News
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PM reviews efforts of gov. complaints system in June; health tops priorities
The state is doubling efforts to receive complaints of the citizens and better respond to them in coordination with the bodies concerned.
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Egypt allows foreigners to own residential real estate
The Egyptian Cabinet approved a law on Wednesday allowing foreigners to own residential properties in Egypt, according to an official statement.
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Egypt’s cabinet approves France’s Alstom proposal to establish industrial complex
The cabinet will then study the requirements and incentives presented by Alstom, a multinational rolling stock manufacturer, to go ahead.
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al-Qusier: State working on expanding production of highly productive seeds
These seeds are distributed to farmers to the areas that need improved seeds, which is key for greater production.
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Egypt built 17 industrial sites across 15 governorates, with 5,046 units in just 9 years
The construction of these industrial complexes has been completed 100%.
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Egypt’s Masroofi raises $1.5 million
Egypt-based fintech Masroofi, has closed a $1.5 million investment round from undisclosed investors.
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Egypt conducts studies to expand electricity linkage with Libya, Jordan
Studies are underway to raise the output of electricity linkage with Libya from 150 megawatts to 2,000 megawatts.
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Egypt’s PMI for non-oil private sector rises to highest in 22 months: S&P Global
Egypt’s Purchasing Managers Index (PMI) for the non-oil private sector rose in June to 49.1, up from 47.8 in May.
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Middle Egypt Flour Mills targets profits for FY 2023/24
Middle Egypt Flour Mills is an EGX-listed company engaged in the manufacture, trade, import, export, packaging, warehousing, and distribution of grain
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Hilton Group to operate hotels in Maspero Towers, Cairo Citadel Aqueduct
Prime Minister Madbouli noted that the contracts are a milestone given that both areas were slums.
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Egypt signs $5bn deal with Norwegian utility for development of wind farm
The wind farm will also create 8,000 jobs for the province's residents, among the country’s poorest.
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Jawad Developments eyes achieving EGP 1bln in sales of VAL Plaza project in west Cairo
Dr Adel Abdel Jawad said that the company has obtained construction licenses and has already begun construction works of the mall.
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Demand for Egypt's sovereign USD bonds rises in July
Egypt's sovereign US-dollar-denominated bonds experienced a slight increase in their returns on international markets, rising by over 1 cent.
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Egypt, Germany mull boosting tourism cooperation
During the meeting, tourist traffic indicators of arrivals from the German market to Egypt were reviewed.
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Foreign investors may register as importers in Egypt per draft law
The total registration term should not exceed 10 years from the date of enforcement the new law.
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Egypt secures $1blnin financing from ITFC in 2023
The Islamic Cooperation for the Development of the Private Sector is collaborating with Banque Misr, Al Baraka Bank Egypt, and Faisal Islamic Bank.
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Egypt constructs artificial river with LE 160 billion parallel to Nile River
The agricultural activity in Egypt in recent years now extends to implement several major national projects.
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Egypt aims to reach 60% of dependence on renewables by 2040
Renewable energy plants from sun or wind will be the least expensive in the coming years compared to conventional power plants that depend on fuel.
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Egypt starts $1.8 billion gas exploration wells programme -minister
The programme is in cooperation with Eni (ENI.MI), Chevron (CVX.N), ExxonMobil (XOM.N), Shell (SHEL.L) and BP (BP.L).
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3 mobile giants set up factories in Egypt with 20 million devices production capacity
The first factory is owned by Vivo, the second factory is owned by Nokia and the third by Samsung.