National Investment Bank secures EGP50 million for Egypt Railway Projects
The National Investment Bank (NIB) has disbursed another payment of loan worth 50 million Egyptian pounds (US$6.6…
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Momtaz El-Saeed
Ex-FinMin: Egypt Sees 4% Economic Growth on 2nd Stimulus Package
Momtaz El-Saeed, the Former Finance Minister and a board member of the National Investment Bank expected that the…
IDB To Offer US$ 31.03 Mln Finance To Al-Azhar University Hospital
The Islamic Development Bank’s Board of Executive Directors approved in its meeting last Sunday to contribute to…
Bankers Differ On Impact Of Political Turmoil Over IMF Talks
Egypt is witnessing political turmoil after the eruption of violent clashes between protestors and security forces…
Egypt’s Budget Deficit Hits EGP 69.6 Bln In Q1
Egypt’s budget deficit rose by 3.9% to register EGP 69.6 billion at the end of Q1 of FY 2012/2013, up from EGP 47.2…
CBE Secures 3rd Tranche Of Qatar’s US$ 2 Bln Deposit
The Minister of Finance Momtaz Al-Saeed announced that the Central Bank of Egypt (CBE) received US$ 500 million…
New PPP To Be Announced Next January: Momtaz El-Saeed
The Egyptian government will announce the establishment of Public–Private Partnerships (PPP) by next January, said…
Egypt, Qatar Sign Contract For 2nd Deposit Tranche Worth $500 Mln
The Minister of Finance Momtaz El-Saeed announced finalizing the executive procedures for the $ 500 million second…
Hesham Kandil Plans Increasing Return On Insurance Funds
The Egyptian Prime Minister Dr. Hesham Kandil held a ministerial meeting discussing the possible methods for…
Egypt’s Govt. Securities Rose To EGP 18.5 Bln Since Morsi’s Inauguration
The Minister of Finance Momtaz El-Saeed stated that the volume of the government net borrowing (government…
EGX 30 Ends Above 5459 Pts Ahead of PM Kandil’s Visit
During Monday closing session, the Egyptian Exchange (EGX) has tripled its early gains to eventually reach EGP 3…
Finance Minister Approves Settlements In Tax Evasion Cases
The Minister of Finance Momtaz El-Saeed approved the settlements in tax evasion cases in August. Mahmoud Faizi,…
El-Saeed Denies Making Refaat Serve Another Term As Head Of Tax Authority
The Minister of Finance Momtaz El-Saeed denies what was said in the media that the Ministry submitted a request to…
Egypt Likely To Ask For US$4.8 Bln Loan From IMF
Egypt will discuss the possibility of a bigger-than-expected $4.8 billion loan from the International Monetary Fund…
Finance Ministry Allocates US$100 Mln For EGPC To Meet Petroleum Needs
The Minister of Finance, Momtaz El-Saeed approved allocating US$ 100 million for the Egyptian General Petroleum…
Egypt Economy Grows 1.8% In H1
Egypt’s economy grew between 1.8 and 2 percent in the fiscal year that ended in June 2012, the country’s finance…
Dollar-Bond Yield Falls Most Since Revolution
Benchmark dollar-bond yield declined the most since the early days of last year’s uprising. The yield on the 5.75…
Egypt’s Finance Minister Votes, Sees Higher Growth Rates Soon
Momtaz El Saeed, Minister of Finance, has voted in the runoff elections Saturday in Sayyeda Zeinab. El…
New Budget Allocates EGP 285 Bln To Social Expenditure Programs
Momtaz El Saeed, Minister of Finance, affirmed on the government’s concern to ease the burden on low-income people…
MOF Allocates US$ 100 Mln For Petroleum Products
Momtaz El Saeed, Ministry of Finance, announced that the Ministry allocated US$ 100 million to the Ministry of…
Finance Ministry Allocates 1 Bln For Paying Dues To Wheat Farmers
Momtaz El Saeed, Minister of Finance, allocated EGP one billion to the Ministry of Supply and Internal Trade to pay…
CBE Sells US$1.013 Bln of Dollar- Denominated T-Bills, Exceeding Target
Central Bank of Egypt (CBE) sold US$1.013 billion of dollar - treasury bills today, exceeding its US$750 million…
Egypt To Sign $3.2 Bln IMF Loan By June: Momtaz El-Saeed
Egypt expects to sign a $3.2 billion loan with the International Monetary Fund around the beginning of June, said…
Draft Budget Reduces Deficit To 7.9% of GDP
Egypt’s draft budget for the fiscal year that starts in July forecasts reducing the budget deficit to 7.9 percent…
CBE Offers EGP 3 Bln T-Bills As Government Prepares Budget
Egypt will offer EGP 3 billion ($497 million) of treasury bonds after the government formed a committee to audit…
“Private Funds” To Be Transferred To A Unified Account
Momtaz El-Saeed, minister of finance, said that prime minister’s decision to freeze private funds and accounts with…
Bankers: Political Powers Support For US$ 3.2 Bln IMF Loan Is A Must
Bankers affirmed the statements of Jerry Rice, press secretary of International Monetary Fund, that IMF conditioned…
Ministry of Finance Offers EGP 5.5 Bln T-Bills
Ministry of Finance plans to sell 5.5 billion Egyptian pounds ($911 million) of bills today as an impasse between…
MOF To Facilitate Foreign Investments
Momtaz El Saeed - Minister of Finance- assured that the government is very keen on providing all of the…
266-day treasury bills’ yield reaches EGP 5.4 bn
Ministry of Finance announced today that the 266-day treasury bills were sold for EGP 5.4 billion. On its website,…
MP: $3.2bn IMF loan to Egypt shall be approved first by Parliament
Freedom and Justice Party approves foreign borrowing but only when necessary, Ashraf Badr El-Din, Party’s Member of…
$100m expected revenue from dollar certificates of deposit in Qatar
Mahmoud Fawzy, Egyptian ambassador in Doha, expected that dollar certificates of deposit, offered for Egyptians…
Egypt: Saudi’s Aid Into Consideration
Momtaz El Saeed, minister of finance, emphasized that the Egyptian government concerns with the funding package…
El-Saeed: submitting reform program to parliament’s committees before introduced to IMF
Momtaz El-Saeed, minister of finance, said that the prime minister Kamal El-Ganzouri will amend in the upcoming…
Ministry of Finance offers EGP 3.5 bn treasury bills in bids
Ministry of Finance offers 266-days treasury bills with EGP 3.5 billion in bids on Sunday.
Minister of finance to sign an IMF US$ 3.2 bn loan agreement next month
Momtaz El-Saeed, Finance Minister, said that the International Monetary Fund (IMF) mission will arrive in Cairo in…