News
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Egypt’s supply ministry denies increasing prices of commodities in January
The top official noted that Egypt has a sufficient strategic reserve of commodities, denying any shortage in commodities across the country.
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Egypt announces $2.1 billion investment in oil and gas exploration
The investments were announced for the Mediterranean Sea in partnership with major international companies, El-Molla noted.
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Misr Chemical Industries posts 174.6% YoY profit hike in 5 months
The company recorded a net profit of EGP 219.03 million in the five-month period ended November 30th.
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Egypt's central bank makes exemptions for limits on cash withdrawal overseas
The limits on cash withdrawals in foreign currency were lifted for expats who need the cash for medical treatment or education.
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Government released goods worth $5B from harbors in 23 days
He noted that by the holy month of Ramadan, a cost of $4 billion of merchandise will be released,.
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Launch of Menthum – a pioneering digital saving solution in Egypt
Brings together a novel product concept, an innovative workflow, and a money market fund to create a comprehensive CX.
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Egypt’s financial expansion to decrease to 4.5 percent in FY 2022-23
Throughout the fiscal year 2022-23, inflation is forecasted to exceed over the Central Bank of Egypt’s aimed at range from 5 to 9 percent.
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Egyptian gov't to provide weekly updates on import backlogs
Egypt seeks to resolve the $9.5 billion import backlog soon to keep the economic wheel turning and keep production running.
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ADNOC’s acquisition of 50% Total’s fuel stations in Egypt almost complete
Founded in 1998, TotalEnergies Egypt is among the four largest gas station companies in Egypt with 240 stations.
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Arab Developers Holding inaugurates the largest dancing fountain in Egypt
Huge celebration hosted by the super star Ahmed Saad held at the inuguration.
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Wadi Degla Developments reveals its turnaround strategy
The strategy — which was quietly launched in 2018 — aims to ensure WDD’s performance and sustainability, allowing it to deliver upon its mandate.
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CBE offers one-year incentives to support e-payments
Under new incentives, Egyptian pound-backed transactions made online will be exempted from all fees until December 2023.
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Egyptian government to inaugurate 6 nitrogenous fertilizers plants soon
Abou El Magd added that another for the manufacturing of chlorine and caustic soda is also under construction in Giza's Abou Rawash industrial zone.
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Egypt’s ICT sector grows 16.7% in FY21/22
More than 165 government services were offered on Egypt’s Digital Platform.
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Farid Khamis's daughters sell full shares in Oriental Weavers for EGP 1.38 Bln
Yasmine and her sister Farida sold their entire stake in the company at a rate of 12.31%, with a number of shares amounting to 81.87 million shares.
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Al-Sisi follows up on hydroelectric plant Egypt is building in Tanzania
The dam is considered the largest development project in Tanzania.
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Egypt's new budget targets 5.5% economic growth in new FY2023/24
The Ministry of Finance’s departments were mobilised this week to prepare Egypt's new FY2023/24 budget aiming for a 5.5 percent growth rate.
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Developing countries can reduce impact of recession in 2023
UN Climate Change High Level Champion for Egypt Mahmoud Mohieldin said that developing countries can find ways to alleviate impacts of recession.
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Demand for mortgage financing increased by 94% in just 8 months
Mortgage financing is the main solution to overcome the hikes in real estate prices: Chairperson.
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Polin opens largest water park city in Mideast
Neverland, located in Hurghada, is the latest addition to the growing Pickalbatros Hotels & Resorts portfolio.