News
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Al-Sisi directs banks in Egypt to continue local market support
Directives are to ensure the country achieves its desired goals, and support MSMEs and those that deal with social protection.
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GAFI, Siemens discuss German business engagement in Egypt
Company has committed to three 14.4GW power plants in Egypt, at a total cost of €6bn, among other projects.
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Uber launches new product 'Connect' in Egypt for first time in MENA
Senders can ask couriers to deliver groceries, pick up laundry, or other small items and packages on their behalf via Uber Connect.
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Egypt's real estate market to remain robust
In order to attract new developers and investors, the Central Bank of Egypt has reduced interest rates by 3%, the lowest rate since 2016.
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4 investment opportunities to Egypt sovereign fund
Tawfik added in statements in a TV interview that these opportunities include administrative buildings in the center of Cairo.
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Egypt’s hotel market records 50% y-o-y decline in H1 2020
Branded hotel keys is projected to increase to 83,100 in FY 2020.
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Egypt to launch commodities exchange by end-August
The commodities exchange will enhance transparency in commodity pricing, which will contribute to creating greater price stability, the minister added
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Egypt discusses Amazon expansion plans in the local market
Abdel Wahab told Sahy that GAFI would provide the necessary support for the company to expand its trade activities in the country.
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Suez Canal tunnels open 24 hours a day
The tunnels are Tahyia Misr in Ismailia and July 3 in Port Said.The 24-hour opening is a first since they were inaugurated.
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Trade exchange bet. Egypt, Indonesia ranges bet. $1.2B-$1.5B in 5 years
Egypt is one of the main commercial and pivotal partners of Indonesia, and it is the main gateway for our products to enter Africa.
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Egypt’s FRA licenses 8 money market companies in 7M 2020
The FRA Chairperson added that in the first seven months of 2020, a total of 16 companies have obtained the required licences.
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Meet the man behind Cairo’s co-working movement
MQR founder Muhammad Nagi speaks to Alicia Buller about the trials and tribulations of building one of Egypt’s leading shared office communities.
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Egypt to offer 26 T-bills, bonds tenders worth EGP 185.25bn in August
Auctions part of government plan to borrow EGP 600bn from local market in Q1 of FY 2020/2021.
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International tourism loses $320bn in 5M 2020
Losses caused by COVID-19 up to May are already three times that of 2008 Global Economic Crisis, says UNWTO.
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JP Morgan praises Egyptian economy performance amid pandemic
In July, Fitch Ratings affirmed Egypt's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B+' with a Stable Outlook.
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Egypt's private economic activity hits 1-year high
Output strengthened to 50.9, its highest reading in a year, while new orders came in at 51.4, the highest since November 2017.
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Egypt invites Musk after ‘aliens built pyramids’ tweet
Egyptian International Cooperation Minister Rania al-Mashat, however, saw a marketing opportunity to help revive the country's tourism
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Egypt's Suez Canal revenues up 4.7% in last 5 years
In 2015-2020, 90,000 ships transited the Canal carrying 5.5 billion tonnes of cargo, up from 86,600 ships with 4.6 billion tonnes in previous 5 years.
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Egypt and Greece ink exclusive economic zone deal
The deal allows Egypt and Greece to move forward in maximizing the benefits of the available resources in the exclusive economic zone for each of them
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Egypt pumps more coins into market during Eid Al-daha holiday
Egypt's Ministry of Finance increased the amounts of small denomination coins pumped in the market by 30% during Eid Al-Adha's four-day holiday.