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Economics/Financial Analysis News in Egypt

Egypt’s Finance Ministry Auctions T-bills at EGP 7.5bn
1/18/2016 - The Finance Ministry auctioned treasury bills at a total value of EGP 7.5 billion.

In an online statement, the ministry said it sold EGP 3 billion of 91-day T-bills. The average yield was 11....
Egypt's Central Bank not moving Toward Weakening The Pound
2/16/2016 - Egypt's central bank is not moving toward devaluing the pound or floating its currency, a central bank official said in remarks published by the state news agency on Tuesday, as demand for dollars in ...
CBE: There is no Intention to Reduce Pound Exchange Rate
2/23/2016 - The Central Bank of Egypt (CBE) will not reduce the exchange rate of the Egyptian pound before the foreign reserves reach US$25 billion or $30 billion, stated CBE Governor Tareq Amer.

Amer ad...
Egypt's Finance Ministry Reveals VAT-free Goods and Services
5/20/2016 - Egypt's finance ministry has listed 52 commodities and services that will be exempted from a new value-added tax (VAT), which is expected to be applied this year after it is approved by parliament.
Egypt Sets Ceiling for Drug Price Increase at EGP 6 per pack
5/26/2016 - Egypt imposed a EGP 6 ceiling per pack on the increase in the price of medicines, after a number of pharmacists and drug companies circumvented an earlier decision to raise fixed prices, MENA agency q...
Tarek Qabil: Egypt’s non-Petroleum Exports up
 Tarek Qabil: Egypt’s non-Petroleum Exports up 5/31/2016 - Egypt's non-petroleum exports have increased in April 2016 to $1.7 billion, compared to $1.6 billion in the same month of 2015, an increase of 8.85 percent, said Trade and Industry Minister Tarek Qabi...
Egypt's Beltone Financial Plans to Entice Overseas Investors with GDRs
6/12/2016 - Egypt's Beltone Financial , a unit of billionaire businessman Naguib Sawiris's OTMT, said it planned to convert up to a third of its share capital into Global Depositary Receipts (GDRs) listed abroad....
Egypt closed 53 forex bureaus since beginning of year
Egypt closed 53 forex bureaus since beginning of year 8/19/2016 - A total of 53 foreign exchange bureaus have been closed since the start of the year, deputy governor at the Central Bank of Egypt (CBE) Gamal Negm said .

The CBE has closed a large number o...
Sisi Issues VAT Law after Parliament Approval
Sisi Issues VAT Law after Parliament Approval 9/18/2016 - President Abdel Fattah El Sisi issued the Value Added Tax (VAT) law after it was approved by the House of Representatives.

The law, to be published in the Gazette, revokes law no. 11/1991 ...

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