News

Egyptian President Abdel Fattah Al-Sisi met senior government officials on Tuesday to review progress on the first phase of the national rural development initiative, known as “Decent Life”, the presidency said. Presidential spokesperson Mohamed El-Shennawy said the first phase is being implemented across 20 governorates, 52 districts, 333 local units…

Egypt is scheduled to receive a €1bn disbursement from the European Union this coming Thursday under the Macro-Financial Assistance (MFA) budget support mechanism, according to Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat. The payment follows the government’s implementation of 16 economic and structural measures under the National…

Rasha Abdel Aal, Head of the Egyptian Tax Authority, announced that the second package of tax facilitation measures includes a series of significant legislative amendments aimed at supporting economic activity while simplifying the tax system. These measures come in line with the directives of Minister of Finance Ahmed Kouchouk to…

Egypt’s Minister of Water Resources and Irrigation, Hany Sewilam, met with Hatem Nabil, head of the Central Agency for Organisation and Administration, to discuss institutional reform and ways to address staffing shortages at the ministry, according to a ministry statement. The discussions reviewed proposals to modernise the ministry’s administrative structure,…

The Central Agency for Public Mobilization and Statistics (CAPMAS) has released its monthly Foreign Trade Data bulletin for October 2025. Egypt’s trade deficit stood at $4.58bn in October 2025, compared with $4.52bn in the same month of the previous year, marking a 1.3% increase. The value of exports declined by…

Contact, a leading provider of non-banking financial services in Egypt, has signed a memorandum of understanding with Al Safy Group to establish a strategic partnership aimed at enhancing the financing experience through innovative, technology-driven financial solutions. The partnership introduces, for the first time in the Egyptian market, a financing model…

The European Investment Bank (EIB), through its development arm EIB Global, announced on Tuesday a $150m financing package for Egypt’s Obelisk solar photovoltaic project, coinciding with the inauguration of the first phase of the plant in Qena. The event was attended by Egyptian Prime Minister Mostafa Madbouly; EIB Global Director…

Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, met with Mohsin Alhadhrami, Undersecretary of Oman’s Ministry of Energy and Minerals and Chairperson of Petroleum Development Oman, on the sidelines of the International Mining Conference currently underway in Saudi Arabia, to discuss the exchange of expertise in the mining, oil…

CAIRO, Jan 11 (MENA) – Egyptian stocks closed sharply higher on Sunday, the first trading session of the second week of 2026, driven by strong buying from investors amid optimism over the outlook for the economy and key sectors, traders said. Market capitalization of listed companies rose by about LE47…