News
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Why Egypt (and MEA) could be fertile ground for super apps
The prevalence of low-end mobile phones, as well as high internet costs in the MEA, make superapps an attractive product.
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Egypt’s international reserves inch up to $40.98 bln
Egypt’s net international reserves (NIRs) edged up in January by $45 million to post $40.98 billion, up from $40.93 billion recorded in December.
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Egypt non-oil contraction deepens in January
January PMI data signaled a solid and faster deterioration in business conditions across Egypt's non-oil economy.
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2022 – A year of challenge for capital market
Global economic conditions affect local situation, so monetary and financial policy makers act carefully: Sherif Sami.
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Netherlands receives first-ever LNG shipment from Egypt
The shipment comes as Europe seeks to fill its needs for gas amid fears of a gas supply crisis.
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Egypt's central bank to keep interest rates unchanged
All 18 analysts polled predicted Egypt's central bank would keep rates unchanged at its regular monetary policy committee meeting.
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Egypt rejoins JP Morgan emerging market bond index
Egypt becomes the second country in the Middle East and Africa to be listed in the index.
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Egypt’s YFS gets $7M
Yalla Fel Sekka (YFS), whose business involves building a network of dark stores and micro-warehouses across Egypt secured a $7 million Series A round
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Egyptian social commerce startup Brimore raises $25M
The Egyptian social e-commerce market will be worth over $14.8 billion by 2024.
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Int'l coop. ministry launches development partners' map
In its 2021 annual report, the ministry said that the map sheds light on the distribution of projects funded by multilateral and bilateral partners.
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Egypt to receive $368 mln loan from AMF
The loan to strengthen the country’s financial position and meet emergency needs amid challenges caused by COVID-19.
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Volvo plans to expand in Egypt
Ezz Elarab Automotive Group Opens the Doors to the Latest Volvo Showroom in One Kattameya.
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Egypt’s FM attends 3rd session of Egypt-Oman business council
Shoukry called on Omani investors and private business owners to make the best use of the mega economic and developmental projects in Egypt.
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Egypt-Ukraine trade exchange forecasted to exceed $2bn in 2021
Ukraine considers Egypt key country in maintaining peace, stability in Africa, Middle East.
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Abu Dhabi Commercial Bank – Egypt increases its capital to US$318m
Abu Dhabi Commercial Bank – Egypt (ADCB) has announced increasing its capital to EGP 5 billion (US$318m) from EGP 1.5 billion (US$95.48m).
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US approves $2.56 billion in military sales to Egypt
The sale of 12 C-130 J Super Hercules transports and accompanying equipment is worth $2.2 billion.
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IMF upgrades Egypt’s real GDP growth for 2022 to 5.6%
The International Monetary Fund upgraded Egypt’s real GDP growth by 0.4% in 2022 to 5.6 percent, compared to the fund’s October 2021 projections.
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Egypt announces new travel restrictions
A traveler has to bring a certification of having received a single-dose or two-dose vaccine at least 14 days before arrival.
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Pakistan and Egypt set up a trade working group
The first meeting of the JWG on Trade was held on the side-line of the Pakistan-Egypt Trade Conference by the Ministry of Commerce and Textile.
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Egypt’s Fawry for E-payment seeks to list on US stock market
Fawry, which debuted on Cairo’s stock exchange back in 2019, also announced plans to boost its capital by 800 million Egyptian pounds ($51 million).