News
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EGX to list energy company in two weeks: Chairman
The Egyptian Exchange is preparing an energy company to be listed on the market within two weeks, EGX Chairman Ramy El-Dokany stated on Wednesday.
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Arab for Asset Management’s losses narrow by 30.9% YoY in Q1: Egypt
The company suffered a net loss after tax of EGP 1.226 million in Q1 2023, versus a loss of EGP 1.777 million in Q1 2022.
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Red Sea Global and Partanna sign product supply agreement
That product supply agreement could lay the future for carbon negative concrete in Saudi Arabia.
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Arabian Cement registers hike in Q1-23 net profits
Non-consolidated sales jumped to $54mln in Q1-23
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African Economic Outlook: Egypt "Most Attractive" for Short-term Investments in Africa
The report added that recent bank defaults could lead to increased global financial instability and exacerbate capital outflows from the continent.
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Egypt targets $83 billion in foreign currencies for FY 2023/24
The government aims to collect $83 billion in foreign currencies during FY 2023/24 through four streams, according to an official statement.
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Red Sea Airlines to operate flights between Moscow and Sharm el-Sheikh
The Red Sea Airlines will increase flights from Moscow to five flights in July, according to the company’s one-year program, ending in June 2024.
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Egypt "Largest Recipient" of Official Development Assistance in Africa- AfDB
Egypt leads African countries in terms of obtaining development funds in 2021, at a value of $8.2 billion.
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Smokers in Egypt consume $1.7b worth of cigarettes in nine months
The Eastern Tobacco Company, said that the total revenues from selling cigarettes and smoking items, including taxes, amounted to 54.827bn.
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Deal to make EGP-denominated debt “Eurocleared” close to finalized
Egypt has been working towards meeting clearinghouse Euroclear’s conditions since signing an agreement in 2019.
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Egypt's e-government system gets 8 mln euro grant from Germany's GIZ
Egypt's development portfolio currently comprises 34 projects worth $1 billion, with several partners involved.
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Cairo among 13 cities you can visit for 5 days with US$500
Cairo came next to the cities of New Orleans, Louisiana, Indonesia, Singapore, Porto, Thailand, Bangkok, Istanbul, and others.
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Egypt’s Elsewedy wins the contract for the D’jermaya solar power plant
The D'jermaya solar power photovoltaic plant will have a capacity of 36 MWp.
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SCZone Receives Russian Delegation to Continue Negotiations on RIZ
The meeting discussed the completion of the steps for the establishment of the Russian Industrial Zone (RIZ) in Sokhna and East Port Said zone.
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Arab League support’s Egypt’s greening initiative
Hisham Badr, the initiative coordinator, affirmed that it addresses issues related to impact of climatic change.
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CBE Instructs Banks to Suspend Use of Prepaid Cards for Int'l Transactions
The foreign currency crisis currently facing Egypt has led banks to reduce the limits on all types of bank cards for international transactions.
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Egypt authorizes land facilities in new cities to incentivize investors
The New Urban Communities Authority (NUCA) has authorized a range of benefits and incentives for investment projects in new cities.
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Egypt, Rawanda to Settle Payments within "Equal Deals" Mechanism
This came during a meeting held by the minister with Alfred Gakuba Kalisa, Ambassador of Rwanda in Cairo to discuss cooperation.
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Egypt Hosts Arab StarPack Award Ceremony
This year, Arab StarPack Pro recognized the best packaging design and innovations in consumer and industrial packaging on the Arab level.
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Marsa Alam solar-powered desalination plant goes operational
The solar-powered facility was built by KarmWater, the water solutions division of Egyptian company KarmSolar.