News
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CBE approves raising Vodafone’s share in Basata to 20%
The Central Bank of Egypt has approved raising the share of Vodafone Egypt at the e-payment services provider Basata Holding for Financial Payments.
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Egyptian ready-made clothing exports reach $2.4B in 2023
The president of RMGEC mentioned that the Council's delegation consisted of 16 companies, all of which actively engaged in the event.
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ADNOC, BP to form gas joint venture to develop Egypt gas assets
According to the agreement, BP will contribute its assets to the joint venture in three development concessions and exploration agreements in Egypt.
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In January, the EU imported twice as many Egyptian oranges as in the same month of 2023
In January, the EU imported 51,687 tons of oranges, i.e. 79.7% or 23,000 tons more than in January of 2023.
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Egypt's Logistics Market: Pioneering the Future of Global Trade
Egypt's logistics market is expected to reach $52.6 billion by 2027, driven by strategic location, e-commerce growth, and infrastructure investment.
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Newly restored tomb of Amun scribe in Luxor opens to tourists
After more than two decades of restoration, the tomb of Neferhotep, the great 18th Dynasty (1550-1292 BC) scribe of Amun, was officially opened.
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13th Luxor African Film Festival: All you need to know
The 13th edition of the Luxor African Film Festival (LAFF) will run from 9 to 15 February in Luxor, Upper Egypt.
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Egypt receives first images from its remote sensing NexSat-1 satellite
The National Authority for Remote Sensing and Space Sciences (NARSS) received the first images from its remote sensing experimental satellite NexSat-1
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Egypt, EU Discuss Applying CBAM To Advance Green Transition
This requires developing a clear road map for Egypt’s plan for executing this mechanism in line with the national priorities and social considerations
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Egypt-Turkey relations: Extended economic partnership, tremendous investment opportunities
Turkey is the first market for Egyptian exports, and that economic relations between the two countries have witnessed great activity recently.
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Egypt Targets $6.5 bn in Privatisation Programme for 2024: Finance Minister
Currently, 35 entities and assets are on the government’s privatisation list. Reports suggest there are 61 others.
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End-to-end payment provider Tafweela launches in Egypt
Tafweela, an end-to-end payment ecosystem targeted at corporate fleets, announced on Tuesday its launch in the Egyptian market.
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Advisor to Minister of Supply: Cabinet Is Considering Proposal to Establish Free Zone for Gold
Faraj has suggested that all duties on imports of gold and precious metals be canceled for Egyptians returning from abroad.
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Egypt plans car manufacturing factory in collaboration with Indian company
The facility will be established in collaboration with Egypt’s state-owned El-Nasr Automotive Manufacturing Co.
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ADNOC forms JV with bp to boost Egypt’s gas development
BP will hold a 50% stake in the joint venture (JV) while ADNOC owns the remaining 49% interest.
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Egypt's Richest Man, Nassef Sawiris, to Transform OCI into a Cash-Shell Entity for New Acquisitions
Nassef Sawiris, Egypt's richest man, is planning a significant overhaul of his chemical conglomerate, OCI.
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Mediterranean fruit fly detected in orange shipments from Egypt arrived at Russia's Novorossiysk Port
The Mediterranean fruit fly was found alive in eight shipments of oranges originating from Egypt, totalling a weight of 189.6 tons.
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Egypt Launches First Gold Bullion ATM
Egypt has taken a significant step towards digital transformation and financial inclusion with the launch of its first ATM for gold bullion sales.
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Turkey plans to establish industrial zone in Egypt: Trade Minister
The proposed industrial zone in Egypt aims to replicate the success of the existing industrial zone in Bursa.
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ITIDA signs deal with UAE’s MGN to expand operations in Egypt
Under the terms of the agreement, MGN commits to hiring a minimum of 300 new Egyptian employees over the three-year duration of the agreement.