LONDON, July 3 (Reuters) - Egypt's dollar-denominated

government bonds rallied on Wednesday, as the government

announced a long-awaited cabinet reshuffle including a new

finance minister.

State television reported that Ahmed Kouchouk would become

finance minister, tasked with turning around a stumbling economy

and dealing with punishing inflation and chronic currency

shortages.

Egypt's longer-dated bonds gained the most, with the 2049

maturity trading up as 1.55 cents at 75.69 cents by 1015 GMT.

The moves also came after Egypt's Talaat Moustafa Group

(TMG) announced plans on Tuesday to invest $21 billion in a

tourism development on the country's Mediterranean coast. It

followed Abu Dhabi's $24 billion plan for Ras El Hekma on the

north coast earlier in the year.