News
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Egypt aims to increase renewables’ contribution to energy mix to 60 by 2040
The recently-approved strategy focuses on increasing reliance on renewable energy sources, and rationalizing the use of traditional energy.
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SCZone, Arab-Brazilian Chamber explore new logistics hub in Egypt
El-Din highlighted SCZone's strong international competitiveness and its access to a range of global trade agreements.
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GEM CEO: Cairo one of world’s oldest capitals, must be preserved
Cairo has a long history as a sprawling capital and is one of the world’s oldest capitals.
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Fitch upgrades Egypt's credit rating to B with stable outlook
Fitch Ratings announced on Friday that it has upgraded Egypt's long-term foreign-currency Issuer Default Rating (IDR) from B- to B, with a stable.
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IMF’s projects Egypt’s Inflation to cool to 16% by the end of FY2024/2025.
IMF forecasts that Egypt’s inflation rate will decelerate to a notable 16 percent by the conclusion of the fiscal year 2024/2025, which ends in June.
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Manufacturing and extractive industries index slips in August
The index, excluding crude oil and petroleum products, registered at 111.44, a slight decrease of 0.01 percent from July's final figure of 111.45.
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Egypt, Somalia mull boosting agricultural cooperation
The meeting took place on the sidelines of the Regional Forum on Accelerating the Transformation of Food Systems in the Arab Region.
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PwC: Egypt’s M&A landscape is showing signs of recovery
Maye Ayoub, a Cairo-based partner in the firm’s Deals practice, walks through the latest developments in the M&A scene.
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Sumitomo Electric Egypt to €22M open wiring harness manufacturing plant
Minister El-Khatib confirmed the plant’s grand opening is scheduled for the first quarter of 2025.
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FM holds cooperation talks with his Ugandan counterpart
Talks between both ministers took up a number of issues of mutual interest and promising areas of cooperation between the two countries.
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Egypt signs MoU with Elsewedy Electric for $500M Subsea Cable Factory at Damietta Port
Egypt and Elsewedy Electric sign a $500 million MoU to establish a subsea cable factory, enhancing the country's industrial capabilities.
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Twelve halls in the GEM display artifacts from prehistoric times to Roman era
The 12 newly opened halls boast a stunning appearance mimicking the ancient Egyptian civilization throughout its various royal eras.
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InstaPay app issues urgent notice to its users regarding winter time
According to Law No. 24 of 2023, winter time in Egypt will begin at midnight on Thursday, October 31st.
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Egypt’s bold 2030 Vision to transform the energy sector
Eng. Karim Badawi, Egypt’s newly-appointed Minister of Petroleum and Mineral Resources, shares his vision for the energy sector.
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Fair fuel products pricing vs inflation in Egypt
The Ministry of Petroleum and Mineral Resources recently announced a significant increase in fuel prices, marking the third adjustment in 2024.
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Japanese Sumitomo Electric €22 mln plant in Egypt to start operation in November
Japanese Sumitomo Electric Egypt will commence operating its plant for manufacturing electrical wiring harnesses for cars and vehicles, valued at 22m.
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Egypt signs MoU with DP World to explore development of 500-acre public free zone
This initiative aims to target key industries such as electronics, automotive, apparel, and footwear.
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Egypt approves $158.6M Draschem project to localize specialized chemical production
The project aims to develop a high-impact investment in the chemical sector, signaling strong confidence in Egypt’s vibrant economy.
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Egyptian perspective on a key mechanism in resolving double taxation disputes
A MAP allows taxpayers to seek relief from double taxation by requesting negotiations between tax authorities.
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Canada Egypt Business Council hosts diplomatic discussion on economic cooperation
They focused on attracting Canadian investments to Egypt and supporting Egyptian companies exporting to Canada.