News
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Hutchison Ports bags $700 million container terminal deal in Egypt
Hutchison has inked two concession agreements with the Egyptian Government to operate the container terminals in Ain Sokhna and El Dekheila ports.
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Egypt to launch Global Climatech Run 2022
The Global Climatech Run 2022 initiative that will foster tech-based startups to combat climate change.
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Egypt Commercial International Bank launches instant payments
In June 2022, the total value of payments through the InstaPay app reached nearly EGP 2.6bn and the number of transactions and increase of 500%.
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Why did CBE keep interest rates unchanged?
The decision came despite the expectations that went towards raising the rates by 50 or 100 basis points
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Liferay launches marketplace
The platform aims to help companies jumpstart the tailored digital experiences they create on the Liferay platform.
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Four Seasons to expand portfolio in Egypt
The new openings will be located in the New Administrative Capital in Cairo, and the city of Luxor in southern Egypt.
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Egypt’s trade balance deficit decreases by 35.8% in May
Exports rose by 18.3 percent to record $4.01 billion in May 2022, up from $3.39 billion in May of last year.
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President Sisi names veteran banker as caretaker of CBE
El-Sisi named Hassan Abdalla to succeed Tarek Amer, who had held the post since 2015.
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Kashat expands its coverage to serve 40 million more Egyptians!
Kashat celebrates full-country expansion and increases its nano loans limit to support users.Customers can now disburse and repay from ALL e wallets.
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Egyptian startup Convertedin raises $3M
Convertedin, that operates a marketing operating system for e-commerce brands, has raised $3 million in a seed round led by Saudi Merak Capital.
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Trading on Egypt's commodity exchange to start in Q1 of 2023
Ashmawy noted that the commodities that will start trading have been identified, such as wheat.
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Suez Canal Bank accepting applications for 4th Launch SaaS
The bank supports start-ups that provide innovative solutions in areas of digital transformation, fintech, and climate change.
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Egypt considering listing Universal Healthcare Insurance in exchange
This is to diversify its investment portfolio and increase the yields of invested funds, Minister of Finance and UHIS Chairman Mohamed Maait said.
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Egypt’s PM checks on government complaints system
We are keen to continuously monitor the processing of complaints by relevant government agencies: PM.
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Saudi PIF sets up unit to invest in Egypt
SEIC will invest in priority sectors including but not limited to, infrastructure, real estate development, health care and financial services.
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Egypt to produce Nokia phones locally
Talaat said that this agreement comes out of the state’s efforts in creating a supportive climate for the growth of international company investments
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Egypt's current account deficit widens in Jan-March
The figures showed that a net $14.75 billion in portfolio investments left the country in January-March.
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Egypt, Djibouti discuss developing trade exchange, joint investments
Djibouti represents strategic depth for Egypt in Red Sea region, says Djibouti Trade Minister.
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Cartona raises $12M to scale and explore new verticals
Cartona was present in three Egyptian cities; it’s now in 11. The investment will allow them to cover all of Egypt.
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Egypt's M2 money supply up 23.4% y/y in June
Money supply stood at 6.61 trillion Egyptian pounds ($349 billion), up from 5.35 trillion pounds in the same month last year.