News
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Egypt’s exports to South Korea hike by 156%
By end of July 2022, Korean exports recorded $967m, meanwhile, Egyptian exports to South Korea reached $766m.
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Egypt sees surge in outsourcing business
At least 19 global services providers and leading tech companies have announced their expansion plans in Egypt.
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Trade exchange between Egypt, NZ reaches $260m in July 2022
Two months ago, Egypt and NZ signed off an export plan for limes, grapefruit, and all sorts of citrus products.
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Egypt, Qatar sign 3 MoU on ports, social development, business
While Qatar expressed deep interest in investing in Egypt, the latter showed openness to Qatari business in the country.
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Egypt’s economy tripled in size over past six years
Egypt’s GDP growth is expected to moderate to 5.5 percent in the current FY 2022/2023 and to five percent in FY 2023/2024 owing to the war in Ukraine.
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Egypt considers offering $6bln stakes in public companies on stock market
The first tranche of the planned IPOs will be worth a range of between $2.5 and $3bln and will be announced within four weeks.
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Egypt to require wheat suppliers to register in new exchange
GASC added in a letter sent to traders that it will not buy from unregistered suppliers from the start of November.
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Egypt-ICF asserts the role of PPP model in accelerating climate action in Africa
ICF participants asserted the importance of public-private sector partnerships in accelerating climate action in Africa.
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EBRD supports Egypt’s green economy with $100m loan
The loan follows the success of the Green Economy Financing Facility (GEFF) in Egypt and will support an expansion of green lending.
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Egypt severely affected by climate change
Egyptian Minister of Water Resources and Irrigation Hani Suweilam said that Egypt is one of the world's most affected countries by climate change.
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Egypt-ICF 2022 represents strong push for COP27
Touching upon COP27, President El-Sisi said that Egypt is one of the leading countries that set SDG strategic plan 2030.
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Banque du Caire joins the National Bank of Egypt and Banque Misr in a strategic partnership with IBAG
This strategic partnership extends to the participating banks' existing remittance services for Egyptian expatriates and IBAG's reach.
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Egypt's annual inflation rate up by 16.7% in August
The Central Bank of Egypt (CBE) announced that the annual inflation rate rose by 16.7 percent in August, compared to 15.6 percent in July.
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EBRD President Says Bank Invested $10 Bln in Egypt
EBRD President added that Egypt is going through a period of transformation that is highly competitive.
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Egypt to adopt Russian Mir payment system
Russian tourists and companies will be allowed to pay through the Russian Mir system in Egypt ahead of the winter season.
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Founders of Egyptian B2B startup Capiter fired on fraud allegations
Sources said the company was finding it hard to onboard merchants to its platform while running out of money simultaneously
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Egypt’s foreign trade volume increased
It increased to about $98.476bn by the end of March 2022. An increase of about $26.755bn from March 2021.
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Egypt-Saudi Arabia trade exchange jumps 41% YoY in 2021
Samir noted that trade exchange between the two countries amounted to $4.57 billion in 2021, compared to $3.236 billion in 2020.
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Madbouly calls for resumption of development programme between Egypt and World Bank
The development program between Egypt and the World Bank needs to resume in the nearest possible time, in light of the current economic crisis.
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Searches from GCC to Egypt up 151% in H1
Egypt Tourism Authority has partnered with Wego to boost the number of travellers to the country. The campaign recorded over 28 million searches.