Day: April 5, 2025

The Central Bank of Egypt (CBE) announced that net foreign assets within the Egyptian banking system rose by approximately $1.5bn during February 2025, reaching $10.17bn (equivalent to EGP 515.856bn), up from $8.7bn (EGP 437.261bn) in January. According to a recent CBE report, the total foreign assets of the banking sector—including…

Egypt’s Minister of Foreign Affairs, Badr Abdelatty, met on Saturday with his Seychellois counterpart, Sylvestre Radegonde, in Cairo to explore avenues for deepening bilateral cooperation—particularly in trade, tourism, and development. Abdelatty underscored the historical relationship between Egypt and Seychelles, reaffirming Cairo’s interest in expanding economic engagement, especially through increased Egyptian…

Cairo International Airport has set a new record for daily passenger traffic, welcoming 102,108 travelers in a single day—its highest since the airport’s opening on 18 May 1963. The day also saw 682 flight movements, comprising 343 departures and 339 arrivals. The milestone reflects the airport’s growing capacity to meet…

The Central Bank of Egypt (CBE) announced that the total financial position of banks operating in the local market—excluding the CBE—reached EGP 20.799trn in December 2024. In a recent report, the CBE detailed that, on the asset side, cash balances held by banks amounted to approximately EGP 182.122bn, while interbank…

The Ministry of Finance outlined several initiatives to stimulate economic activity, empower the private sector and support productive industries in Egypt. In addition, the Ministry of Finance increased spending on social protection programs during the first half of the 2024/2025 fiscal year, according to its semi-annual economic and financial performance…

The net foreign assets of the Egyptian banking system jumped by approximately US$1.5 billion during February, reaching $10.17 billion, compared to $8.7 billion at the end of January – an increase of more than 17 percent, according to data published by the Central Bank of Egypt (CBE)’s website. This change…