News

Egyptian President Abdel Fattah al-Sisi said on Sunday that regional conflicts have caused a $10bn loss in Suez Canal revenues, describing recent domestic fuel price increases as an “inevitable” measure to protect the national economy. Speaking at the “Egyptian Family Iftar” in Cairo, Sisi stated that the EGP 500bn decline…

Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz on the condition that their cargo is priced in Chinese yuan, a senior US official told CNN. The potential move comes as Tehran develops a new plan to regulate the flow of tankers…

Egypt’s Minister of Industry Khaled Hashem held talks with a delegation from DrasChem Specialized Chemicals, led by CEO Mohamed Abdel Aziz, to discuss plans to establish and operate the first sodium cyanide and derivatives production plant in Egypt and the Middle East. The proposed project is expected to support Egypt’s…

Egypt’s Ministry of Health and Population and Ministry of Local Development have signed a cooperation protocol to implement the National Population and Development Strategy 2030, aimed at balancing population growth with economic development and improving living standards for Egyptian families. The agreement was witnessed by Khaled Abdel Ghaffar, Minister of…

Egypt’s Ministry of Water Resources and Irrigation is collaborating with the National Council for Childhood and Motherhood and UNICEF to empower girls from vulnerable communities by training them to recycle water hyacinth into handmade products, the ministry said. The initiative forms part of the “Ward Al-Kheir” programme, which aims to…

The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has injected EGP 3.1bn in financing to support 133,900 projects in Fayoum between July 2014 and December 2025, according to Bassel Rahmy, CEO of the agency. Rahmy said the financed projects have generated approximately 184,900 job opportunities, highlighting MSMEDA’s role in…

The Financial Regulatory Authority (FRA) has granted preliminary approval to Lumin Soft to join its FinTech Regulatory Sandbox, making it the third company to receive such approval since the sandbox’s launch. The move comes as part of the Authority’s efforts to promote the adoption of financial technology and expand digital…

Egypt’s Minister of Industry Khaled Hashem held an expanded meeting with a delegation from Mercedes-Benz Egypt headed by CEO Stefanie Volz‏ to discuss opportunities to localise automotive manufacturing and expand the company’s operations in the Egyptian market in the coming period. The discussions explored promising investment opportunities in Egypt’s automotive sector…

The Agricultural Bank of Egypt (ABE) has launched a new three-year savings certificate as part of its portfolio of savings products, aimed at providing safe and guaranteed investment instruments with competitive returns that cater to the needs of different customer segments. The certificate offers a fixed return throughout its three-year…