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Egypt’s banking sector NFA climb to $29.5bn in January 2026

Net foreign assets (NFA) of Egypt’s banking sector increased to $29.5bn (EGP 1.385trn) in January 2026, up from $25.452bn (EGP 1.216trn) in December 2025, an increase of approximately $4.048bn. NFA are widely regarded as a key indicator of banking sector stability and resilience, reflecting the difference between foreign currency assets…

Egypt unveils integrated plan to boost pharmaceutical, garments exports

Egypt’s Ministers of Investment and Foreign Trade, Industry, and Labour have held two high-level meetings with key industry stakeholders as part of a coordinated government drive to strengthen the competitiveness of the pharmaceutical and ready-made garments sectors, increase exports, and deepen local manufacturing. Pharmaceutical sector roadmap The first meeting brought…

US dollar nearing LE 49 after rising 88 piasters in banks

The exchange rate of the US dollar against the Egyptian pound saw a notable increase during Sunday’s trading, with the US currency rising by amounts ranging between 38 and 88 piasters in several banks, compared to the average closing prices on Thursday. The price in certain banks approached the LE49…

Gold prices soar after US-Israeli war on Iran

Global markets opened trading on Monday with a sharp rise in gold prices driven by escalating geopolitical tensions. The US-Israeli strikes on Iran began on Saturday morning, killing Iranian Supreme Leader Ali Khamenei and several other senior commanders, raising fears of a wider regional escalation and global economic repercussions.  …

BRT offers $5bn cheaper alternative to metro: Transport Minister

Egypt’s Transport Minister Kamel Al-Wazir conducted an inspection tour of the Bus Rapid Transit (BRT) project. The tour focused on the final touches and operational readiness of the second phase, extending 40 km from El-Moshir Tantawy Station to Sun Capital Station at the intersection of the Ring Road and Fayoum…