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European Parliament Approves €4 Billion in Financial Assistance to Egypt
The European Council is expected to vote on the decision in the coming days, paving the way for the initiation of the disbursement process.
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TMG climbs to 4th in Forbes’ Top 50 Public Companies in Egypt
The company advanced two places to secure the fourth position. The ranking reflects growth that saw the company’s sales rise to $837m from $593m.
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Over 2.4 Million People Donated Blood in Egypt Over Five Years
Egypt’s national blood transfusion services have undergone extensive upgrades over the past five years.
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Egyptian parliament approves of new national budget plan
FY2025/2026 targets real GDP growth of 4.5 percent. This represents a significant increase from the 2.4 percent growth recorded in FY2023/24.
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Egypt faces exceptional water challenges
Egypt in particular faces exceptional water challenges due to its low rainfall rates and its status as one of the driest countries in the world.
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SCZone inks $18 mln deal with Turkish company to establish spinning factory
SCZone has signed a $18m agreement with the Turkish company Ulusoy Tekstil San. Tic. A.Ş to build a yarn and spinning factory.
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Egypt pens $200mln deal with China’s Sunrev Solar to build solar energy complex in Sokhna
The project is among the largest industrial investments in renewable energy components within the zone.
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House of Representatives’ Housing Committee approves new “old rent” law
The draft law stipulates an appropriate transitional period before terminating old lease contracts.
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Egypt-Serbia Trade Triples to $300 Million Amid Strengthening Bilateral Ties
This is up from $94 million in 2022—marking a significant leap in economic cooperation between the two countries.
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Landmark arrivals cement Egypt Sokhna Port’s role in global trade: DP World
DP World Egypt has reinforced Ain Sokhna Port’s role as a linchpin in Egypt’s economic, industrial, and tourism ambitions.
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Egypt Introduces Smart Baggage Tech to 11 Airports
Egypt is modernising 11 airports with smart baggage systems and AI oversight to reduce mishandling and improve passenger flow.
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Egypt targets 4.5% growth amid regional uncertainty
Egypt’s parliament has approved the national budget for fiscal year 2025/26, which begins on 1 July.
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Egypt’s Octane raises $5.2 million to digitize fleet payments across MENA
The new funding will be used to expand Octane’s regional footprint, acceptance network, and AI capabilities, including fraud detection and route opt.
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FDIs in emerging markets, developing economies fall to lowest levels since 2005
In 2023, EMDEs collectively received $435 billion in FDI, marking a significant decline.
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$265 Million MoU Signed to Expand Branded Hotel Capacity in Egypt
This initiative is part of Egypt’s broader strategy to elevate its position as a premier global tourism and investment destination.
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IKEA Egypt recalls a kitchen gadget over safety risk
Swedish home furnishings giant IKEA issued an urgent recall in Egypt on Tuesday for its IKEA 365+ VÄRDEFULL black garlic press.
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Century Cruises growing in US and Europe, plans Egypt newbuilds
The company is expanding in Europe and Egypt, where it's investing in shipyards, with new vessels planned.
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Egypt gains ground in global blueberry trade
The IBO reported 80 hectares dedicated to Egyptian blueberries in 2022, although some dispute these figures
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Morocco’s Wafa Assurance eyes Egypt’s Delta Insurance
The Moroccan insurance company offers a price of 40 Egyptian pounds per share, valuing Delta Insurance at almost $100 million.
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Egypt sets up crisis committee to monitor repercussions of Iran-Israel war
The former Governor of the Central Bank of Egypt, Mahmoud Aboul-Eyoun, expressed his concerns about the impact on foreign exchange earnings.
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Moses Bridge to connect Saudi Arabia
Saudi Arabia and Egypt plan to build a bridge across the Red Sea, providing millions of people with direct access to the futuristic city of The Line.
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Why Chinese factories are moving to Egypt amid the trade war
A growing number of Chinese manufacturers are shifting production to Egypt as they seek relief from US tariffs on China and Southeast Asia.
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IFC committed to supporting Egypt transition to private-sector-led economy
Since beginning operations in Egypt nearly 50 years ago, IFC has invested and mobilized almost $10 billion in investment projects.
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Fertilizer companies halted after suspension of Israeli gas
Egyptian fertilizer producers suspended their activities due to reduced imports of Israeli gas, following recent production halts.
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Egypt and EIB Global set to deploy EU grant aimed at greening Egyptian economy
The Egyptian government and the EIB’s development arm have signed an accord on the use of a €21 million EU grant to decarbonise the domestic economy.
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Arab Organization for Industrialization, Stellantis sign exclusive deal to produce 240,000 cars in Egypt
Moreover, he noted that approximately 7,000 cars are scheduled for annual production over four years, totaling 28,000 vehicles.
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EGBANK and Mastercard Partner to Expand Digital Payment Solutions in Egypt
The collaboration aims to strengthen EGBANK’s strategy and reinforces its commitment to delivering convenient, seamless and secured payment experience
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Egypt signs financial closure deal with Norway's Scatec for 1 GW solar plant
The government also signed a power purchase agreement for a 900 megawatt wind project that is being developed in the Gulf of Suez with Scatec.
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Egypt Activates Emergency Gas Plan Amid Total Halt in Israeli Imports
Following the outbreak of war between Israel and Iran, Egypt suspends industrial gas supply, turns to fuel oil and diesel for power.
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Four Companies Win Egypt Bid Round for Glass, Kaolin Sand Exploration
Mineral Resources Bid Round No. 1 for 2024 concluded with positive results, attracting participation from 20 mining companies and 19 private companies
