News

Egypt has appointed Islam Azzam as the acting chairperson of the Financial Regulatory Authority (FRA) under Presidential Decree No. 116 of 2026, the regulator announced on Monday. Azzam becomes the sixth person to lead the authority since its establishment under Law No. 10 of 2009, which governs the regulation of…

Egypt will raise the national minimum wage and implement a package of government spending cuts to mitigate the domestic economic impact of regional military escalation, Prime Minister Mostafa Madbouly announced on Monday. The decisions were made during a meeting of the Central Crisis Management Committee, chaired by Madbouly, to monitor…

Converted, a company specialising in AI-driven advertising technology for emerging markets, has announced the acquisition of Mitcha, an Egyptian e-commerce platform dedicated to supporting local fashion designers. The move marks a strategic step towards building a more integrated, data-driven digital commerce ecosystem focused on measurable business outcomes. Under the agreement,…

Granite Financial Holding has received approval from Egypt’s Financial Regulatory Authority (FRA) to launch a new USD-denominated fixed-income fund, marking a significant milestone in its expansion within the CashTech sector. The fund, established in partnership with Al Naeem Holding for Investments, positions Granite as the investment manager, ensuring professional oversight…

Egypt’s Ministry of Agriculture and Land Reclamation announced that the Central Administration of Plant Quarantine has successfully secured access to the Panamanian market for Egyptian citrus exports, marking a new step in expanding Egypt’s agricultural trade presence in Latin America. According to the ministry, Panama has officially approved the import…

Egypt’s Minister of Water Resources and Irrigation, Hany Sewilam, and South Africa’s Minister of Water and Sanitation, Bimmy Majodina, opened a joint virtual seminar marking International Women’s Day to discuss the role of women in water management and international water cooperation. The seminar, held under the theme “Water for People”,…

The Egyptian Linear Alkyl Benzene Company (ELAB) recorded its highest production levels since its establishment, producing 141,000 tonnes of Linear Alkyl Benzene (LAB) during the 2025 fiscal year, according to results presented at the company’s general assembly meeting. During the meeting, Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi,…

Egypt’s Minister of Industry Khaled Hashem held an expanded meeting with a number of ceramic and porcelain manufacturers to discuss the key challenges facing the sector and explore potential solutions to support its growth and sustainability. During the meeting, participants reviewed several issues affecting the ceramic and porcelain industry, including…

The US dollar continued its rise against the Egyptian pound during Sunday’s trading, reaching levels exceeding LE52 in most banks in the local market for the first time in several months. This continues the upward trend recently witnessed in the exchange market. The US dollar was priced at approximately LE52.10…