News
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EU will provide €1 bln to Egyptian microenterprises in 2024
The EU will provide one billion euros to finance microenterprises in Egypt during 2024 as long-term loans with low-interest rates.
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Capricorn Energy receives $30 million in payments from Egypt
Oil producer Capricorn Energy received a payment of $30 million this week from the Egyptian government after its debt to the company rose to $169m.
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IMF: $35 billion Ras el-Hekma deal supports Egypt's economy, to help handling of future shocks
The International Monetary Fund stressed the importance of implementing economic policies and supporting the private sector.
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Egypt to receive first tranche of expanded IMF loan next week
IMF said on Friday the expanded $8 billion financial support program enables the immediate release of $820 million.
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Egyptian billionaire Mohamed Mansour knighted by British prime minister
The Egyptian-British businessman is one of the Conservative Party's largest donors and will become Sir Mohamed Mansour.
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Egypt major FX companies collect foreign currency proceeds exceeding EGP 7.5 bln since EGP flotation
The exchange companies affiliated with Egypt's three largest state-owned banks have collected foreign currency proceeds surpassing EGP 7.5 billion.
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SCZone Records Impressive Growth with 57% Profit Increase
The Suez Canal Economic Zone (SCZone) continues to demonstrate positive growth, solidifying its position as a key competitive contributor to economy.
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10,000 feast at Cairo’s Matariya mega-iftar on 10th anniversary
Starting as tiny community gathering, event grows to become a rallying point for thousands.
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A new chapter in Egyptian fashion: Sustainability leads the way
In Monofeya, one of Egypt's poorest provinces, a single business successfully upcycled around 940 tons of fabric in five years, combating waste.
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Egypt approves FY2024/25 budget
Egypt’s cabinet has approved in its meeting on Wednesday the draft budget for the upcoming FY 2024/2025 to send to the House of Representatives.
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Raising the prices of Egypt’s hospital services is necessary: Health Minister
The minister explained that moving the prices of medical services, which had been fixed for 27 years, was inevitable to keep pace with the prices.
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Egypt inks agreement to establish LE 1.6B silo factory in East Port Said
According to the agreement, Feerum Egypt will establish a factory in the industrial zone in East Port Said, covering an area of 51,950 square meters.
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Egypt, Saint-Gobain sign deal to establish €160 mln flat glass factory in Ain Sokhna
Saint-Gobain- Egypt alliance will build a 200,000-square-metre flat glass factory in the industrial zone of Ain Sokhna.
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AMEA Power progresses with 500-MW solar project in Egypt
The Abydos Solar Power Company (ASPC), which is wholly owned by AMEA Power, is managing the construction and will own and run the solar power plant.
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Egypt’s non-oil trade deficit decreases 10.6 percent, exports rise 1.2 percent
The report also noted an increase in the value of Egypt’s non-oil exports by about 1.2 percent in Q4 of 2023.
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Egypt To Benefit From More Intra-Africa Trade
With implementation of a new trade deal taking hold, two new reports see a leadership role for Egypt.
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Saudi ADES Holding signs long-term agreement to invest $66M in Egyptian oil fields
This is part of a consortium leading local Exploration and Production (E&P) player to operate and enhance production in key oil brownfields in Egypt.
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Egypt to receive 2nd installment of financial dues for Ras El Hikma project within weeks
The government expects the project to attract investments of up to $150 billion during its development, helping to provide millions of jobs.
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National Bank of Egypt intends to invest five billion LE this year
These new investments will be in the sectors of financial technology, real estate development, chemical industries, and engineering industries.
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Water & food security projects top economic & social development plan in Egypt FY2024/25 budget
The government intends to construct 471 drinking water stations and 248 sewage treatment stations and increase housing units to 337,000 residentials.