News
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Presidential decree approves amendment of financing deal with France
The agreement was signed in October 2022 with an aim to provide an additional grant not exceeding 3 million euros.
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WB revises down its forecast for Egypt GDP growth in FY2022/2023
They revised it to four percent in each of these two fiscal years, down from 4.5 percent it projected in December of 2022.
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Egypt's trade deficit decreases 47% during January
The decline in the trade balance deficit during January 2023 is due to a decrease in the value of imports by 28.2 percent, reaching $6.33 billion.
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EBRD, GCF Support 500 MW Wind Farm In Egypt; To Be Largest In Africa
EBRD has issued a loan of up to $100 million for the development, construction, and operation of a new 500 MW onshore wind farm in the Gulf of Suez.
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Philip Morris raises prices of its cigarettes, tobacco products
Philip Morris Egypt has raised the prices of cigarettes and tobacco products, the new prices are applied starting Thursday.
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Egypt's GASC buys 600,000 tonnes of Russian wheat in tender
The purchase comprised of 300,000 tonnes for shipment between May 10-20 and 300,000 tonnes for shipment between May 21-31, GASC said.
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Egyptian garlic enjoys 2 months of no competition
Egyptian producers and exporters of garlic are about to kick off the 2023/2024 season with high spirits, amidst favorable conditions for production.
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Finance min.: Cars replacement initiative spearheaded in 15 governorates in 2 years
This falls within the framework of the government’s efforts to realize green transition and promote use of eco-friendly vehicles.
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Egypt, Cyprus Agree to Enhance Cooperation in Energy, Defense
Egypt, Greece, and Cyprus are in an expanded tripartite cooperation mechanism that includes the military and political fields and common interests.
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Arab Cotton Ginning posts 16% higher consolidated profits in H1-22/23
Revenues increased by 5% year-on-year (YoY) to EGP 560.69 million in H1-22/23 from EGP 532.07 million, according to the initial financial results.
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The Emirates supports Egypt's port development
The Egyptian government has signed an agreement with the Emirati country to improve logistics and port management.
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Egypt's Net Foreign Reserves Rise
The central bank said it raised rates to help tame soaring inflation, which leaped to 31.9% in February.
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Egypt wheat imports expected to rise
The report said Egypt’s wheat production is projected to remain unchanged at 9.8 million tonnes in 2023-24.
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Engineering industry's exports hit $ 626M in 1st 2 months of 2023
The exports of the sector increased in February by 6.3 percent to record 348 million dollars in comparison to 327 million dollars in February 2022.
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Irrigation Ministry works on upgrading equipment used in different projects
The minister also directed officials to optimize the use of the equipment to guarantee carrying out projects properly.
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Shell named exclusive supplier of lubricants for MG Egypt
The partnership comes in line with Shell Lubricants Egypt's keenness to develop its network of distributors, OEMs and prospects alike.
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Proceeds of NBE, Banque Misr's fresh high-yield CDs record EGP 109 bln in 3 days
The NBE and Banque Misr offered two three-year CDs; one with a fixed monthly yield of 19 percent, the other with a decreasing yield of 22 percent.
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Egypt inks $120mln contract to build first waste-to-energy plant in Giza
The contract has been sealed between the Giza Governorate and a consortium comprised Renergy Egypt and the National Authority for Military Production
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Former Tourism Minister Khaled El-Enany nominated as UNESCO Director-General
Prime Minister Mostafa Madbouly announced the nomination during a press conference. The election will take place during the final quarter of 2025.
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Egypt's foreign reserves increase $95M by end of March
Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan.