News
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BMI research raises Egypt’s GDP growth forecast to 5% for FY2024/25
BMI Research raises Egypt's GDP growth forecast to 5% for FY2024/25, citing investment rebound, lower rates, and reduced export drag impact.
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Afreximbank ’s assets rise from $6 billion in 2015 to $40 billion in 2025
Afreximbank holds ceremony marking growth from $6B to over $40B in assets under new President George Elombi in New Administrative Capital.
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Madbouly Inaugurates Gas Recovery Project at NPC Refinery
The PM inaugurates an EGP 1.1B gas recovery project at the NPC Suez refinery, producing 340,000 tons annually of butane and naphtha feedstock.
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Egyptian-Saudi partnership launches new platform to boost PropTech entrepreneurship
Egyptian-Saudi partnership launches PropTech platform in Cairo via Coldwell Banker, Modern Solutions, and Saudi Arabia's Edafa Venture collaboration.
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Wadico Launches Eco-Friendly Phosphate Production Facility
Wadico launches an eco-friendly phosphate production line with a 600,000 tons annual capacity using PLC automation and pollution control technology.
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Egyptian Cleantech Startup Collects Used Cooking Oil and Turns It Into Biodiesel
Cleantech startup Tagaddod raises a $26.3M Series A to expand used cooking oil collection for biodiesel across the Middle East and Africa regions.
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PM says presidential directives to advance development projects in Suez
PM visits Suez to inaugurate education, health, energy projects and inspect SCZONE developments in Ain Sokhna following presidential directives.
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Saudi Arabia undecided on investing in Egypt's Red Sea coast
Saudi Arabia focused on domestic hotel expansion, undecided on investing in Egypt's Red Sea coast despite 2034 World Cup hosting plans.
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World’s largest museum devoted to ancient Egypt to open by Giza pyramids
Grand Egyptian Museum opening after twenty years in development, originally scheduled for 2013, finally set to welcome visitors near Giza Pyramids.
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Goldman Sachs forecasts Egypt to rank among world’s top 10 economies by 2075
Egypt is projected to become one of the world’s ten largest economies by 2075, according to a long-term economic forecast by Goldman Sachs.
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EU pledges €5 billion for Egypt’s small businesses
The EU pledges €5B for Egypt's small and micro-enterprises, with €49B in total EU investments. Free access to AI platforms is also granted.
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Non-oil exports of Egypt increase by 21% in 2025
Egypt's non-oil exports surge 21% to $36.6B in nine months of 2025, driven by trade reforms, infrastructure expansion, and private sector growth.
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Egyptian remittances surge to $26.6B in 2025
Egyptian remittances surge 47.2% to $26.6B in the first eight months of 2025, up from $18.1B in the same period the previous year, per official data.
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Madbouly inaugurates OPPO’s mobile phone factory in Egypt
PM Madbouly inaugurates OPPO's mobile phone factory in 10th of Ramadan City, part of the Chinese firm's $50M Egypt manufacturing expansion plan.
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Egypt-EU summit ushers in new era of strategic partnership with multi-billion euro agreements
President Sisi attends the inaugural Egypt-EU Summit in Brussels, solidifying a strategic comprehensive partnership with a €7.4B financial package.
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Egypt officially joins Horizon Europe
Egypt officially joins the Horizon Europe research program, becoming second African country after Tunisia with full access to EU innovation funding.
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HSBC to review retail banking business in Egypt
HSBC announces a strategic review of its retail banking business in Egypt as parent company HSBC Holdings evaluates its market operations strategy.
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BasharSoft Acquires HR Consultancy iCareer in Egypt
BasharSoft acquires HR consultancy iCareer, plans 100-employee expansion, targets $25M revenue, and eyes more JobTech acquisitions regionally.
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Al-Sisi reviews final preparations for Grand Egyptian Museum opening
President Al-Sisi reviews final preparations for the Grand Egyptian Museum opening ceremony scheduled for November 1, 2025 in a major cultural event.
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Banking leaders highlight role of financial sector in advancing Egypt’s Vision 2030
The Egyptian Council and Canadian Egyptian Business Council hold Financial Sector Leaders Conference on banking's role in financial inclusion by 2030.