Asia's diesel production margins are under increasing pressure due to an oversupply as major exporters ramp up shipments and fewer cargoes are directed towards Europe due to Red Sea shipping concerns, Reuters reported on Monday.
The profit margin, (...)
The Suez Canal Bank has expanded its network with the inauguration of a new branch located at 6th of October University in Giza. The opening ceremony was led by Hussein Rifai, the bank's Chairperson and Managing Director, and was attended by key (...)
The US dollar weakened against the Egyptian pound on Tuesday, falling below 49 pounds in many banks, as reported by Amwal Al Ghad Arabic.
The National Bank of Egypt (NBE) quoted buying and selling rates at 48.88 and 48.98, respectively.
Other banks (...)
Finance Minister Mohamed Maait said that the state is using all its resources to achieve economic recovery, stability, and inflation control as soon as possible.
He reported that the state's general budget in the past eight months showed balanced (...)
Walid Gamal El-Din, the Chairperson of the Suez Canal Economic Zone (SCZONE), met with the Latvian ambassador Andris Razāns to discuss areas of mutual interest and cooperation between the two parties. This meeting is considered important in light of (...)
In a robust trading session this Sunday, the Commercial International Bank (CIB) led the EGX banking sector's gains, closing at 88.6 pounds, a 6.81 per cent increase, with transactions reaching 476 million pounds, according to the Federation of the (...)
Egypt's budget has significantly improved in the past eight months, showing an initial surplus of 193 billion Egyptian pounds, a 4.5-fold increase from the previous year, the cabinet reported on Sunday, citing Finance Minister Mohamed Maait.
The (...)
The EU's total portfolio of investments in Egypt stands at approximately €1.2 billion, covering various sectors such as education, water, energy, migration, rural development, and urban development, said EU Head of Delegation to Egypt, Ambassador (...)
The International Monetary Fund's executive board is expected to meet before the end of March to approve the staff-level agreement reached with the authorities in Egypt, said IMF Mission Chief for Egypt, Ivanna Vladkova Hollar on Wednesday.
The (...)
Egypt and the International Monetary Fund (IMF) have reached on Wednesday staff level agreement on a set of comprehensive policies and reforms needed to complete the first and second reviews under the Extended Fund Facility (EFF) arrangement.
"Amid (...)
The International Monetary Fund (IMF) announced Wednesday an expansion of its loan program with Egypt, increasing the total amount from $3bnto $8bn. This move comes alongside the Central Bank of Egypt's decision to allow the Egyptian pound to trade (...)
جامعة القناة، تنظم كلية العلاج الطبيعي بجامعة قناة السويس، أحدث كليات القطاع الطبي بالجامعة مؤتمرها السنوي الأول للبحوث الطلابية والإبداع، وذلك تحت رعاية الدكتور ناصر مندور رئيس جامعة قناة السويس.
غدا، جامعة القناة تستضيف ماراثون مسابقة صحتنا من (...)
Egypt's private sector activity declined in February, with the Suez Canal freight drop and foreign currency shortage exacerbating the downturn, Reuters reported on Tuesday, citing S&P survey.
The S&P Global Purchasing Managers' Index (PMI) for Egypt (...)
The Swiss Chamber of Commerce in Egypt (SwissCham) held a panel discussion with various industry leaders to explore the trade and investment relations between the European Union (EU) and Egypt. The panel aimed to provide valuable insights into the (...)
The International Health Tourism Conference kicked off on Saturday under the patronage of Prime Minister Mostafa Madbouly, with the slogan "The echo of the past is renewed today." The two-day conference is taking place in the New Administrative (...)
Hussein Refaie, the Chairperson and Managing Director of the Suez Canal Bank, announced that the bank achieved remarkable growth in 2023, with its net profits reaching EGP 2.3bn in the year, compared to EGP 1.04bn in 2022, marking a 121% (...)
Egypt's Minister of International Cooperation and Governor of Egypt at the European Bank for Reconstruction and Development (EBRD) Rania Al-Mashat met with representatives of the Bank's Board of Directors to review the outcomes of their six-day (...)
Egypt approved the Cairo-based formation of the International Council of Green Hydrogen, which will be located at Nile University, the Egyptian Cabinet stated on Thursday.
During a late Wednesday meeting of the National Green Hydrogen Council headed (...)
Minister of Trade and Industry Ahmed Samir held a series of intensive meetings with trade ministers from member countries of the World Trade Organization (WTO) in Abu Dhabi. The meetings were part of the Thirteenth Ministerial Conference of the WTO, (...)
Egypt signed 7 agreements with 7 international developers on Wednesday to implement projects in the fields of green hydrogen and renewable energy. The agreements are expected to bring in investments of over $40bn over the next 10 years.
The (...)
Maersk, the Danish shipping company, has warned its clients to expect disruptions in the Red Sea to continue into the second half of the year, Reuters reported on Tuesday.
This is due to the decision of major container shipping companies to reroute (...)
Minister of Trade and Industry Ahmed Samir called on the business community in Arab and Turkish countries to use their strong political ties to boost economic cooperation in various sectors, such as joint manufacturing, integration of inputs, (...)
Ahmed El-Wakil and Rafat Hissar, the presidents of the Egyptian and African Chamber of Commerce and the Turkish Chamber of Commerce, respectively, have proposed a project to study the feasibility and benefits of Arab-Turkish-European integration. (...)
In a move to solidify its position as a key maritime trade hub, Egypt is hosting its first-ever international conference on settling commercial and maritime disputes through arbitration. The event, scheduled for February 26th, brings together (...)
Badr Abdel Aty, Egyptian Ambassador to Brussels, received a high-level Egyptian economic delegation of senior public and private sector officials. The delegation aimed to promote investment in Egypt, review the economic reform process in the (...)