Month: August 2026

Gold prices in Egypt continued their upward trend for the third consecutive week, supported by a strong rally in global gold prices and a rise in the US dollar against the Egyptian pound. According to a technical analysis by Gold Bullion, the price of 21-karat gold rose 5.8% last week,…

Salah Gomblat, Minister of State for Military Production, held a meeting with the chairpersons of the Ministry’s affiliated companies operating in ammunition production to review the implementation of supply contracts, developments in production and plans to upgrade manufacturing capabilities during the coming period. The Minister opened the meeting by reviewing…

The Egyptian Travel Agents Association (ETAA) has held talks with a senior delegation from the Uganda Tourism Board (UTB) to explore opportunities to expand tourism cooperation, develop joint tourism programmes and promote investment between Egypt and Uganda. Nader El-Beblawi, Chairperson of the ETAA, said the meeting focused on developing practical…

Mohamed Farid, Minister of Investment and Foreign Trade, said the Ministry is maintaining close coordination with the Ministry of Finance, the Customs Authority and other relevant agencies to expedite the release of goods. He noted that the average customs clearance time had fallen from around 16 days in June 2024…

Commercial International Bank – Egypt (CIB) announced that it received preliminary approval from the Central Bank of Egypt (CBE) to establish “yomo” as a digital bank, in line with Egypt’s digital banking framework introduced in 2023. The approval marks an important milestone in the development of Egypt’s banking sector, paving…

The Central Bank of Egypt (CBE) has instructed banks to incorporate financial literacy into their financial inclusion strategies, expand financial awareness among citizens, and provide advisory services to micro, small and medium-sized enterprises (MSMEs) and entrepreneurs based on the customer segments targeted by each bank. In a circular issued to…

The Central Bank of Egypt (CBE) expects inflation to begin declining gradually from the first quarter (Q1) of 2027 and approach its target of 7% (±2%) during the second half of the year. The CBE said the projected downward trajectory would be supported by maintaining an appropriately restrictive monetary stance…

Egypt’s Healthcare Authority has agreed to move forward with a programme to train 20 Egyptian doctors in Türkiye in robotic surgery, catheterisation and advanced cardiac interventions, as the two countries seek to strengthen cooperation in healthcare. Ahmed El-Sobky, chairperson of the Egypt Healthcare Authority and general supervisor of the Universal…

The National Bank of Egypt (NBE) and Banque Misr have arranged an EGP 8bn long-term syndicated financing facility for Palm for Investment and Real Estate Development, a subsidiary of Palm Hills Developments, to finance part of the investment cost of the Palm Hills New Cairo project. The financing will support…

The Egyptian economy is improving. EGX is changing. This is increasingly looking like a paradigm shift. Egypt’s net international reserves reached an all-time high of US$56.3bn in July 2026. Remittances reached US$43.1bn in Jul–May FY2025/26, +31.2% YoY, after calendar-year 2025 had already set an all-time record of US$41.5bn. Egypt welcomed…