A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
February 19 to February 25 Coverage:
Saudi investments in Egypt has reached a total of $54 billion; $44 billion were pumped through Saudi companies or companies with Saudi partners, and $10 billion were invested via the kingdom’s Public Investment Fund (PIF), according to Al Borsa News.
Trade exchange between Egypt and the US recorded $6.5 billion in 2018, according to Arab Finance.
The Egyptian Exchange (EGX) achieved gains this week, recording EGP 8 billion increase in market capitalization, a week after the Central Bank of Egypt (CBE) cut interest rates, according to Al Mal News.
The General Authority of Free Zones (GAFI) adopted new measures to serve investors through facilitating measures of advanced financial reviews for the EGX-listed companies and companies that have their accounts audited by the Accountability State Authority, according to Arab Finance.
Egyptian exports to Africa reached $1.2 billion in 2018. The Africa Relations committee at the Egyptian Businessmen Association (EBA) currently studies increasing exports to Africa, according to Al Borsa News.