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Egypt Accelerates Construction of First Nuclear Power Plant
Rosatom CEO Likhachev praised Egypt’s efforts to expedite the project, highlighting the long-standing cooperation between the two nations.
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Egypt’s total trade with AU countries reached $9.2 billion
Egypt’s total trade with African Union countries reached $9.2 billion in 2023, marking a 5.7 per cent increase from the previous year’s $8.7 billion.
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Egyptian Gulf Residents Can Soon Transfer Money to Egypt via InstaPay
Transfers will be exclusively received in Egyptian pounds, with fees determined by individual banks based on the currency and country of origin.
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Textile Exports Set to Reach USD 1.4 Billion by 2025
The projected sales shows an up-mark from USD 1.2 billion in 2023.
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Egypt's Rare Bank Privatization Brings United Bank Shares To Market
Egypt’s Central Bank embarked on a rare privatization journey by putting 30% of United Bank up for grabs – only the second such sale in four years.
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Toyota Tsusho-led group to expand wind park in Egypt to 654 MW
Gulf of Suez Wind Farm II is owned by the Toyota Tsusho Group (40%), Engie SA (35%), and Orascom Construction Plc (25%).
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EBRD extends €50 million guarantee to CIB for on-lending to Egyptian SMEs
The EBRD facility will help cover up to 50 per cent of the credit risk on as much as €50 million in financing for Egyptian SMEs originated by CIB.
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Egypt Increased Gas, Oil Production in Q3 of 2024
Badawi explained that the Ministry is working to attract more investments in the oil and gas sector, both local and international.
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Egypt in talks with foreign companies over long-term LNG purchases
Egypt is buying dozens of cargoes this year and abandoning plans to become a supplier to Europe amid a steep decline in domestic gas output.
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Egypt Awards Licenses to Boost Call Center Sector and Digital Outsourcing
Egypt grants licenses to seven companies, boosting the contact center sector and solidifying its position as a global hub for digital services.
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Egypt intends to convert vehicles to run on natural gas
He highlighted the cost efficiency of natural gas compared to traditional fuels, its environmental benefits, and its increased availability.
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Egypt’s Qara secures $2.6 million to propel KSA expansion plans
Qara empowers producers with a fully integrated digital platform to ensure product authentication and full traceability to the end consumer.
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Machinery tops Egypt's imports from G20 countries in 2024
The value of Egyptian imports from the G20 amounted to about $46.6 billion during the mentioned period, compared to $40.7 billion.
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Fitch Ratings upgrades 4 Egyptian banks IDRs
Fitch Ratings has raised the Long-Term Issuer Default Ratings (IDRs) of the largest four banks in Egypt following the recent upgrade.
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Remittances from Egyptian nationals in KSA, USA record the highest during 9 months of 2024
In contrast, the value of remittances from G20 workers in Egypt amounted to about $215.6 million during the fiscal year 2022/2023.
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Egypt’s petroleum sector sees growth with new projects & investments
Egypt has also unveiled new opportunities through its Digital Exploration Portal and partnered with global firms to reduce production costs.
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UAE’s Modon, Egypt’s Hassan Allam sign MoU on major construction projects in Ras El-Hekma
The two companies will explore opportunities to enhance utilities and infrastructure, with a specific focus on delivering sustainablity and resilience
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Egypt’s inflation remains stable for third month straight
Annual nationwide headline inflation increased to 26.3 percent in October 2024, up from 26 percent in September 2024.
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Minister of Environment to co-lead climate finance talks at COP29 in Baku
Fouad highlighted her commitment to focusing on the financial needs of developing nations and those most vulnerable to the impacts of climate change.
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JBIC interested in funding Japanese green hydrogen projects in Egypt
The funding would be provided either directly or through partnerships with Arab funds operating in Egypt.
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Egypt ranks among top 3 countries in entrepreneurship in MENA
The ICT sector has significantly contributed to GDP in recent years. In 2023, the sector constituted 5.8 percent of GDP.
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Egypt launches production line of Chinese-made Exeed cars
Egypt launched the production line of the Chinese-made Exeed cars on Sunday at the Egyptian-German Automotive's (EGA) factory in the Sixth of October.
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Orange Egypt Commits USD 52.7M to Power African Startups
Orange Egypt has invested USD 52.7 million to boost startups across Africa, focusing on youth-driven innovation.
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NTRA Prepares for Telecom Price Adjustments Amid Rising Operational Costs
Shamroukh attributed the proposed price hike to the escalating operational costs faced by telecom providers.
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Iraq may build a railway from Basra to Egypt’s Sharm El-Sheikh
This initiative reflects ongoing efforts to improve regional transport links and could play a crucial role in fostering economic ties between them.
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IFIs supported Egypt's NWFE energy projects with over $2.5 bln in past 2 yrs
Egypt secured more than $2.5 billion from International Financial Institutions (IFIs) to finance the private sector's energy projects over 2 years.
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Egypt's parliament to review 'unconstitutional' decades-old rent law
Egypt's Supreme Constitutional Court has annulled the first two articles of the law regulating the tenant-landlord relationship, dubbed 'the old rent.
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Swvl’s USD 4.2M Contracts boost Egypt’s Booming Mobility Market
Swvl secured USD 4.2 million in new contracts in Egypt, boosting its footprint across industries like FMCG and telecom.
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The Grand Egyptian Museum in Cairo opens 12 new galleries
Two decades after the start of construction work, the final opening of the world's largest museum is drawing ever closer.
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NASR, Al Safy Group sign EGP 500 mln deal to manufacture cars locally
This partnership will contribute to the country’s long-term economic growth and industrial development by meeting domestic market demand and expanding
