News
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Presidential decree okays climate-smart agriculture deal with Canada
The House of Representatives approved the 10-million-Canadian-dollar worth agreement during a session held on November 13, 2023.
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Head of Egypt’s gold division reveals expectations for gold prices in the coming period
The head of the Jewelry and Jewelry Division at the Chambers of Commerce, clarified that circulated rumors regarding the stoppage of gold pricing.
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Molla, Apache CEO review oil, natural gas excavation in Western Desert
The talks also tackled the company’s expansion plans for new drilling operations in the Western Desert.
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Egypt Air sells its Airbus A220s again
The Egyptian state-owned airline is closing the Airbus A220 chapter. Egypt Air is selling all of its twelve jets to the leasing company Azorra.
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Egypt in negotiations to develop Ras El-Hikma in North Coast
Negotiations are underway with international companies and funds regarding an agreement for developing Ras El-Hikma City in Egypt’s North Coast.
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Egypt ranks amongst top 10 most searched countries on Google for travel
Egypt owes its presence on the list due to its ancient tourist attractions, such as the Pyramids of Giza, Luxor, Karnak, Abu Simbel, and Nubia.
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Egypt cabinet approves ending state enterprise tax privileges
The decision is fulfilling a key condition the International Monetary Fund set in a $3 billion agreement signed a year ago.
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Central Bank of Egypt says did not issue new regulations on local currency withdrawals
CBE stated it has not issued new directives regarding adjustments to the daily withdrawal limit in Egyptian pounds for individuals and corporations.
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Egypt Participates in BRICS as Member for 1st Time
Egypt participated for the first time in BRICS meetings after joining as a full member as of January 1, 2024.
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Egypt’s Burullus Gas Awards Subsea Engineering Contract
The award to Norway’s Longitude Engineering covers deepsea design and engineering services for Phase 10 of Egypt’s West Delta Deep Marine Concession.
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Egypt's Central Bank Raises Interest Rates by 2% to Combat Inflation
This adjustment sets the rates at 21.25%, 22.25%, and 21.75% respectively, in a strategic move to curb inflation and stabilize the national economy.
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Egypt, Italy forge strong agreements in diverse development sectors valued at €82M
Egypt and Italy have engaged in collaborative efforts across various development sectors, amounting to €82 million.
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Egypt’s NBE introduces new debit card for US dollar accounts
NBE has launched a new debit card for customers with US dollar accounts, named Visa Platinum, to facilitate customers' overseas purchases.
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Egypt to extend submarine fiber optic cable with Central Europe, Balkans
The cable will be connected to Western Europe through ground cables as well as to some Mediterranean countries, like Italy, Libya, Cyprus and Greece.
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USD/EGP forward contracts reach all-time high at EGP 63
The 12-month non-deliverable forward contracts for the Egyptian pound against the US dollar surged to an all-time high of EGP 63.
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Mastercard & Emirates NBD to boost digital banking in Egypt
Mastercard has announced a strategic partnership with Emirates NBD-Egypt to elevate the digital banking experience for customers.
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Egyptian film ‘El Hareefa’ generates $1.20m since release on January 4
Egyptian soccer drama, El Hareefa, directed by Raouf El Sayed and featuring Nour El Nabawy in his first lead role, has made a significant impact.
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CBE caps local currency cash withdrawal at EGP 150,000 per day
CBE reduced the daily cash withdrawal limits in Egyptian pounds for corporations and individuals to EGP 150,000, according to a message sent to banks.
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Egyptian tourism achieves highest growth rate in the last 15 years
Egypt's tourism achieved seven percent growth rate in the size of hotel capacity, totaling 220,044 rooms.
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Egypt cabinet approves 15% reduction in budget's investment plan
The cabinet also said new projects would not be started this fiscal year, but projects that are 70 per cent or more complete will be prioritised.