News

Egypt is targeting renewable energy to account for 45% of its total electricity generation by 2028 as it accelerates investments in clean energy, battery storage systems and local manufacturing. President Abdel Fattah Al-Sisi reviewed progress on the national strategy to expand new and renewable energy projects during a meeting in…

RAYA CX, a subsidiary of Raya Holding for Financial Investments, reported consolidated revenues of EGP 1.7bn in the first half (H1) of 2026, marking a 29.3% year-on-year increase from EGP 1.3bn in the corresponding period of 2025. The company’s momentum continued into the second quarter (Q2), with revenues rising 24.2%…

Petroleum and Mineral Resources Minister Karim Badawi said the regular settlement of partners’ dues, together with the incentives and corrective measures introduced by the government, has helped rebuild investor confidence and paved the way for increased drilling, exploration and field development, supporting efforts to boost domestic production and reduce the…

Egypt’s Ministry of Health and Population and Huawei have discussed expanding cooperation on the digital transformation of the country’s healthcare system, including the use of artificial intelligence, cloud infrastructure and integrated health data platforms. Health and Population Minister Khaled Abdel Ghaffar met Huawei representatives to review potential areas of cooperation…

Egypt’s Ministry of Water Resources and Irrigation is preparing to begin trial operation of a digital twin for the Ismailia Canal and its branches as part of a broader drive to use digital technology to improve water management. Water Resources and Irrigation Minister Hani Sewilam reviewed progress on the project…

Talaat Moustafa Group Holding (TMG) recorded a 23% year-on-year increase in net profit for the first half of 2026 to EGP 9.9bn, as consolidated revenues rose 24% to EGP 30.2bn, the Egyptian developer said in a statement on Wednesday. Talaat Moustafa Group stated that its results were supported by strong…

El Gouna Red Sea, the flagship year-round Red Sea town of Orascom Development Egypt, has announced the introduction of the CANOPY Villa, the latest signature residence within SIBA El Gouna, further expanding the community’s curated architectural collection and reinforcing its position as El Gouna’s most architecturally diverse residential neighborhood. Introduced…

Finance Minister Ahmed Kouchouk said the government is targeting the allocation of six billion LE to pay in cash the third tranche of overdue dues owed to exporters for shipments made before July 1, 2024. Kouchouk said applications from exporting companies seeking to benefit from the third tranche of the…