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Financials and Investment News

Boutros Ghaly Only foreign investment can reduce the burden of public debt
Egypt >> 3/2/2017 - Only foreign investment can reduce the burden of public debt because Egyptian investment will not be able to raise growth in the meantime, said former Mubarak-era Finance Minister Youssef Boutros Ghal...
Egypt: US Delegation to Visit Egypt for Talks on Establishing Pharmaceutical Factory in Sczone
Egypt >> 3/4/2017 - Chairman of the Suez Canal Economic Zone (SCZone) Ahmed Darwish said a US company voiced readiness to establish a pharmaceutical factory in the SCZone.

In a statement issued, Darwish added th...
Sahar Nasr: Investment Minister, Cypriot president review promoting economic cooperation
Sahar Nasr: Investment Minister, Cypriot president review promoting economic cooperation Egypt >> 3/4/2017 - Cypriot President Nikos Anastasiadis received Egyptian Minister of Investment and International Cooperation Sahar Nasr during her official visit to Cyprus to chair the Egyptian side at the second ses...
Sahar Nasr: Government Works to Implement Comprehensive Economic Reform Program
Egypt >> 3/4/2017 - Egypt’s government is working to implement an all-out economic reform program and is determined to go ahead with legislative and administrative amendments to attract foreign investments in several pro...
Cairo, Arab-Brazilian chamber of commerce sign cooperation deal
Egypt >> 3/4/2017 - The Cairo Chamber of Commerce and the Arab-Brazilian Chamber of Commerce have signed a cooperation deal to increase trade exchange between Egypt and Brazil in the coming period.

In a statemen...
Egypt: Russian Industrial Zone to Be Built Under Usufruct Right-- Sczone
Egypt >> 3/4/2017 - Chairman of the General Authority for the Suez Canal Economic Zone (SCZone) Ahmed Darwish said that a Russian industrial zone in Eastern Port Said will be built under a usufruct right for 50 years.
Egypt: New measures to develop iron and steel, spinning and weaving sectors
Egypt: New measures to develop iron and steel, spinning and weaving sectors Egypt >> 3/5/2017 - Minister of Public Business Sector Ashraf el-Sharqawi said that he discussed new measures to develop the iron and steel and the spinning and weaving sectors during his meeting with Prime Minister Sher...
Sisi Urges Increasing Foreign Exchange Reserve with CBE
Sisi Urges Increasing Foreign Exchange Reserve with CBE Egypt >> 3/5/2017 - President Abdel Fattah El Sisi has stressed the importance of increasing hard currency reserve with the Central Bank of Egypt (CBE); a measure that will positively affect economic indicators in the co...
Sahar Nasr: Investment min, Cypriot president review promoting economic cooperation
Sahar Nasr: Investment min, Cypriot president review promoting economic cooperation Egypt >> 3/5/2017 - Cypriot President Nikos Anastasiadis received Minister of Investment and International Cooperation Sahar Nasr during her official visit to Cyprus leading the Egyptian side to meetings of the Egyptian-...
Kuwait Bourse Ends in Green Zone
Kuwait >> 3/5/2017 - Kuwait Bourse ended in the green zone as the price index gained 37.52 points reaching points 6,804.56, the weighted index gained 1.35 points reaching 425.89 points and KSX 15 gained 6.49 points reachi...
Kuwait: Trade, Industry Undersecretary Dies of Heart Attack in US
Kuwait >> 3/6/2017 - The Undersecretary of Ministry of Trade and Industry Khaled Al-Shemali, 47yrs, died late last night after a heart attack in Washington DC. Al-Shemali

was an official trip accompanied by Acti...
National Bank of Kuwait Egypt BOARD APPROVES CAPITAL INCREASE
Egypt >> 3/6/2017 - National Bank Of Kuwait Egypt Sae Board approves issued and paid-up capital increase to EGP 1.5 billion from EGP 1 billion through bonus share issue.

Board approves authorised capital incre...
Yields Rise on Egypt's Three and Seven Year Bonds
Egypt >> 3/6/2017 - Corrects yields in second paragraph to 16.75 and 16.90) Average yields on Egypt's 3-year and 7-year Treasury bonds rose at an auction data from the central bank showed.

The 3-year bond ave...
Remittances from Egyptians at $5 bln in three months after currency float
Egypt >> 3/6/2017 - Remittances from Egyptians abroad increased by 20 percent year-on-year in the three months following the country's November currency float, totalling about $5 billion, a central bank statement said
Egypt: 23% Increase in Remittances from Egyptians Expats in January
Egypt >> 3/6/2017 - Remittances from Egyptian citizens working abroad rose by 23% in January to US$1.6 billion, compared to US$1.3 billion in January 2016, the Central Bank of Egypt said

Since the currency deval...
Egypt: 47 Ships Transit Suez Canal
Egypt >> 3/6/2017 - Forty-seven ships transited the Suez Canal, with a total cargo load of 2.9 million tons.

The south-bound convoy included 23 vessels carrying around 1.6 million tons, while the north-bound con...
Egypt: Promising Investment Opportunities Available In Egypt
Egypt >> 3/7/2017 - Chairman of the General Authority for Investment and Free Zones Mohamed Khodeir said Egypt has now many promising investment opportunities, stressing that the authority is open to all Spanish investor...
Sherif Ismail Economic Ministerial Group Probes Governmental Investment Issues
 Sherif Ismail Economic Ministerial Group Probes Governmental Investment Issues Egypt >> 3/7/2017 - Prime Minister Sherif Ismail chaired a meeting of the economic ministerial group in the presence of the ministers of trade and industry, finance, supply and internal trade, agriculture and land reclam...
Kuwiat:OECD predicts "modest pick-up" in global economy in 2018
Kuwait >> 3/7/2017 - The global economy is set to expand moderately in 2018 compared with projected growth this year, the Organisation for Economic Cooperation and Development (OECD) said , but the policy body warned that...
Sahar Nasr Investment Ministry Prioritizes Solving Problems Facing Investors
Sahar Nasr Investment Ministry Prioritizes Solving Problems Facing Investors Egypt >> 3/7/2017 - Finding solutions to problems facing investors along with removing hindrances facing them are top priorities of the ministry to encourage pumping more investments, said Investment and International Co...

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