Egypt receives first €1bn EU funding instalment
Egypt has received the first instalment of a €1bn funding package from the European Union, with the funds being deposited into the Central Bank of Egypt (CBE) on Friday, Prime…
Egyptian, Syrian Foreign Ministers discuss political transition in call
Egyptian Foreign Minister Badr Abdelatty and Syrian Foreign Minister Asaad Al-Shibani, appointed by Syria's new rulers, spoke by telephone on Tuesday to discuss the ongoing situation in Syria. Ambassador Tamim…
Pakistan PM Unveils 5-Year Economic Plan, Urges Unity
Pakistan Prime Minister, Muhammad Shehbaz Sharif, on Tuesday launched a five-year economic plan, titled "Uraan Pakistan," aimed at achieving sustainable, export-led economic growth. The plan is based on what the…
Egypt’s GDP Growth Reaches 3.5% in Q1 FY2024/25
Egypt’s economy experienced a 3.5% growth in the first quarter (Q1) of the FY2024/25, according to the Ministry of Planning, Economic Development, and International Cooperation. This marks an increase from…
Housing Ministry considers launching new lands for mixed-use, tourism projects in New Alamein
Prime Minister Mostafa Madbouly convened a meeting with Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, to review the latest developments across several national projects. During the meeting, El-Sherbiny…
5.24% increase in manufacturing, extractive industry index for October 2024
The Central Agency for Public Mobilization and Statistics (CAPMAS) has reported a 5.24% increase in the Manufacturing and Extractive Industries Production Index for October 2024. The index, which excludes crude…
Banque Misr’s mortgage portfolio hits EGP 21bn for 145,000 clients in 2024
Banque Misr has announced a significant increase in its mortgage portfolio, which rose by approximately EGP 3bn in 2024, bringing the total portfolio to EGP 21bn. This growth benefits approximately…
Egyptian Parliament approves $131m AfDB budget support deal
The Egyptian House of Representatives has approved an agreement with the African Development Bank (AfDB) for $131m to finance the first phase of the Private Sector Development and Economic Diversification…
Beltone Holding announces capital increase to EGP 21.676bn to fuel expansion, diversification
Beltone Holding has revealed the reasons behind its decision to increase its authorized capital from EGP 11bn to EGP 22bn, and its issued and paid-up capital from approximately EGP 10.926bn…
CBE extends fee exemption for digital transfers via IPN, InstaPay for 3 months
In line with Egypt's Vision 2030 to foster digital transformation, the Central Bank of Egypt (CBE) has issued a new set of decrees extending the exemption of fees and commissions…