The US-China trade war, climate change, and the global pandemic have started a disruption in supply chains that spread like wildfire around the world.
Major industries including automotive, electronics, pharmaceuticals, medical equipment and (...)
First Abu Dhabi Bank (FAB) has begun the share transfer process in its acquisition of 100 percent of Bank Audi's Egypt, FAB announced yesterday
Once the share transfer is complete, FAB will begin merging the assets and operations of both Bank Audi (...)
Egypt and Pakistan discussed the possibility of signing a memorandum of understanding (MoU) between the Suez Canal Authority (SCA) and Gwadar Port Authority, according to statement by the Pakistani maritime affairs ministry
According to the (...)
Egypt's balance of payments (BOP) recorded an overall surplus of $1.5bn in H2 of 2020, compared to a deficit of $9bn in the previous half a recent data from the Central Bank of Egypt showed.
This also compared to the surplus of $410.9m in the (...)
The current account deficit rose by 66.9 percent to record $ 7.6 billion during the First Half of FY 2020/20212021 against $ 4.6 billion in the corresponding period, according to data released by central bank figures (pdf) released last night.
The (...)
Egypt announced on Monday that the Panamanian container ship has been successfully re-floated, according to Admiral Osama Rabie, Chairman and Managing Director of the Suez Canal Authority.
This was the result of successful push and tow maneuvers (...)
Nawal El Saadawi who was often perceived as the most radical feminist in modern day Egypt has passed away at 90.
She has for a long time been considered as a women's rights activist.
Although the Egyptian figure's background was as a physician and a (...)
Banque du Caire received US$ 100 million financing package from The European Bank for Reconstruction and Development (EBRD) for trade financing and on-lending to local micro-, small and medium-sized companies (MSMEs).
EBRD is supporting the Egyptian (...)
Egypt's plans to replace obsolete cars manufactured 20 years or more with locally-manufactured ones operating on natural gas will start before the end of March according to the Minister of Finance, Mohamed Maait.
The green car incentive will cost (...)
Forbes Middle East has released its first annual "Top CEOs in the Middle East" ranking; the list has included EFG Hermes Group's CEO and chairman Karim Awad.
According to Forbes, Awad has led his company to achieve group operating revenue worth (...)
Forbes Middle East has released its first annual "Top CEOs in the Middle East" ranking; the list has included Hisham Okasha, chairman of Egypt's largest state lender, National Bank of Egypt (NBE).
Okasha was ranked 16 in the top 100 CEOs in the (...)
Non-oil private sector activity in Egypt continued to contract in January, albeit at a slower pace as falls in output and orders tempered, according to IHS Markit purchasing managers' index (PMI) figures.
The PMI index edged up a little from 48.2 in (...)
HC Securities & Investment expected the CBE to keep the current interest rates based on its projections for January's annual headline inflation rate of 5.2 percent, which is near the lower end of the CBE's new target range of 7 percent (+/-2 (...)
Banque Misr has signed on Tuesday a loan agreement worth €425 million ($515.2 million) with the European Investment Bank (EIB).
The funding is the first tranche of a €750 million loan to be on-lent to small- and medium-sized enterprises (SMEs), the (...)
Egypt has allocated 236 million Egyptian pounds to support the National Organization for Potable Water and Sanitary Drainage's (NOPWASD) plan to provide electricity to the Bahr El-Baqar wastewater treatment plant, according to the Minister of (...)
The Egyptian Micro, Small and Medium Enterprise Development Agency (MSMEDA) financed 539 micro- and small-sized enterprises with a total value of 36.88 million Egyptian pounds in November, the Governor of Qena, Ashraf El-Dawdy said
A total of 92 (...)
As per the energy-focused COVID-19 recovery plan conducted by the International Energy Agency (IEA), actions and solutions were determined to aid our world to gravitate towards a more promising, prosperous, and sustainable future.
In order to (...)
Egypt reported 362 new coronavirus cases on Friday bringing the total infection tally to 112,318 since the outbreak began in February.
The health ministry also reported 13 new deaths, bringing the total number of deaths from the virus to 6,521.
The (...)
The Health Ministry reported 239 new covid-19 infections yesterday, the most daily cases reported since 31 July.
Egypt has now disclosed a total of 109,201 confirmed cases of covid-19. The ministry also reported 13 new deaths, bringing the country's (...)
Saudi Arabia's sovereign wealth fund is considering investing in Egyptian projects alongside the Sovereign Fund of Egypt, Saudi State Minister Issam bin Saad said.
He made these comments during talks with Prime Minister Moustafa Madbouly and SFE (...)
After Hisham Ezz Al Arab, the long-term chairman and managing director of the Commercial International Bank (CIB), announced his formal resignation in a Facebook post, who's now in charge at CIB?
CIB's Board of Directors unanimously voted to appoint (...)
90 percent of Egyptian imports and exports will be managed electronically by January 2021 in a bid to speed up customs clearance, increase trade flows, and improve Egypt's ranking in the Logistical Performance Index, Finance Minister Mohamed Maait (...)
Egypt's Senate will get down to business on Sunday by holding an opening procedural meeting after its election in August and September.
The meeting will be headed by Galal Haridi, founder of the Guardians of the Nation Party, in his capacity as the (...)
The affect of COVID-19 pandemic on the Egyptian government's finances may not be as hard as previously feared, according to the IMF's October 2020 Fiscal Monitor Report (pdf).
Though fiscal indicators have weakened slightly from the last outlook in (...)
Veteran Egyptian actor Mahmoud Yassin passes away on Wednesday at the age of 79 after long struggle with illness.
The renowned Egyptian actor was born in Port Said city in June 1941. He started his artistic career by joining the National Theatre in (...)
