News
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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.
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Egypt to unveil new investment opportunities for Arab, foreigner investors next month
The government will unveil several investment opportunities in key sectors during the joint investment conference between Egypt and the European Union
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US Apache Plans $1.4 Bln Investments in Egypt in 2024
Christmann said Apache upgraded its work mechanisms in Egypt which contributed to increasing oil production by 10 percent to over 150,000 barrels/day.
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Egypt surpasses Spain and Morocco in Canadian orange market
In the first quarter of this year, Egypt's orange exports to Canada have already surpassed the total for all of 2023, establishing a new record.
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Orange Egypt Doubles Customers' Donations via 'Orange Cash' to Support Charitable Organizations
The company allocated part of its donations to support and assist 9 non-profit charitable organizations.
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Egypt advances green hydrogen projects with 27 MoUs, 10 binding agreements
Al-Minshawi highlighted that multiple meetings have taken place with the European Union to discuss hydrogen projects in Egypt.
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Evidence of surgical tumor removal in ancient Egyptian skull
New evidence from a skull more than 4,000 years old has revealed that ancient Egyptian physicians may have tried to treat certain cancers with surgery
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Egypt to build world-class hotels near Grand Egyptian Museum
Complimentary aesthetic touches are needed in the area surrounding the museum and all roads leading to it.
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Egypt registers 3rd largest volume of real-time payments in Africa in 2023
By 2028, real-time payments are predicted to account for more than one-third of payments in the country.
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Egypt to lift fuel subsidies within 4 years: Official
The state has drawn up a plan to gradually lift subsidies on fuel and petroleum products by the end of 2025, Hommosany said.
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Egypt to Launch New Pipeline Costing $36M to Transport Fuel on Mediterranean Coast
The project, which will cost EGP 1.70 billion (roughly $36 million), is expected to begin operations in phases by the end of 2024.