Egypt’s foreign exchange earnings surge to $159.6bn in 2023/2024
Egypt’s foreign exchange earnings reached $159.6bn in the 2023/2024 fiscal year, marking a 30.8% increase from the $121.9bn reported in 2022/2023, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS). This growth was largely driven by
Egypt postpones extraordinary Arab summit on Gaza to 4 March
The Egyptian Foreign Ministry announced on Tuesday that Cairo has postponed the extraordinary Arab summit on developments in the Palestinian issue to 4 March 2025, after it was initially scheduled for 27 February. The delay is intended to allow for
Egypt launches EGP 1bn ‘Alliance & Development’ initiative to drive regional innovation
Ayman Ashour, Minister of Higher Education and Scientific Research, has launched the competitive call for the presidential initiative ‘Alliance and Development’ to establish seven regional alliances aimed at stimulating innovation across the country, with funding reaching up to EGP 1bn.
Tax relief package scheduled for March: ETA chief
Rasha Abdel Aal, head of the Egyptian Tax Authority (ETA), has confirmed that the Minister of Finance is closely monitoring the implementation mechanisms of the new tax relief package, designed to meet the aspirations of taxpayers and businesses. She announced
Egypt’s Health Minister explores investment opportunities with San Donato delegation
Egypt’s Deputy Prime Minister and Minister of Health and Population, Khaled Abdel Ghaffar, met with Kamal El-Gheribi, Chairperson of GKSD Holding for Investment and Chairperson of the Italian San Donato Hospital Group, along with an accompanying delegation, to discuss potential
Energy firms urge Egypt to honor payments, boost cooperation on advanced technologies
Egypt’s Prime Minister Mostafa Madbouly chaired a high-level roundtable discussion on Tuesday titled “Egypt’s Energy Transition Future” at the Cabinet headquarters in the New Administrative Capital. The meeting brought together key ministers—including those of Environment, Electricity and Renewable Energy, Finance,
FRA explores AI integration in insurance, investment funds: Farid
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), has announced that a study is underway to facilitate the use of artificial intelligence (AI) algorithms in insurance and investment fund activities. These technologies will enable more efficient comparisons between investment
Egypt, Argentina strengthen investment ties
Yasser Abbas, Deputy CEO of Egypt’s General Authority for Investment and Free Zones (GAFI), met with an Argentine delegation led by Holger Federico Martinsen, Argentina’s Ambassador to Egypt, and Sergio Pardo, CEO of the Argentine Investment and International Trade Agency
Organi Group leads contracting consortium for $5bn projects in Egypt
Organi Group has launched a major contracting consortium in collaboration with its subsidiary, Abnaa Sinai for Construction and Building, alongside IGI Holding’s subsidiary, Income, and the China State Construction Engineering Corporation (CSCEC). The consortium aims to execute large-scale construction and
Chevron welcomes Egypt-Cyprus MoU as key step for Aphrodite gas project
The Memorandum of Understanding (MoU) signed on Monday between the governments of Egypt and Cyprus, alongside Chevron, marked a significant milestone in advancing key commercial agreements for the Aphrodite gas project, located offshore Cyprus. The agreement strengthens the project’s long-term