News
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Egypt agrees to 10 new IMF conditions
IMF led by Ivana Vladkova Hollar, issued a statement at the conclusion of its visit to Egypt, which lasted from November 6-20.
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SCZone lays foundation for $51 mln Turkish Eroğlu project in Egypt
Suez Canal Economic Zone (SCZone) has laid the foundation for the Eroğlu Egypt for Ready-Made Garments project, valued at $51 million.
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JA Solar plans 2 GW solar cell, module factory in Egypt
Chinese manufacturer JA Solar has agreed to build a 2 GW solar cell and module factory in Egypt with support from UAE-based Global South Utilities.
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Orange Egypt Unveils 5G, AI, Smart City Innovations at Cairo ICT 24
Visitors to Orange Egypt's pavilion had the opportunity to explore the company's $135 million "New Administrative Capital Data Centre" project.
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SCZone, Orascom sign EGP 12.87 bln land use agreement for industrial expansion
This expansion is the latest phase of Orascom’s successful investments in the Sokhna Industrial Zone, which spans 10 km².
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UAE plans gigawatt-scale solar, battery projects in Egypt
The agreements focus on strengthening strategic collaborations in vital areas such as industrial development and renewable energy production.
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Egypt FRA launches 1st regulatory sandbox to support fintech
This is the first regulatory sandbox in the non-banking financial sector to foster startups' growth with innovative digital solutions.
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Calls to revoke decision to increase phone and internet prices
Khadraoui called on the government to intervene quickly to stop any new increases in mobile and internet service prices.
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ITIDA, Plug & Play sign MoU to empower 60 tech startups in Upper Egypt
ITIDA has launched the Invest IT programme with Flat6Labs to support tech-enabled startups.
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Egypt, Russia mull ways to increase climate funding
Environment Minister Yasmine Fouad has held a meeting with a Russian delegation to discuss means to enhance climate funding effectively.
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2,500-year-old lost city found hidden off the coast of Egypt
The sunken city of Thonis-Heracleion, Egypt’s largest port before Alexandria, shows its lost history through ongoing underwater excavations.
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Egypt's stray dogs become tourist attraction
A paraglider's footage of a stray dog scaling the Great Pyramid has gone viral. Tourists who have seen the video have flocked to see the dogs.
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Egypt Accelerates Construction of First Nuclear Power Plant
Rosatom CEO Likhachev praised Egypt’s efforts to expedite the project, highlighting the long-standing cooperation between the two nations.
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Egypt’s total trade with AU countries reached $9.2 billion
Egypt’s total trade with African Union countries reached $9.2 billion in 2023, marking a 5.7 per cent increase from the previous year’s $8.7 billion.
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Egyptian Gulf Residents Can Soon Transfer Money to Egypt via InstaPay
Transfers will be exclusively received in Egyptian pounds, with fees determined by individual banks based on the currency and country of origin.
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Textile Exports Set to Reach USD 1.4 Billion by 2025
The projected sales shows an up-mark from USD 1.2 billion in 2023.
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Egypt's Rare Bank Privatization Brings United Bank Shares To Market
Egypt’s Central Bank embarked on a rare privatization journey by putting 30% of United Bank up for grabs – only the second such sale in four years.
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Toyota Tsusho-led group to expand wind park in Egypt to 654 MW
Gulf of Suez Wind Farm II is owned by the Toyota Tsusho Group (40%), Engie SA (35%), and Orascom Construction Plc (25%).
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EBRD extends €50 million guarantee to CIB for on-lending to Egyptian SMEs
The EBRD facility will help cover up to 50 per cent of the credit risk on as much as €50 million in financing for Egyptian SMEs originated by CIB.
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Egypt Increased Gas, Oil Production in Q3 of 2024
Badawi explained that the Ministry is working to attract more investments in the oil and gas sector, both local and international.