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Finance Min.: Initial Surplus Recorded 1.3%, Growth Rate Hit 4.2% in FY 2022-23
Egypt >> 8/1/2023 - Finance Minister Mohamed Maait said Egypt achieved for the first time an initial surplus of 1.3 percent in fiscal year 2022-2023, after suffering an initial deficit ranging between 3-5 percent for mor...
Cabinet Launches 'Let's Think' Initiative to Develop Foreign Exchange Resources
Egypt >> 8/2/2023 - The Information and Decision Support Centre (IDSC) of the Cabinet announced the launching of the "Let's Think for Our Country" initiative to create sustainable foreign exchange resources in Egypt.
Trade Min.: Over 790 Turkish Companies Invest in Egypt
Egypt >> 8/2/2023 - Trade and Industry Minister Ahmed Samir said over 790 Turkish companies are investing in Egypt.

Turkish investments in Egypt stood at about dlrs 2.5 billion in addition to more investments ...
ENR And Lenza Egypt to Establish New Spare Parts Manufacturing Company
Egypt >> 8/2/2023 - The Egyptian National Railways (ENR) has announced plans to establish a new join-stock company to produce mechanical spare parts in partnership with Lenza Egypt for Projects Engineering Equipment.
...
Irrigation Min Reviews Progress of Projects Implemented By Egypt in South Sudan
Egypt >> 8/2/2023 - Water Resources and Irrigation Minister Hany Sueilam reviewed with Egyptian Ambassador to South Sudan Motaz Mostafa the progress of the Egyptian-South Sudanese development projects in the water resou...
Egypt Enjoys Competitive Edge In Producing Green Hydrogen
Egypt >> 8/2/2023 - Egypt’s Prime Minister Moustafa Madbouli said that Egypt adopted a series of important measures that enabled it to occupy a competitive place in the green hydrogen sector, thanks to the political lead...
Egyptian Fertilizer Producers Report Marginal Impact After Natural Gas Supply Reductions
Egypt >> 8/2/2023 - Seven Egyptian fertilizer manufacturers reported a marginal to moderate impact on operations following the Ministry of Petroleum's decision to reduce natural gas supplies to fertilizer factories by 20...
Market Watch: Gold Climbs Higher in Egypt ; Stock Market Indices End In Red
Egypt >> 8/2/2023 - The gold prices inched higher, while the Egyptian Exchange indices suffered a marginal decline.

Stock market The leading index EGX30 declined by 0.33 percent to end at 17,455.6 points.
...
PM Madbouli Lauds Growing Momentum In Egyptian-Italian Relations In Different Areas
Egypt >> 8/2/2023 - Prime Minister Mostafa Madbouli said the State provides all possible facilitation to promote local and foreign agriculture investment.

Madbouli made the remarks on Tuesday1/8/2023 during a ...
DUBAL Holding, Oriental Copper to Manufacture High-Quality Copper Products in UAE
Egypt >> 8/3/2023 -  DUBAL Holding, the investment arm of Dubai Government in the commodities, mining, power, energy, and industrial sectors, has signed a Memorandum of Understanding (MoU) with Oriental Copper, a manufac...
Cabinet Lauds State Efforts to Boost Competitiveness of Suez Canal
Egypt >> 8/6/2023 - The Egyptian Cabinet’s media center said that the State has been acting hard to enhance the competitiveness of the Suez Canal and maximize its status as a vital and safe international trade route.
...
CBE Announces Increase in Foreign Currency Reserves By $72bn
Egypt >> 8/7/2023 - The Central Bank of Egypt (CBE) announced Sunday an increase in the reserves of foreign currencies by about 72 million dollars.

The CBE put the total reserves of foreign currencies at about...
Dollar prices stable at major Egyptian banks
Egypt >> 8/7/2023 - The exchange rate of the US dollar against the Egyptian pound was stable at the beginning transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dolla...
Attends Signing of Contract on Egypt's First Locally-Manufactured Electric Vehicle
Egypt >> 8/7/2023 - Higher Education and Scientific Research Minister Ayman Ashour attended the signing ceremony of contracts on Egypt's first locally-manufactured electric vehicle (EV).

This came upon directi...
Mous With Jordan to Bolster Ties in Various Fields
Egypt >> 8/7/2023 - Egypt and Jordan signed, 7-8-2023, 12 MoU and co-operation programmes aiming to boost bilateral ties in various fields.

The Egyptian Jordanian Joint Higher Committee convened in Amman for i...
Egypt Introduces New Custom Facilities to Boost Exports
Egypt >> 8/7/2023 - Egypt’s Ministry of Finance announced in a statement on Monday new facilities for customs declarations and transits.

Under the new facilities, importers can now submit customs declarations ...
Ajman Bank AED 550mn Rights Issue Oversubscribed 7.4 Times
United Arab Emirates >> 8/7/2023 - Ajman Bank’s AED 550 million Rights Issue saw an overwhelming response indicating oversubscription of 7.4 times, with a total demand of AED 4.1 billion.

The initiative attracted many inter...
Borouge, Borealis Launch New Sustainable Automotive Products Made From Up to 70% Recycled Materials
United Arab Emirates >> 8/7/2023 -  Borouge, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, and Borealis, one of the world’s biggest polyolefin manufacturers, today announced the launc...
Sharjah Asset Management, IHG Hotels & Resorts Boost Sharjah’s Tourism Industry
United Arab Emirates >> 8/7/2023 -  IHG Hotels & Resorts and Sharjah Asset Management have announced the signing of a management agreement to bring a voco hotel to Sharjah, UAE.

The new hotel is poised to contribute to the g...
Ajman, UAQ Government Entities Join National ICV Programme
United Arab Emirates >> 8/7/2023 - Ajman’s Departments of Economic Development and Finance and Umm Al Quwain’s Executive Council have joined the National In-Country Value (ICV) Programme, launched by the Ministry of Industry and Advanc...

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