News

Egypt has launched a unified digital platform, “Property Egypt,” to facilitate real estate ownership for foreigners and Egyptians living abroad as a primary mechanism to increase foreign currency resources, Prime Minister Mostafa Madbouly said on Thursday. The platform is designed to provide a secure digital system for property exports, ensuring…

The Chairman of Orascom Investment Holding (OIH), Naguib Sawiris, has announced his intention to compete for the management contract of the Hurghada International Airport. Sawiris revealed that OIH has recently been approached by prominent British and French firms to form a consortium, aiming to bid for the first airport the…

Israeli Prime Minister Benjamin Netanyahu announced on Wednesday evening the official approval of a major natural gas agreement with Egypt. During a press conference, Netanyahu stated: “We are actively extracting gas from our territorial waters, and our economy remains one of the strongest in the world,” emphasizing that “this gas…

Egypt has signed three grant agreements with Canada worth approximately EGP 552m to fund projects focused on women’s empowerment, food security, and refugee support, the Ministry of Planning, Economic Development and International Cooperation said on Wednesday. The agreements were signed by Minister Rania Al-Mashat and Canada’s Ambassador to Egypt, Ulric…

Egypt’s Foreign Minister Badr Abdelatty said on Wednesday that Cairo plans to establish an investment hospital in Banjul staffed by Egyptian medical professionals as part of a broader effort to deepen economic and infrastructure ties with Gambia. Speaking during a meeting with his Gambian counterpart Serigne Modou Njie in Cairo,…

The Egyptian Cabinet, chaired by Prime Minister Mostafa Madbouly, approved a package of major decisions during its 71st meeting, underscoring efforts to localise industry, attract foreign investment, expand clean energy, and support regional development. Chief among the approvals was the granting of Golden Licenses to two strategic projects worth a…

Egypt expects its non-oil merchandise exports to reach between $48bn and $50bn by the end of the current year, marking a 20% annual growth rate, Prime Minister Mostafa Madbouly said on Wednesday. Speaking at a weekly press conference, Madbouly stated that non-oil exports recorded approximately $40bn in 2024. He affirmed…

IBF & Company has completed the acquisition of a 50% equity stake in Diatom CBT, a cross-border technology company operating in the UAE and Egypt, in a move aimed at strengthening its portfolio of technology-driven ventures and expanding its footprint in global e-commerce. The transaction marks a significant milestone in…

The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group, has secured a record $11bn for its 17th replenishment (ADF-17)—the largest fundraising outcome in the Fund’s history—signalling a decisive shift toward investment-led development across the continent. Backed by 43 development partners, the replenishment reflects a…

Egypt’s Minister of Water Resources and Irrigation, Hany Sewilam, met on Wednesday with Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, and Minister of Agriculture, Alaa Farouk, to review joint projects and enhance coordination aimed at supporting water and agricultural systems while protecting road…