News
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Egypt rules out currency devaluation amid IMF delegation’s visit
The IMF visit coincided with a new report by Moody’s, revising its outlook on Egypt from “stable” to "negative."
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Egypt’s CIB introduces new 3-year certificates with up to 22% yield
(CIB) has issued new premium certificates of deposits (CDs) that offer a fixed monthly yield of up to 22 percent.
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Scandals and success: how Egypt breaks records in grape exports to EU in 2023
From January to October 2023, Egypt exported more than 70 thousand tons of fresh table grapes to the EU.
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Egyptian beauty startup Mira raises $200,000
Cairo-based direct-to-consumer (D2C) beauty and wellness startup, Mira, has raised $200,000 from Wingoo Investment and Technology.
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8%-growth in number of tourists visiting Egypt since outbreak of Gaza War
The minister pointed out that while Egypt received 3.6 million tourists during that period, the number plummeted in other countries by 50 percent.
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Egyptian e-payment Octane facilitates EGP 1 bln fuel sales in one year
Octane, the leading fleet management and digital fuel payments startup, facilitated EGP 1 billion in fuel sales in the first year of operations.
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PM inspects electricity distribution panel at “Fares” Village in Kom Ombo
This came as part of Madbouly visit on Saturday 20/01/2024 to a number of projects in Aswan.
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Egyptian-British JV to set up animal feed factories worth USD 30 mn
The project aims to localize the production of concentrated feed for poultry, livestock, dogs, and cats.
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Telecom Egypt Says No Need to Replace Phone Sim Cards to Operate 5G
The company called on startups and entrepreneurs to cooperate with Telecom Egypt (we) and develop applications for fifth generation technology.
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Egypt to install solar energy plants at five more archaeological sites
This comes to preserve and protect archaeological sites, and implement sustainable practices to benefit local communities and visitors alike.
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Chinese house appliance company builds new factory in Egypt
The construction of the factory will be completed in nine months, the SCZone said in the statement.
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Moody’s downward revision for Egypt ignores gov’t efforts: Finance minister
Egypt’s Ministry of Finance stressed that the latest decision of global rating agency Moody's that fixed the country’s sovereign’s credit at Caa1.
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Egypt’s Natural Gas Potential: How ENI’s Orion-1X Could Transform the LNG Landscape
Amidst regional tensions and economic pressures, Egypt’s LNG future hinges on ENI’s Orion-1X well, a potential game-changer for its gas exports.
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Egypt progresses toward Central Bank Digital Currency (CBDC) Implementation by 2030
CBDCs, a form of digital currency issued by a country’s central bank, differ from cryptocurrencies in that their value is pegged to the country’s fiat
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Egypt aims to import 5 million tons of wheat during 2024
From Russia at around 2,930 million tons, Romania at 780,000 tons, France at 360,000 tons, Bulgaria at 270,000 tons, and Ukraine at 120,000 tons.
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Navigating Egypt's economic roadmap: challenges loom amidst visionary goals
To fortify its economy over the next presidential term, Egypt has rolled out an extensive eight-directional economic strategy spanning 2024-2030.
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Egypt releases strategic economic plan (2024-2030) for National Dialogue
Egypt's Prime Minister Mostafa Madbouly has ordered the release of a new economic plan for the country's next six years.
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Egypt considers powering aluminium complex with solar energy
The solar park is planned to be constructed in two phases each with a capacity to produce 500 MWh of clean power annually.
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Your Guide to the Best Kebda Sandwiches in Egypt
Read along to find out about the best 13 spots to get your kebda sandwiches across Cairo, Alexandria, and El Gouna.
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In a new record, Egypt receives over 14 million tourists in 2023
Issa announced that Egypt welcomed 14.906 million tourists in 2023, breaking the previous record of 14.731 million tourists set in 2010.