Greece and Egypt signed on Thursday an agreement that sets the stage for an undersea cable that will transmit power produced by renewables from North Africa to Europe, to become the first such infrastructure in the Mediterranean.
The deal was signed (...)
Egypt is set to enter JP Morgan's emerging market government bond index starting on Jan. 31, the investment bank said in a research note on Wednesday.
The North African country is eligible to join the index with an estimated weight of 1.8 percent (...)
The International Monetary Fund (IMF) projected on Wednesday Egypt's government gross debt to reach 91.4 percent of its GDP in 2021, up from the 89.8 percent in 2020.
According to its Fiscal Monitor Report released on Wednesday, IMF expects this (...)
Egypt's stock exchange (EGX) has finished in mixed notes on Thursday, with the benchmark EGX 30 index climbing by 1.05 percent to 10,995 points.
EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) fell by 0.41 percent to 2,636 (...)
Egypt's property developer SODIC signed on Thursday a long-term credit facility of 1.57 billion Egyptian pounds ($99.8 million) with Banque Misr and the Arab African International Bank (AAIB).
The facility aims to finance the company's West Cairo (...)
Norwegian renewable energy producer Scatec signed an agreement on Thursday with Fertiglobe and the Sovereign Fund of Egypt (TSFE) to jointly develop a 50-100MW green hydrogen facility as feedstock for green ammonia production.
Fertiglobe is a joint (...)
Greece and Egypt are set to sign on Thursday a preliminary deal to build a large electricity cable connecting the two countries, a spokesman for the Greek Environment and Energy Ministry announced on Wednesday.
This will be the first agreement of (...)
Siemens Mobility is expecting to finalise contracts for the second and third lines of Egypt's $4.45 billion high-speed electric rail system by the end of the year after financial closing.
The project is already generating a "high level of interest" (...)
Egypt's stock exchange (EGX) has ended mixed on Wednesday, with the benchmark EGX 30 index rising by 0.90 percent to 10,881 points.
EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) decreased by 1.21 percent to 2,647 points, (...)
Ambassador Christian Berger, head of the European Union Delegation to Egypt, has opened on Monday the regional conference of the EU agency for refugees, the European Asylum Support Office (EASO) in Cairo.
During the EASO Regional Conference on (...)
Egypt's stock exchange (EGX) has closed in mixed notes on Tuesday, with the benchmark EGX 30 index adding 0.65 percent to 10,783 points.
EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) fell 0.14 percent to 2,679 points. The (...)
The International Monetary Fund (IMF) has raised Egypt's real GDP growth projections for 2021 to 3.3 percent.
The Washington-based lender maintained its expectation for the country's GDP growth at 5.2 percent in 2022.
In its updated report on the (...)
Egypt's leading fintech player, E-Finance has on Monday set the final price for its initial public and private offerings on the country's stock exchange (EGX) at 13.98 Egyptian pounds ($0.89) per share.
The final deadline for placing orders for the (...)
The International Monetary Fund (IMF) and World Bank 2021 annual meetings have kicked off on Monday in a hybrid format from Oct. 11-17.
The meetings will bring together central bankers, ministers of finance and development, parliamentarians, private (...)
Egypt's stock exchange (EGX) has finished trading higher on Monday, with the benchmark EGX 30 index edging up 0.49 percent to 10,715 points.
EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) rose by 0.72 percent to 2,684 points, (...)
Egyptian state-owned Misr Insurance Holding (MIHC) plans to offer 25 percent of shares in its Misr Life Insurance in a public offering (IPO) in the second half of 2022, chairman Basel El Hini told local press on Sunday.
El Hini said in previous (...)
Egypt launched on Sunday national consultations with the African Development Bank (AfDB) to prepare for the new Country Strategy 2022-2026.
Egyptian Minister of International Cooperation Rania al-Mashat
The new Country Strategy with the AfDB aims to (...)
Egypt raised on Thursday the fuel prices by 25 piastres per litre of gasoline in a quarterly review that links energy prices to international markets.
The prices of 80-octane, 92-octane and 95-octane petrol were increased to 7 Egyptian pounds (...)
Egypt's year-on-year core inflation rose to 4.8 percent in September from 4.5 percent in August, the central bank said on Sunday.
Month-on-month inflation recorded 0.4 percent in September compared to 0.1 percent in the same month of the previous (...)
Egypt's stock exchange (EGX) has ended higher on Sunday, with the benchmark EGX 30 index climbing 1.20 percent to 10,663 points.
EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) went up by 0.07 percent to 2,664 points, while the (...)
The World Bank Group has on Thursday raised its projections for Egypt's real GDP growth for 2021 to 5.5 percent from 4.5 percent forecast made in June.
This is before Egypt's economy hitting 6 percent in 2022, the World Bank added in its regional (...)
United Arab Emirates energy firm Dana Gas said on Wednesday its payments from operations in Egypt and the Kurdistan Region of Iraq jumped by more than 100 per cent in the first nine months of the year.
Collections doubled to $256 million for nine (...)
Egypt plans to start supplying Lebanon with natural gas soon as part of a plan agreed by Cairo, Beirut, Amman, and Damascus to ease a crippling power crisis, said by Egyptian and Lebanese ministers on Tuesday.
Lebanese Energy Minister Walid Fayad (...)
Spanish power generation company Ignis Energia has agreed to sell an unspecified stake to Egyptian financial services company EFG Hermes Holding for a total investment of over €625 million ($727.3 million).
The deal will enable Ignis to own and (...)
Egypt's stock exchange (EGX) has closed mostly higher on Wednesday, with the benchmark EGX 30 index gaining 0.99 percent to 10,536 points.
EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) rose by 0.17 percent to 2,663 points, (...)
