News
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Egypt halts fertilizer production as Israeli gas disruptions deepen energy strain
A sharp drop in Israeli gas imports forces major Egyptian fertilizer firms to suspend operations, threatening exports and economic stability.
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AfDB approves $184.1 million for Africa’s largest solar project in Egypt
AfDB funds Egypt’s Obelisk solar project with $184.1M, launching Africa’s largest solar plant with 1GW capacity and 200MWh storage in Qena Governorate
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Egypt to launch two new oil wells this June, adding 5,400 barrels daily
Egypt to boost oil output by 5,400 barrels/day with two new wells, aiming to stabilize domestic supply and reduce reliance on imported crude.
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Automotive market sees surge in sales in April led by passenger vehicle segment
Egypt’s auto market rebounds with April sales up 117.7% YoY, led by passenger cars and trucks, signaling recovery from earlier supply chain shocks.
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Damietta Port bolsters Egypt’s hub vision with 5 giant cranes for Tahya Misr 1 terminal
Damietta Port receives 5 mega cranes for Tahya Misr 1 terminal, boosting Egypt’s logistics capacity and global shipping competitiveness.
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Red Sea land allocated for sukuk issuance, not sold
Egypt allocates Red Sea land for sovereign sukuk, aiming to reduce debt, boost investment, and fund development without selling state assets.
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Financial position of banks in Egypt rises to EGP 22.039trn in February 2025
Egypt’s banking sector hits EGP 22.039 trillion in assets, driven by rising deposits and credit facilities, signaling robust financial system growth.
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Industrial hub for bridge parts to be established in Egypt
SAMCO teams up with Germany’s Maurer to localise production, boost export capacity, and train Egyptian engineers.
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Egypt and Saudi Arabia move closer to Red Sea bridge linking Africa and Asia
The proposed link would connect the city of Sharm El-Sheikh with Ras Alsheikh Hamid in Saudi Arabia, crossing over or under the Red Sea via Tiran.
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Egypt unveils 10-year investment plan for healthcare sector
Madbouly opened the session by reiterating the government’s focus on attracting investment to sectors with high growth potential.
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Egypt to establish floating LNG station in Ain Sokhna to support electricity stability
This will contribute to stabilizing supplies during peak consumption periods, as part of its ongoing efforts to secure its energy needs.
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Cairo Solar aims to build two renewable energy plants in Dabaa
The two facilities are expected to have a capacity of 1.000 kilowatts each.
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Teaser released for the opening of Grand Egyptian Museum on July 3
All preparatory work is underway, both inside the GEM and in the surrounding area.
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Egyptian foreign trade surges in H1 of FY2024/2025 as imports climb
Trade activity with Egypt’s top 14 partners made up 67.9 percent of the total foreign trade, amounting to $44.109 billion.
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Egypt Achieves 3.1 Percent Primary Surplus Highest Since 2005
Kouchouk emphasized that Egypt’s economy is showing clear signs of improvement, with the private sector playing a leading role in the recovery.
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Egypt seeking FDI boost with tourism sector investment opportunities
This aligns with Egypt’s goal of attracting 30 million tourists annually by 2028, aiming for a 25 percent to 30 percent year-over-year increase.
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Egypt’s appetite to buy LNG impacts global market
It is already seeking a high number of cargoes this year, as well as planning further imports between now and 2028.
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Sisi Allocates 174M sqm of State Land to Support Debt Reduction and Sovereign Sukuk Plans
According to data reviewed by Al Arabiya Business, Egypt's external debt declined by $111 million in Q4 2024, settling at $155.09 billion by year-end.
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Ministry of Health Activates Summer Healthcare Plan Across North Coast
Mobile clinics, inspections and upgraded hospitals mobilised to meet seasonal tourism surge.
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Egypt launches first comprehensive study on investment in Africa
Egypt’s investments in Africa currently exceed $14 billion, according to previous remarks by Foreign Minister Badr Abdelatty.