Clinton also announced the founding of a $60 million inve...
Egyptian Exchange loses EGP 8.2 Billion this Week
7/14/2012 - The Egyptian Exchange closed this week with losses amounting to EGP 8.2 billion despite gains achieved in the last three sessions but were not enough to cover up the losses of the first two days cause...
Egypt to Offer LE2bn in 5 & 10-Year Bonds
7/16/2012 - Egypt's Finance Ministry will offer LE2 billion ($329.85 million) in reopened five-year and ten-year bonds at an auction, the central bank said on Monday. The five-year bonds mature on 10 April, 2017,...
The Egyptian Exchange Loses EGP5.5bn
7/16/2012 - The Egyptian Exchange lost EGP5.5 billion on 15/7/2012 as stock speculators carried out wide share selling operations in a move to pressure other investors to sell after rises in shares have been reco...
Hundreds Protest in Suez to Pressure Saudi-Owned Company
7/16/2012 - Hundreds of workers of the United Sugar Company (USCE) protested at the Saudi Arabian consulate in Suez Governorate to press their demands for extra pay. Around 350 staff from USCE, which is majority-...
No Backtracking on Carrying out Dabaa Nuclear Project
7/17/2012 - Electricity Minister Hassan Younis affirmed that Egypt will never backtrack from carrying out Egypt’s nuclear program that aims at establishing the first nuclear power station in Dabaa area to produce...
Egypt the Industrial Sector Loans Rose by EGP 1.6 Billion
7/17/2012 - Egypt's central bank has said financing from banks to the country's industrial sector rose by EGP1.6 bn to a total of EGP 155bn in April 2012, compared with EGP 153.4bn in the previous month, the Dail...
Egypt Secured a 300 Million Riyal Loan from Saudia Arabia
7/18/2012 - Egypt secured a 300 million riyal ($80 million) loan from the Saudi Fund for Development to refurbish and replace irrigation pumps, the state-run Middle East News Agency reported, citing Irrigation Mi...
Private Funds give 20 Percent of Revenues to State Budget
7/18/2012 - Egypt's Finance Minister Momtaz El-Saeed has ordered that 20 percent of revenues from the country's 'private funds' be added to the state budget. Private funds are monies raised by Egyptian state inst...
Egypt-US Enterprise Fund with $ 60 mn Established
7/18/2012 - The US Embassy in Cairo said that Egypt-US Enterprise Fund that US Secretary of State Hillary Clinton had announced to be established officially next month, will commence activities as of September. C...

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