Egypt signs $135 million deal to establish MG Car Manufacturing Facility
Egypt has inked two significant agreements to establish an MG car manufacturing facility with a total investment of $135 million. These agreements concluded on December […]
Egypt
Egypt: CBE keeps interest rates unchanged in final meeting for 2024
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) met on Thursday, December 26, and decided to maintain the overnight deposit rate […]
Egypt partners with UAE’s Alcazar for $2.5B hybrid power plant in Zafarana
The Egyptian Government has finalized an agreement with UAE-based company Alcazar to establish a hybrid power plant in the Zafarana region. This project will combine […]
Egypt celebrates production of first batch of locally made insulin
Egypt marked a significant milestone in its pharmaceutical sector with the production of the first locally-made insulin. During a ceremony on Tuesday, December 17, Chairman […]
Egypt Secures $40 million loan for landmark wind energy project
Egypt has secured a $40 million loan from the OPEC Fund for International Development to advance the construction of two large-scale wind farms in the […]
China leads as Egypt’s top import market in 2024
China has solidified its position as Egypt’s leading trading partner for imports during the first eight months of 2024, according to data from the Central […]
Egyptian expatriates’ remittances surge to $2.7 billion following financial reforms
Remittances from Egyptians working abroad have experienced remarkable growth following a series of financial reforms implemented in March 2024, the Central Bank of Egypt (CBE) […]
IFC-Egypt: Agreement on aspects of airport privatization plan
The International Finance Corporation (IFC) announced substantial progress in its discussions with the Egyptian Government regarding the country’s airport privatization program. During a meeting on […]
Moody’s projects 5% growth for Egypt’s economy in next fiscal year
Credit ratings Agency Moody’s has expressed confidence in Egypt’s economic future, forecasting a 5% growth rate for the upcoming fiscal year, building on an estimated […]
Chinese EV makers to boost investments in Africa to avoid tariffs as rivalry with EU, US heats up
With the United States and the European Union imposing hefty tariffs on Chinese electric vehicles (EVs), its carmakers are searching for alternative markets, notably in […]