Day: March 28, 2026

The Central Bank of Egypt (CBE) said banks operating in the Egyptian market recorded net profits of EGP 601.612bn in December 2025, up from EGP 433.772bn in September. According to the CBE, net interest income reached EGP 1.05trn, while total operating income stood at approximately EGP 1.418trn. Total expenses amounted…

Egypt’s Foreign Minister Badr Abdelatty reaffirmed Cairo’s full solidarity with Qatar and other Gulf states during talks with Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani in Doha on Saturday, the Egyptian Foreign Ministry said. The meeting occurred during Abdelatty’s stopover in Doha en route to…

Egypt’s Ministry of Local Development and Environment said on Saturday that the board of the Waste Management Regulatory Authority approved its draft budget for the 2026/2027 fiscal year and reviewed proposals to strengthen oversight of waste management activities. The meeting, chaired by Minister of Local Development and Environment Manal Awad,…

Karim Badawi, Minister of Petroleum and Mineral Resources, inspected the Valaris DS-12 drilling rig, recently arrived in Egypt to launch a programme drilling five new natural gas wells in the Mediterranean Sea for BP and Arcius Energy, the joint investment venture between BP and Abu Dhabi’s ADNOC. Badawi said intensifying…

Prime Minister Mostafa Madbouly held a high-level meeting at Obour Wholesale Market on Saturday to review food supply conditions, market operations, and ongoing government efforts to stabilise prices. During the meeting, Madbouly stressed that developing and organising wholesale markets is central to regulating commodity flows, ensuring efficient supply chains, and…

The Common Market for Eastern and Southern Africa has unveiled its COMESA Investment Map, an interactive digital platform presenting 180 nationally endorsed investment opportunities across seven priority sectors: agriculture, food industries, infrastructure, energy, supply chains, the digital economy, and technological transformation. The initiative was announced at the COMESA Investment Forum…

Egypt has launched the second phase of the development of the Ataba area in Cairo, as part of a wider government strategy to modernise urban markets and upgrade infrastructure in key commercial districts. Minister of Local Development and Environment Manal Awad announced that the new phase is fully funded under…

Egypt has mandated nationwide shop closures from 9:00 pm and introduced partial remote work to mitigate the economic impact of the war in Iran and a doubling of its monthly energy bill. Prime Minister Mostafa Madbouly told a press conference on Saturday that the conflict, which began one month ago,…