News
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Egypt focused on training youths for current labour market
Some jobs will be replaced by technology, however, new jobs will appear in their stead.
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US dollar price nears 19 EGP at Egypt's major banks
The US dollar exchange rate registered 19 EGP at the Central Bank of Egypt while it neared 19 EGP at the beginning of Monday's transactions.
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Egyptian expats’ remittances grow 2.1% YoY
Remittances sent by Egyptian expats went up 2.1 percent year on year in the first 11 months of the past 2021/2022 fiscal year.
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FRA receives requests to establish agricultural, climate change investment funds
Authority suggests amendment to regulation to provide sustainability, green bonds: Omran.
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Adnoc Distribution to acquire 50% stake in TotalEnergies Egypt
The partnership with TotalEnergies, includes a diversified portfolio comprising 240 fuel retail stations, 100+ convenience stores, among others.
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National Bank of Egypt, Banque Misr achieve profits of over $5bln
The statements also indicated that NBE achieved net profits after taxes of EGP 29.7bn, as the bank paid EGP 36.3bn in taxes to the state treasury.
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Egypt’s home delivery workers: Toward integration in the formal economy?
Egyptians who work as home delivery couriers – known in Arabic as tayareen, face hard working conditions and enjoy minimal social protection.
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The Fashion Kingdom raises $2.6M in seed funding
Not only does the platform enlist products of all these brands for customers’ viewing and buying pleasure, but it also provides ancillary services.
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Egypt to achieve growth rate of 5.5 percent
the Ministry of Planning and Economic Development issued a report on the economic and social development plan for the fiscal year (23/2022).
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Switzerland offers $1.8 bln for Aswan water project
Swiss Ambassador in Cairo Yvonne Baumann announced that the Swiss Agency for Development and Cooperation (SDC) would offer a grant worth USD 1.8bln.
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CBE explains reasons behind decline in inflation in June
Annual headline urban inflation decelerated for the first time after increasing for six months recording 13.2% in June.
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Egypt 7th in Arab world in Sustainable Development
Egypt ranked 7th out of 20 Arab countries, 4th out of 47 African countries, and 7th in MENA region in the Sustainable Development report 2022.
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Egypt-Germany trade exchange increases to $4.8bn in 2021
The agency indicated that the volume of Egyptian exports to Germany increased to $848.2m in 2021, compared to $646.1m in 2020 — an increase of 31.3%.
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Egypt's central bank issues LE 35.4B in T-bills, bonds
The T-bills were offered in two installments, with the first valued at LE 15 billion with a 182-day term, and the second worth LE 16 billion.
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Egypt, GCC trade in 2021 estimated at $16.1bn
The value of remittances from Egyptians working in the GCC countries increased to $20.9bn in FY2020/21.
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Biden, Al-Sisi discuss cooperation, global supplies of food, energy
Egyptian President Abdel-Fattah al-Sisi and US President Joe Biden discussed cooperation between the two countries.
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Bangladesh and Egypt to derive mutual trade benefits
BGMEA President Faruque Hassan said Bangladesh and Egypt have substantial scope to further engage in trade and investment and derive mutual benefits
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Fitch Solutions projects 13.2% inflation in 2022
Fitch Solutions upgraded its projections for Egypt’s real GDP growth slightly to 6.1 percent during 2022, up from the 6% projected a month ago.
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Egypt’s Nile Revenue committee follows up on water position
Abdel Aty stated that the ministry’s agencies are monitoring in real time the rates of rainfall in the sources of the Nile which are less than average
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Month-on-month inflation in Egypt records negative rate for 1st time in 2022
For the first time since December 2021, a negative inflation occurred recording -0.1 percent.