Day: October 13, 2025

A consortium of leading banks has concluded a long-term syndicated loan agreement worth EGP 7bn in favour of Sky Innovo Developments to finance part of the investment cost of the Park St. Edition project in New Cairo’s Golden Square. The total investment value of the project amounts to approximately EGP…

Egypt’s Minister of Water Resources and Irrigation, Hani Sewilam, and Jordan’s Minister of Water and Irrigation, Raed Abu Saud, inaugurated on Monday the 38th meeting of the Islamic Network on Water Resources Development and Management (INWRDAM), held on the sidelines of the 8th Cairo Water Week (CWW). During the session,…

Minister of Petroleum and Mineral Resources Karim Badawy witnessed the signing of a new drilling contract marking the launch of BP’s upcoming offshore gas exploration programme in Egypt. The agreement covers the drilling of five natural gas wells in BP’s Mediterranean concessions, at depths ranging between 300 and 1,500 metres.…

The Ministry of Finance announced that it will soon launch the second package of investment opportunities in the city of Assiut, offering prime sites designed to attract sustainable tourism and urban development projects. According to a statement issued on Monday, the new offering includes a distinguished location directly overlooking the…

Governor of the Central Bank of Egypt (CBE) Hassan Abdalla welcomed S&P Global Ratings’ decision to upgrade Egypt’s sovereign credit rating, describing it as a clear reflection of growing international confidence in the national economy. He attributed the move to the success of recent monetary and structural reforms implemented by…

Egypt’s retail market is poised for a significant upswing, with total sales projected to surpass $149.7bn in 2025 and climb to $201.4bn by 2030, according to Savills’ latest report, citing Oxford Economics data. The growth reflects the resilience of domestic consumption and the continued expansion of both international and local…

As part of the Memorandum of Understanding (MoU) signed between the Central Bank of Egypt (CBE) and the Ministry of Communications and Information Technology (MCIT) to strengthen youth skills under the “Digital Egypt Builders Initiative” (DEBI), the “AI for FinTech” Hackathon has been launched under the umbrella of FinTech Egypt,…

As part of its ongoing efforts to deepen industrial cooperation with Türkiye, the Egyptian Commercial Service (ECS) office in Istanbul has intensified its investment promotion activities targeting the ready-made garments and textile sectors, along with their supporting industries. The initiative aims to strengthen Egypt’s industrial ecosystem and localise key auxiliary…