News
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IMF held productive discussions on Egypt’s new loan
A staff-level mission to Egypt through a team led by IMF mission chief for Egypt Celine Allard concluded, to discuss a new loan programme with Egypt.
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Egypt in talks with UAE over bi-fuel pickup cars manufacturing
Actual production will start in the second half of 2023.
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EGP 40 million of loose coins and new banknotes issued in July
Egypt’s Finance Minister Mohamed Maait said EGP 40 million of loose coins and new banknotes were issued in July, at a 10 million pounds rise for Eid.
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Egypt eyes investment in basic sectors in South Sudan
These are animal and fish production, food processing, mining, and pharmaceuticals.
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Egypt’s new budget allocates EGP356 bln for social support
Another EGP400 billion will go for improving conditions of public employees including wages and compensations.
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Damen to launch its mobile wallet app in partnership with BKN301
The agreement is part of BKN301’s international growth strategy, which aims to become the leading open-market and cross-border operator.
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Al-Sisi inaugurates several projects within the Digital Egypt Platform
The state is ready to bear the expenses of 100,000 IT students if they meet the requirements.
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World Bank earmarks US$500M for Egypt’s agriculture sector
The loans will see the establishment of the Emergency Food Security and Resilience Support Project.
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Cost of imported wheat and oil burdens state’s budget
The prices of imported wheat and oil have hiked, which poses a burden on the state’s finances and budget, Minister of Finance Mohamed Maait said.
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Banque Misr obtains license to operate in Somalia
Governor of the CBS Abdel Rahman Mohamed Abdullah said that Banque Misr will contribute significantly to strengthening the country’s financial system.
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Remittances from Egyptian expats hike 7.7% in 4 months
In April, the remittances of Egyptians expatriates recorded $3.1 billion, compared to about $2.5 billion compared to the same month of 2021.
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Egypt launches Gosoor e-catalogue for exportable products
The catalogue aims to promote the presence of Egyptian products abroad, especially in African countries.
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Egypt bears $2.4bn annually due to pollution
According to WB estimates, the environmental degradation resulting from air pollution costs Egypt about 5% of the annual GNP, or about $2.4bn/Year.
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Egypt to continue banning export of oxygen for a year
The 1st decision was issued last year within a comprehensive state plan to protect citizens from any possible repercussions of COVID-19.
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Egypt’s GASC seeks wheat in private talks
Offers are being sought for Romanian, Bulgarian, Russian and French wheat.
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Central Bank of Egypt auctions over $1bln debt instruments
The first tranche was valued at EGP 14 billion, carrying a 91-day maturity period until 4 October this year, according to official data.
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Egypt-Brazil trade exchange hit $2.5 billion in 2021
Gamea highlighted special investment opportunities for the Brazilian business community in the Egyptian market in many fields.
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Egypt, UK launch participation council
Ahmed Hafez, spokesperson for the Ministry of Foreign Affairs, explained that Minister Shoukry welcomed the open dialogue between Egypt and UK.
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First edition of ‘Our Country’s Industry’ exhibit kicks off
Senaat Baladna exhibition will be held at the Egypt International Exhibition Centre in New Cairo between 3-5 July.
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CBE reveals indicators of banks’ deposits and investment 2022
Customer deposits rise to EGP 6.980 trillion by end of March, of which 80.8% are for the household sector.