Egypt

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

Egypt invests $300 billion in infrastructure development over 10 years, says minister

El Khatib underscored the need to continue infrastructure development to achieve 6 to 7 percent economic growth

Non-hydrocarbon sectors poised to drive strong GCC economic growth this year: Report

Deal-making in the region remained active, with 214 transactions recorded in H1 2024

Saudi Arabia’s Crown Prince pledges $5 billion investment in Egypt through PIF

Saudi Arabia to provide additional facilities for companies operating in the new and renewable energy sector in Egypt

Saudi-Egyptian investment protection deal to launch in two months, says PM Madbouly

The trade between Saudi Arabia and Egypt surpassed $33 billion during 2022 and 2023

Saudi Crown Prince and Egyptian Prime Minister discuss bilateral relations, aspects of cooperation

Several prominent figures from both sides were in attendance at the meeting 

Egypt’s annual inflation rate stands at 25.6 percent in August 2024, says CAPMAS

The general CPI rose to 231.1 points in August 2024, reflecting a monthly inflation rate of 1.9 percent  

Unlocking MENA’s thriving investment opportunities at the EFG Hermes 10th Annual London Investor Conference

Leaders will convene from September 9 to 12 to discuss innovations in capital markets and regulatory developments

Central Bank of Egypt forecasts easing inflation amid continued maintenance of interest rates

The MPC noted that domestic real GDP growth had moderated to 2.2 percent in the first quarter of 2024

UAE, Egypt strengthen economic ties in key sectors at Arab Economic and Social Council meeting

The UAE is the top Arab investor in Egypt and the third largest globally

Egypt’s net international reserves hit $46.6 billion in August: CBE

Following the Ras El-Hekma deal earlier in the year, Egypt's net international reserves rose $11.2 billion over the last five months

Egypt’s non-oil sector business activity rises for first time in three years, says PMI

Egypt witnessed a sharp pick-up in inflationary pressures as firms faced greater costs due to a weakening in the pound against the U.S. dollar

Algeria joins BRICS New Development Bank: A new era in economic collaboration

By joining the BRICS financial branch, Algeria is advancing its global financial integration

Celebrating Emirati Women’s Day: Visa’s ‘She’s Next’ returns to UAE with third edition

The third edition supports women entrepreneurs in publishing, fashion, food, and more over several months

Egypt announces new oil discovery in Western Desert with daily yield of 7,165 barrels

The well was drilled to a depth of 270 feet into the Paleozoic sands