News
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Deputy PM, Italian Amb. discuss increasing cooperation in transport field
Egypt and Italy explore expanding cooperation in the transport sector, paving the way for mutual growth in trade, logistics, and infrastructure.
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Private banks in Egypt achieve record profits in 2024
Egypt's private banks celebrate a landmark year, reaching record profits in 2024, signaling strong growth in the nation’s banking sector.
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Egypt plans to implement seven gas field projects for FY25/26
Egypt kicks off seven major gas field projects, a strategic move to boost its energy production and strengthen its position in global markets.
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Egypt's AlMasria Universal Airlines buys two more A321s
Almasria Universal Airlines expands its fleet with two new A321 aircraft, enhancing Egypt's tourism infrastructure and connectivity.
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Egypt Strengthens Tourism Ties with Germany at Berlin Fair
Egypt solidifies its tourism relationship with Germany, aiming to attract more European visitors and boost the country's travel economy.
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Federation of Egyptian Banks denies any link to ‘GRA’ platform
Egypt's Federation of Banks clarifies its stance, denying any connections to the controversial GRA platform, reassuring investors and customers alike.
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Egypt targets 20% industry contribution to economy by 2030
The National Industrial Strategy targets increasing the industrial sector's contribution to the GDP from 14 percent to 20 percent by 2030.
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Egypt was the Arab world’s top investment destination in 2024
With an investment of almost USD 12 billion, the UAE was Egypt’s largest backer, trailed by the US at USD 10.3 billion.
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Grand Egyptian Museum to open this July with grand ceremony
Top-tier preparations are underway for the opening ceremony, including arrangements at airports, hotels, and roads leading to the event venue.
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Egypt ranks third in Africa’s tech investment
Egypt ranks third in Africa’s tech investment, attracting $297M. It leads in broadband speeds, digital infrastructure, and cybersecurity advancements.
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Egypt fintech sector expands fivefold in 5 years
Egypt’s fintech sector has skyrocketed by a staggering 5.5-fold increase over the past five years, now boasting an impressive 177 startups.
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74% of eligible Egyptians actively using bank accounts
This marks a significant leap in financial inclusion, driven by several years of strategic initiatives and collaborative efforts.
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Zeekr enters Egypt as it expands into African auto market
The Zeekr 001, Zeekr's first model, was initially launched in April 2021 and currently has a starting price of RMB 259,000 ($35,510) in China.
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Egypt plans to secure $700M in investments across 13 exploration
The ministry introduced 61 investment opportunities through the Egypt Upstream Gateway, a digital platform for oil and gas exploration
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Egypt invests US$184 million to support farmers
Egypt allocated approximately US$184 million under the National Veal Project. This is reported by Daily News Egypt, a partner of TV BRICS.
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SCZone secures $125 mln deals for building 2 metal, textile factories
The project will span 35,000 square metres and is projected to generate 150 job opportunities.
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Egypt bets on $1bn Grand Museum to boost tourism
Egypt’s tourism sector will get a major boost with the opening of a $1 billion antiquities museum following decades of development.
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Egypt wants to move state-owned enterprises to its sovereign wealth fund
The government has been trying expedite the programme, seeking to sell stakes in at least 10 companies in 2025.
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Egypt to raise monthly minimum wages for public sector workers
In February 2024, the monthly minimum wage was raised by 50% to 6,000 pounds. At that time, the equivalent value was $19.
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Egypt central bank, Tanzania partner to strengthen African ties
This meeting underscores the strong historical ties between the CBE and other African central banks, particularly with the BOT.