Day: May 17, 2025

In a major boost for students in Egypt seeking international education, the US Embassy in Cairo has announced the reinstatement of SAT testing in the country beginning June 2025. The move follows successful negotiations between Egypt’s Ministry of Education and the College Board, the organization that administers the SAT, ending…

Arab investments in Egypt soared to $41.5bn during the fiscal year 2023/2024, a significant rise from $7.3bn the previous year, according to new data released by the Central Agency for Public Mobilisation and Statistics (CAPMAS). The United Arab Emirates was by far the largest investor, contributing $38.9bn, a figure largely…

Headline inflation stood at 13.9% y-o-y in April, broadly unchanged from March. This steady annual figure is largely base-effect driven, with sequential data showing monthly price growth exceeding 1% for a fourth consecutive month. Notably, April saw transport costs jump nearly 10% m-o-m following an increase in administered fuel prices—a…

Egypt’s engineering sector is aiming for a record-breaking $7bn in exports by the end of 2025, according to Sherif El-Sayyad, Chairperson of the Engineering Export Council of Egypt. In the first quarter of 2025 alone, engineering exports grew by 12%, reaching $1.489bn compared to $1.330bn during the same period in…

In a landmark achievement, Egypt—represented by the Financial Regulatory Authority (FRA)—has secured the bid to host the 51st Annual Conference of the International Organization of Securities Commissions (IOSCO) in 2026. This marks the first time in the country’s history that it will host this prestigious global event, underscoring international recognition…

Suez Canal Bank reported net profits of EGP 1.3bn for the first quarter (Q1) of 2025, more than double the EGP 600m recorded in the same period last year—an impressive year-on-year growth of 114.4%. CEO and Managing Director Akef El Maghraby attributed the performance to a 54% rise in net…

SAIB Bank posted robust financial results for the first quarter of 2025, with its local currency loan portfolio rising to EGP 51bn in March—an increase of 17%, or EGP 8bn, from EGP 43bn at the close of 2024. Local currency deposits also saw healthy growth, climbing 13% to EGP 83bn…