News
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Egypt’s non-oil trade deficit declines 16 percent to $15.9 billion in H1 2024
The decline in Egypt’s non-oil trade deficit during H1 of 2024 was primarily due to a $1.2 billion decline in imports.
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Egypt dominates in Global Startup Awards' NA edition
Egyptian startups and influential figures secured 11 wins at this year’s North African portion of the Global Startup Awards (GSA).
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Egypt Metalco to undergo liquidation over mounting financial losses
Heavily indebted Egyptian state-owned Metal Construction Company, Metalco, is set to undergo liquidation after years of mounting financial losses.
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IMF says Egypt’s real GDP growth forecast at 4% in 2024/25
The IMF and the Egyptian government will continue negotiating the country’s access to a Resilience and Sustainability Facility (RSF) in the autumn.
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Suez Canal’s revenue faces monthly losses ranging from $500 to $550M
Madbouly, in a recent press briefing, disclosed that the Suez Canal faces monthly losses ranging from $500 to $550 million due to regional tensions.
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Egypt met all IMF requirements for 3rd review of $8 bln loan program
The roundtable was held a day after the IMF completed the third review of the Extended Fund Facility (EFF) loan program for Egypt.
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Delhi-Cairo economic ties soar, over 50 Indian companies now invest in Egypt
On the defence front, the EAM spoke about the expanding collaboration between the two countries, including regular bilateral exercises.
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PM inspects progress of establishing Warraq Urban community
Sherbiny reviewed progress achieved in evacuation operations of homes and lands in Warraq Island between June 24 – July 28.
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IMF approves release of $820 million for Egypt, calls for more reforms
Egypt says it has shifted to a flexible exchange rate regime, a policy the IMF said on Monday remains "a cornerstone of the authorities' program."
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Pharma companies petition for additional medicine price hike after fuel price increase
Pharmaceutical companies continue to grapple with rising transportation costs, prompted by the recent increase in fuel prices.
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Madbouly: Electricity Subsidies to be Lifted Gradually over 4 Years
The fuel consumption bill withdrawn from the Ministry of Petroleum for power stations amounts to EGP 16 billion per month.
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Egypt to establish digital platform for industrial sector
The platform will provide comprehensive services, including an industrial map, details on investment opportunities, and administrative procedures.
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Potatoes in Egypt: What does prices spike tell us?
The spikes in potato prices in the local market are expected to vanish with the beginning of the new season in November.
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Egypt sells Eastern Company’s factory no. 9 for EGP 1.58 bln
The board of directors of the Egyptian public tobacco company Eastern Company S.A.E has approved the selling of the land, buildings.
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Sheikh Mohammed bin Zayed visits Egypt to strengthen bilateral ties
President of the UAE, Sheikh Mohammed bin Zayed, has touched down at El Alamein International Airport for an extensive stay in Egypt.
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Egypt’s engineering exports surge 28.6% in H1 2024
Importers from Egypt include the United Kingdom, Turkey, France, Germany, Georgia, Italy, the Czech Republic, and Spain.
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Singapore is Egypt’s fourth biggest investor
Kouchouk said that ports and renewable energy are promising spheres for economic cooperation.
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Petrojet Achieves 1,620-Meter Tunnel Excavation for Fourth Metro Line
This stretch covers the distance between Hadayek Al-Shagar station and Hadayek Al-Ahram station.
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Egypt’s steel rebar production surges 37% in H1-24
The production growth was backed by the availability of the dollar currency and companies' tendency to export.
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Alamein Season presents plays starring Karim Abdel-Aziz and Emy Samir Ghanem
The second edition of the el-Alamein Season, which started on July 11 will present various comedic plays.