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Central Bank of Egypt cuts key interest rates

May 23, 2025

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE), at the conclusion of its meeting this Thursday, decided to reduce the overnight deposit and lending rates by one percentage point, setting them at 24 percentage and 25 percentage respectively. The Central Bank uses interest rates as a…

Current IMF Program will be Egypt’s last loan, Prime Minister declares

May 22, 2025

Prime Minister Mostafa Madbouly announced that Egypt will not require a new program from the International Monetary Fund (IMF) beyond its current arrangement, anticipating that the existing program will be the nation’s final loan from the global fund by 2026 or 2027. During the government’s weekly press conference, Madbouly said…

PM: Gov’t looking forward to self-sustained economic system

May 22, 2025

CAIRO, May 21 (MENA) – Prime Minister Mostafa Madbouly said the government is working on detailed plan for 2030 that goes beyond the IMF program, which concludes by the end of 2026, or early 2027 at most. “We are looking forward to a national program that does not depend on…

Sheraton Cairo Hotel & Casino Announces the Appointment of Waleed Abd El Nasser as Hotel Manager

May 22, 2025

Sheraton Cairo Hotel & Casino is delighted to announce the appointment of Mr. Waleed Abd El Nasser as the new Hotel Manager. Mr. Abd El Nasser brings nearly three decades of extensive management experience within the hospitality industry, most notably with Marriott International. A highly accomplished and goal-oriented leader, Mr.…

China’s inbound tourism continues heating up amid improving environment

May 22, 2025

China’s inbound tourism has maintained strong momentum, with a sharp rise in both international arrivals and visitor spending, buoyed by streamlined visa policies and an improved travel environment, according to officials. About 132 million inbound tourists visited China in 2024, with total spending reaching 94.2 billion U.S. dollars, recovering to…

“China Travel” trending amid visa, tax policy boost

May 22, 2025

China’s optimized visa and tax refund policies have given a boost to inbound tourism, fueling the trending of “China Travel” globally, officials said. Speaking on the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency, Liu Jia, an official with the National Immigration Administration,…

Saudi Group Developments unveils EGP 3bn Valea project in West Cairo

May 21, 2025

Saudi Group Developments has officially launched Valea, a new mixed-use residential project in Sheikh Zayed City, West Cairo, with a total investment of EGP 3bn. The development is a strategic collaboration between Saudi businessman Eng. Yahya bin Ahmed Al-Ansari, Chairman of Saudi Group Developments, and Eng. Bashar Mohamed Abu Hamar,…

Al-Sisi calls for private sector partnership to boost Egypt’s agriculture, livestock

May 21, 2025

Egyptian President Abdel Fattah Al-Sisi on Wednesday urged stronger collaboration between the government, private sector, and local communities to revitalize the country’s agriculture, livestock, and fisheries sectors—key drivers of food security and economic development. Speaking at the launch of the first phase of the “New Future of Egypt Industrial City”…

China’s Xinxing invests $150m in ductile iron pipe plant in Egypt

May 21, 2025

Deputy Minister of Housing, Utilities, and Urban Communities, Sayed Ismail, toured the Suez Canal Economic Zone (SCZONE) this week, visiting the newly established Chinese Xinxing factory for ductile iron pipe production. During his visit, Ismail inspected all stages of the manufacturing process—from the assembly of local components and smelting, to…

CBE to decide interest rate path Thursday amid divided analyst views

May 21, 2025

The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) will hold its third scheduled meeting of 2025 on Thursday to decide on key interest rates—an outcome closely watched as a benchmark for the short-term direction of Egypt’s monetary policy. The meeting comes against a backdrop of divided expectations among…

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