Category: News

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…

Industry Minister Khaled Hashem said the alloys industry is a complementary industry under Egypt’s industrial strategy and a key input for iron, steel and heavy industries. It also helps maximize the use of mineral resources and increase the added value of local raw materials. Speaking on Sunday, August 16, 2026,…

Finance Minister Ahmed Kouchouk said the government is working to simplify customs concepts and procedures to ensure consistent customs practices and facilitate processes for investors, as part of an integrated institutional reform strategy aimed at improving customs awareness among employees and investors. Kouchouk said in a statement on Sunday that…

Egypt’s Minister of Industry Khaled Hashem inspected the manganese alloy plant operated by Sinai Manganese Company during his first visit to the Abu Zenima Industrial Zone in South Sinai, reviewing the company’s production operations and expansion plans, including a target to raise annual production capacity to 50,000 tonnes by the…