News
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Kremlin confirms agreement to fully resume flights between Russia, Egypt
Vladimir Putin and Abdel Fattah al-Sisi, that they agreed to fully resume flights between the airports, including Hurghada and Sharm ElSheikh.
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Insurer for Suez grounded ship appeals detention by Egypt
An insurer of the Ever Given cargo ship filed an appeal in an Egyptian court over the detention of the vessel by authorities.
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RDIF to produce over 40m Sputnik V doses in Egypt
RDIF and Minapharm will initially supply over 40 million doses per year. Production will take place in Minapharm's biotech facility in Cairo.
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Egypt to allocate EGP 1.25 tln for investments in FY2021/22
Investments directed to productive sectors will increase by 125%, for building up people will rise by 70%, and in service sector will go up 30%.
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Faisal Bank of Egypt’s business volume rises
Faisal Islamic Bank of Egypt (FAIT) levelled up 11.2% Year on Year (YoY) by the end of March 2021.
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Egypt, Hyundai to discuss car replacement initiative amid component shortages
Global producers such as GM, Ford, and Stellantis have witnessed production cuts due to shortages of semiconductor chips
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NBK-Egypt launches new corporate banking solution
The NBK was founded in 1952 as the first indigenous bank and the first joint-stock company in Kuwait and the Gulf Region; it is considered the largest
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Coronavirus forces 15% of Alexandria restaurant owners to abandon business
The most hurt by the pandemic are the owners of large restaurants located in major commercial malls, whose rental value reaches about LE200,000 montly
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Taking Egyptian SMEs Online with the CBE Initiative
Egypt is a huge Middle Eastern economy with a population now reaching over 102.33 million, enjoying a period of relative macroeconomic stability.
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iMile launches in Egypt
iMile, a technology-driven delivery service, has officially launched in Egypt with operations in Cairo and Suez.
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Egypt can strengthen competitiveness, integration into global economy
Africa's economic recovery process from the pandemic will mainly depend on the financial capacity of African countries in addressing immediate shocks.
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Egypt's current account deficit widens to $4.8 billion in October-December
Remittances from Egyptian workers abroad rose to $7.49 billion in October-December from $6.96 billion a year earlier.
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Annual Sharm El-Sheikh Rendezvous, FAIR 27th Conference to kick off in September
Choosing Sharm El-Sheikh to host event confirms Egypt’s position as tourist destination, and attractive point for holding international forums.
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Egypt parliament discusses new budget
Parliament has begun discussing the state’s 2021-22 budget and development plans.
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Egypt, Italy discuss strengthening cooperation in tourism, archaeology
During the meeting, the two sides discussed organizing a celebration marking the 40th anniversary of the rescue of the Philae Temple.
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Opportune time for archaeotourism in Egypt
The memorable Pharaohs’ Golden Parade and recent astounding archaeological discoveries will help draw more high-end cultural tourists to Egypt.
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Egypt’s Suez Canal Authority, Japan to strengthen bilateral cooperation
Suez Canal is very important international sea lane for maritime logistics, says Ambassador Noke Masaki.
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Rania AlMashat participates in Women in Leadership Engagement Session
Al-Mashat spoke about her personal career and importance of women's economic inclusion in J.P. Morgan’s “Women in Leadership Engagement Session”.
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EBRD to support Egypt's green and sustainable economy
The European Bank for Reconstruction and Development (EBRD) is one of Egypt’s largest financial partners.
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Egypt to release Ever Given vessel after owners pay up
The vessel blocked the channel for six days, costing the Suez Canal Authority $15 million per day in lost revenue.