News
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Egypt parliament approves state budget at LE 5.5 trillion
The Egyptian House of Representatives approved the draft law on state’s general budget for the fiscal year 2024/2025.
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Number of Egyptian citizens investing in gold funds surges to 108,808
The FRA is currently considering the possibility of launching a third fund in collaboration with one of the National Bank of Egypt’s companies.
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Egypt adds an extra hour to rolling power blackouts
Temperatures rose to nearly 40 degrees Celsius (104 Fahrenheit) in Cairo on Tuesday and were forecast to climb even higher over the coming few days.
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Egypt’s ITIDA, Techne sign MOU for 3-year AI-focused programme
The MOU outlines a three-year programme aimed at integrating AI into the fabric of economic and social ecosystems.
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Egypt targets $30 billion in foreign direct investment in 2024/25
The country's general budget indicators show that total revenues are expected to be EGP2.6 trillion.
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Remittances of Egyptians abroad increase by 43.8% in April
The Central Bank of Egypt had announced that net foreign reserves had reached $41 billion at the end of April 2024.
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Egypt’s int’l reserves hit highest point in 4 years
Egypt’s net international reserves (NIRs) hit its highest point in more than four years (50 months) to reach $46.1 billion in May.
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Egypt's exports of construction materials reach $2.8 billion
The Minister announced that exports of building materials increased during the first months of the current year to 2 billion and 876 million dollars.
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Egypt’s economy forecast to grow by 4.2 percent
Dr. Elsaid attributed this growth to increased investment spending, stronger net exports, and higher consumer spending.
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Egyptian prop-tech startup Birdnest raises pre-Series A funding for expansion
Birdnest offers innovative furnishing services and rental management solutions to ensure maximum returns for real estate investors.
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Egypt, Hungary mulls stepping up cooperation on AI, modern technologies
The meeting also tackled the State’s efforts to support digital innovation and leverage AI for creating innovative solutions.
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El-Sisi mandates PM to form a new Cabinet
Key among the objectives outlined by El-Sisi is the preservation of Egyptian national security, particularly in the face of evolving regional dynamics
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UAE emerges as leading investor in Egypt
Yahya Al-Wathiq Billah, the head of the agency, highlighted the significance of economic relations in fostering strong ties between Egypt and the UAE
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Banks across Egypt offering CDs up to 30% per month
Several banks operating in Egypt have recently launched Certificate of Deposits with lucrative monthly and annual returns.
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Egypt's largest container terminal to operate by 2025
Egypt has announced a new large container terminal at Ain Sokhna port on the Red Sea led by China's Hutchison.
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InstaPay introduces new feature for easier money transfer
The new feature enables the beneficiary to share the QR Code to the other party wishing to transfer the money.
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Alstom completes Beni Suef Assuyt railway signaling project in Egypt
With a capacity to transport up to 60,000 passengers daily, BSA service is a vital transportation lifeline for people across Egypt.
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Egypt government offers ‘Odheya Sukuk’ for expats
This comes in coordination with the Ministry of Religious Endowments to celebrate the approaching advent of Eid al-Adha.
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NMEC approves proposal for new hall on ancient Egyptian mummies
This comes to expand the museum’s exhibition scenario, and highlight the great historical and archaeological value that mummies provide.
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Egypt Forges New Plan to Restore Cairo's Historic Heart
Some restorers and architects also worry about the complexity and cost of restoration, and the possibility it could lead to Disneyfication.