Finance News
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Hermes predicts 2020 great year for Egyptian economy
The outlook predicts a solid growth for the Egyptian economy in 2020. Egypt is expected to reap the gains of the years of economic reform.
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Egypt- HSBC, Citibank compete to assess Siemens power plants
Egypt's SWF plans to obtain a 30% stake in power plants implemented by the German company Siemens.
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Egypt- Banque du Caire inaugurates two business development centres
The initiative aims to encourage young people to establish successful projects and support small projects in the informal sector.
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CBE auctions EGP 18.5 bln in treasury bills
The CBE said it auctioned the first batch of EGP 9 billion for 91 days and the second at EGP 9.5 billion for 273 days.
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Egypt one of the fastest-growing economies: Davos forum chairman
The chairman of the Davos forum praised Egypt's progress, especially the economic and legislative reforms that contributed to improving investment
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Egypt issues longest-term international bond with maturities of 40 years
Egyptian Finance Minister Mohamed Ma'eet said that Egypt has returned to the international bond market by issuing 2 billion dollar bonds in 3 tranches
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64% of Egypt's businesses are more optimistic about future in the market
The latest HSBC ‘Navigator: Now, next and how’ survey of over 9,100 companies in 35 countries found that 64% of businesses in Egypt are optimistic.
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Egypt's Suez Canal records highest ever monthly revenues in October
Revenues from the canal recorded a yearly growth rate of 5.4 percent in fiscal year (FY) 2018/2019, reaching $5.9 billion, up from $5.6 billion.
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Egypt the most attractive African market for FDIs with $3.6 bln
In a report issued on Monday, UNCTD unveiled that Egypt has attract FDI flows worth $3.6 billion.
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OECD praises Egypt's inclusive social, economic development
Secretary-General of the Organisation for Economic Co-operation and Development José Ángel Gurría praised Egypt's efforts in inclusive development.
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Egypt Ranks 114 in Doing Business 2020
Egypt climbed up 6 spots to rank at 114th place among 190 economies in ease of doing business. Download the full report here.
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Islamic finance corporation to diversify investment portfolio in Egypt
The International Islamic Trade Finance Corporation says is eager to further its support for Egypt’s economic reform programme.
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Egypt inks deal with Euroclear Bank to upgrade public debt management
Under the signed deal, the government debt instruments will be linked with Euroclear's local currency to help reduce public debt.
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Egypt's PM follows up on measures to launch sovereign wealth fund
The fund is a form of active partnership between the government and private sector which aims at achieving sustainable development objectives.
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Egypt ranks 93rd in Global Competitiveness 2019
Egypt climbed 1 rank in 2019 up from the 94th in this version of the report released annually by the World Economic Forum.
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Egypt discussing possible new IMF cooperation
Egypt is discussing possible further assistance from the IMF to help it carry out structural reforms once its current three-year IMF programme ends.
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Egypt's economy is diversified, receives large amounts of FDIs
Rand Merchant Bank stated that Egypt, SA, and Morocco maintained their positions as the top 3 in 2020 investment attractiveness in Africa.
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Egypt expects several share offerings by end of year
Egypt promised to sell minority stakes in several state companies in late 2018 but postponed the offerings following emerging market turbulence.
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Egypt inflation lowest since 2013
Inflation rates slowed to almost 4.9% annual rate in August. Despite interest rate cuts, Egypt is becoming more attractive for investors.
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Global Telecom Holdings delisted from Egypt's Stock Exchange
Global Telecom Holdings (GTH), which operates Djezzy in Algeria, has been delisted from the Egyptian Stock Exchange.