Day: April 22, 2026

Finance Minister Ahmed Kouchouk said EGP 80bn has been allocated in the fiscal year (FY) 2026/2027 budget to programmes aimed at supporting and stimulating production, manufacturing, entrepreneurship, and exports of goods and services. The allocation includes EGP 48bn for export rebate schemes, EGP 6.7bn to support the tourism sector, and…

Minister of Planning and Economic Development Ahmed Rostom told parliament’s plenary session that Egypt’s economy is projected to grow by 5.4% by the end of the fiscal year (FY) 2026/2027, rising to 6.8% by the end of the medium-term plan in 2029/2030. Rostom said the government has adopted a cautious…

Huawei and AIS have signed a Memorandum of Understanding (MOU) to jointly develop local manufacturing of Grid-Forming Battery Energy Storage Systems (BESS) in Egypt. This strategic alliance represents a pivotal step toward strengthening Egypt’s renewable energy infrastructure, supporting national goals for industrial localization, and accelerating the deployment of advanced energy…

Pharco Pharmaceuticals has inaugurated a new specialized production line for ophthalmic (eye) drops at its Amreya City facility in Alexandria, with total investments exceeding EGP 500m. Nearly EGP 300m was allocated to the new line, which reflects Egypt’s growing pharmaceutical capabilities and supports national efforts to localize drug manufacturing, reduce…

Egypt has confirmed it remains malaria-free for a second consecutive year, the Ministry of Health announced on World Malaria Day, underscoring continued surveillance and prevention efforts. In a statement, the ministry said Egypt is the 10th country globally to receive official malaria-free certification, in line with the World Health Organization…

Egypt marked Earth Day 2026 on Wednesday under the theme “Our Power, Our Planet,” as part of ongoing efforts to raise environmental awareness and accelerate the transition to clean energy, the Ministry of Local Development and Environment said. In a statement, Minister Manal Awad said the occasion reflects growing global awareness…

Egypt’s Minister of Civil Aviation, Sameh El-Hefny, outlined a comprehensive strategy to modernise the aviation sector and enhance its global competitiveness during a meeting with the tourism and aviation committee of the House of Representatives. Discussions covered a range of key issues, including rising airfares, infrastructure upgrades, fleet expansion, sustainability…

The Ministry of Investment and Foreign Trade has launched a promotional and awareness campaign highlighting investment zones, one of the advanced investment frameworks established under Investment Law No. 72 of 2017. The campaign aims to familiarise the business community with the advantages of these zones, how to benefit from them,…

Alshaya Group has officially inaugurated its first offshoring Global Talent Centre in Egypt, under the patronage of Ahmed El Zaher, CEO of the Information Technology Industry Development Agency (ITIDA), and in the presence of John Hadden, CEO of Alshaya Group. The launch coincided with the celebration of Alshaya Egypt’s 20th…

The National Bank of Egypt (NBE) announced a new adjustment to interest rates on its three-year Platinum Certificate – one of the most prominent savings instruments in Egypt. This move reflects the banking sector’s efforts to keep pace with economic changes. The new rate adjustment offers customers a better opportunity…