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The Central Bank of Egypt
16 January 10:05 PM Egypt sells EGP 25.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) has sold treasury bills (T-bills) with maturities of 182 days and 364 days totalling EGP 25.456 billion on Thursday on behalf of the Ministry of Finance (MoF). The 182-day bills received orders …
The discount rate was maintained at 12.75%
16 January 09:44 PM CBE holds interest rates steady
Cairo – Mubasher: The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided in its meeting on Thursday to maintain the current interest rates. The overnight deposit rate and the overnight lending rate were kept unchanged at …
The projects created 13,950 jobs
16 January 07:47 PM Mashrou'ak initiative finances 5,615 projects in Kafr El-Sheikh
Cairo – Mubasher: Egypt’s national project for human and community development ‘Mashrou'ak’ has financed 5,615 projects in Kafr El-Sheikh with a total amount of EGP 629.329 million, Kafr El-Sheikh’s governor Gamal Nour EL-Din stated on Thursday, …
CBE's initiatives support the positive expectation
16 January 07:16 PM Egyptian economy to flourish in 2020 – Renaissance Capital
Cairo – Mubasher: The Egyptian economy is expected to see more improvements in 2020, reaping the benefits of the country’s economic reform programme with the International Monetary Fund (IMF), Renaissance Capital remarked on Thursday, according to …
EBRD invested in 26 projects in Egypt
16 January 06:53 PM EBRD invests EUR 1.2bn in Egypt in 2019
Cairo – Mubasher: Egypt topped receivers of the European Bank for Reconstruction and Development’s (EBRD) annual investments in terms of value for the second year in a row. In 2019, the EBRD invested EUR 1.2 billion in 26 projects in the North …
Two sides discussed the cooperation strategy
16 January 05:31 PM Egypt-World Bank Group cooperation portfolio totals $8bn
Cairo – Mubasher: The cooperation portfolio between the Egyptian government and the World Bank Group stood at $8 billion, Egypt’s Ministry of International Cooperation stated on Thursday during a meeting with executives from the group. This amount …
Participants stressed the crucial role of government support to achieve gender quality
16 January 05:13 PM WiSER forum highlights digitalisation’s role in women empowerment
Abu Dhabi – Mubasher: The global leading renewable energy company Masdar held its fifth annual Women in Sustainability, Environment and Renewable Energy (WiSER) Forum on Tuesday, January 14 at Abu Dhabi Sustainability Week (ADSW) 2020. During an …
The CBE is not in a hurry
16 January 04:55 PM CBE may hold interest rates steady today – SHUAA
Cairo – Mubasher: The Central Bank of Egypt (CBE) may opt for keeping interest rates unchanged today, according to a report released by SHUAA Securities Egypt. What may push for that decision is the latest increase in inflation which calls for …
The websites have exploited different social media platforms
16 January 03:59 PM Saudi embassy denies claims on free Hajj, Umrah trips
Cairo – Mubasher: The Embassy of Saudi Arabia in Egypt has denied the accuracy of the news circulated on fake websites promoting for free Hajj and Umrah trips. The embassy stressed that these websites have exploited different social media …
The Foundation Charter of the EMGF has been approved
16 January 03:16 PM France seeks to join East Med Gas Forum
Cairo – Mubasher: France has requested to join the East Mediterranean Gas Forum (EMGF), the Egyptian minister of petroleum Tarek El-Molla said. The assistant to the US deputy secretary of energy also voiced his country’s interest to join the forum …
Germany leads European countries in terms of the volume of economic cooperation with Egypt
16 January 02:32 PM Egypt-Germany cooperation portfolio hits EUR 1.7bn – Minister
Cairo – Mubasher: The Egyptian minister of international cooperation Rania Al Mashat has explored possible economic and development cooperation opportunities with a delegation from Germany’s Federal Ministry of Economic Cooperation and …
A total of 923 roads are required to be paved during FY19/20
16 January 01:48 PM Egypt allocates additional EGP 2bn for road pavement in governorates
Cairo – Mubasher: The Egyptian government has allocated an additional amount of EGP 2 billion to develop roads inside governorates during fiscal year 2019/2020, prime minster Mostafa Madbouly said in a statement on Thursday. Part of this amount …
A total of 20 projects at free zones have increased their capital by $173 million
16 January 12:52 PM Egypt’s GAFI approves 20 projects with $78m investments in 5M
Cairo – Mubasher: The Egyptian General Authority for Investment and Free Zones (GAFI) announced the approval of 20 new projects during the August-December period of 2019. With investments of $78 million, the new projects have created about 890 …
State-run banks are the largest holders of the government debt instruments
16 January 11:28 AM CBE issues EGP 20.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 20.5 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 182-day notes valued at EGP 10 …
The Egyptian prime minister Mostafa Madbouly
16 January 11:18 AM Egypt’s cabinet releases mining law regulations
Cairo – Mubasher: The Egyptian prime minister Mostafa Madbouly has issued the executive regulations to the Mining Law No. 198/2014. Under the new regulations, a newly-formed committee will decide on royalties for each raw material ranging from 5% …
Saudi Arabia topped importers of crude iron and steel from Egypt
16 January 10:52 AM Egypt’s iron, cement exports hit $777m in 11M
Cairo – Mubasher: Egypt’s exports of crude iron, steel, and cement plunged by 41.3% year-on-year to $777 million in the first eleven months of 2019, compared to $1.098 billion, the Middle East News Agency (MENA) recently reported, citing official …
Organic chemicals exports dropped 62% YoY
15 January 09:19 PM Egyptian chemicals, fertilisers exports total $4.76bn in 11M/19
Cairo – Mubasher: Egyptian chemicals and fertilisers exports declined by 10% year-on-year to $4.761 billion in the first 11 months of 2019, the Chemical & Fertilizers Export Council stated on Wednesday, according to the Middle East News Agency …
The supply ministry's headquarters
15 January 06:55 PM Egyptian gov’t tenders EGP 2.5bn logistics area in El Wadi El Gedid
Cairo – Mubasher: Egypt’s Ministry of Supply and Internal Trade on Wednesday tendered a project for the construction of an EGP 2.5 billion logistics area for dates and crops in El Wadi El Gedid Governorate. The project comes in line with Egypt’s …
EasyJet will operate 2 flights/week from Manchester to Sharm
15 January 05:43 PM UK’s EasyJet resumes flights to Sharm El Sheikh
Cairo – Mubasher: British low-cost airline EasyJet has announced that it will resume flights to Egypt’s Sharm El Sheikh for the first time since November 2015, according to a statement released on Wednesday. The company’s announcement comes after …
Part of the signing ceremony
15 January 05:22 PM Egypt’s SWF, Hassan Allam ink MoU for investments in utilities
Cairo – Mubasher: The Sovereign Fund of Egypt (TSFE) and Hassan Allam Holding (HAH) have signed a memorandum of understanding (MoU) to jointly invest, directly or indirectly, in projects in the fields of power, water, renewable energy, and …
FRA headquarters
15 January 04:41 PM Egypt’s FRA suspends three companies for 30 days
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) has decided to suspend licences of three companies, according to a bourse statement released on Wednesday. The suspended companies included Ridge for Creation and Management of …
Germany’s KfW will provide a long-term soft loan worth EUR 30 million
15 January 03:43 PM Germany’s KfW, EU provide EUR 49.5m funding to Egypt’s MSMEDA
Cairo – Mubasher: The Egyptian Micro, Small, and Medium Enterprise Development Agency (MSMEDA), KfW Development Bank, and the European Union (EU) have signed a EUR 49.5 million funding agreement, the Middle East News Agency (MENA) reported on …
Iron prices have dropped by EGP 300 per tonne since the beginning of the week
15 January 03:28 PM Iron prices to further decline as EGP levels up
By: Abdullah Bedeir Cairo – Mubasher: Iron prices are expected to further decline in the coming period, Ahmed El-Zeiny, the head of chamber of building materials at the Federation of Egyptian Chambers of Commerce (FEDCOC) told Mubasher. With the …
The shipment reflects the success of KNPC’s international marketing sector
15 January 02:07 PM KNPC exports first low-sulfur diesel shipment
Mubasher: Kuwait National Petroleum Company (KNPC) announced that the first shipment of low-sulfur diesel (ULSD 10ppm) has been exported through Mina Abdullah refinery to global markets after fulfilling al requirements. The exported 40,000-tonne …