News
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President al-Sisi arrives at nitrogen fertilizer complex
The complex is implemented by ThyssenKrupp AG, a German industrial engineering and steel production multinational conglomerate, and Egypt's Petrojet.
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Egypt’s Military Production Ministry, Indian Foamtech probe joint cooperation
Foamtech manufactures, exports and supplies ABC dry chemical powder fire extinguisher, fire alarm, hose reel, foam concentrates and allied products.
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Nokia to support Orange and ACUD smart capital city in Egypt
Nokia’s software is complemented by Cerillion’s BSS product suite, which provides an open and standards-based solution.
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Banks' investments in securities, T-bills reach LE 4.428T by end of 2022
The CBE stated that the volume of investments of the largest 10 banks in these instruments amounted to about LE 3.533 trillion.
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CBE Extends Excluding Rice, Beans, and Lentils Imports from Monetary Cover
CBE decided to extend excluding rice, beans, and lentils from the monetary cover by 100% on import operations for trade purposes for a year.
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General Motors Egypt to invest $16mln to locally manufacture new car models
From 2018 to 2022, the company invested about $15 million to upgrade its factory in the country and ensure safety, productivity, and quality standards
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Misr Italia Properties participates for the first time in MIPIM
The world's leading real estate market event takes place in the period between March 14th - 17th in Cannes, France.
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EgyptAir, Air Cairo sign deals with travel agents
EgyptAir signed with a number of tourism agents to transport 8,000 tourists from a number of German cities directly to Luxor and Hurghada for 6 months
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Mastercard reinforces commitment to Egypt with new leadership appointment
Inji Borai appointed as Vice President and Country Manager for Mastercard Egypt.
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LG Egypt, Misr El Kheir sign MoU for LG Heroes CSR initiative in 2023
According to the MoU, LG is committed to supporting with modern technology different hospitals affiliated with Misr El Kheir Foundation.
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Amer Group shifts to $6.30mln consolidated losses in 2022
The revenues plummeted to EGP 870.48 million in 2022 from EGP 1.37 billion in 2021, whereas the total assets enlarged to EGP 9.97 billion.
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Silicon Valley crisis will increase Egypt’s gold prices
The bankruptcy of Silicon Valley Bank is an indicator of a major economic crisis that may be similar to the 2008 crisis.
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Minister of Industry: Trade Exchange Between Egypt, Sweden Grew by 30% in 2022
The volume of Swedish investments in Egypt amounted to about $145 million as of the end of April 2022, in the number of 222 projects.
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Haier Group lays foundation stone of Egypt's 1st Ecological Industrial Park
The GAFI's press statement highlighted that Haier Egypt has been among the very first companies that were issued the Golden License in December 2022.
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Presidential decree to transfer ownership of Misr Insurance Holding to TSFE
The IPOs program is also scheduled to put 10 to 15 percent of the shares of Misr Life Insurance company on the stock exchange.
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Minapharm Pharmaceuticals mulls $19.48mln capital hike
Under the board’s recommendation, a total of 60.29mln bonus shares will be distributed, where each shareholder will receive 5.11 bonus shares.
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Egypt, Denmark renew strategic energy cooperation agreement
The agreement aims at establishing a platform that makes it easy to document cooperation activities in the field of energy.
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Egypt 2nd largest Arab exporter of LNG to EU, 5th globally
The EU's expenditure on LNG and natural gas delivered through pipelines rose by more than threefold in 2022 to record €208 billion up from €62.5b.
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Misr insurance company ownership transferred to Egypt’s sovereign fund
Before its issuance, the company was under the jurisdiction of the Ministry of Public Business Sector.
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Alexandria operates 15 environmentally friendly buses
Alexandria is the first city in Egypt to operate environmentally friendly electric buses since 2019.