News

The Sovereign Fund of Egypt (TSFE) has invited investment banks and specialised financial institutions to submit technical and financial bids to manage the sale of a stake of up to 20% in Misr Life Insurance, the Ministry of Investment and Foreign Trade said. The move to appoint a manager to…

The US dollar continued its rise against the Egyptian pound during trading on Tuesday, officially surpassing the LE50 mark in several banks operating in the local market. It made a new increase of approximately 20 piasters compared to Monday’s trading levels, amidst rapid movements in the exchange market and market…

The European Bank for Reconstruction and Development (EBRD) is supporting aluminum production in Egypt by providing a loan of up to €13.7m to Alumil Misr for Trade and Industry, the Egyptian subsidiary of ALUMIL.   The EBRD’s financing will fund the construction and installation of a new aluminum extrusion line…

Egypt’s Minister of Industry, Khaled Hashem, has held his first expanded meeting with the Board of Directors of the Federation of Egyptian Industries (FEI), chaired by Mohamed El Sewedy, alongside heads of industrial chambers, as part of efforts to deepen engagement with manufacturers and address pressing production challenges. The meeting…

Egypt’s Health Ministry signed a memorandum of understanding (MoU) with Ain Shams University aimed at strengthening cooperation in health economics, evidence-based policymaking and medical investment, the ministry said on Tuesday. The agreement seeks to enhance healthcare service efficiency, support applied research and improve strategic decision-making based on data and scientific…

Egypt’s Water Resources and Irrigation Minister Hani Sewilam said preparations are underway to sign a cooperation protocol with the Transport Ministry and the Egyptian National Railways Authority to maximise the use of state-owned assets linked to the water sector. The remarks came during a meeting with the chairperson of MOT…

Basil Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that the agency has injected EGP 3bn into Qena during the period from July 2014 to December 2025. He noted that this funding enabled the financing of 99,000 diverse small and micro enterprises, generating 151,000 job…