Day: July 8, 2025

Egyptian authorities on Tuesday raced to contain the fallout from a fatal fire at a key Cairo telecommunications hub, suspending the stock market, doubling cash withdrawal limits, and working to reroute disrupted internet and phone services. The response came after a blaze late on Monday at the Ramses Central building…

Minister of Electricity and Renewable Energy Mahmoud Esmat held talks with Minister of Public Enterprises Sector Mohamed El-Shimy to enhance cooperation on integrating renewable energy and implementing energy efficiency standards across Egypt’s power-intensive industries. The meeting comes within the framework of Egypt’s updated national energy strategy and the Ministry of…

The Central Bank of Egypt (CBE) has announced a temporary increase in the daily cash withdrawal limit for individuals and companies at bank branches, raising the cap in local currency to EGP 500,000—up from the previous limit of EGP 250,000. This exceptional measure comes in response to ongoing disruptions in…

Egypt’s Agriculture Minister and a Namibian parliamentary delegation have discussed strengthening agricultural cooperation, with both sides agreeing to form technical committees to draft a memorandum of understanding, the ministry said in a statement. The meeting between Minister of Agriculture and Land Reclamation, Alaa Farouk, and the Namibian delegation, led by…

Egypt’s trade deficit narrowed by 9.5% in April 2025 to $3.42bn, compared with $3.78bn in the same month a year earlier, as the value of exports surged, the state statistics agency CAPMAS said on Tuesday. The value of exports increased by 19.8% to reach $4.10bn in April, up from $3.43bn…

Gold prices edged lower during Tuesday’s trading session, weighed down by a stronger US dollar and waning expectations of an imminent interest rate cut by the Federal Reserve. The decline also reflects growing investor unease over escalating global trade tensions, particularly in light of recent comments by US President Donald…

Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, affirmed that transforming the Egyptian Mineral Resources Authority (EMRA) into an economic authority will provide it with the necessary tools and capabilities for sectoral development. The transformation, he said, will also facilitate key geological and seismic studies to attract investment by…

Catalyst Partners Middle East (CPME), Egypt’s first licensed Special Purpose Acquisition Company (SPAC), said its shareholders have approved the acquisition of two financial services firms in a share-swap deal valued at EGP 2.8bn. The company’s Extraordinary General Assembly approved the acquisition of Qardy for Digital Applications, which specialises in digital…

Egyptian President Abdel Fattah Al-Sisi met with the head of Russia’s state atomic energy corporation Rosatom on Tuesday in the city of New Alamein to discuss developments on the Dabaa Nuclear Power Plant project, the presidency said. The meeting with Rosatom Director General Alexey Likhachev came as the two countries…