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Egypt seeks to curb 2025 car imports
This would cap monthly imports at 8,000 cars, a significant reduction from the 90,000 cars imported last year.
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Egyptian-Japanese Business Council, UNDP strengthen cooperation for development
The discussion focused on the localization of automotive production in Egypt and the challenges faced by the sector.
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Madbouly’s economy
For example, has he decided on salary increases every three months at the same rate as the increase in energy and fuel prices?
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Egypt sees positive portfolio inflows amid debt, inflation challenges
Egypt's portfolio flows have been net positive in recent months, with significant inflows into local currency bonds despite the ongoing debt challenge
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President Sisi heads to Russia to participate in 16th BRICS Summit
This is the first time, Egypt participates in the BRICS Summit after it has officially joined the economic bloc in early 2024.
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Egypt’s surges IFC’s capital by $28.9M to boost private sector financing
The IFC invested over $9 billion in Egypt, with an active portfolio of $2.3 billion spread across various sectors, including trade finance and health.
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House of Representatives approves Egypt contribution to capital increase of IFC by $28.9 mln
The House of Representatives has approved Egypt's contribution to the capital increase of the International Finance Corporation (IFC) through a stake.
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Egypt’s Raya Holding approves Helios offer for 49% stake in Raya Foods
Helios is the largest Africa-focused private investment firm with over $3.5 billion in assets under management.
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FRA grants Beltone Capital license to launch country’s 2nd credit rating agency
With this approval, Beltone, in collaboration with its partner CRIF will establish Egypt’s second credit rating agency.
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Gambia aims for cooperation with Egypt on pharmaceuticals, fisheries
Ambassador Aref gave an overview of the leap achieved by Egypt in the pharmaceutical industry, affirming readiness for bilateral cooperation.
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Egypt to allocate exceptional allowance for pensions and salaries
Egypt awaits the fourth review of the Extended Fund Facility (EFF) loan programme in November, which will grant access to a $1.3 billion tranche.
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President al-Sisi handed over copy of national strategy for population
The conference is a global gathering of medical professionals, bringing together 37 specialties to share cutting-edge developments in healthcare.
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Egypt signs 4 MoUs with int'l companies to enhance oil cooperation
Egypt signed four memorandums of understanding (MoUs) and cooperation agreements with international companies to enhance oil cooperation.
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Egypt’s government reveals plan for fuel prices until end of 2025
Madbouly said: “We are have to gradually increase fuel prices until the end of 2025,” noting that there will be no increase for the next six months.
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Gov’t refutes rumors about removing 5 items from subsidized commodities
The IDSC had contacted the Ministry of Supply and Internal Trade that dismissed these rumors as groundless.
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Prime Minister reviews progress of export burden refund program
Starting from July 1, 2024, the minimum local content for exports benefiting from the program will be set at 35 percent, with increases planned.
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SCZONE ready to cooperate with Community Business Hong Kong
This came during Gamal el Dein’s meeting with a high-level delegation of the governmental, economic and legal institutions in Hong Kong.
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Air Arabia Egypt Introduces Exciting New Route Between Cairo and Kuwait
The flight schedule for this route to and from Kuwait will commence on January 14, 2025.
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Pressure from loss of Suez Canal revenue pushes Egypt to consider IMF deal review
The International Monetary Fund this year approved a $5 billion top-up to an agreed $3 billion loan for the Arab world’s most populous nation.
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Orange Digital Centers for Women: A Success Story
Since its launch in 2017, in partnership with the Childhood and Development Association in Asyut, the initiative has expanded significantly.
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Egypt Cuts 2040 Renewable Energy Target to 40%
Egypt has revised its renewable energy target for 2040 down to 40% from a previous goal of 58%, shifting focus to natural gas.
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Egypt steadily moving towards more balanced tax system
The reforms are intended to create a fair and stable tax environment that eliminates barriers for taxpayers, treating them as partners in the process.
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Egypt expects to see rising number of Chinese tourists
The tourism departments of China and Egypt have recently agreed to set up a working group to foster the personnel and cultural exchanges.
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No fuel price Increases until the end of 2025 if global price stabilizes
If global prices stabilize at an average of $73 per barrel, there will be no further hikes until the end of 2025.
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Egypt’s EV ambitions: Opportunities, challenges on the road ahead
As the world pivots toward greener transportation, Egypt has been eyeing becoming a key player in the global electric vehicle (EV) market.
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El-Sisi Highlights Economic Challenges and Achievements at Global Conference
El-Sisi noted that the Egyptian government adopted a strategic approach based on balanced, integrated, and interconnected solutions.
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Egypt Reaps USD 4.04 Billion from Agricultural Exports in 10 Months
Egypt’s agricultural exports exceeded 6.9 million tons between 1 January and 16 October of 2024, according to the Minister of Agriculture.
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Gold breaks above $2,700 to record high
Gold prices hit a record high above $2,700 on Friday as traders piled into the safe-haven commodity at a time of heightened geopolitical uncertainty.
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Egypt is certified malaria-free by WHO
Egypt is the third country to be awarded a malaria-free certification in the WHO Eastern Mediterranean Region following UAE and Morocco.
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Egypt looking to issues new green bonds and Sukuk by end of fiscal year
This is part of a broader strategy to diversify financing sources and attract both investors and savers to the local debt market.