Day: July 7, 2025

The Egyptian government plans to issue EGP 2.36trn in local debt instruments during the first quarter of fiscal year 2025/2026 to cover maturing obligations and finance the state budget deficit. According to figures released by the Ministry of Finance, the plan includes 56 treasury bill (T-bill) auctions worth EGP 2.05trn…

The Central Bank of Egypt (CBE) announced that the country’s net international reserves increased to $48.7bn in June 2025, up from $48.526bn in May—an uptick of approximately $174m. In a statement issued Monday, the CBE indicated that the foreign currency component of the reserves reached $35.076bn in June, compared to…

The Central Bank of Egypt (CBE) has issued a directive requiring banks to support their exporting clients in meeting global environmental and sustainability standards during the production of goods intended for export. These standards include compliance with the Carbon Border Adjustment Mechanism (CBAM), a key policy adopted by the European…

Minister of Public Enterprises Sector Mohamed Shimi met with Norway’s Ambassador to Egypt and Libya, Hilde Klemetsdal, and her accompanying delegation at the ministry’s headquarters in the New Administrative Capital, as part of efforts to strengthen bilateral cooperation in renewable energy. During the meeting, the minister and ambassador witnessed the…

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, held on Monday an extensive meeting with automotive manufacturers operating in Egypt to review recent amendments to the National Automotive Industry Development Programme (AIDP). Attending the meeting were the Minister of Investment and Foreign Trade, senior…

The New Development Bank (NDB) has approved Colombia and Uzbekistan as new members, its president Dilma Rousseff said, as the lender focuses on expanding its membership and increasing financing in local currencies for sustainable development in the Global South. Speaking at the conclusion of the BRICS-led bank’s Annual Meeting in…

As part of its commitment to social responsibility and support for environmental initiatives, RATP Dev Mobility Cairo, the company responsible for operating and managing Cairo Metro Green Line 3 and the Light Rail Transit (LRT), has launched the “Plant & Ask” initiative in collaboration with the Shagrha initiative at Adly…

Egypt called on BRICS nations to strengthen cooperation between their central banks and push forward with enabling financial settlements in local currencies, its prime minister said at a summit session in Rio de Janeiro. Speaking on behalf of President Abdel Fattah Al-Sisi, Prime Minister Mostafa Madbouly said the world was…