News

Ahmed Rostom has been appointed Egypt’s Minister of Planning and Economic Development, succeeding Rania Al-Mashat, as part of a new cabinet formation announced on Tuesday by the Speaker of the House of Representatives, Hesham Badawy. International and Financial Expertise Rostom joins the cabinet following an extensive career in international finance,…

A high-level Japanese investment delegation is visiting Egypt as part of ongoing efforts to deepen economic and investment ties between the two countries and advance cooperation on infrastructure and sustainable development projects in Egypt and across Africa. The visit is organised by the Egyptian Commercial Service in Tokyo, headed by…

Beltone Holding has announced the successful completion of its acquisition of Baobab Group, through which Beltone Capital, a wholly owned subsidiary of Beltone Holding, acquired 100% of Baobab for a total consideration of €197.6m. The transaction marks Beltone’s first cross-border acquisition and the largest deal in the company’s history, underscoring…

Rolls-Royce has marked the delivery of EgyptAir’s first Airbus A350-900, powered exclusively by Trent XWB-84 engines, as the national carrier advances its long-haul fleet modernisation programme. The aircraft is the first of 16 A350-900s ordered by EgyptAir and is set to play a central role in expanding the airline’s international…

Commercial International Bank-Egypt (CIB) on Tuesday reported consolidated net income of EGP 20.1bn in the fourth quarter of 2025, up 57% year on year. Full-year 2025 consolidated net income reached EGP 82.2bn, or EGP 18.2 per share, marking a 49% increase compared with full-year 2024. Consolidated revenues amounted to EGP…

Egypt’s annual urban inflation eased to 11.9% in January 2026, down from 12.3% in December 2025, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). In a statement issued on Tuesday, CAPMAS said the overall consumer price index (CPI) for the Arab Republic of Egypt reached 268.1 points…

Egypt’s House of Representatives on Tuesday approved a major cabinet overhaul featuring the reinstatement of the Ministry of Information and the appointment of 14 new ministers across key portfolios. The reshuffle, approved during an emergency session following a communication from President Abdel Fattah Al-Sisi, introduces significant structural changes to the…

Zinox El Zenouki and Master for Household Cookware wrapped up their participation in Ambiente 2026 in Germany, one of the world’s largest international exhibitions for tableware, cookware, and household products. The participation is part of a broader strategy to expand overseas, boost exports, and open new markets for Egyptian-made products.…

A member of the Gold Division of the Egyptian Chambers of Commerce Sameh Abdel-Hakim on Monday explained the reasons behind the current rise in gold prices in the Egyptian market. During his interview with Sada el-Balad TV, he explained one of the main reasons is the trend among global central…

Mohamed El-Gawsaky, Chief Executive Officer of GAFI, met with Emad El-Sewedy, Chairperson of ElSewedy Electrometer, in the presence of Mohamed Shawky, Director of the company’s Electricity Business Line, and Hesham Shaker, Director of Financial Planning and Budgeting. The meeting focused on addressing existing challenges, enhancing cooperation, and supporting the company’s…