News
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Hassan Abdalla named CBE governor for third term
President Abdel-Fattah El-Sisi has renewed Hassan Abdalla’s mandate as acting governor of the Central Bank of Egypt (CBE) for a third consecutive term
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SCZONE, Toyota Tsusho discuss inauguration of Ro-Ro terminal in West Port Said
The SCZONE team met with representatives of Toyota Tsusho—one of the three international partners operating the West Port Said Ro-Ro terminal.
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Egypt’s National Railways Authority launches new service to improve passenger comfort
The first trips will begin on Train #905/916, starting Thursday, August 21.
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El-Sisi directs efforts to increase dollar inflows, support economic growth
A steady flow of foreign currency is crucial for securing a reliable supply of essential goods, petroleum products, and manufacturing inputs.
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Juhayna's consolidated net profits near $16.1mln in H1-25
Net sales hit EGP 14.16 billion in the first six months (6M) of 2025, signaling a year-on-year (YoY) jump from EGP 11.47 billion.
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Egyptian Exchange Releases Its First Mobile App
The Egyptian Exchange launches its first mobile app, offering real-time market data, news, and community forums. Currently in beta on Android.
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Egypt’s car boom: How local factories, falling prices are reshaping the market
Egypt's H1 2025 vehicle sales nearly doubled (+96.9%), as local assembly overtakes imports, signaling rapid revival in auto manufacturing.
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Petroleum Ministry saves $3.6 bn in fuel import costs in FY 2024-2025
Egypt's FY 2024/25 boosted domestic energy output cut fuel import bill by $3.6 bn, aided by incentives and LNG infrastructure upgrades.
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Egypt posts record primary budget surplus of LE 629B in FY2024/25
Egypt achieved a record LE 629 B primary surplus (3.6% of GDP) in FY 2024/25, driven by tax hikes, revenue growth, and private investment gains.
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FRA issues Basel III-based solvency standards for non-banking finance sector
Egypt’s FRA mandates Basel III-aligned solvency rules for non-banking finance firms, phased in from Jan 2026, full rollout by Jan 2027.
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Egypt’s unemployment rate eases to 6.1% in Q2 2025
Egypt's unemployment rate falls to 6.1% in Q2 2025, as labor force grows to 33.6 M and employment rises while jobless numbers drop.
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Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation
Egypt and UNDP reviewed climate, biodiversity, Red Sea protection, and community green initiatives, cementing long-term environmental partnerships.
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Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures
Egypt captures 315,000 m³ of rainwater in Sinai during August storms, boosting flood resilience via dams, artificial lakes, and underground reservoirs
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Egypt aims to attract potassium investments
Egypt seeks investors for potassium, kaolin, iron ore, and geopolymer plants, offering incentives and access to over 70 markets with zero tariffs.
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Egypt, Jordan strengthen digital ties with Coral Bridge Cable
Egypt and Jordan launch the Coral Bridge submarine cable, enhancing connectivity between Asia, Africa, and Europe.
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El Nasr to resume automotive production
During his tour, the minister reviewed operations at the bus factory, which is currently producing several models, including the “Nasr Sky”.
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Sailun Group plans billion-dollar project in Egypt
The Sailun Group, already one of the fastest-growing tire manufacturers , is apparently planning to build a tire factory in Egypt.
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Breadfast raises $10 million from the EBRD for its expansion
This transaction values the company between $382 and $400 million. The funds will be used to strengthen distribution centers in Cairo, Giza
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Infinity Power reaches fin close on 200-MW wind farm in Egypt
The Ras Ghareb wind farm has a power purchase agreement (PPA) in place with EETC.
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Egypt, China explore agricultural research partnership
The collaboration aims to boost Egypt’s food security and narrow gaps in strategic crops like rice, maize, and soybeans.