A US Department of Agriculture report has said that it expects Egypt's cotton harvest to increase by more than 30 per cent on an annual basis to reach 280,000 bales in the current year of July 2021 to June 2022.
The growth in the cotton harvest is (...)
The state-owned Administrative Capital for Urban Development (ACUD) Company may be listed on the stock exchange within two years, according to statements by President Abdel-Fattah Al-Sisi on Saturday.
"We are talking about raising some LE100 (...)
In a speech delivered last week during the inauguration of Silo Foods, a new food industrial complex in Menoufiya, President Abdel-Fattah Al-Sisi pointed to the anomaly of "20 loaves of subsidised bread costing the same as one cigarette". He said (...)
The interest of Egyptian companies and international firms headquartered in Egypt in the African market has been growing, with many of them now wanting either to venture into the African market or to increase the volume of their operations across (...)
Kicking off on Saturday at the American University in Cairo's Greek Campus in downtown Cairo, the Shaghalni (Employ Me) Forum will be connecting visiting job-seekers with companies and employers.
Shaghalni already has a website that helps (...)
Egypt has been focused on industrial specialisation for the past seven years, with the sectors involved including textiles, pharmaceuticals, and furniture.
Specialised units and industrial zones targeting the development of small and medium-sized (...)
"It is only a matter of time before prices skyrocket once more," said Hani Tawfik, head of Egypt's Direct Investment Association, in a comment this week.
"Globally, the prices of raw materials, commodities, minerals, fuel, and the cost of shipping (...)
Last week the UK added Egypt, and six other countries, to its red list. Travellers from red list countries to the UK are required to quarantine for 11 days at a hotel approved by the government and have two negative PCR tests before being allowed to (...)
With the interest rates on bank certificates and deposits heading south, scores of Egyptian investors have been scrambling to find the best alternatives for their savings.
In the few years following the devaluation of the pound in 2016, bank (...)
A new set of reforms was announced by the government last week, focusing on structural reform to the economy. The three-year programme comprises a set of policies meant to boost production and going beyond the 2016 International Monetary Fund (...)
A new mega land-reclamation project dubbed the New Delta received a boost this week during a meeting between President Abdel-Fattah Al-Sisi, Prime Minister Mustafa Madbouli, and Minister of Agriculture and Land reclamation Al-Sayed Qoseir.
The (...)
More than 400 vessels had either to change routes or lie in wait when the container ship Ever Given blocked the Suez Canal for six days last week. The Panamanian vessel, one of the world's largest, was finally freed on Monday afternoon following (...)
Private-sector workers in Egypt are standing by in anticipation of a decision by the National Council for Wages (NCW) to raise their minimum wage to LE2,400 a month on a par with government workers as per a recent presidential decree.
The NCW, (...)
The Central Bank of Egypt (CBE) launched a new real estate initiative targeting low- and middle-income individuals this week.
The presidential initiative, announced on Sunday, will enable such people to buy their own residential units thanks to (...)
Earlier this month, the Ministry of Trade and Industry raised the fees on exports of nitrogen fertilisers. An export fee had already been in place, as stipulated by ministerial decree 59/2021, but the Ministry of Trade and Industry has now amended (...)
The Central Bank of Egypt (CBE) decided on 7 February to amend the financing regulations for the real-estate sector. Loans may now be disbursed to the private sector to pay for land, provided that the land on which housing units are to be built is (...)
“The Covid-19 pandemic cast a long shadow on the real-estate sector in 2020, but its impact was not as dire as the repercussions of the global financial crisis of 2009 or the 2011 Revolution in Egypt,” said Mohamed Nabil, a real-estate analyst at (...)
Egyptian Minister of Trade and Industry Nevine Gamea met with her Sudanese counterparts to mull over increasing bilateral trade cooperation when she attended the Khartoum International Fair from 21 to 28 January in the Sudanese capital.
Egypt was (...)
In a move designed to protect the Egyptian banking sector's liquidity during the coronavirus pandemic, the Central Bank of Egypt (CBE) has decided to ban the country's banks from distributing cash dividends among shareholders.
The banks are not (...)
A number of investment banks expect the Egyptian pound will not depreciate against foreign currencies on the back of the slowed growth of Egypt's foreign currency earners like tourism, the Suez Canal, and exports owing to the Covid-19.
“The dollar (...)
Radical changes to state policies to increase access to commodities and services have taken place over the past decade to halt the waste of subsidies on social groups that do not need them. In the past, fuel subsidies, for example, were mainly used (...)
On 8 December, Handicap International announced the results of an economic inclusion project that aims to give persons with disabilities in the Warraq and Imbaba areas greater access to social services and employment and livelihood opportunities (...)
Egypt's poverty rate declined to 29.7 per cent in fiscal year 2019-20, down from 32.5 per cent two years earlier, according to poverty, consumption, and income research conducted by the Central Agency for Public Mobilisation and Statistics (...)
Google has decided to bypass the regional choke-point of Egypt and to build its new marine fibre-optic cable, dubbed Blue-Raman, through Saudi Arabia and Israel, the tech giant announced last week.
The $400 million cable will carry Internet traffic (...)
Seven international and four local companies out of the 17 that applied for licences have been awarded tenders to explore for gold in Egypt's Eastern Desert, Tarek Al-Molla, the minister of petroleum, recently announced.
The tender was the first (...)
