Day: April 15, 2025

Majid Al Futtaim, a leading developer and operator of shopping malls, communities, and retail across the Middle East, Africa, and Asia, has officially launched Junction, its new business hub in Egypt. Strategically located adjacent to the Mall of Egypt in West Cairo, Junction spans over 129,000 square meters across two…

Raya Holding for Financial Investments, an Egyptian investment company operating across diverse high-potential sectors, announced its consolidated and standalone financial results for the fiscal year ended on 31 December 2024.   Raya Holding reported a 44.2% year-on-year increase in consolidated revenues, reaching EGP 45.1bn for FY 2024. This was supported…

Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, met in Cairo with Jamal Issa Al-Loughani, Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC), to discuss advancing Arab cooperation in the oil, gas, and energy sectors. Also present was Sameer Raslan, Undersecretary for Agreements and Exploration and…

Egypt outlined a EGP 327bn public investment plan focused on health, education, scientific research, and other services for the fiscal year 2025/2026, the planning minister told parliament on Tuesday. Minister of Planning and Economic Development and International Cooperation, Rania Al-Mashat, presented the sectoral targets of the development plan during a…

Deputy Prime Minister and Minister of Industry and Transport Kamel Al-Wazir chaired the 21st meeting of the Ministerial Group for Industrial Development, with participation from the Ministries of Military Production, Electricity, Environment, Local Development, and Housing. Also in attendance were representatives from the Arab Organization for Industrialization, the Federation of…

Prime Minister Mostafa Madbouly, accompanied by Minister of Electricity and Renewable Energy Mahmoud Esmat, conducted an inspection visit to the Amunet Wind Farm in Ras Ghareb to review the project’s progress and follow up on the latest developments. The visit comes within the framework of Egypt’s strategy to expand the…

The Central Bank of Egypt (CBE) announced that Egypt repaid $7.952bn in external debt service—covering both interest and principal repayments—during the first quarter (Q1) of fiscal year (FY) 2024/2025. According to the CBE’s report released on Tuesday, the payments included $2.344bn in interest and $5.608bn in principal installments. The report…

Finance Minister Ahmed Kouchouk announced that public revenues in Egypt’s draft budget for fiscal year 2025/2026 are expected to grow by 23% to reach EGP 3.1trn, while total public spending is projected to increase by 19.2% to EGP 4.6trn. Kouchouk described the upcoming budget as one of growth, stability, and…

Egypt and Qatar on Monday issued a joint statement affirming their commitment to strengthening their economic partnership and continuing efforts to reach a new ceasefire deal in the Gaza Strip. The statement was issued following talks held between Egyptian President Abdel Fattah al-Sisi and Qatari Emir Sheikh Tamim Bin Hamad…