News
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Egypt plans expansion of new capital as first residents trickle in
Egypt is preparing to spend billions doubling the size of a lavish new capital it is building in the desert 45 km (28 miles) east of Cairo.
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Egypt targets 10% increase in chemical, fertilizer exports in 2024
The North African country’s exports of chemicals and fertilizers exceeded $6 billion in 2023.
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Egypt agrees with AD Ports to develop Red Sea tourism terminals
The contract will also commit AD Ports Group to develop yacht and cruise ship tourism in Egypt, the ministry statement said.
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Egyptian economy to recover in 2025: PM
The Egyptian economy is set to fully recover from its current crisis in 2025, Prime Minister Mostafa Madbouly stated in a press conference.
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Siwa ranks among 15 best resorts to visit in 2024: UNWTO
The organization said that the Siwa Oasis is an increasingly popular destination in Egypt, a favored location for the world’s elite throughout history
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Tech for Palestine launches to provide tools to help support Palestinians
It is one of the first tech initiatives to take a public stance supporting Palestine and could represent a turning point in the venture industry state
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Egypt's parliament passes generous green hydrogen subsidy law
Companies can get 55% tax credit on H2 projects, if they meet strict requirements on foreign financing and local content.
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Egypt Launches First Production Well in North Safa Oil Field
A second well, currently under construction, is anticipated to be completed by mid-January, which will boost the field’s output to 6,000 barrels.
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Egyptian banks to close on Sunday for Christmas
Egyptian banks will be closed on Sunday, 7 January, in celebration of Christmas for the Orthodox Church, according to a statement by the Central Bank.
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Government plans to borrow EGP 1.647trn from local market in Q3 2023/24
The money will be used to pay previous maturities for debt instruments and finance the state’s general budget deficit.
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Egyptian banks to repay over EGP 500 bln CDs in January: Where will they go?
The National Bank of Egypt (NBE) and Banque Misr are set to repay more than EGP 500 billion in principal and interest of 22.5 percent and 25 percent.
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Egypt among Top 10 most searched destinations on Google for travel in 2023: Le Monde
Egypt was included in the list of the ten most searched countries to travel to in 2023 on Google, according to French newspaper Le Monde.
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IMF: Expansion of War "Biggest Threat" to MENA Economies in 2024
"The other risk lies in the uncertainty that other countries in the region will face, which may affect investment."
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Egypt approves land sales to foreign companies in USD
The Egyptian Cabinet approved the sale of specific tracts of land to foreign companies in US dollars, according to a statement on Wednesday.
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MSMEDA, Aman sign LE 160M financing contracts for micro-enterprises
The first agreement, valued at LE 100 million, will provide funding for micro projects across all governorates.
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Egyptian remittances drop 29.2% in Q1 FY2023/2024
Remittances from Egyptians working abroad dropped 29.22 percent to $4.52 billion in the first quarter of the fiscal year 2023/2024.
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Recent electricity price hikes to reduce sector losses to LE 75B: Egypt’s PM
On Tuesday, the Ministry of Electricity and Renewable Energy announced a 16-26 percent increase in electricity prices, effective from January 2024.
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Egypt EGPC to stay out of bitumen market in 2024
Egypt's state-owned EGPC will stay out of the bitumen market for a second year running as it plans to issue no import tenders in 2024.
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Egypt’s construction resurgence
Egypt's construction sector has emerged as a powerhouse, a dynamic force steering the nation toward economic growth.
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Egypt Real Estate: Engineer Amr Soliman Presents Mountain View iCity, the First Happy City in the World
Interview with Engineer Amr Soliman, Founder, Chairman and CEO of Mountain View.