News
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Rising revenue in US offsets decline in Egypt for Orascom
Orascom is building the longest monorail system in the world. The first line runs 54km from East Cairo to the New Administrative Capital.
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Emigration Minister present developments of setting up investment Company for Egyptain abroad
Its primary objective is to stimulate investments in various sectors, including agriculture, commerce, import-export, and tourism.
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Viking marks float out of newest Egypt ship
Set to debut in August 2024, the Viking Hathor will join the company's growing fleet of state-of-the-art ships for the Nile River.
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PM Follows Up On Measures To Manage, Operate Egypt International City For Olympic Games
The meeting aims to review the outcome of the work of the committee formed to assess the offers submitted as regards managing and operating the city.
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4,300-year-old tomb of palace official found in Egypt.
The 4,300-year-old tomb was built of mud bricks and partially buried in the sandy soil, archaeologists said and a photo shows.
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Egypt aims to reduce debt-to-GDP ratio to less than 80% in 3 years
Maait also mentioned that a significant space for public investments in the state has been left for the private sector to thrive.
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President Sisi directs gov't to reduce public debt, budget deficit
El-Sisi also directed to continue and enhance efforts to alleviate burdens on citizens, particularly in terms of controlling inflation.
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Egypt’s New Administrative Capital: In pictures
Egypt is building a new city, known as the "New Administrative Capital," 30 miles east of Cairo.
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French Saint-Gobain establishing €175 million glass factory in Egypt
French construction materials group Saint-Gobain laid on Wednesday the foundation for its third glass factory within Egypt’s Al-Ain Al-Sokhna zone.
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Egypt allocates over US$12 billion to support citizens in new budget
The Egyptian government in December raised the target of subsidizing petroleum products in the current fiscal year by 9%.
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Egypt's agricultural export strategy focuses on farmer support
Al-Quseir noted a record increase in fresh agricultural exports in 2023, reaching approximately 7.4 million tons.
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Why Egypt’s inflation continues to rise in February 2024
Egypt’s annual headline urban inflation rose to 35.7% in February 2024, up from 29.8% in January 2024.
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Egypt extends period for legalizing status of foreign residents
Foreigners applying for the right of residence for tourism or non-tourism purposes must submit a receipt indicating that they have transferred fees.
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SCZone Signs Agreement to Establish Training Center with Chinese Gov't
The training complex consists of a training center equipped with the latest technology laboratories for various industries.
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Ministry of Local Development outlines plans for industrial zones across Egypt
The Ministry has allocated EGP 15m, supplementing the EGP 50m previously sanctioned for plans for 67 industrial zones within 23 governorates.
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Rameda reports 37% year-over-year increase in 4Q23 revenue to EGP 534m
The company’s revenues rose by 37% year-over-year to EGP 534m in 4Q23, fueled by robust growth across all Rameda’s sectors.
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Egyptian pound Appreciates against Foreign Currencies
The exchange rates of foreign and Arab currencies declined against the Egyptian pound at the end of trading on Tuesday in Egyptian banks.
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S&P upgrades Egypt’s credit outlook to positive
S&P Global views Egypt’s exchange rate liberalization as a crucial milestone in bolstering confidence and fostering economic growth.
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Egypt’s Pharmacy Marts secures bridge round from Acasia Ventures
Pharmacy Marts claims to have covered 20 per cent of Egypt’s total market, and boasts over 200 suppliers on its platform.
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Egypt to allocate $2.66bln for bread subsidies in FY 2024/2025 budget
A finance ministry statement said on Tuesday citing Finance Minister Mohamed Mait.