News
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New Hurghada flights from Budapest on Air Cairo
Budapest Airport will see a 173 percent increase in its capacity to Egypt’s second busiest gateway next summer.
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Unified Development launches its new project in the Downtown area
Explaining that the company is preparing during the coming period to offer housing units in Al-Narjis area in the Beit Al-Watan project.
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Cairo promises to be more welcoming to tourists with a new Egyptian capital
Egypt is building a new, yet-to-be named capital city at a cost of $59 billion that’s scheduled to open in 2023.
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Egypt 15th globally in producing wheat
In the year 2021-2022, wheat consumption in Egypt reached 20.5 million metric tons. In 2022, Egypt is estimated to produce 9.8 million metric tons.
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Egypt's general budget achieves primary surplus LE 10.2bln at 0.1% of GDP
The growth came thanks to an increase in budget revenues by 15.6% during the first quarter of the current fiscal year.
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Minister: Egypt aims to achieve growth rate of 5.5%, primary surplus of 2%
Dr. George said in a statement today that cosmetics exports recorded a significant jump.
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CBE explains reasons for rising interest rates
Many central banks abroad have now signaled that inflation rates may have peaked and begun to decline.
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Madbouly directs government to reduce time required for goods release at ports
This step aims at meeting the increasing demand for strategic commodities and securing them ahead of Ramadan.
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Recession hits mobile market due to high prices, supply shortage
Prices of mobile phones rose at approximately the same rate as the pound’s price drop against the dollar.
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World Bank okays $500 mln in financing for Egypt’s Takaful and Karama social protection programme
The WB announced on Friday $500 million in financing dedicated to expanding and strengthening Egypt’s flagship Takaful and Karama social safety.
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Egypt’s WDD to double construction spend to $81mln in 2023
The developer recently launched EGP1.5 billion ($61 million) ‘Club Town’ residential project in Maadi, Cairo.
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Egypt to build electric vehicles
President Abdel Fattah El-Sissi told the World Youth Forum in Sharm El-Sheikh that he was personally committed to seeing EVs built in Egypt.
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Egypt, Equatorial Guinea discuss joint projects
The two sides probed the current preparations for Malabo’s hosting of the GECF’s ministerial meetings next year, the statement added.
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Egypt replaces Russia as fertilizer supplier to Europe
The council reported, citing a report by the European Commission, that fertilizer exports to Europe surged by 187.5%.
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Sun-tastic! Tourists flock to see solar phenomenon at Egypt’s Karnak temples
The French-Egyptian Center for the Study of the Temples of Karnak was the first to record the solar alignment.
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El Molla announces loan closure for Assiut’s diesel hydrocracking complex project
El Molla confirmed the economic feasibility of this vital project, which serves residents of Upper Egypt.
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Egypt's central bank increases key interest rates by 3%, maintains inflation target at 7% through 4Q of 2024
Analysts had expected that the MPC would raise the interest rates by a maximum of 2 percent (200 bps) to rein in inflation.
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Pachin to decide on the acquisition offer of National Paints in early January
Elite is in the process of finalising the fair value report for the company’s shares: Sources.
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Gold prices increase, 21-karat hits EGP 1760
He added that 24-karat reached EGP 2012, 18-karat recorded EGP 1509, 14-karat was sold at EGP 1174, and the pound of gold was estimated at EGP 14080.
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Egypt to pay local farmers EGP 1,100 for sugarcane ton
The new prices were agreed upon following the global price raise of production inputs over the past three months.