News
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Egypt, Iraq sign protocol for cooperation in the financial market
The protocol supports the transition to a digital economy to strengthen the competitive capabilities of both stock markets.
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$14.2M Partnership to Build Over 170 Building for Eastshire Project in New Cairo
The agreement involves the construction within the second and third phases of the Eastshire project, which is owned by Al Qamzi.
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State providing all support to int'l companies to expand in Egypt
TCI Sanmar is one of the largest Indian investments operating in the Egyptian market, with an investment volume of dlrs 1.5 billion.
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Central Bank of Egypt Facilitates Bank Account Opening for Non-Resident Foreign Customers
According to the CBE’s laws, banks are currently required to open accounts for foreign customers who are not residents of Egypt if they requested.
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FX rate in Egypt projected to average EGP 49.5/$1 in 2024
BMI, a research firm associated with Fitch Solutions, forecasts a depreciation of the Egyptian pound against the US dollar.
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Egyptian exports of fresh fruit surge to $1.268B in initial 5 months of 2024
May of 2023 witnessed an upsurge in Egyptian exports compared to the preceding year, driven by the escalation in exports of key commodities.
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Infograph: Egypt PMI trend in 2024
Egypt’s S&P global Purchasing Managers’ Index (PMI) has been tiptoeing around the 50 mark for the past few months with July recording 49.7.
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Egypt to Bid for 2036, 2040 Olympics
The country previously attempted to host the 2008 Summer Olympics but failed to make the International Olympic Committee’s shortlist.
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Ticket prices for the Grand Egyptian Museum
The ministry announced the prices for Egyptians and foreigners, in addition to the museum’s working hours throughout the week.
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Egypt has no intention to ban TikTok application
Egypt has no plans to ban the Chinese-owned application TikTok, head of the House of Representatives Communications Committee.
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CBE allows non-residing foreigners to open bank accounts in Egypt
CBE directed banks in Egypt to open accounts for foreign clients who are not residents of Egypt, allowing them to benefit from the various services.
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Drug prices in Egypt spike by 25%-30%: pharma division head
Eighty to 100 pharmaceutical companies applied to the Egyptian Drugs Authority (EDA) to increase the price of medicines by an average of 25-30 percent
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Egypt, UAE Sign $3B MoU for Petroleum Logistics Projects
Egypt aims to mirror the integrated system operated in Fujairah, deploying it at Egypt’s Hamra Petroleum Port on the Mediterranean coast.
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Egypt has strong interest in growing mobile phone manufacturing industry
The government previously revealed it is looking to localize 40% of smartphone production and its total manufacturing input.
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NBK – Egypt grants EDECS $93mln funding to support container terminal development at Ain Sokhna Port
In line with the bank’s strategy to finance infrastructure and sustainable development projects.
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Egypt's merchandise exports to Saudi Arabia hit $1.587B during H1 of 2024
Egyptian exports to Saudi Arabia mainly consisted of medicines, carpets, vegetables, citrus fruits, copper, and wires.
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Egypt closer to launch of carbon certificate market
The new regulated market represents a milestone in Egypt’s environmental and financial sectors.
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Chinese firm to build $0.5B textile complex in Egypt
The complex is expected to span over 350,000 square meters, and produce textiles and ready-made garments.
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Saudi and Egyptian startups lead funding activity
The region experienced a variety of funding rounds across diverse sectors, alongside the graduation of accelerator programs.
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AOI inaugurates first gas stove safety valves production line in Egypt
The ABD aims to supply valves to the local market to meet the increasing demand, in addition to exporting to Arab and African countries.