News
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Egypt looks to boost electrical industry exports by no less than 15% by 2024
Egypt’s electrical industry sector’s exports surged by 47.5 percent, to record around $158 million during the first 5 months of 2023.
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Egypt's Sidpec to acquire Ethydco after Abu Dhabi Fund bid
Egyptian state-owned Sidi Keril Petrochemicals (Sidpec) said its board of directors had approved the takeover of another state-owned company.
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Egypt's central Bank considers enabling remittance transfers via InstaPay
The Central Bank of Egypt (CBE) is considering enabling Egyptian expats to send remittances via the InstaPay app from countries like Saudi Arabia, UAE
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Egypt contracts to import 165,000 T sugar
General Authority for Supply Commodities GASC and Egyptian Sugar & Integrated Industries Company ESIIC have contracts to import 165,000 tonnes sugar
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Egypt’s GETZ receives 3 offers to build $1.6bln phosphate fertilizer factories
GTEZ) has received three offers worth $1.6 billion to build phosphate fertilizers and phosphoric acid factories at the zone in Safaga
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SCZone Signs Contract for Chinese Garment Factory with Investments worth $28.5 Mln
SCZone announced Tuesday the signing of a contract for the construction of a garment factory for the chinese Shanghai Shengda Company.
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Egypt targets to raise size of industrial production to LE4.3T in FY2023/24
Egypt targets to raise the size of industrial production by 19 percent from LE3.6 trillion in FY2022/23 to LE4.3 trillion in FY2023/24.
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Egypt likely to see wrap-up of $1.5bln acquisition deals this week
Mohamed Maher, Head of the Egyptian Capital Market Association (ECMA), told Asharq Business on July 16th.
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Fintech event Seamless North Africa 2023 kicks off in New Cairo
Regional fintech event Seamless North Africa has kicked off in Egypt's New Cairo with the participation of over 4,000 banking institutions.
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Egypt accounts for 50% of global jasmine production
The global production of jasmine is approximately 14 tons, with Egypt producing about 7 tons.
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Arab Dairy’s capital increase subscription covered by 98.56% in 1st phase: Egypt
Offering the uncovered shares for subscription is pending the Financial Regulatory Authority’s (FRA) approval.
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Egypt, Aqua Power sign agreement for 10 GW wind energy project in West Sohag
Upon the completion of all project phases, it is estimated that the wind energy project will save Egypt approximately $6.5 billion.
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Egypt’s gold exports decline by 45% in 5M 2023
Egyptian exports of jewelry and precious stones are still focused on some traditional markets without opening new markets for exports.
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Alexandria for Pharmaceuticals’ profits up 20% in 11 months: Egypt
Revenues came in at EGP 1.416 billion from July 2022 through May 2023.
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Egypt, Canada sign $7.57M grant agreement for food security, climate change efforts
Egypt's Ministry of International Cooperation and the Canadian Embassy in Cairo signed a $7.57 million grant agreement.
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Egypt to pen gold exploration contracts with Centamin, Barrick Gold within days
Centamin is pumping investments worth $9.1mln for exploration in 19 sectors.
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Denmark’s Maersk seeks to acquire Zaafarana wind farm in Egypt
Maersk has submitted an offer to the Egyptian government to acquire Zaafarana wind farm.
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Fitch Affirms Banque du Caire at 'B'; Outlook Negative
Fitch Ratings has affirmed Banque du Caire S.A.E.'s (BDC) Long-Term Issuer Default Rating (IDR) at 'B' with a Negative Outlook, and Viability Rating.
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Ibnsina Pharma tops Egypt’s drug distributers with market share of 24%
It is worthy to mention that Ibnsina Pharma previously reported a 22.18% year-on-year (YoY) increase.
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All you need to know about Egypt's coming Mining Forum 2023
The forum, organized by the Ministry of Petroleum and Mineral Resources, highlights 120 years of geological discoveries in the country.