Egypt

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

Egypt’s sovereign wealth fund appoints Noha Khalil new acting CEO

TSFE's board of directors also approved the certification of the Fund's budget for submission to the general assembly

IMF eases some conditions on Egypt’s $8 billion finance package

Egypt's economic growth to increase to around 5.5 percent as structural reforms to strengthen the business climate pay off

Egypt targets over 15 million tourist arrivals in 2024, earnings to exceed $14 billion

The number of tourist arrivals to Egypt during the first half of 2024 reached a record high of 7.069 million

Egypt outlines strategy to restore, increase oil and gas output to pre-pandemic levels by 2025 with foreign partners

The country is reviving ambitions to become regional LNG hub after clearing petroleum sector arrears

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