Egypt’s October 2024 trade deficit drops by 16%
The Central Agency for Public Mobilization and Statistics (CAPMAS) has released its monthly Foreign Trade Data for October 2024, revealing a 16% decrease in the trade deficit compared to the same month last year. In October 2024, Egypt’s trade deficit
EU parliament chief visits Egypt for talks on financial assistance, Middle East geopolitics
Roberta Metsola, President of the European Parliament, is set to visit Egypt on 8-9 January for high-level discussions aimed at further strengthening relations between the European Union (EU) and Egypt. This visit comes amid ongoing talks on EU macro-financial assistance
Al-Sisi highlights strategic cooperation between Egypt, Cyprus, and Greece at tripartite summit
Egypt’s President Abdel Fattah Al-Sisi underscored the importance of the robust cooperation between Egypt, Cyprus, and Greece, emphasizing that their growing ties serve as a model for integrated regional collaboration. Speaking at the opening of the tripartite summit on Wednesday,
Egypt, trade hits $1.5bn with Greece, $217m in with Cyprus
The Central Agency for Public Mobilization and Statistics has reported that trade between Egypt and Greece reached $1.5bn during the first 11 months of 2024, a decrease from the $1.8bn recorded during the same period in 2023. This data was
Egypt’s Cabinet approves maritime transport, harbor cooperation agreement with Oman
The Egyptian Cabinet has approved a draft presidential decree regarding a cooperation agreement in the field of maritime transport and ports between the governments of the Arab Republic of Egypt and the Sultanate of Oman. The agreement, signed during President
Egypt signs agreement with Swiss MEDLOG for 10th of Ramadan Dry Port project
The Egyptian Ministry of Transport, through the Public Authority for Land and Dry Ports, has signed a contract with Swiss company MEDLOG for the financing, design, construction, operation, and maintenance of the 10th of Ramadan City Dry Port and Logistics
Egypt, EU discuss strengthening trade, investment ties
Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, recently met with the European Union’s Ambassador-designate to Egypt, Angelina Eichhorst, to explore opportunities for enhancing trade and investment cooperation between Egypt and the EU. The discussion focused on strategies to
Local liquidity in Egypt’s banking sector increases by EGP 2.46trn in 11M 2024
Egypt’s banking sector saw a significant increase in local liquidity, rising to EGP 11.34trn in November 2024, a boost of EGP 2.46trn from the EGP 8.88trn recorded in December 2023. The Central Bank of Egypt (CBE) reported that the money
Egypt calls for Lebanese-led solution to presidential vacuum
Egyptian Foreign Minister Badr Abdelatty emphasised on Tuesday the need for a Lebanese consensus to end the country’s presidential vacuum, “without external impositions.” Abdelatty’s statement came during a phone call with Jean-Yves Le Drian, the French President’s Special Envoy to
Egypt’s banking sector records $5.95bn net foreign asset surplus in November 2024
The Central Bank of Egypt (CBE) announced that the banking sector’s net foreign assets (NFA) reached a surplus of $5.95bn (EGP 295.6bn) in November 2024, down from a surplus of $9.2bn (EGP 450.861bn) in October 2024. This marks a continued