News
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Cabinet approves five $200M energy agreements with local, intl. companies
The approval of these agreements is expected to contribute to Egypt's efforts to increase its oil and gas reserves and production.
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Egyptian startups raise $101 million in funding in H1 2024
Egypt ranked third with 13 percent share of $101 million in funding for startups during the first half of 2024, according to "Africa: The Big Deal".
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Mobile wallet transactions in Egypt surge 112% YoY in 2023
This increase paralleled a 30% rise in the number of mobile wallet accounts, totaling 39.4 million at the end of December.
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What you need to know about Egypt new gov't program for coming three years
Egypt’s Prime Minister Mostafa Madbouly outlined on Monday his new cabinet’s program for the coming three years.
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Egypt's Fuel Subsidy Bill Drops by 69%
Over the past three years, Egypt has phased out subsidies on most fuel products as part of an IMF-backed economic reform program.
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Egypt Suez Canal revenues shrink by 57.2% in 1Q of 2024
Revenues from Egypt’s Suez Canal shrank by 57.2 percent in the third quarter (January-March) of the FY2023/2024, which ended on 30 June.
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Egypt Prepares for the Spectacle of the Century: The 2027 Total Solar Eclipse
This eclipse will last for six minutes and 23 seconds, making it the longest one for the next 87 years.
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Five-pillar plan to boost Egypt industry sector: Minister
Ministry of Industry and Transport will adopt a plan of five key pillars to boost the industry sector going forward.
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Infinity Power plans to invest USD 10.5 bn in Egypt by 2030
The company plans to finance 30% of the new investments through internal resources, with the remaining 70% sourced from bank loans.
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Egyptian abroad remittances record $2.7B in May 2024: CBE
In comparison, the remittances in May 2023 amounted to around $1.6 billion, as reported by the Central Bank of Egypt (CBE).
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Egypt considers new incentives to boost local automotive industry
Egypt targets deepening autos local manufacturing by providing incentives to enhance domestic production and attract global companies.
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Health Minister announces drug shortage in Egypt will end soon
Egyptian Health Minister Khaled Abdel-Ghaffar on Saturday announced that the country’s drug shortage will be resolved within several weeks time.
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B.TECH inaugurates MAX store for electronics, home appliances
Strategically located on the Ring Road, B.TECH MAX covers an impressive area of over 3,000 square meters on a single floor.
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Banks operating in Egypt showed significant growth
The net open foreign currency positions as a percentage of total capital base improved significantly to 5.7 percent in March 2024.
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Egypt int'l reserves hit new record at end-May
Egypt's net international reserves (NIRs) rose to $46,3 billion at the end of June, the highest level since the COVID-19 pandemic outbreak.
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Egyptian Cinema is Getting a ‘Big Time’ Boost With Saudi Backing
Saudi Arabia’s Big Time Production House Fund is backing several Egyptian films including ‘Al Sett’ starring Mona Zaki.
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Egypt's Investment, Foreign Trade Ministry to drive economic transformation
The objective is to fully leverage Egypt's capabilities across various industries, as outlined in the state ownership policy document.
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Egyptian Petroleum Minister holds talks on strategies to boost oil, gas output
The meeting, held at the ministry’s headquarters in the New Administrative Capital, focused on addressing challenges in the sector.
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No changes to Egypt’s load shedding plan, official assures
In July electricity cuts will be suspended starting from July 21 until the end of summer on September 21.
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Egypt receives 2 gas shipments out of 21
Egypt has received two international shipments of natural gas out of 21 contracted cargoes as part of the country's urgent plan to end power outages.