Month: October 2023

The Central Bank of Egypt issued new instructions to facilitate the use of credit cards abroad, with the aim of overcoming any difficulties citizens face when using their credit cards to cover expenses while traveling outside the country. The CBE confirmed that – within a period of 90 days from opening the…

The House of Representatives passed amendments to the value-added tax on cigarettes Sunday, resulting in an increase of at least 12% in the official prices of cigarettes. The amendments expanded the price ranges of taxed cigarettes by raising the maximum and minimum limits of each segment by 12% annually for…

The Ministry of Immigration announced on Monday that the tax-free car import initiative for Egyptian expats has been extended for another 3 months, following the approval of President Abdel Fattah Al-Sisi of Law No. 174 of 2023. The law aims to facilitate certain procedures for Egyptians residing abroad and was…

The Central Bank of Egypt (CBE) reported that the total volume of foreign trade between Egypt and other countries from July 2022 to March 2023 was about $85.662bn, consisting of $54.606bn in imports and $31.056bn in exports. According to the CBE’s monthly report released on Thursday, Egypt’s main trading partners…

The COP28 Presidency, the International Renewable Energy Agency (IRENA), and the Global Renewables Alliance (GRA) launched a joint report on Monday, titled “Tripling Renewable Power and Doubling Energy Efficiency by 2030: Crucial Steps Towards 1.5 °C.” The report was launched on the sidelines of Pre-COP, a meeting held in Abu…

The Director-General for the Environment of the European Commission, Florika Fink-Hooijer, is visiting Cairo from 29 to 31 October 2023 to strengthen European Union–Egypt cooperation on environmental issues.  During her visit, the Director-General addressed the Opening of Cairo Water Week in its 6th edition, highlighting the importance of sustainable water…

A new report from the World Bank examines the potential impact of the ongoing conflict in the Middle East on commodity prices, especially oil. It finds that the effects have been limited so far, but warns that a wider escalation could have serious consequences for the global economy and food…

Hani Sweilam, Egypt’s Minister of Water Resources and Irrigation, Monday met with Marie Mathieu, the Advisor to the United Nations Development Program (UNDP). They discussed the cooperation between the ministry and the UNDP, especially in the field of climate change adaptation, on the sidelines of the 6th edition of the…

Egyptian President Abdel Fattah Al-Sisi met with Prime Minister Mostafa Madbouly, Interior Minister Mahmoud Tawfik, Agriculture and Land Reclamation Minister Elsayed El-Kosair, and Local Development Minister General Hisham Amna, as well as other officials, to discuss the latest efforts to preserve and protect agricultural land. During the Monday meeting, the…

The Arab African International Bank has offered its customers a savings certificate with the highest investment return in the banking market. The bank allows saving on this certificate for a period of three years. It offers the new certificate with many advantages, such as: The minimum amount for issuing a…