News
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Japan supports Egypt's universal health coverage program with USD 330 mln
The project aims at enhancing the state’s efforts to develop health care services and providing them to all citizens.
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Where west and east meet: Egyptian firm debuts mixed C5ISR system
Egypt uses systems made in the US, China, Russia and others, and at IDEX 2023, a company says it’s figured out how to make them talk to each other.
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France's NGE announces deal to build 330km of high-speed trainline in Egypt
NGE has signed a contract to build the 330km high-speed train line from Ein Sokhna to Borg El Arab near Alexandria via Sixth of October
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Ezz Elarab Automotive Group organized an Aston Martin first drive event in Egypt
Hisham Ezz Elarab: We are pleased to organize this event in correlation with the British brand's 110th-anniversary celebrations
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Saudi Arabia halts PIF’s plan to buy Egypt’s United Bank
Saudi Arabia has halted the plan of its sovereign wealth Public Investment Fund (PIF) to buy Egyptian lender United Bank, Bloomberg reported.
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Egypt’s Fintech Hollydesk Secures $1 Million in Venture Debt Financing
Egypt’s fintech Hollydesk has secured $1 million in venture debt financing from undisclosed investors.
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Flat6Labs hosts 12 startups during Cairo demo day
Accelerator and VC firm Flat6Labs has hosted its 18th and 19th cycle startups at a demo day in Cairo.
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Egypt-Saudi Arabia bilateral trade hits $9.5bn in 11 months
The trade exchange value between Egypt and Saudi Arabia amounted to $9.50 billion during the first 11 months of 2022, an annual increase of 19.1 %.
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Zahraa Maadi logs $8.52mln profits in 2022 initial results; dividends proposed
Total revenues amounted to $12.80mln in 2022, an annual growth of 4.10%
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Egypt: Listing committee approves Sidpec’s capital hike
In November 2022, the shareholders of Sidpec greenlighted the capita hike, after the board had approved the increase in April.
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Saudi Arabia shelves plan to take over United Bank of Egypt over disagreement with Cairo
Saudi Arabia has put a plan by its sovereign wealth fund to acquire the United Bank of Egypt on hold because of a disagreement.
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Oman Investment Authority Plans To Study New Investment Opportunities In Renewable Energy In Egypt
The sovereign fund of the Sultanate of Oman will be studying new opportunities to invest in Egypt over the coming time.
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Egypt to trade shares in state-possessed hotels once valuation process is done
Global firms are determining the worth of Egypt’s state-possessed hotels before the administration trades shares in these properties.
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Wintershall Dea Talks Performance, Carbon Management in 2023 Annual Conference
In its 2023 Annual Press Conference, Mario Mehren, Wintershall Dea’s CEO talked about the company’s portfolio, including its performance in Egypt.
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Egypt signs 3 binding agreements to pump $145M investments in automotive sector
The three companies (Nissan, General Motors and the French Stellantis Group) will deliver an average of 60 to 70 thousand cars annually.
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Egypt can’t achieve self-sufficiency in wheat
This came from the head of the Agriculture and Water Resources Committee in the Egyptian Senate Abdel-Salam el-Gabaly.
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Egypt sells its first Islamic sukuk for $1.5 billion
Egypt sold on Tuesday its first US-denominated sovereign bonds, Islamic sukuk, with a total value of $1.5 billion, Minister of Finance Mohamed Maait.
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Intra-Arab trade does not exceed 7%
El-Bahi pointed out that the Arab countries did not benefit from the previous agreements, as the volume of intra-Arab trade did not exceed 7%.
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PM opens Sports Expo Egypt 2023
The three-day gathering is being held under the sponsorship of President Abdel Fattah El Sisi on the sidelines of the “Break your Record” initiative.
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Banks across Egypt, Morocco, and Jordan face an uncertain 2023
The recent decline in energy prices and the resilience of tourism may soften the financial and operational impact on the banks, the analysts said.