Day: October 24, 2026

The Ministry of Petroleum and Mineral Resources and global energy company Chevron have announced positive results from drilling the Nargis-2 natural gas well in the Mediterranean Sea. Drilling began in May through a partnership involving Chevron, its partners and the Egyptian Natural Gas Holding Company (EGAS). The results support ongoing…

Egypt aims to expand its cultivated area to 12.5 million feddans, increase annual domestic car production to more than 100,000 vehicles and raise local content in automotive manufacturing to 60%, Prime Minister Mostafa Madbouly said in a speech at Egypt Forum 2026. Madbouly outlined the government’s development achievements over the…

Egypt’s Water Resources and Irrigation Ministry is expanding its use of satellite imagery and remote sensing to detect encroachments, newly constructed structures and other changes along waterways as part of efforts to digitise water management. Water Resources and Irrigation Minister Hani Sewilam reviewed a model developed by the ministry using…

The European Union is discussing further a Sustainable Investment Facility Agreement (SIFA) with Egypt, EU Ambassador to Egypt Angelina Eichhorst said during the Union for the Mediterranean (UfM) Economic Forum in Cairo. Speaking at the forum, Eichhorst said Egypt was making progress in attracting EU investors and strengthening its trade…

MIDBANK has received approval from the Financial Regulatory Authority (FRA) to establish MIDBANK Digital Finance for Small and Medium Enterprises, reflecting the bank’s strategy to expand its digital financial services and develop financing solutions tailored to the needs of small and medium-sized enterprises (SMEs). The move comes amid rapid developments…

Commercial International Bank – Egypt (CIB) has been included in Fortune’s 2026 Change the World list under the Economic Empowerment category, becoming the only bank from Africa and the Middle East to feature on this year’s list. The recognition reflects the bank’s commitment to developing innovative financing solutions that expand…

The Egyptian pound has experienced noticeable fluctuations against the US dollar in recent days, reflecting a combination of domestic and global factors, particularly the following six: First: Revenues have improved, but financing needs have grown even faster The issue cannot be measured solely by the volume of incoming flows. It…

The Central Bank of Egypt (CBE) has confirmed that it and the Financial Regulatory Authority (FRA) continuously develop and update stress tests to ensure they reflect existing and emerging risks, strengthen their ability to assess financial institutions’ resilience to shocks, and identify the channels through which such shocks could spread…

The opening of the national products pavilion in Thailand will provide Russian manufacturers with comprehensive support in promoting their products on the Thai market,” Vladimir Kovalev, Executive Director of the Russian-Thai Business Council, said ahead of the II Russian–Thai Investment Forum. “Exporters will not only gain access to a modern…