News
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Russia Shifts Egypt’s Dabaa Nuclear Loan Repayments to Ruble
Rosatom is collaborating with local suppliers in the project, with the goal of reaching a local content share of 20–25% in 2028.
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Egypt awards int'l energy companies 6 exploration blocks to boost investment
Egypt awarded six new exploration blocks to top international energy companies, expecting to attract $245 million in fresh investment
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Juhayna sees 37.3% YoY lower consolidated profits in Q1 2025
The quarterly earnings were lower by 37.36% year-on-year (YoY) than EGP 478.333 million.
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HMZ Group launches ‘Joint’ furniture manufacturing arm with $4m Investment
The launch coincides with the inauguration of the Joint Plant, a state-of-the-art factory located in the 6th of October Industrial Zone.
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EgyptAir suspends flights to Gulf region
EgyptAir announced the temporary suspension of flights to the entire Gulf region, with the exception of Jeddah, Medina, and Qassim in Saudi Arabia.
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Egypt’s President reviews energy plan, stresses renewables and localisation
The discussion covered the development of Egypt’s energy mix, the use of renewable energy and storage batteries.
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Egypt’s agricultural sector sees strong growth with 5.2M tons exported in H1 2025
Minister of Agriculture and Land Reclamation, Alaa Farouk, had previously announced that by the end of May, exports had already hit 4.8 million tons.
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Egypt key in ADNOC Distribution regional expansion strategy
In 2023, ADNOC Distribution acquired 50 percent of TotalEnergies Marketing Egypt (TEME), underscoring a belief shared by both of our companies.
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Beltone Leasing mobilizes 20 million USD to support sustainable loans in Egypt
The financing is evenly split between the two funds, each providing 10 million USD.
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Egypt signs contract with China’s Hantong Shipyard to build 2 KAMSARMAX vessels
Each of the two ships will have a total tonnage of 82,000 tons, with a length of 229 meters, width of 32.26 meters, and draft of 14.5 meters.
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Aria Ventures launches $1 million fund to bolster deeptech investment in Egypt
Aria Ventures operates as a venture studio, concentrating on Deep-Technology innovation across diverse sectors.
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Amazon Backs Egypt’s Valu with Equity Stake Following EGX Listing
The move comes amid growing international investor interest in Egypt’s financial sector, despite persistent regional macroeconomic headwinds.
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Prime Minister revokes industrial electricity discount as of 1 July
The revocation reflects the government’s renewed focus on public spending reform and fiscal consolidation, amid mounting financial pressures.
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Citrus tops list of Egyptian agricultural exports, recording 1.8M tons
Citrus and potato crops continuing to dominate the list of Egyptian agricultural exports so far.
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Egypt unveils plan for new desert city megaproject
While officials say these projects are key to Egypt’s long-term growth, they have also contributed to the country’s soaring foreign debt.
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Mobile phone subscriptions in Egypt hit 120mln in 2024
This is accompanied by more than 10% growth in mobile internet usage compared to the previous year.
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Egypt invests EGP 2t to overhaul transport sector
The railway upgrade plan, worth around 225 billion pounds, includes the purchase of 110 new locomotives from General Electric and signalling system.
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CBE announces bank holidays in Egypt
Sunday that all banks will be closed on Thursday, 26 June, for the Hijri New Year and on 3 July for the 30 June Revolution anniversary.
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Egyptian artists ride streaming wave to global success
The report highlights a fivefold increase in royalties earned by Egyptian artists on Spotify since 2022, with a 100% jump from 2023 to 2024 alone.
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Egypt assumes vice presidency of the International Gas Union
Khaled Abu Bakr: The Egyptian program to promote global energy as a basis for economic and social growth is set to be activated.