Day: August 17, 2026

Egypt plans to establish a new investment entity to coordinate its investments in Africa and is urging the Arab Bank for Economic Development in Africa (BADEA) to expand its backing for continental infrastructure and trade initiatives, Foreign Minister Badr Abdelatty said on Sunday. Abdelatty, who serves as Minister of Foreign…

Egyptian Minister of Industry Khaled Hashem participated in laying the foundation stone for the Sungrow Power Suez plant, which will specialize in advanced battery energy storage systems (BESS) and is set to become the first dedicated energy storage systems manufacturing facility in the Middle East and Africa. The plant is…

Egypt’s Electricity and Renewable Energy Minister Mahmoud Esmat has received UAE Ambassador to Cairo Hamad Al Zaabi to discuss ways to strengthen bilateral cooperation and support investment in the electricity and renewable energy sectors. During the meeting, Esmat praised the longstanding ties between Egypt and the UAE and the close…

The Financial Regulatory Authority (FRA), chaired by Islam Azzam, has approved two companies to conduct various non-banking financial activities using fintech, following reviews by the committee responsible for examining applications to use fintech in non-banking financial services. The approvals come as part of the FRA’s ongoing efforts to enhance the…

The board of directors of the National Investment Bank (NIB), chaired by Ahmed Rostom, has appointed Dalia Mostafa as vice-chairperson and managing director of the bank, as part of efforts to strengthen its leadership with experienced banking professionals with a long track record in managing strategic and financial portfolios. Mostafa…

The National Investment Bank (NIB) announced a significant financial turnaround, recording a net profit of EGP 6bn in the 2024/25 financial year, compared with losses of EGP 31.7bn in the previous year, marking a strong recovery in the bank’s financial position. Planning and Economic Development Minister Ahmed Rostom, who also…

Egypt is advancing plans to modernise the state-owned Holding Company for Cotton, Spinning, Weaving, and Clothing, seeking to boost private sector involvement in its operations and management to restore the global standing of Egyptian cotton, Prime Minister Mostafa Madbouly said on Monday. During a meeting at the government headquarters in…

Egypt’s Ministry of Water Resources and Irrigation is expanding a digital spatial monitoring system designed to detect encroachments and violations affecting waterways, water infrastructure and ministry-administered land at an early stage, as part of efforts to strengthen digital oversight and governance. Water Resources and Irrigation Minister Hani Sewilam said the…

The West Port Said port received the Palau-flagged cruise ship Astoria Grande on its maiden visit on Monday, carrying 414 passengers and 409 crew members on a voyage from Turkey, the Suez Canal Economic Zone (SCZone) said in a statement. The vessel, arriving from the Turkish port of Kusadasi as…

Egypt-China trade reached approximately $20.8bn in 2025, with Chinese exports to Egypt accounting for nearly $19.9bn, compared with just $819m in Egyptian exports to China, Head of the Egyptian Commercial Service Abdel Aziz Elsherif said. The figures highlight both the scale of the economic partnership between the two countries and…