Egypt

flydubai launches daily flights to Egypt’s Al Alamein for summer 2025

With the addition of its summer operations to Al Alamein, flydubai grows its network in Egypt to three destinations including Alexandria and Cairo

Egypt central bank keeps overnight interest rates unchanged

Egypt's annual headline inflation remained broadly stable for the third consecutive month, at 26.5 percent in October 2024

flynas to launch three direct flights between Madinah and Cairo’s Sphinx airport

flynas connects Egypt to Saudi Arabia with more than 120 weekly direct flights from five Saudi cities

G20: Crown Prince of Abu Dhabi engages in talks with Presidents of France, Egypt, and South Africa

Yesterday, Sheikh Khaled also engaged in official discussions with Brazilian President Luiz Inácio Lula da Silva

Egypt’s inflation remains stable for third month straight, reaches 26.5 percent in October

Annual nationwide headline inflation increased to 26.3 percent in October 2024, up from 26 percent in September 2024

EFG Hermes launches $300 million Saudi Education Fund, acquires Britus Education portfolio of 7 schools

After having created the leading K-12 operator in Egypt, EFG Hermes aims to replicate its success story in the Saudi market

COP29: Egypt reiterates 42 percent renewable energy target for 2030, calls for international support

As of July 2024, solar, wind, and hydropower make up 11.5 percent of Egypt's electricity generation 

QatarEnergy expands Egypt exploration footprint, acquires 23 percent interest in North El-Dabaa (H4) Block

Block lies about 10 kilometers offshore the Egyptian Mediterranean shore at water depths ranging between 100 meters and 3,000 meters

Fitch raises Egypt’s long-term foreign-currency rating to ‘B’ with stable outlook

The agency highlighted improvements in external finances driven by notable foreign investments and strengthened policy initiatives 

IMF to review Egypt’s loan program on Tuesday with GDP growth projected at 4.2 percent for FY2025

Georgieva noted that Egypt's inflation reached 37 percent in 2023 but has decreased to between 25 percent and 26 percent

Egypt signs MoU with DP World to explore development of 500-acre public free zone 

This initiative aims to target key industries such as electronics, automotive, apparel, and footwear

What makes Egypt a popular real estate market for GCC investors

As many as 94 percent of wealthy GCC investors have expressed a desire to invest in Egypt

Modon Holding partners with LuLu to develop retail facilities in UAE, Egypt

The two entities will identify prime retail locations, implement smart innovations, enhance logistics, and improve customer experiences

UAE President engages with world leaders on trade and development at BRICS Summit

The summit, which runs until October 24, is themed 'Strengthening Multilateralism for Equitable Global Development and Security,’

Central Bank of Egypt holds key interest rates steady amid inflation control, mixed economic indicators

The committee noted that this decision reflects recent global and local developments

Saudi Arabia, Egypt ink maritime connectivity agreement to enhance passenger transport and expertise exchange

The collaboration areas include yacht and marine passenger transport, plus passenger ferries

Saudi Arabia-Egypt trade exchange surges 41 percent to $8 billion in H1 2024

Egyptian investments in Saudi Arabia amounted to around $4 billion, involving more than 3,000 companies

UAE advances Egypt’s Ras El Hekma project, drives investments from key Emirati players

The development is set to attract $110 billion in investments during its development phase

Ras El Hekma megaproject: ADQ appoints Modon Holding as master developer

The project’s investments are likely to reach $110 billion by 2045, and it’s set to contribute $25 billion annually to the country’s GDP

Egypt’s external debt falls by $15 billion in six-month period, says PM Madbouly

Egypt's external debt stood at $168 billion in December 2023 and fell to $152.8 billion by last June

Egypt’s FDI net inflows surge to all-time high of $46.1 billion in FY2023-2024, says central bank

Net FDI inflows into the non-oil sector rose to $46.4 billion following the $35 billion Ras-El Hekma deal

aiBANK announces major brand name, identity change to Bank NXT

Strategic move aims to usher in a new era of growth, digital innovation and customer-centric solutions

Mastercard, Amazon Payment Services to enable digital payment acceptance across Middle East and Africa

The payment service provider will use Mastercard Gateway for quick, seamless, and secure transactions in the region

Kuwaiti investments in Egypt surpass $20 billion

Efforts are underway to organize the joint trade committee between the two countries as soon as possible