Egypt to receive 2nd tranche of African Development Bank loan

On Monday, the Minister of International Cooperation Sahar Nasr signed an agreement with Leila Mokaddem, resident representative of the African Development Bank (AFDB) to receive $500m as the second tranche…

Hisham Salah

Muslim Brotherhood’s sympathy with executed militant reflects support for terrorism: Foreign Ministry

Brotherhood previously used charges against Habara to clear the group’s name in the “Rafah massacre” case

Amira El-Fekki

Electrolux Egypt raised prices by 20-25% after flotation

Local components in heaters increased from 70% to 90%

Abdel Razek Al-Shuwekhi

US dollar surpasses EGP 19 at CBE to hit highest rates since flotation

The US dollar price at the Central Bank of Egypt (CBE) and banks operating in Egypt surpassed EGP 19, registering its highest level since the flotation of the Egyptian pound…

Hossam Mounir

Careem becomes MENA’s second unicorn, raises $350m

  Ride-hailing app Careem announced closing an initial investment round of $350m, as part of a $500m funding round. The investment of $350m was co-led by Japan's Rakuten Inc. and…

Daily News Egypt

EGPC poses tender to replace Aramco fuel shipments in January

The Egyptian General Petroleum Corporation is set to pose a tender to supply all needs of the domestic market of petroleum products in January, replacing the Saudi Aramco shipments, which…

Mohamed Adel

Siemens to test 4 units of Beni Suef power plant next week

The German company Siemens will conduct test runs on four electricity production units at the Beni Suef power station next week. The Upper Egypt Electricity Production Company's CEO, Ibrahim El…

Mohamed Farag