News
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Offers for selling electricity to private sector lasts till Aug.
The experience of allowing the private sector to sell energy to the consumer from the private sector also opens the door to liberalizing market.
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Wind power plant in Suez Gulf ‘milestone’ in Europe-Egypt relations
Egypt a regional center for green energy is becoming a role model for other countries, said Eric Chevallier, French ambassador in Cairo.
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Egypt suspends land allocation system in foreign currency
The ministry will assess all allocations related to the system to ensure alignment with the Central Bank of Egypt's foreign exchange policies.
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ETF: Plan to renovate 5 sites of Holy Family Trail in Egypt
These areas are promoted after the Pope of Vatican allowed, in 2017, pilgrimage trip for Christians in Egypt.
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CIB commits $300m to renewable energy, waste management projects
The total financing volume provided by CIB in the field of renewable energy and waste management amounts to an impressive $300m.
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Finance Minister defends 11% reduction of gov’t bread subsidy
More than LE130 billion are borne by the government during the fiscal year to provide wheat, whether from farmers or importers.
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Siemens expands upon partnership with Electro George
Siemens and Electro George are poised to deliver unparalleled value to customers, providing access to world-class technology at competitive prices.
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Egypt allocates 41,700 km2 for green hydrogen projects
The government has approved the allocation of land plots in the Red Sea and Suez governorates to establish renewable energy plants.
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Egyptian Stock Exchange registers record gains in May
The monthly report of the Egyptian Stock Exchange howed that the market capitalization of shares of listed companies gained about LE 139 billion.
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M&P forms strategic partnership with China Harbour Engineering
This landmark collaboration aims to significantly boost China Harbour’s involvement in Egypt’s rapidly growing infrastructure sector.
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Safir Hotels & Resorts expands into Sohag, Egypt
Safir has signed a hotel operations and management contract with Blom Real Estate Development Company.
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CBE implements blended finance mechanisms
Hassan Abdalla eleased a statement on the occasion of AfDB’s 60th anniversary and the 2024 Annual Meetings.
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Juhayna’s Q1 consolidated profit rises 41.01%YoY
Consolidated net profit after tax amounted to EGP 478.333 million in Q1 2024, compared to EGP 339.217 million in Q1 2022.
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Egypt Raises Petrol Prices by up to 14.3%
The diesel price was kept at 8.25 pounds per liter. The decision takes effect from 8 a.m. (0600 GMT) on Friday.
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National Bank of Egypt enables instant transfer receipt from abroad
The move supports Egypt’s digital transformation plan making the society less dependent on cash to enhance the government’s financial inclusion.
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Ready-made garment exports record 23% increase in 4M 2024
From January to April 2024, the sector’s exports surged to $856m, a substantial increase compared to the $697m recorded during the same period in 2023
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Egypt implements 7 consecutive minimum wage raises in 4 years
The budget allocation for wages and workers' compensation saw a significant rise in the fiscal year 2023/2024, reaching approximately LE 470 billion.
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Egypt Harvested Over 700,000 Wheat Feddan since April
The country allocated $59.69 million for a down-payment to state grain buyers to purchase wheat from local farmers.
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23.2% decrease in trade deficit in March 2024: CAPMAS
The trade balance deficit reached $2.37bn during March 2024, compared to $3.09bn for the same month in the previous year.
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Egypt’s path to expand social protection, confronting inflation
In the FY 2023/2024 plan, Egypt boosted its social support and protection programs by allocating LE 529.7 billion.