Public investments directed to Upper Egypt during FY2018/2019 through FY2020 / 2021 amounted to EGP 104 billion, with a growth rate of about 27 percent, compared to the three previous years, Minister of Planning and Economic Development Hala El-Said (...)
Anghami Inc, the leading music streaming platform and service in the Middle East and North Africa, and Vistas Media Acquisition Company Inc. (NASDAQ: VMAC), a publicly traded special purpose acquisition company, announced on Wednesday that they have (...)
Egypt's fuel subsidies dropped by 45 percent during the first half (1H) of the current FY2020/2021 to post EGP 8.4 billion (about $538 million), down from EGP 15.2 billion in 1H of FY2019/2020, Minister of Petroleum and Mineral Resources Tarek (...)
Egypt's Ministry of International Cooperation and the African Development Bank (AfDB) inked on Thursday a development financing deal worth €109 million that aims to provide sanitation services in residential communities in Luxor's rural areas.
The (...)
Cumulative per capita income is expected to decrease by 18 percent for low-income countries and by 22 percent for emerging and developing countries excluding China, according to the Managing Director of the International Monetary (IMF) Fund (...)
Egypt's Ministry of Finance launched on Monday the second stage of the e-invoice system that will be applied on 347 companies. Other companies will join the system in succession through the end of June.
Minister of Finance Mohamed Maait said the (...)
The European Bank for Reconstruction and Development (EBRD) has announced that it provided Egypt with a €1 million contribution for the construction of a dry port and logistics centre in 10th of Ramadan City.
The sum will be used in the preparation (...)
Since 2004, when Egypt struck an Association Agreement with the EU, bilateral trade in goods has tripled. The EU is Egypt's most important export market, absorbing around 30 per cent of Egyptian exports, and is the number one investor in Egypt. (...)
Egypt's government has launched the second phase of initiative supporting export companies, announcing that the registration will open as of 7 February through until the end of the month.
Minister of Finance, Mohamed Maait said on Sunday that the (...)
A consortium led by the multinational Bombardier Transportation company has confirmed a deal with the Egyptian government to build two new monorails with a total finance worth £1.7 billion provided by UK Export Finance (UKEF), the largest amount of (...)
Egypt's issuance of securities saw a drop of 14.5 percent in 2020, reaching EGP 187.2 billion, down from EGP 219.1 billion in 2019, due to the COVID-19 crisis and its related impacts on the financial markets, the Financial Regulatory Authority (FRA) (...)
Egypt's budget deficit to GDP ratio declined to 3.6 percent in the first half of the current FY2020/2021 (July-December 2020), down from 4.1 percent in the same period of FY2019/2020, achieving a budget initial surplus of EGP 14 billion, according (...)
Egypt's net international reserves (NIRs) rose to $40.06 billion by the end of December 2020, up from $39.2 billion recorded in October and November, the Central Bank of Egypt announced on Tuesday.
This is the first time the NIRs have increased (...)
The Central Bank of Egypt (CBE) has launched an initiative through which EGP 15 billion will be allocated for use as loans extended to individuals looking to convert their vehicles from running on fossil fuel to natural gas.
According to a letter (...)
The European Bank for Reconstruction and Development (EBRD) has provided Egypt with $12 million in order to support the tourism sector.
The sum is a loan extended to Al-Dau Al-Haram for Hotel Operations for the regeneration of a brownfield site into (...)
Egypt's Health Insurance Authority enjoys a strong and solid financial position, as its financial performance indices mirror its ability to expand in applying the country's comprehensive health insurance system in more governorates gradually, (...)
The European Bank for Reconstruction and Development (EBRD), with seven other multilateral development banks (MDBs), have announced on Monday a joint commitment to improving road safety, as road accidents claim almost 1.25 million lives per year and (...)
Misr Cement Co. (Qena), listed on the Egyptian Stock Exchange EGX as MCQE, witnessed an increase in its net profits in the third quarter of 2020 to reach EGP 39.20 million, up from EGP 29.70 million in the same quarter of 2019; with an increase of (...)
The Egypt-UK trade agreement will come into effect on 31 December to be the framework organising bilateral trade ties after Brexit.
The deal is based on the EU-Egypt Association Agreement, UK Trade Envoy to Egypt Sir Jeffery Donaldson said.
The UK (...)
Egypt's parliament has approved a draft law on financial benefits that President Abdel-Fattah El-Sisi instructed the government to provide for school teachers and their assistants in 2017, and amid the ongoing Covid-19 crisis, Minister of Finance (...)
Egypt's real GDP growth is projected to record 3.5 percent by end of 2020, up from 3.4 percent expected in the September, according to Fitch Solutions, a provider of credit and macro intelligence.
Fitch Solutions, which shared with Ahram Online its (...)
Global oil prices are expected to stand at $41 bpd until the end of 2020 and to jump to $46 bpd over 2021, said Economist and Director of the Research Department at the International Monetary Fund (IMF) Gita Gopinat.
Gopinat made the comments in (...)
Egypt's annual headline inflation decreased for the third consecutive month, recording 3.3 percent, down from 3.6 percent in August, the Central Agency for Public Mobilisation and Statistics (CAPMAS) reported on Saturday.
The decline was driven (...)
Egypt will launch the sixth round of the Regional Forum for Medical Insurance and Healthcare on Sunday. The two-day event will tackle Egypt's healthcare challenges amid the coronavirus crisis.
The forum is organised by the Insurance Federation of (...)
The European Bank for Reconstruction and Development's (EBRD) new strategy for 2021-2025 will focus on accelerating the pace of recovery from the COVID-19 pandemic and strengthening the private sector by increasing its share in the bank's (...)
