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Egypt ranks 2nd for budget transparency in MENA survey
Egypt has ranked second, following Jordan, for budget transparency across the Middle East and North Africa (MENA) region.
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Contact Pay, eKhales expand partnership to offer PoS payment solutions
This partnership enables Contact customers across the country to conveniently settle their payments via eKhales’ expansive partners network of PoS.
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Developing Egypt priority industrial sectors requires EGP 7.7 bln loan
Minister of Industry and Transport Kamel El-Wazir said that developing the industrial sectors that the government prioritizes requires a loan.
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Minister of Electricity and Dutch Ambassador discuss green hydrogen
This meeting comes after several important developments in the growing economic relationship between Egypt and the Netherlands.
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Egypt’s food industry exports hit $5.1bln in 10 months
The increase of $770 million in the first 10 months of 2023 reflects the highest growth rate and export value in the sector’s history.
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Egyptian government dues owed to pharma firms hit EGP 50 bn
The pharma sector is set to implement phased price hikes affecting around 100 drugs per month.
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Nissan Egypt to invest $45M to expand local production, increase exports
The new model will feature a local component ratio exceeding 54%, supporting the company’s goal to enhance domestic production.
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IMF’s METAC high-level event concludes in Egypt
Azour noted that METAC was designed to be a key reform partner and a bridge to IMF headquarters.
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Egypt, Saudi Arabia discusses mutual cooperation in farming domain
The two sides also addressed key mutual issues during the 16th Conference of the Parties to the UN Convention to Combat Desertification (COP 16).
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Egypt to announce plan for listing up to 4 Armed Forces-affiliated companies
In October 2019, President Abdel-Fattah El-Sisi emphasized the importance of listing Armed Forces-owned and managed companies on the stock exchange.
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Egypt central bank joins Pan-African Payment and Settlement System
CBE revealed in a statement on Tuesday that it signed an agreement in November to join the Pan-African Payment and Settlement System (PAPSS).
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22,000 tons of goods handled at Red Sea ports
In a statement, the RSPA said imports included 7,500 tons of goods, 463 trucks and 485 cars.
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Kuwait extends $2B deposit to Egypt until 2025
Another Kuwaiti deposit of equal value is scheduled for repayment in September 2024, according to the bank's data.
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Egypt’s PMI edges closer to 50.0 growth threshold in November
Egypt’s Purchasing Managers' Index (PMI) for the non-oil business sector rose for the second consecutive month to reach 49.2 points in November.
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Reopening of Egypt's lake Qarun brings hope to fishermen
After years of closure due to pollution and ecological collapse, Egypt's Lake Qarun in Fayoum province has reopened for fishing.
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Egypt’s central bank withdraws LE 1.033T in liquidity
The CBE had earlier introduced revised guidelines for its weekly main deposit operations, previously conducted through fixed-rate tenders.
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Egypt records increase in exports of chemical and fertiliser products in 2024
Exports of petrochemical products also showed growth, increasing by 71 per cent to US$1 billion, while exports of glass products increased by 22 %.
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Low-, middle-income countries to experience acute impact due to 2023 economic slowdown
The global economic slowdown in 2023 is expected to have a particularly acute impact on countries already struggling with elevated debt.
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AL: Unwavering support to Egypt’s water rights
The AL is providing all forms of support to Egypt and other Arab countries in order to preserve their water rights, Maliki said.
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British Petroleum to begin production from new well in Egypt by Q1 2025
BP CEO Murray Auchincloss announced that BP plans to commence production from a new well in Egypt by the first quarter of 2025.
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Egypt eyes global bidding for planning area around the Pyramids
The area is the one surrounding the Pyramids and the Grand Egyptian Museum (GEM), up until Sphinx Airport to the north and Dahshur to the south.
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Egypt's parliament approves €1B MOU with EU to bolster economic support
This collaboration will also strengthen European investments in key sectors such as renewable energy, green hydrogen, and food security.
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Egypt’s Nowlun closes $1.7 million Seed round
Egypt-based logistics startup Nowlun has raised $1.7 million in seed funding, led by Nama Ventures and A15.
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Egypt, Jordan Enter New Agreement to Use Egyptian LNG Infrastructure
This collaboration aims to secure supplies and achieve mutual benefits by optimizing the use of existing infrastructure.
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Egypt Unveils Startup Sync: Communication Hub for Entrepreneurs
The platform offers financial backing, expert advice, and partnerships to boost startup competitiveness.
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Arab Ministerial Council for Electricity selects Egypt as current term president
This selection underscores Egypt's pivotal role in supporting Arab cooperation within the framework of the Arab League.
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173,000 tons of Egyptian food products exported on November 23-29
Citrus was in the lead of exported fruit list with 18,000 tons exports to be followed by strawberry at 5,000 tons.
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Seafood Exports From Egypt to Europe Resumed
The resumption follows the implementation of a monitoring system, ensuring quality control from source to market.
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Algeria, Egypt Discuss Energy, Mining Collaboration
Potential areas for collaboration include oil and gas exploration, infrastructure development, power stations and mineral resource utilization.
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BP's volume of investments in Egypt during 60 years reaches $30B
Auchincloss highlighted BP’s plans to begin production from several wells, with one expected to start operations in the first quarter of next year.
