News
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Egypt tourism revenues to grow by around 8% in Q4 2024
Egypt's tourism revenues are projected to grow by seven to eight percent by the end of 2024, according to Amr El-Kady, CEO of the ETA.
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Volume of trade exchange bet. Egypt, Malaysia increases by 55%
Key exports include phosphate, fertilizers, agricultural goods, and iron, reflecting the strong and expanding trade relationship between the 2 nations
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Egypt recovery hinges on inflation, debt control and investment
World Bank (WB) Chief Economist for the Middle East and North Africa (MENA) Region Roberta Gatti discussed the latest forecasts.
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Egypt, Azerbaijan forge stronger economic ties in pharmaceuticals
Madbouly expressed Egypt’s goal to deepen trade and investment exchanges and broaden cooperation in key sectors.
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United Bank eyes raising up to EGP 5.1 bln in EGX offering
The United Bank (UB) is aiming to raise between EGP 4.16 billion and EGP 5.14 billion in the upcoming initial public offering (IPO) on the EGX.
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Egypt’s balance of gold in foreign reserves at US$ 11 billion
The CBE said that this balance was at US$9.384 billion, equivalent to about LE448 billion, at the end of April, and the increase is about LE 101 bln.
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Egyptian Competition Authority approves Emirates ADQ acquisition
The Egyptian Competition Authority (ECA) announced on Sunday the approval of Emirates ADQ, acquiring stakes in three Egyptian oil companies.
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Egypt to build $20 mln PET recycling plant
The plant, which will be completed in the first half of 2025, is based in Sokhna Industrial zone, which is governed by the Suez Canal Economic Zone.
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Egypt expat remittance inflows surge by 65.5% in August
Egyptian expat remittance inflows into the country surged to approximately $2.6 billion in August, compared to $1.6 billion in August 2023.
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QatarEnergy acquires 23 percent interest in North El-Dabaa
Under the agreement, QatarEnergy will acquire a 23 percent interest, while Chevron, the operator, will retain a 40 percent interest.
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Italian Eni to drill two new gas wells in Zohr field
Italian Eni company will drill two new gas wells in the Zohr field, according to CEO Claudio Descalzi, as reported by Al Arabiya.
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Egypt has recovered 67 artifacts from Germany
These pieces were seized from a tomb in Saqqara area, and there is cooperation from European countries to return the smuggled artifacts.
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Telecom Egypt, Vodafone sign EGP 30 bln deals for 5G tech deployment
The minister noted that 5G services require a robust fibre-optic network to connect the towers, which offer this new technology.
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EBRD guarantee to QNB Egypt to unlock €70 million for small firms in Egypt
The agreement was signed by Jürgen Rigterink, EBRD First Vice President, and Mohamed Bedeir, QNB-Egypt Chief Executive Officer.
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El Gouna, Egypt: An Investor’s Nirvana on the Red Sea
That meticulously selected hotspot is a home to a bustling, multicultural community of around 25,000 people from over 50 different nations.
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Egypt sets goal to increase entrepreneurship investments to $5 Billion
To address challenges and drive growth, Madbouly announced the establishment of a ministerial group dedicated to entrepreneurship.
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Egypt reduces mobile phone imports by 99.9% in H1
Egypt reduced its mobile phone import bill from $1.6 billion in 2021 to $1.65 million—a staggering 99.9 percent decrease—in the first half of 2024.
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Egypt’s IMF Debts Represent 69% Of Total Arab Countries' Obligations
Egypt's total obligations to the IMF hit $13.2 billion , exceeding the combined IMF debts of eight Arab countries.
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New Egypt Metro Line to Use International Tender
Cairo Metro Line 6 is planned to span 34 kilometres, with 26 stations connecting northern Cairo to southern districts.
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Egypt Launches Sustainable Aviation Fuel Company
ESAF further supports Egypt’s strategy for a gradual shift toward a greener economy, enhancing investment opportunities in sustainable energy.