News
-
Pound’s plunge has Egypt poised for another rate hike
Authorities need to quell inflation made worse by devaluations. Rate rise would be the fifth by regulator in less than a year.
-
Egypt: ZEOT’s profits plunge 86.5% YoY in 6 months
Extracted Oils and Derivatives Company’s net profits after tax declined 86.5% year-on-year in the first half of fiscal year 2022/2023 to EGP.
-
Egypt to invite bids for High Dam power expansion
Egypt is planning to issue tenders for a project to boost power generation at the ‘High Dam’ in Aswan.
-
Egypt’s Central Bank to issue dollar-denominated T-bills next week
The step reflects the Central Bank of Egypt’s desire to respond to investors’ expectations that interest rates will take an upward curve.
-
Remco appoints financial advisor FinBi to assess its investments
Remco is an Egypt-based company that operates in tourism and entertainment projects development and construction.
-
Discussed: benefits of Egypt's joining BRICS's new development bank
The Parliament approved an agreement that allows Egypt to join BRICS group's New Development Bank.
-
Misr Oils and Soap’s turns profitable in H1 FY 2022/23
MOSC is an Egypt-based company engaged in the extraction and refining of oils from plants and animals, and the production of soap and detergents.
-
State keen on pushing forward economic development
The premier said the president directed to accelerate efforts vis-a-vis the golden license issuance.
-
Sixty percent of Egypt’s gas exports went to Europe
The Egyptian Ministry of Petroleum announced Egypt has exported 60 percent of its natural gas production to Europe for the first time in history.
-
Egyptian financial services provider MNT-Halan valued at $1B in $400M funding
The round includes $260 million in equity financing and $140 million through two securitized bond issuances secured within the past year.
-
Egypt's Iqat mine produces first gold bar after 2020 discovery
Mining in the country's Eastern Desert is being carried out by state-owned Shalateen.
-
Egypt ranks 3rd in venture debt funding in MENA
Egypt received a total of $88 million in debt funding from 2018 to 2022, and accounted for more than 27% of total deals in the region.
-
Tunisia, Egypt seek increased cooperation in vocational training, employment
Commitment to scale up cooperation in vocational training and employment and promote services in relevant fields of intervention.
-
In Egypt: Construction begins on Africa's largest solar power plant
AMEA Power reached financial close for the delivery of 1 GW of renewable energy projects in Egypt and construction started January.
-
Egypt, Russia plan to increase share of settlements in national currencies
Shoukry also focused on the growth of trade turnover between Russia and Egypt, which roughly equaled $6 bln in 2022.
-
Gov’t to announce soon plan of listing 20 companies on Bourse
This came after a cabinet meeting that aimed to review a number of economic files.
-
Egyptian PM Madbouly heads to Senegal to participate in Dakar Financing Summit
Madbouly will participate on behalf of Egypt’s President Abdel Fattah Al-Sisi, in the summit which will run on 2 and 3 February.
-
Saudi Arabia tops Arab countries with 18 million visitors until Q3-2022
Saudi Arabia ranked as the top Arab country with the most tourists during the first nine months of 2022, with 18 million visitors to the country.
-
Sovereign Fund of Egypt to acquire 20% of B Healthcare
The first agreement stipulates that the Sovereign Fund of Egypt is committed to investing EGP 100m in B Healthcare.
-
Egypt’s Haggan Group seeks to export ten date containers
The Egyptian company has Brazil among its main export targets for 2023, according to an interview businessman Khaled El-Haggan gave to ANBA.