News
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Egypt denies intention to sell Suez Canal through newly established fund
The aim of establishing the fund is to increase the authority’s ability to contribute to the sustainable economic development.
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CBE sets new measures for gold exports to support Egyptian pound
CBE sent on Sunday a circular to the banks that includes new measures meant to control the proceeds of gold exports from the local market.
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Egypt hosts second meeting of African AI Working Group
Egypt has hosted the second meeting of the African AI Working Group at Sultan Hussein Kamel Palace in Cairo.
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Majid Al Futtaim inaugurates over $4mln Mall of Egypt Road
The road offers alternative routes to and from key locations in the 6th of October and Sheikh Zayed cities.
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Emirati Chimera to acquire 45% of a subsidiary of GB Auto at a value of EGP 855m
The percentage of GB Capital in GB Leasing’s capital became 55% after the sale.
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Baghdad Conference highlights importance of economic cooperation between Egypt, Jordan, and Iraq
Egypt confirmed commitment to economic projects that were agreed upon in its context, including electrical interconnection projects.
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Egypt-Kuwait trade exchange records $401mln in 11M-22
In 2021, trade exchange between the two nations amounted to $306 million.
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IMF looks for 'a shift flexible exchange rates' in Egypt after end of December
The Egyptian government filed for the new IMF loan in March to address the severe impacts of the Russian-Ukrainian war on the country’s economy.
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Egypt building 18 logistics, commercial zones with $1.61bln investments
These projects cover 14 governorates and provide about 250,000 direct and indirect job opportunities.
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Shark Tank Egypt makes its regional debut at the Grand Egyptian Museum
Shark Tank, the #1 global entrepreneurial reality TV show, will be launched in Egypt in partnership between IMP and Sony.
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19 newcomers join Forbes Middle East's Top 50 most-funded startups 2022
The 50 most-funded startups in MENA have raised nearly $3.2 billion in combined funding.
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Egypt’s Real Estate Development Chamber to propose new financing mechanisms
These successes were based on the continuous follow-up of market developments, cooperation with the Housing Committee in the House of Representatives.
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El Molla reviews projects submitted to the Golden Triangle Authority
The meeting witnessed a review and discussion of offers and investment projects submitted to the Authority in the Golden Triangle area.
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Egypt concludes $14B concessional development financing agreements in 2022
Al-Mashat explained that the agreements are distributed at $11 billion in soft development funds.
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Australia plans to invest in agriculture, energy in Egypt
Ambassador Oppenhorst stressed that Egypt is one of the most competitive and attractive markets for foreign investments.
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Qalaa Holdings records 86% YoY growth in Q3 consolidated revenue
Excluding Egyptian Refining Company (ERC), Qalaa’s revenues increased by 25% YoY to EGP 5.9 billion in Q3 2022.
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Facilitating private sector-led growth in Egypt is crucial, says IMF
IMF recently approved a deal that will provide a $3bln support package to Egypt.
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UAE & Egypt will face a significant shortage of skilled labor for climate-smart farms
This challenge is becoming an increasingly critical issue in the Middle East where a skilled labor gap for climate-smart agriculture is on the horizon
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Orange Digital Center hosts Orange Venture Demo Day
Orange Venture Demo Day was held at Orange Digital Center where 12 Orange Venture Startups from across MEA and the UK attended.
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Al-Sisi expresses pride in strong Egypt-Jordan relations
President Al-Sisi stressed the importance of continuing efforts to deepen ties in various fields.