News
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18% return savings certificates can be redeemed starting March 22
The new push in the banking system will also to face the floatation of the pound and help customers with their life’s expenses.
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Egypt offers to sell 10% of government's stake in Telecom Egypt
Telecom Egypt's revenues increased in 2022 by 19 percent, amounting to LE 44.3 billion.
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Africa faces development challenges due to European conflict
Al-Mashat said that Egypt has been keen to launch a national food and nutrition strategy to achieve security in this regard.
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Nassef Sawiris’ V Sports to buy 46% stake in Portuguese Vitoria SC
The large majority of Vitória SC’s partners have voted in favor of the sale of the 46% stake to V Sports.
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Egypt’s exports to African markets planned to hit $15B
Despite their great potential, Egyptian exporters are faced with a lot of challenges when expanding to African markets.
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Supply Ministry: 455 fairs to sell food products at 30% off in ramadan
Such exhibitions have witnessed a high turnout by citizens as they offer affordable prices of wheat, sugar, poultry and meat.
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Japanese, European banks extend $501MN for Egypt wind project
Nippon Export and Investment Insurance (Nexi), Japan's official export credit insurer, is paying for the commercial banks' share of the loan.
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German Development Bank allocates Eur 41M to restore Aswan high dam
The funds will help renew the Aswan High Dam’s electric generators, which have been operating since 1960.
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Serry Beach Resort to open in Hurghada in 2023
Will welcome seekers of serenity and authenticity on a journey into experiencing the Red Sea like never before.
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Africa’s industrial solar power installations rise by 60% in 2022
The report noted that, the commercial and industrial segment registered a year-on-year growth of 61.5 per cent in the previous year.
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President El-Sisi reviews national agricultural production and land reclamation project in new Delta
President El-Sisi was briefed on efforts to develop the necessary infrastructure and provide machinery and equipment for modern irrigation methods.
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PM discusses yacht tourism in Egypt with Italy’s Navigo
An action plan to market Egypt as a prestigious yacht tourism destination was presented by the Italian Navigo group on Monday.
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Al-Futtaim Group Real Estate and VeryNile join forces to intercept plastic pollution in the Nile river
On the sidelines of the cleanup initiative, the group’s participants also had the chance to attend a workshop which primarily focused on recycling.
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Gulf investments in government companies to reach $4B
Egypt will float shares of about 23 government-owned companies during the current year, whether through the stock exchange or sale to investor.
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Cairo supports efforts of social responsibility in creating sustainable development climate
The minister also reviewed the ministry’s efforts to support development programs and activities for all targeted categories.
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South Valley Cement reports nearly $6.8mln losses in 2022
Loss per share stood at EGP 0.43 as of 31 December 2022, versus EGP 0.47 a year earlier.
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Egypt’s budget deficit increased to 4 % of GDP in 1H 2022/23
The government targets collecting EGP 1.5 trillion in revenues this year, against EGP 2.7 trillion expected for expenditure.
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Egypt to strengthen Jordan power link to up to three gigawatts
The current capacity of the interconnector between Egypt and Jordan stands at 550 megawatts.
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Telecom Egypt reports 9.09% YoY surge in 2022 profits
Consolidated operating revenue grew to EGP 44.273 billion last year from EGP 37.087 billion in 2021.
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Tourist walkway in Hurghada starts development
The walkway is set to be inaugurated during Eid al-Fitr, becoming a park for people north of the city and guests of the hotels located in the area.