News
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Egypt announces new startup regulations
Egypt unveils new startup regulations during the 9th Techne Summit in Alexandria, aiming to enhance the country’s entrepreneurial ecosystem and attract greater investment.
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Egypt’s debt ratio to be the highest across emerging markets, developing economies in 2023
Egypt’s gross debt-to-GDP ratio is projected to be 92.7 percent in 2023, the highest among the emerging markets and the middle-income economies.
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Egypt, France Sign MoU Regarding Cairo Metro Line 6
The Minister of Transport indicated that this contract is considered a giant step in the field of joint cooperation in the transport sector.
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Moody's downgrades five Egyptian banks by one notch
Moody's Corporation, the bond credit rating business, has downgraded five Egyptian banks in light of the country's declining debt affordability. The news came after the organisation downgraded the country's sovereign rating.
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Dutch study unveils methods to boost Egypt's food security
Egypt has seen tremendous growth in the agricultural sector over the past 60 years. The sector contributes nearly 11% of GDP and 18% of export earning
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Revenues from taxes allegedly reached LE 250B during Q1 of current fiscal year
The Ministry of Finance in Egypt reported that tax revenues surged by 27.5% during the Q1 of current fiscal year, reaching LE 250 billion.
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Egypt real estate projects tie for second highest value in MENA: Report
Egypt and the UAE shared the second place spot for value of ongoing real estate projects in the Middle East and North Africa (MENA) region in H1 2023.
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Egypt’s spending on interest rates among reasons for elevated debt: IMF
Egypt's elevated debt in FY2023/2024 is the result of several factors, including high spending on interest rates.
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Egyptians Abroad Corporation, led by prominent expats, to invest in real estate, energy, and agriculture
The minister mentioned that the company's investment activities will be within Egypt. Its shares will be listed on the Egyptian Stock Exchange (EGX) and some international exchanges.
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Cashless transactions in Egypt to reach $27.63 bln by 2027
The size of non-cash transactions in Egypt is expected to increase to $27.63 billion by 2027, with an annual increase of 14.03 percent.
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Israel reroutes gas exports to Egypt via Jordan
All Israeli gas pipeline exports to Egypt have been redirected through the FAJR gas pipeline in Jordan, following a halt in flows via the East Mediterranean Gas (EMG) pipeline.
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PM says State pays great attention to stimulating investment climate
Prime Minister Mostafa Madbouly emphasizes Egypt's commitment to stimulating the investment climate, removing investment obstacles and providing basic industrial infrastructure.
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Localizing the Electric Car Industry fits Egypt's Vision to Lower Import Expenditures: Official Statement
This comes within the framework of the directives of President Abdel Fattah Al-Sisi, to localize the industry locally.
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Private sector to sell electricity before end of 2023
The private sector in Egypt will commence the sale of electrical power before the end of 2023, as confirmed by the Minister of Electricity, Mohamed Shaker.
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Egypt's Inflation Reaches Historic 38% in September
Egypt's annual urban consumer price inflation escalated to a record high of 38% in September, exceeding analyst predictions and up from 37.4% in August, according to data from CAPMAS.
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IFC Approves $25 Million Loan to Support Green Steel Production in Egypt
The IFC will also provide advisory support to help Kandil Steel develop a decarbonization program to reduce its carbon emissions.
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Egypt’s central bank likely to peg pound against currency basket in early 2024: MP
CBE is expected to reach an agreement with the IMF in early 2024 to peg the pound to a basket of international currencies and gold.
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Egypt delivers training to agricultural researchers from 8 countries
Egypt, in collaboration with the Agricultural Research Center and the International Atomic Energy Agency (IAEA), provided specific training to 18 agricultural researchers from eight different Arab countries...
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Egypt's First Factory for Plasma Derivatives Will Be Built in NAC
This joint venture between Grifols and NSPO is part of a larger plan to build and operate 20 plasma donation centres in Egypt.
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A promising lemon campaign for Egypt
Just a few days after the start of the Egyptian lemons season, the growers and exporters we spoke to all agree in their assessment.