The Suez Canal Economic Zone (SCZONE) granted land usufruct for an area of 750,000 square meters to the XinFeng Company for iron products. The purpose is to establish a factory for producing hot-rolled iron coils in the Sokhna Industrial Zone, (...)
Tarek El Molla, Minister of Petroleum and Mineral Resources, recently reviewed the ongoing construction of the Suez Methanol Derivatives Company's facility. Situated within the Egyptian Petrochemicals Holding Company (ECHEM) in Damietta Port, the (...)
The Minister of Petroleum and Mineral Resources, Tarek El-Molla, emphasised the need to expedite the construction of the Suez Methanol Derivatives (SMD) plant at Damietta Port to meet high domestic demand, according to the cabinet (...)
The Suez Canal Economic Zone (SCZONE) hosted a trade delegation from China's Zhejiang Province on Tuesday. The delegation, led by Chen Zhicheng, Deputy Director General of Zhejiang's Department of Commerce, included representatives from major (...)
As a part of the "Decent Life" initiative by President Abdel Fattah Al-Sisi, Egypt's Ministry of Health and Population has initiated 90 free medical convoys across various governorates, from 16 to 30 April.
Hossam Abdel Ghaffar, the spokesperson for (...)
The General Authority of Suez Canal Economic Zone (SCZONE) has successfully attracted about $894 million in investments since January 2024, with Chinese investments accounting for 40 per cent, according to chairman Waleid Gamal El-Dien, as stated by (...)
Egypt's economic growth is expected at 2.8 per cent in the 2024 financial year – which runs from July 2023 to June 2024, the World Bank said on Monday.
The growth outlook for 2024 was reduced from 3.5 per cent as forecast in January.
According to (...)
Oil prices edged up roughly 1 per cent on Friday due to geopolitical tensions in the Middle East. Despite this gain, oil closed the week with losses due to the International Energy Agency's (IEA) downward revision of global oil demand growth and (...)
Egypt's General Authority for the Suez Canal Economic Zone (SCzone) has signed a $40 million contract with Turkish group Eroğlu Global Holding A.S. for a jeans factory project in the West Qantara Industrial Zone.
The project, spanning an area of 62 (...)
An Egyptian expatriate plans to launch a €100m factory for refurbishing and recycling smartphones in the Suez Canal Economic Zone (SCZONE).
Soha Gendi, Egypt's Minister of Emigration and Egyptian Expatriates' Affairs, met with Samuel Mathias, a (...)
حصلت المنطقة الاقتصادية لقناة السويس على شهادة شراكة نموذج أهداف التنمية المستدامة للمناطق الاقتصادية "SDG Model Zone Partner" من التحالف العالمي للمناطق الاقتصادية الخاصة Global Alliance of Special Economic Zones "GASEZ"، وقد تم الإعلان عن هذا (...)
The Suez Canal Economic Zone (SCZone) was certified on Wednesday as an SDG Model Zone Partner by the Global Alliance of Special Economic Zones (GASEZ), making it one of the top 50 out of 7,000 represented zones.
The selection process, guided by (...)
The Suez Canal Economic Zone (SCZONE) has announced its receipt of the Sustainable Development Goals Model Zone Partner certificate, bestowed by the Global Alliance of Special Economic Zones (GASEZ). This honour was revealed at the UNCTAD Global (...)
Suez Canal Bank announced that it has completed measuring the carbon emissions of about 70% of its financing portfolio for direct facilities, in cooperation with DCARBON and ESG.
This step is considered a leading achievement in the Egyptian banking (...)
The International Monetary Fund's (IMF) executive board has approved the the augmentation of the current loan programme with Egypt by $5 billion, the IMF said in a statement on Friday.
"The Executive Board of the International Monetary Fund (IMF) (...)
In a significant move to bolster Egypt's grain storage capabilities, Feerum Egypt has announced the establishment of a new factory dedicated to the design, manufacture, and construction of grain storage silos in the East Port Said region. The (...)
Egypt's Port Said development on Wednesday signed a contract for land allocation to Feerum Egypt for the establishment of silos manufacturing plant, as per a cabinet statement.
The project, spanning 51,950 square metres, is being implemented within (...)
Egypt's General Authority for Suez Canal Economic Zone (SCZone) and Saint-Gobain Glass Egypt signed €160 million ($173.2 million) investment deal to establish a state-of-the-art flat glass manufacturing facility, the Cabinet announced.
The (...)
Egypt's General Authority for Suez Canal Economic Zone (SCZone) has secured 127 projects in the period from July 2023 to March 21 2024, totalling $2.8 billion in investments, as per a statement from the Cabinet.
In nine months, 61 projects have (...)
Within nine months, the Suez Canal Economic Zone (SCZONE) has secured contracts for 127 projects, totaling an investment of approximately $2.8bn. Out of these, 61 projects have received final approval, boasting a foreign investment rate of (...)
Egypt's Minister of Foreign Affairs, Sameh Shoukry, hosted Vivian Balakrishnan, the Foreign Minister of Singapore, on March 23rd during his official visit to Egypt spanning the 22nd and 23rd of March.
Central to their discussions were the robust (...)
Waleed Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), presided over the groundbreaking ceremony for Saint-Gobain's third glass production facility. The new factory, covering 200,000 square meters, represents a €175m investment (...)
Half of the workers at Israel's Eilat Port are in jeopardy of losing their jobs due to a significant financial downturn caused by disruptions in the Red Sea shipping lanes, as highlighted by Israel's main labour federation, Reuters reported.
This (...)
The Suez Canal Economic Zone (SCZONE) witnessed on Wednesday the groundbreaking of Saint-Gobain's third glass production factory and a solar plant.
The factory, located in the Sokhna integrated industrial zone, spans 200,000 square metres and (...)
Catalyst Capital Egypt, through its subsidiary CCA, is poised to secure influential minority stakes in three diverse sector companies.
CEO Abdel Aziz Abdel Nabi of Catalyst Partners disclosed to Daily News Egypt that the trio of deals, cumulatively (...)