Egypt will keep its customs exchange rate steady at 16 pounds per dollar for September, Finance Minister Mohamed Maait said on Wednesday.
Egypt began setting a monthly fixed customs exchange rate in January, following the flotation of its pound (...)
The leasing arm of Egypt's second state lender Banque Misr, BM Lease seeks to sign new deals worth 500 million Egyptian pounds during the second half of 2018 in different fields.
A source with knowledge said that BM Lease aims to increase its (...)
Egypt's Finance Minister Mohamed Maait said foreign inflows in the government securities reached $17.5 billion since its pound currency was floated in November 2016 and up until late June this year.
The currency float was the opening salvo of Egypt (...)
Leasing activities in Egypt recorded a 34.6 percent y-o-y rise throughout the first quarter of 2018, recording 7.5 billion Egyptian pounds compared to 5.6 billion pounds a year earlier.
Leasing contracts decline by 14 percent to record 408 contracts (...)
Egypt expects to receive a fourth payment, worth $2.02 billion, of a $12 billion IMF loan within this month, its Finance Minister Mohamed Mait told Amwal Al Ghad on Saturday.
The International Monetary Fund's executive board approved on Friday the (...)
Finance Minister Mohamed Ma'it said on Sunday Egypt is set to put into the effect the biggest budget in its history for the upcoming 2018/2019 fiscal year.
Egypt's fiscal years starts on July 1 and lasts until June 30 of the following year.
Ma'it, (...)
BM Lease Company, jointly owned by Egypt's second largest public bank Banque Misr, expects to begin offering factoring services in the first quarter of 2019, its chief executive Hesham Shatta told Amwal Al Ghad on Saturday.
This will be part of the (...)
Egy Lease is in talks with other three banks, Banque Du Caire, Emirates NBD, and the Arab Investment Bank, to obtain 150 million Egyptian pounds ($8.5 million) funding, chairman of Egy Lease Iman Ismail told Amwal Al Ghad.
The comopany has signed (...)
Deputy Minister of Finance for Tax policy Amr El-Monayer submitted his resignation to the Prime Minister Sherif Ismail on Monday.
He was appointed this position in March 2016. Amr El-Monayer has succeeded in establishing a modern taxes policy that (...)
The Egyptian government seeks to issue new USD 3-4 billion Euro bonds in the financial year 2018-2019, Deputy Finance Minister Ahmed Kouchouk said Sunday.
A few days ago, Egypt's ministry of finance successfully issued and priced a three-tranche USD (...)
The Holding Company for Tourism and Hotel is in talks with Bank Audi and the National Bank of Egypt to secure a loan of 70 million Egyptian pounds ($3.9 million) as part of The Central Bank of Egypt (CBE) initiative to renovate hotels, Chairman (...)
Egypt will launch the first phase of a bunch of new land plots for investments in New El Alamein, northwest of Cairo, and New Mansoura cities within April 2018, assistant to Housing Minister said Thursday.
In August 2017, Egyptian President Abdel (...)
Egypt will keep its customs dollar exchange rate steady at 16 pounds for January, the finance ministry said in a statement on Sunday.
"The decision is consistent with the currency price stabilisation in the past period," it further said.
Egypt began (...)
Egypt's biggest lender, the state-owned National Bank of Egypt says assets have surged to around 1.1 trillion Egyptian pounds ($58.5 billion) following Nov.3 flotation of the local currency, an official in the bank announced Wednesday.
NBE's Deputy (...)
Egypt's biggest lender, the state-owned National Bank of Egypt says net profits have exceeded 6 billion Egyptian pounds ($319.2 million) during the first half of the current financial year 2016/2017.
NBE's Deputy Chairman, Yehia Aboul Fotouh further (...)
Egypt's second largest state-owned lender, Banque Misr is planning to sign a loan worth $150 million with Abu Dhabi Islamic Bank-Egypt (ADIB) within the second quarter of financial year 2016/2017.
Mohamed El-Etreby, Banque Misr's Chairman, told (...)
Egyptian Chemical and Fertilizers Export Council (CEC) coordinates with Trade and Industry Ministry to raise sector's exports to US$32 billion by 2020, CEC Head Khaled Abu El Makarem stated Saturday.
The Chairman added that the total exports of (...)
Luxor Governorate is planning to issue 500 feddans in Armant town, 20 km south-west of Luxor, to establish four solar power plants within 2017, Governor Mohammed Badr said Tuesday.
The governor made these remarks during his speech in Luxor Renewable (...)
The total number of Arab tourists who visited Egypt within the first nine months of 2016 recorded 1.2 million, Egyptian Tourism Minister Yehia Rashed stated Monday.
The ministry has an approach towards Arab tourism market since it has a major (...)
The total number of touristic rooms and units established on lands owned by Egyptian Tourism Development Authority (TDA) recorded 6,000 during the first nine months of 2016.
Speaking to Amwal Al Ghad on Tuesday, Serag El Din Saad -CEO of TDA- stated (...)
The number of tourists visiting Egypt dropped by 45 percent in 2016 to 5.1 million compared to 9.3 million during 2015, an official source at Egyptian Tourism Ministry stated Saturday.
Speaking to Amwal Al Gahd, the source said that Egypt's tourism (...)
Egypt is set to organise an international conference on medical tourism in Sharm El-Sheikh in early March 2017, South Sinai Governor Khaled Fouda announced Wednesday.
The Egyptian official further stated that the conference aims to showcase the (...)
Egypt has launched a new mutual fund designated to renew and renovate the hotel establishments in the country, central bank governor Tarek Amer announced Sunday.
The new fund is at initial capital of 5 billion Egyptian pounds ($264 million), Amer (...)
Egypt's local lenders have collected between $6.5 billion and $7 billion since Nov.3 decision to liberalise Egyptian pound exchange rate against U.S. dollar, central bank governor Tarek Amer told Amwal Al Ghad on Sunday.
"The banks now are leading (...)
AccorHotels Group has signed Wednesday a cooperation agreement with Egypt's Al Arabia Real Estate and Development (ARCO) to establish four new hotels in North Coast.
The four new hotels will be Fairmont Fouka Bay, Swissotel Fouka Bay, Novotel El (...)