Egyptian, Syrian Foreign Ministers discuss political transition in call
Egyptian Foreign Minister Badr Abdelatty and Syrian Foreign Minister Asaad Al-Shibani, appointed by Syria’s new rulers, spoke by telephone on Tuesday to discuss the ongoing situation in Syria. Ambassador Tamim Khallaf, the official spokesperson for the Egyptian Ministry of Foreign
Egypt’s GDP Growth Reaches 3.5% in Q1 FY2024/25
Egypt’s economy experienced a 3.5% growth in the first quarter (Q1) of the FY2024/25, according to the Ministry of Planning, Economic Development, and International Cooperation. This marks an increase from the 2.7% GDP growth recorded during the same quarter of
CBE extends fee exemption for digital transfers via IPN, InstaPay for 3 months
In line with Egypt’s Vision 2030 to foster digital transformation, the Central Bank of Egypt (CBE) has issued a new set of decrees extending the exemption of fees and commissions for bank transfers made via electronic channels, including internet banking
CBE increases transaction limits for financial inclusion accounts
The Central Bank of Egypt (CBE) has announced an increase in the maximum transaction limits for financial inclusion accounts, which apply to withdrawals, outgoing transfers, debit operations, and purchases. Under the new regulations, the daily transaction limit for individual accounts
Mansour Group, SAIC Motor announce $135m auto plant in Egypt
Prime Minister Mostafa Madbouly attended on Sunday the signing ceremony of a landmark agreement between Mansour Group and China’s SAIC Motor to establish a $135m automotive manufacturing plant in Egypt. The agreement includes a technical licensing deal to produce MG
CBE to offer $800m T-bill auction to settle previous issuance
The Central Bank of Egypt (CBE) will hold a Treasury bill (T-Bill) auction denominated in US dollars on Monday, offering $800m in new debt. The proceeds from this auction will be used to settle the maturity of a prior T-Bill
Egyptian Intelligence Chief Meets Libyan Armed Forces Commander in Benghazi
Hassan Rashad, head of the Egyptian General Intelligence Service (GIS), met with Field Marshal Khalifa Haftar, General Commander of the Libyan Armed Forces, at the General Command headquarters in Benghazi on Sunday. Rashad was accompanied by a high-level security delegation.
Egyptian gold demand declines in Q4 2024 amid price hikes
Local demand for gold in Egypt decreased in the fourth quarter of 2024, despite stabilising prices, due to rising inflation and higher price levels, according to the Gold Bullion 2024 report. Throughout 2024, gold prices in Egypt experienced significant fluctuations,
Jordanian Minister of Agriculture Visits Egyptian Arabian Horse Farm
Jordanian Minister of Agriculture Khaled Hneifat visited an Egyptian farm of original Arabian horses during a trip to Egypt. The visit was part of his participation in meetings of the Egypt-Jordan Agricultural Technical Committee. During the visit, Hneifat met with
STIO Life Science invests EGP 400m to localize Egypt’s pharmaceutical industry
Amr Abdel Razek, Chairperson of STIO Life Science (SLS), announced that the company has invested EGP 400m in the Egyptian market during 2023/2024. These funds have been directed toward development initiatives and securing the necessary business licenses. Abdel Razek highlighted