News

Egypt is seeking to expand and diversify its portfolio with the Asian Infrastructure Investment Bank (AIIB), with a focus on energy, transport, ports, and logistics, alongside greater financing for the private sector. Egyptian President Abdel Fattah Al-Sisi discussed future cooperation with AIIB President Zou Jiayi at a meeting attended by…

Minister of Petroleum and Mineral Resources Karim Badawi affirmed that upgrading infrastructure in the petroleum sector represents a key pillar to bolster energy security and support Egyptian economic competitiveness, noting that upgrading refineries, improving crude and petroleum product transport networks, and expanding storage capacities top sector priorities in the coming…

Egypt’s participation in a Chinese international exhibition will open new horizons for domestic products in global markets and enhance trade cooperation, the chief executive of the country’s enterprise development agency said.   Mostafa Hassan stated that the Micro, Small and Medium Enterprises Development Agency (MSMEDA) is representing Egypt at the…

The Ready-Made Garments and Home Textiles Chamber at the Federation of Egyptian Industries (FEI) has participated in workshops held in Sweden as part of the EU-funded AlignVET project, which aims to align Egypt’s technical and vocational education and training programmes with the actual needs of the labour market. Funded through…

Egypt’s Ministry of Housing, Utilities and Urban Communities will open applications for 25,000 new housing units under rental and rent-to-own schemes starting 20 September, as part of efforts to diversify housing solutions and expand access to affordable accommodation. Housing Minister Randa El Menshawy said the offering is being launched in…

The Financial Regulatory Authority (FRA) has issued its first comprehensive guide to the rules and regulations governing consumer finance companies, providing a unified reference for the regulatory requirements governing the activity. The guide aims to enhance companies’ and sector employees’ awareness of all legislative and regulatory obligations imposed on them…

The Central Bank of Egypt (CBE) said the banking sector’s net foreign assets rose to $28.418bn in July 2026, equivalent to EGP 1.454trn, compared with $27.965bn, equivalent to EGP 1.378trn, in June 2026. The US dollar exchange rate against the Egyptian pound stood at EGP 51.1934 in July, compared with…

Egyptian President Abdel Fattah Al-Sisi has ordered a Cairo greening project that would turn vacated spaces across the capital into green areas, alongside ongoing efforts to restore historic and Islamic Cairo and redevelop areas surrounding heritage sites. Al-Sisi reviewed plans to revive Cairo’s historic landmarks during a meeting with senior…

The Housing and Development Bank (HDB) has conducted a cyberattack simulation exercise, known as a Tabletop Exercise, in cooperation with Unit 42, a global company specialising in cyberattack simulation and digital threat response. The exercise forms part of the bank’s strategy to strengthen its cybersecurity framework and enhance its readiness…