Al-Sisi orders timely payment of dues to oil, gas contractors to boost economic growth
Egyptian President Abdel Fattah Al-Sisi has directed the government to ensure the regular payment of financial dues to companies contracting with the state in the oil and gas sector. The directive aims to support efficient operations and strengthen the sector’s
Egypt focuses on water cooperation with African nations
Egypt’s Minister of Water Resources and Irrigation, Hani Sweilem, has convened a meeting on Saturday to assess the progress of the Nile Water Affairs Sector, with a particular focus on bilateral cooperation with international water organisations. Discussions also encompassed ongoing
ADIB opens 72nd branch at Mall of Egypt
Abu Dhabi Islamic Bank – Egypt (ADIB) has opened its 72nd branch inside Mall of Egypt, further expanding its network across Egypt. This new branch is part of the bank’s comprehensive strategy for growth and development, aimed at offering integrated
Over 1k industrial investment opportunities across 14 governorates in 2024: Minister
Hassan El-Khatib, Minister of Investment and Foreign Trade, has highlighted the ministry’s achievements in 2024, alongside its affiliated entities and sectors aimed at boosting both local and foreign investments, as well as enhancing Egypt’s exports to global markets. El-Khatib emphasized
New e-system launched to strengthen governance, localize mobile industry in Egypt
The Ministries of Finance and Communications and Information Technology have introduced a new electronic system aimed at enhancing governance, promoting the localization of the mobile industry in Egypt, and ensuring fair competition in the telecommunications market. This initiative is designed
Egypt’s engineering industry exports exceed $5bn for first time in 2024
The Engineering Export Council of Egypt (EECE) has announced a historic milestone, reporting a 21.6% increase in engineering industry exports during the first 11 months of 2024. Exports reached an impressive $5.1bn, surpassing the $4.2bn mark achieved during the same
Government plans to borrow EGP 1.983trn from local market in Q1 2025
The Egyptian government is set to borrow EGP 1.983trn from the local market during the first quarter of 2025 to meet previous debt obligations and finance the state’s budget deficit. According to a plan released by the Ministry of Finance,
Egypt, USTDA to collaborate on methane emission reduction roadmap
Egypt’s Prime Minister, Mostafa Madbouly, has approved a draft presidential decree for an agreement between the Egyptian General Petroleum Corporation (EGPC) and the US Trade and Development Agency (USTDA) to prepare a “Roadmap for Methane Emission Reduction in Egypt.” This
Local Development Ministry to increase funding through ‘Mashrou’ak’ to EGP 4bn in 2025
The Ministry of Local Development plans to increase funding for the National Project for Human and Community Development, “Mashrou’ak” (Your Project), to EGP 4bn in 2025. The programme aims to finance 3,000 projects and generate 70,000 jobs. In addition, Mashrou’ak
Egypt receives first €1bn EU funding instalment
Egypt has received the first instalment of a €1bn funding package from the European Union, with the funds being deposited into the Central Bank of Egypt (CBE) on Friday, Prime Minister Mostafa Madbouly announced. The European Commission had previously announced