Day: March 10, 2025

Egyptian President Abdel Fattah Al-Sisi met on Monday with Prime Minister Mostafa Madbouly and Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny to assess the progress of national housing projects. Presidential spokesperson Mohamed El-Shenawy stated that the meeting focused on housing initiatives for Egyptians abroad as part of ongoing…

KarmSolar, Egypt’s leading solar energy utility provider, is expanding the Farafra Solar Grid through a strategic partnership with Daltex, the world’s largest exporter of potatoes. Under this agreement, KarmSolar will supply 2 MVA of electricity to Daltex, along with 3.17 MVA to Al-Mazare’ for Food Manufacturing and Cooling and Al…

The Egyptian government is reviewing its plan to reform the customs system and curb smuggling in a bid to enhance trade competitiveness and improve the business environment. Prime Minister Mostafa Madbouly convened a meeting with key officials to assess the progress and future steps of the initiative. “The government is…

As part of Egypt’s commitment to strengthening ties and fostering collaboration with African nations, the Central Bank of Egypt (CBE) welcomed a delegation from the Central Bank of West African States (BCEAO) for an in-depth exchange on banknote printing operations. The visit provided the BCEAO delegation with valuable insights into…

Finance Minister Ahmed Kouchouk announced that the government plans to significantly expand funding for economic stimulus programmes and initiatives next year, allocating three times the current year’s budget. “There will be no tax exemptions,” Kouchouk stated, “but we are open to providing direct financial support for priority sectors, ensuring that…

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, chaired the 19th meeting of the ministerial group for industrial development, where key economic and industrial issues were discussed. The meeting reviewed the status of the Al-Harsh area in Al-Bayadiya village, Qantara West, currently under the…

The Central Bank of Egypt (CBE) reported on Monday that monthly core CPI inflation stood at 1.6% in February 2025, down from 13.2% in February 2024 and slightly lower than 1.7% in January 2025. On an annual basis, core CPI inflation dropped to 10% in February 2025, a significant decline…

Edita Food Industries S.A.E. has announced a milestone year, with revenues soaring 33.2% year-on-year (y-o-y) to reach EGP 16.1 billion in 2024. The company’s strategic diversification, successful pricing strategies, and regional expansion efforts have played a pivotal role in its impressive financial performance. Edita’s net profit climbed to EGP 1.4…