News
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Alshaya Group closes down Debenhams, Mothercare, The Body Shop in Egypt
Alshaya Group, a key regional operator overseeing renowned brands such as American Eagle, H&M, and Victoria’s Secret to scale down in Egypt.
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Suez Canal revenues drop by 40% over Red Sea incidents: Official
The number of ships passing through the Suez Canal decreased by 30 percent compared to the same period last year, owing to tensions at the Red Sea.
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NTRA, Telecom Egypt sign $150 mln agreement for 15-year 5G license in Egypt
The National Telecommunications Regulatory Authority (NTRA) has signed a $150 million agreement with Telecom Egypt for a 15-year license to operate 5G
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Egypt's agriculture exports increase by $239.2M during 2023: CAPMAS
During the first 10 months of 2023, the total Egyptian agricultural exports reached $3.5 billion, compared to $2.8 billion during the same period 2022
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The 1.1 GW Jabal el Zeit wind megaproject receives official approval
The agreement is for a wind farm with a capacity of 1,100 MW, equivalent to the installed electrical capacity of a country like Malawi.
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Egypt holds first public discussion on economic strategy for 2024-2030
The cabinet’s Information and Decision Support Centre (IDSC) launched the first national dialogue session on the eight-direction document.
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TPAY to enable Mobile Payments for PUBG MOBILE in Egypt!
This launch provides gamers in Egypt to easily purchase PUBG MOBILE UC (unknown cash) through the official PUBG shop ‘Midasbuy’.
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Egyptian Valencia oranges enter the market amid tensions in the Red Sea
Climate change has manifested itself in a rather positive way for Egyptian citrus, the season started earlier than expected and extended export time.
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Malta and Egypt agree on strengthening cooperation in energy sector
The agreement lays down the areas for possible cooperation between the two countries, seeking to increase the exchange of knowledge and expertise.
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This Luxury Tour Company Is Raising the Bar on Egyptian Cruises With a New Nile Riverboat
Abercrombie & Kent will launch its fifth Egyptian riverboat to cruise the Nile in fall 2025 — and two onboard suites will have private decks.
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Centamin drilling intersects gold mineralisation in Egypt
Centamin has announced the results of its maiden drill programme on the company’s Eastern Desert Exploration (EDX) landholding in Egypt.
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10 Startups In Egypt To Keep An Eye On
Egypt’s startup scene is buzzing with innovation and potential. From MedTech, to EdTech and AgriTech, the country is brimming with opportunity.
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Additional banks join in on restricting FX transactions abroad, some suspend withdrawals
Al Baraka Bank Egypt and EG Bank announced new restrictions on foreign currency transactions on Tuesday through their respective websites.
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Arab Bank, Orascom inks EGP 4.2 bln Cairo Metro construction deal
The Arab Bank has signed an EGP 4.2 billion (nearly $136 million) agreement with mega company Orascom Construction to implement the fourth phase.
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Centamin propels modern mining rules in Egypt
Egypt’s current mining regulation was based on profit sharing with the government.
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First Vietnamese factory inaugurated in Egypt
Vietnam's European Plastics Joint Stock Company (EuP) has inaugurated a factory specialising in producing filler masterbatch in Sadat city.
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Egypt allows foreign companies to keep capital in foreign currency
Foreign companies can now retain their capital increase deposit in foreign currency, rather than having it converted to Egyptian pound by the bank.
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PM Witnesses the Ceremony of Handing Over the First 3 Towers in New Administrative Capital
The business district also houses the Iconic Tower, a supertall skyscraper with a total structural height of almost 400 meters.
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Egyptian fintech startup, Zeal, raises $4 million
Zeal, an Egyptian fintech startup, has raised $4 million in funding to expand its technology throughout Europe, the Middle East, and Africa
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Egypt’s state-owned oil companies to invest over EGP 23 bln in FY2024/2025: Minister
Egypt's state-owned oil companies are poised to invest over EGP 23 billion in the upcoming fiscal year (FY) 2024/2025, commencing in July.