Egypt

Financial inclusion rate in Egypt rises to 71.5 percent in June 2024, says CBE

Number of financially included women has risen in the last few years, growing by 252 percent from 2016 to June 2024

UAE’s Masdar to launch 4GW solar energy station in Egypt

Masdar's investments in Egypt's renewable energy sector fall in line with the country's National Strategy for Climate Change 2050

Abu Dhabi Chamber sees 23.8 percent year-on-year growth in certificates of origin

This growth underscores the chamber's efforts to boost trade opportunities and enhance the UAE's international trade footprint

Egypt’s external debt falls 2.5 percent to $160.6 billion in Q1 2024

Egypt's external debt to GDP ratio reached 39.8 percent in the first quarter, down from 40.5 percent at the end of June 2023

Abu Dhabi’s Masdar, Infinity Power to build 200-megawatt wind farm in Egypt

The MoU secures a long-term supply of renewable energy from a large onshore wind project in Ras Ghareb, Egypt

Egypt’s private sector fuels 37 percent of investment, driven by 293 reforms

The report shows that 64 percent of measures focused on boosting investment and industry

Telecom Egypt revenues surge 35 percent to $774 million in H1 2024

Company's EBITDA reached EGP15.5 billion, up 29 percent annually and recording a margin of 41 percent

What does Egypt’s new carbon market mean for the future of climate finance?

The move is a step towards a mandatory market, requiring carbon reduction projects and emissions calculations

EFG Holding revenues surge 63 percent to $103 million in Q2 2024

The group’s net profit after tax and minority interest rose 95 percent annually to EGP791 million in Q2 of 2024

Egypt, UAE sign $3 billion agreement to establish Mediterranean logistics trading zone

Agreement includes the possibility of supplying petroleum products to the local market

Egypt targets sub-10 percent inflation by 2025-2026 as CAPMAS data shows easing price pressures

The country’s annual urban consumer price inflation slid to 25.7 percent in July from 26.5 percent in June

Egypt’s inflation slows for 5th straight month to 25.7 percent in July

Egypt's inflation rate has declined for the last five months after reaching a record high of 38 percent in September 2023

Egypt’s overseas workers send home $7.5 billion in Q2 2024, signaling success of IMF-inspired currency reform

Before the March reforms, the pound was officially pegged at 30.85 to the U.S. dollar, but traded as low as 74 on the black market

Egypt to launch Saudi investment office in Cairo this month

By November 2023, Saudi Arabia's investments in Egypt reached $6.3 billion across 7,444 projects

Egypt’s net foreign assets positive for second straight month in June at $12.72 billion

Total foreign assets of both the CBE and commercial banks reached EGP3.634 trillion in June

Egypt’s trade deficit shrinks 10.3 percent to $3.57 billion in May 2024

Despite the narrowing trade deficit, Egypt's current account deficit widened in the first nine months of fiscal year FY 2023-24 to $17.1 billion

EFG Hermes ONE rebrands, launches new seamless trading experience

App's new trading options include market price, limit price, same-day trading, margin trading, short selling and conditional alerts

UAE faces 11.7 percent rise in malware detections as email attacks surge 293 percent globally: Report

Cybersecurity experts stressed the need for improved vigilance and protective measures against growing threats

Egypt’s non-oil trade deficit declines 16 percent to $15.9 billion in H1 2024

The decline in Egypt’s non-oil trade deficit during H1 of 2024 was primarily due to a $1.2 billion decline in imports

Egypt’s Suez Canal revenues surge to $170.7 million in 2023-24

Egypt's Suez Canal secured contracts worth $5.116 billion for 218 projects during 2023-24

IMF completes third review for extended arrangement with Egypt, approves $820 million disbursement

The decision follows a positive economic assessment since the program's launch in December 2022

Egypt signs $342 million in agreements to boost oil, gas production

Cheiron Energy to increase natural gas production from the West Burullus offshore field development project