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Is EGX poised to rebound in May after April’s losses?
Some hope that Egypt’s Stock Exchange (EGX) will regain in May the heavy losses incurred in April in response to the geopolitical tensions.
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LE6.5bn worth investments allocated for Ismailia in FY 2023-2024
Investments valued 2.9 billion pounds will be directed to the Suez Canal, with a share of 45 percent, followed by the higher education sector.
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Egyptian oil & gas firm books jack-up rig on 21-month drilling gig in Gulf of Suez
ADES has secured a new drilling assignment for one of its rigs off the coast of Egypt with Suez Oil Company (SUCO).
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Egypt’s Mashrou’ak program funds 211,000 projects worth $590 million
The Minister promoted investment and private sector activities in agricultural industrialization with 341 technological centers.
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New corruption case in the Ministry of Supply and Internal Trade
The main defendant in the case gave instructions to disburse quantities of bran during this period, without a document.
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Egypt Allocates More than Half of New Budget 2024/25 to Social Protection
The government allocated 23 billion pounds to support and stimulate exports, and 17.5 billion pounds to support industrial and agricultural activities
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Bitget Wallet witnesses 300 % growth in MENA
Countries in the MENA region such as Egypt and Saudi Arabia are among the top 15 countries for Bitget wallet downloads globally.
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Saudi Arabia and Egypt retain top spots in MENA travel preferences: Wego study
The report further revealed that the UAE ranked as the fourth favorite destination, followed by Pakistan, Kuwait, and Turkiye.
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Alstom: Building Plants in Egypt for Rolling Stock Production
Alstom plant in France is currently assembling trains for the Cairo metro, and the company is also preparing for the launch of the East Nile monorail.
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Egypt's oil exports increased by 26 percent in February
The overall value of Egyptian exports in February amounted to approximately $3,36 billion, down slightly compared to $3,52 billion in 2023.
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Egypt’s Royal Developments unveils final phase of Monarch project in Mostakbal City
Spanning over 30,000 square metres, the fourth phase will offer a variety of unit sizes including duplexes, company CEO Karim Shaalan told Zawya.
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Why Fitch's Revision of Egypt's Outlook to Positive Matters?
At the same time, the agency expected in its report on Egypt that foreign exchange reserves would continue to rise further to record $53.3 billion.
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Egypt & Belarus Sign Memoranda to Boost Economic Cooperation
The annual trade exchange between Egypt and Belarus amounts to USD 95 million on average.
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Saudi-listed ADES wins jackup drilling contract in Egypt
The new award follows the group’s recent contracts in Qatar and Thailand, slated to commence operations in the second half of 2024.
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PM reviews efforts of unified gov’t complaints system in April
The state is doubling efforts to receive complaints from the citizens.
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Elsewedy Electric, Bühler Group, and IBC Group sign agreement to advance grain silos industry in Egypt
This strategic alliance aims to promote the localization of grain silo manufacturing in Egypt, thereby enhancing food security.
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Egyptian onions replace Moroccan ones in West Africa
Since March 2023, Morocco, confronted with a difficult drought season, has banned onion exports to West Africa.
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Mazaya Developments Launches 4Th Project In New Capital With EGP 5Bn Investment
The new project boasts a modest built-up area, occupying only 30% of the total land, with buildings spanning 106 sqm in width.
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Egypt’s foreign currency reserves to soar $16.2bln in FY24/25
The report expected the country’s reserves to rise further by $2.60 billion in FY25/26.
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JPMorgan expects major surge in Egypt's foreign exchange reserves
The announcement from JP Morgan comes in the wake of encouraging developments in Egypt's financial landscape.
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Egypt braces for second summer of power cuts as gas supplies dwindle
The cuts started as Egypt allocated more of its gas production for export to raise scarce dollars, importing polluting fuel oil to keep some power.
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Egypt's general treasury pays EGP 3B to support funds’ workers
During the final quarter of the ongoing fiscal year, a sum of EGP 715.7 million was earmarked to pay the entitlements of employees within the funds.
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China's home appliance giant Haier inaugurates industrial park in Egypt
Haier Smart Home Co., Ltd., a subsidiary of the Haier Group, invests 135 million U.S. dollars to build the Haier Egypt Ecological Park.
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Finance min.: Egyptian economy restoring trust of int’l rating agencies with positive outlook
The latest rating issued by Fitch Ratings revised the Outlook on Egypt’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to Positive.
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Air Cairo expands fleet with 24th Airbus A320
Air Cairo had confirmed that on the occasion of the start of the summer season, a number of new air routes will be operated.
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Egypt private sector faces challenges applying new minimum wage increase
Egypt’s private sector is struggling to implement the minimum wage limit the National Council of Wages (NCW) has set recently.
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Egypt seeks investment boost from South Korea across key sectors
Madbouly highlighted several sectors that Egpyt seeks to boost investment in, including electronics, oil and gas, nuclear energy, and iron and steel.
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US authorities return antiquities linked with notorious smuggling ring to Egypt
The Egyptian items repatriated by the Manhattan District Attorney's office this week, collectively valued at $1.4m.
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Beltone Launches $100M Private Credit Platform for Egyptian Exporters
BIH is looking to establish a comprehensive facilitatory platform to aid the growth prospects of the Egyptian economy.
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Egyptian potato exports to Asia immune to red sea crisis
The potato sector owes its immunity to supply chain problems to the bigger crisis in global production of this essential crop for consumption.