العربية

Day: August 30, 2025

Four global energy firms commit $343m to Egypt’s oil, gas exploration

Egypt has secured four new oil and gas exploration agreements worth a combined $343m with leading international energy companies, as part of the Petroleum Ministry’s strategy to intensify exploration and boost production. Petroleum and Mineral Resources Minister Karim Badawi attended the signing ceremony, which formalised partnerships between the Egyptian Natural…

CBE projects inflation to ease to 14–15% in 2025

The Central Bank of Egypt (CBE) expects headline inflation to decline to between 14% and 15% in 2025, after slowing to 15.2% in the second quarter compared with 16.5% in the first. The projection was announced following the latest meeting of the Monetary Policy Committee (MPC), which cut key interest…

After recent 2% rate cut, CBE signals shift in monetary policy

This year marks a significant shift in the Central Bank of Egypt’s (CBE) monetary policy, as it moves from a prolonged phase of tightening to a gradual easing cycle. Since April, the CBE has reduced interest rates by a cumulative 5.25% across three meetings—the first such sequence since November 2020.…

CBE net profit surges to EGP 77.5bn in June 2025

The Central Bank of Egypt (CBE) reported a sharp rise in profitability, recording a net profit of EGP 77.55bn in June 2025, compared with EGP 22.83bn a year earlier. The latest financial results highlight the central bank’s strengthened position, both in terms of earnings and balance sheet growth. The CBE’s…

Lebanese Prime Minister visits Egypt’s Grand Egyptian Museum

Lebanon’s Prime Minister Nawaf Salam on Saturday visited Egypt’s Grand Egyptian Museum in Cairo, accompanied by Culture Minister Ghassan Salamé, Energy and Water Minister Joseph Sadi, and an official delegation, the museum authority said in a statement.   Ahmed Ghoneim, CEO of the Grand Egyptian Museum Authority, received the delegation…

Train derailment in Matrouh kills three, injures 94

Egypt’s Health Ministry announced on Saturday that three people were killed and 94 others injured when several carriages of a passenger train derailed in Matrouh governorate. The ministry said the train, travelling from Alexandria to Matrouh, overturned, prompting the dispatch of 30 ambulances to the site. The injured were transferred…

We strive to ease burdens on citizens, investors: Finance Minister

Minister of Finance Ahmed Kouchouk affirmed that the government is working to ease burdens on citizens and investors through a comprehensive vision for growth and development. He noted that strong financial results were achieved in the last fiscal year thanks to enhanced cooperation with the private sector. Speaking at a…