Egypt's unemployment rate finally fell below 10 percent, the first time it has been that low since 2010, Prime Minister Moustafa Madbouly said on Wednesday.
The decrease in the unemployment rate was in part due to the ongoing national projects that (...)
Egypt has signed a €205 million ($239 million) loan with the European Bank for Reconstruction and Development (EBRD) to finance urgent works on one of Cairo Metro's oldest lines.
Egyptian Minister of Investment and International Cooperation Sahar (...)
Egypt's Prime Minister Moustafa Madouly issued decrees on Tuesday approving the allocation of a number of state-owned land plots in various governorates to execute new services and developmental projects.
These projects will be implemented in (...)
Egypt's Prime Minister Moustafa Madbouly issued a decree on Thursday approving the allocation of around 125 state-owned feddans in Port Said for social housing projects.
The lands will be given to the country's Social Housing Fund (SHF) to carry out (...)
Egypt signed on Wednesday a deal with a consortium of three firms to build a 500 megawatt wind farm, part of a plan to meet 20 percent of the country's energy needs from renewables by 2022.
The three firms, namely Engie, Toyota Tsusho (...)
Egypt's Prime Minister and Housing Minister Moustafa Madbouly issued Monday a decree to allocate one of the state's land plot for free in the South of Port Said city for Social Housing Fund (SHF).
The land plot is spanning over 125 feddans in Port (...)
Egypt's Cabinet has ratified Wednesday to allocate a number of the state's land plots over 9675.43 feddans for the country's New Urban Communities Authority (NUCA) to build a new urban community in New Luxor City.
Located 14.8km (9.2 miles) far away (...)
Egypt plans to remove fuel subsidies next year, Oil Minister Tarek el-Molla said on Wednesday.
Cutting subsidies to reduce pressure on government spending is one of the country's main goals as it pushes forward with reforms to revive an economy that (...)
Egypt's government approved on Wednesday a $200 million loan deal signed with the European Bank for Reconstruction and Development (EBRD).
Signed last May, the loan is to be on-lent to state-run Suez Oil Processing Company (SOPC). It aims to support (...)
Egypt's Prime Minister Sharif Ismail has issued Sunday a decree establishing an urban community in Giza's Warraq Island after several months of controversy over rumored evacuation of residents for investment flagships.
The new urban community is set (...)
The Egyptian government approved a draft law to establish a sovereign wealth fund to manage state assets and achieve sustainable development , Planning Minister Hala al-Saeed said.
The minister further noted that the fund aims to manage and make use (...)
Egypt's Cabinet has approved Wednesday to provide additional investments of 460 million Egyptian pounds ($26 million) out of the total surplus of the county's New Urban Communities Authority (NUCA) until June 2018.
This comes as part of the county's (...)
Egypt's Cabinet has approved Tuesday to re-allocate a number of the state-run land plots over 31,000 faddans in Cairo-Alexandria desert highway road in order to build a new urban community.
The 31,000 faddans will be allocated in favour of the (...)
The Cabinet has approved a draft law to establish an authority for Upper Egypt Development, which will be located in Aswan governorate, Minister of Local Development Abu Bakr el- Guindy said.
The authority will be affiliated to the Prime Minister (...)
Egypt plans to boost the value of the local bourse's market capitalisation to reach 3 trillion Egyptian pounds ($169.5 billion) by 2021, Minister of Finance Amr al-Garhy announced Wednesday.
The total value of the Egyptian Stock Exchange's (EGX) (...)
Egypt Cabinet approves a loan agreement of US$200 million the European Bank for Reconstruction and Development (EBRD) provided to Egypt to finance the modernisation of selected gas infrastructure facilities, which shall improve energy efficiency and (...)
Gulf-based Dar Al-Handasah Company (Shair and Partners) has won a mandate to carry out the engineering design of a towers district project in Egypt's new administrative capital.
Egyptian Housing Ministry has received an approval Wednesday from the (...)
The Egyptian Cabinet recently approved a proposed amendment of Article (15 / b) within the new social housing program and Social funding support.
The article amendment aims to form a financial reserve in order to achieve the financial sustainability (...)
Egypt's Cabinet approved Wednesday the allocation of 809.5 feddans or 340,0613 square metres to establish a new urban community in the Nile Delta city of Mansoura.
Earlier in August, Egyptian President Abdel Fattah al-Sisi issued a decree on (...)
The Egyptian cabinet approved Thursday a draft resolution by the board of governors of the World Bank's International Development Association (IDA) to increase Egypt's capital by $5.250 million.
The International Development Association (IDA) is (...)
The three power plants built by German industrial company Siemens in Egypt are set to go online by next May, Egyptian Electricity Minister Mohamed Shaker said Wednesday.
The completion rate in the three plants has reached 90 percent, Shaker (...)
Egypt and the Korea-Arab Society (KAS) signed Tuesday a cooperation protocol to build a $10 billion integrated agricultural city in the North African country.
The city will be stretched over an area of 300,000 feddans in the southeast part of the (...)
Egypt plans to issue a new Eurobond in the third quarter of the current financial year, between January and March 2018, Minister of Finance Amr el-Garhy announced Thursday.
"The exact value of the potential issue is not known yet." el-Garhy told (...)
Egypt is planning to establish a petrochemical complex in Suez, with an investment cost worth more than $4 billion, Petroleum Minister Tarek el-Molla said Thursday.
The Ministry of Petroleum will build the complex in partnership with Ministry of (...)
Egypt, Greece, and Cyprus have signed Wednesday an agreement to establish training and entrepreneurship centres in addition to a number of some joint small firms in communications sector.
The first raining and entrepreneurship centre will be built (...)