A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering March 20th to March 26th.
Egyptian President Abdel Fattah El Sisi has ratified the Capital Market Law, a piece of legislation which will set up a commodities exchange, allow investors to trade futures, and decrease listing fees on the Egyptian Exchange, Amwal al Ghad has reported.
The Egyptian Endowment Authority has increased the amount it will invest in the upcoming initial public offerings of Egyptian state-owned companies to EGP 3-4 billion, Al Mal has reported.
President of the American Chamber of Commerce in Cairo Tarek Tawfik has lauded the Egyptian government’s “bold decision” to implement its economic reform program, Al Ahram has reported.
Egyptian Foreign Minister Sameh Hassan Shoukry has announced government plans to increase the amount of Indian investment in the country and enhance cooperation with Indian businesses, according to Al Mal.
Egyptian exports to the European Union increased 24% in 2017 to reach €7.5 billion compared to €6.3 billion in 2016, according to Xinhua.
Egypt has signed an agreement with 44 other African countries that aims to create a pan-African Continental Free Trade Zone (CFTZ), the Ministry of Trade and Industry has announced.
Falling yields are reducing the competitiveness of Egyptian short-term treasuries for emerging market debt investors, Reuters has reported.
Egyptian Kuwait Holding may invest between EGP 250–300 million into National Electric Power in order to boost its output from 70 to 100 megawatts, according to Al Mal.
The Micro, Small and Medium Enterprises Development Agency will invest EGP 6 billion into Egyptian SMEs during 2018, Amwal al-Ghad reports.
The number of tourists visiting Egypt increased 36% year-on-year in February 2018 to 730,000, Al Shorouk has reported.