News
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Egypt bourse hits record high after IMF deal, Aramco lifts Saudi
The country's benchmark index (.EGX30), opens new tab finished 5.2% higher at 32,920 points, with most of its constituents rising.
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Banks Federation head urges caution as hot money flows into Egypt after flotation, rate hike
Head of Egypt’s Banks Federation Mohamed El-Etreby urged caution amid an influx of hard currency into Egypt.
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Egypt Stops Reducing Electricity Loads during Ramadan
The Cabinet had approved load-reducing schedules during the month of July 2023, after loads on the national electricity grid rose.
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The Most Promising Stock Investment Opportunities in 2024
The stock market continues to be a popular avenue for wealth creation, attracting both seasoned investors and newcomers.
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German Steigenberger Hotels AG signs contract to manage hotels at South Sinai’s Great Transfiguration site
The German company will be in charge of the management of hotels and tourist resorts located on the lands owned by Misr Sinai Tourism Company.
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Egypt to start construction of 2nd phase of administrative capital in 2025
ACUD has secured five new partnerships during the first quarter (Q1) of this year, worth between EGP 180 and EGP 200 billion.
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Egypt’s surprise rate hike a boon for foreign investors
The Egyptian pound dropped from a level of 30 pounds per dollar to 49.50. Traders said the surprise move injected much-needed investor confidence.
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Egypt breaks record in exports of fruits, vegetables to Germany
German importers bought more than 190 thousand tons of Egyptian produce, which was a 25% increase from the previous year.
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As Egypt's economy dips, sustainable fashion soars
Recycling and upcycling clothing saves money and reduces waste while offering new employment opportunities, too.
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S&P Positive On Egypt's Rating After $35B Ras Al Hikma Investment, Expanded $8B IMF Deal
Rating agency S&P is encouraged by the substantial financial inflows that Egypt has received in the last two weeks.
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Our greenhouses provide optimal growing conditions for Egyptian peppers
While the vast majority of vegetable production in Egypt is carried out in open fields, greenhouse production has enabled Fresh Energy to compete.
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How Egypt wants to use solar energy to decarbonise its aluminium industry
Aluminium is an essential metal in the construction sector. However, its production is responsible for 2% of global emissions (in 2018).
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Egypt, Finance Minister: Financing of 20 billion dollars expected after the agreement with the IMF
Debt is expected to fall below 90 percent by June 2025 and below 80 percent by June 2027.
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Egypt’s annual polyester imports amounts to $800M: PM
Madbouly inspected the artificial silk and polyester factory in Kafr El Dawar, and is currently heading to the Alexandria port.
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Egypt learns how not to float a currency from Nigeria’s mistakes
Nigeria may have put the cart before the horse with its floatation of the naira, but Egypt has made no such mistake.
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Moody’s upgrades Egypt’s credit outlook to positive following successful IMF deal
The agency also affirmed Egypt's foreign-currency senior unsecured ratings at Caa1.
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Explainer: How big are Egypt's economic challenges?
Some causes date back decades, such as failed industrial development due to poor planning and heavy bureaucracy, and export policies.
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Ask a Local: Best Ramadan Iftar Spots in Cairo
To truly experience Ramadan like a local, do not just seek out delicious food. Instead, prioritize finding places that capture the authentic spirit.
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Egypt secures extra $5 bn in IMF loans as pound plunges
Egypt secured an additional $5 billion in IMF loans on Wednesday, the two sides said, after the central bank hiked interest rates.
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Egypt raised interest rates to curb inflation: CBE Governor Abdullah
The state has recently raised interest rates by 6 percent to contain inflation and support citizens.