News
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Gold rush: Why Egyptians are paying sky-high prices for gold
Despite the sky-high prices, people are waiting in long queues to buy gold. Retailers are pricing their products based on a dollar almost EGP50.
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"Manpower": Egypt out of International Labor Org. Blacklist
This measure means that the Egyptian state is moving in the right direction towards strengthening labor relations.
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bp awards subsea operations offshore contract off Egypt to Subsea7
Subsea7 has commenced project management and engineering, and will oversee the project from its French, UK and Portuguese offices.
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Egypt will be saving 20% in diesel subsidies after recent price increase
Egypt will save EGP 16 billion ($516.97 million) or 20 percent of the annual diesel subsidies bill.
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Eni delivers Egyptian LNG to new regas plant at Piombino
Eni has delivered a cargo of Egyptian LNG to Snam’s regasification terminal in Italy.
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Goodyear upbeat about Egypt’s tire market - company official
A young demography and growing demand for premium cars will further boost Africa’s second largest automotive market.
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Aldar Properties reaffirms its commitment to Egypt
On Wednesday, Reuters reported that a senior executive had said Aldar will hold off any further investments in Egypt until conditions stabilize.
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Shady Mazhar appointed as Augustus Misr’s managing director
In his new role, Mazhar will oversee and manage assets for Lovin Cairo and Smashi TV. He will be responsible for company’s strategy and growth.
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Acrow Misr’s consolidated profits exceed $3.65mln in 2022
Basic and diluted earnings per share (EPS) reached EGP 1.75 last year, lower than EGP 1.84 in 2021, according to the income statements.
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Egypt raises diesel prices
Egypt's fuel pricing committee raised its diesel prices by EGP 1 to EGP 8.25 ($0.2666) per liter but kept gasoline prices unchanged.
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Egypt to build largest organ transplant center in middle east
Minister of Health and Population announced the establishment of the largest organ transplant center in the Middle East.
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Egypt's tourism revenues jump 25.7 percent in the second half of 2022
The Central Bank of Egypt published data revealing that Egypt’s tourism revenues recorded $7.3 billion jumping to 25.7 percent.
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CBE, EBC, MasterCard cooperate to implement rules governing e-payment
The tokenization technology replaces private customer data such as the payment card account number with a token.
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EU becomes more reliant on Egypt's LNG exports: World Bank
The EU has significantly increased its liquefied natural gas (LNG) imports from Egypt among six countries in 2022.
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Egypt parliament approves bill to speed up work at El Dabaa NPP
Egypt's House of Representatives has approved government-drafted amendments to the 1976 law regulating the activities of the Nuclear Power Plants.
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Egypt approves MoU with Norway to explore connecting electricity grid to Europe
The Egyptian cabinet approved an MoU with Norway, signed in November, to study connecting Egypt’s electricity grid to Europe through Italy.
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Sidpec’s profits jump 107% in Q1-23 initial results
Basic earnings per share increased by 52.78% year-on-year.
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MEA-focused Pyypl rolls out micro-investment platform
a MEA focused fintech, has announced the commercial rollout of its social and micro-investment platform that will support self-employed entrepreneurs.
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Fitch Solutions: Egyptian petrochemical sector exports grew 45% in 2021
Fitch Solutions indicated that the Egyptian petrochemical, chemical, and cement industry exports have grown by 45%.
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Egypt hosts World Bank's IFC summit to enhance women’s economic participation in MENA
Egypt hosted on Wednesday the International Finance Corporation's (IFC) summit on Law and Gender Conference.