The UAE is also the largest foreign investor in Egypt, as it contributes to projects with capital exceeding $7bn Egypt’s exports to the UAE were $2.882bn in 2020, compared to $2.51bn in 2019 The volume of trade between Egypt and the United Arab Emirates shot up to $4.11 billion in...

The IMF has completed the second review of Egypt’s economic reform program allowing the authorities to draw about $1.7 billion The IMF also commended Egypt’s strong performance under the Stand-by Arrangement Egypt’s economic growth is expected to rebound strongly to 5.2 percent in 2021-22, the International Monetary Fund (IMF) said...

Britain third-largest investing country in Egypt after UAE, Saudi Arabia Egyptian food exports to UK surged by 76 percent despite the pandemic Trade between Egypt and Britain increased 8 percent year-on-year to £519 million ($722 million) in the first quarter of 2021, said Nasser Hamed, director of the EU Administration...

Copper coins from Greek and Roman periods among artifacts recovered The accused was a member of Hosni Mubarak's now-dissolved party Egyptian police arrested Thursday a former lawmaker and others on charges of illegal excavation and smuggling of 201 Pharaonic, Greek and Roman artifacts, an interior ministry statement said. Security agencies...

*Egypt slashed its initial claim for $900m to $550m *Final deal expected by the middle of next week Egypt has signed a non-disclosure agreement with the Japanese owner of a megaship that blocked the Suez Canal in March as it finalizes a compensation agreement, the canal authority chief said. Egypt...

The former chief of Amesys, Philippe Vannier, was charged in Paris last week with "complicity in acts of torture" Olivier Bohbot, head of Nexa Technologies, and two other executives were charged with "complicity in acts of torture and forced disappearances" Prosecutors have charged four executives at two French companies accused...

SheTrades aims to connect 3 million women, entrepreneurs, to markets by the end of 2021 The Egyptian chapter of the project will focus on supporting women in the handicrafts sector Women's economic empowerment initiative, SheTrades, which aims to connect 3 million women entrepreneurs to markets by the end of 2021,...

Colliers white paper explains why IVF popular in MENA region despite high population growth IVF one of leading treatments undertaken by medical tourists in UAE In-vitro Fertilization (IVF) market in UAE, Saudi Arabia and Egypt is estimated to be worth $1 billion, according to a white paper on the IVF...

    With its abundant sunlight and wind resources, the Middle East could be the hub of renewable energy The latest country to enter the race is Egypt with its $4 billion investment plan   Hardly a week goes by when there is not a new announcement made by a...

  President Sisi called Libyan institutions to fulfill their national duty Egypt, Libya discussed how to strengthen cooperation and support the political process in the war-torn country Egypt has reiterated its support for the Libyan government as the latter prepares to hold elections by the end of the year expected...

Thirteen imported electric vehicles will be tested on Egyptian streets from next month The plan is in line with the global trend to have more less-polluting electric cars Taking a cue from the global trend towards manufacturing electric cars in bulk, Egypt will begin testing electric cars on the country’s...

Loan meant to fund Egypt's second phase of Electricity and Green Growth Support Program The program will advance the provision of clean, reliable energy to drive green growth CAIRO: African Development Bank approves loan of €83 million for Egypt's electricity sector to spur economic recovery from Covid-19 The African Development...

Located less than 20 km from Africa’s biggest solar park, Kom Ombo plant will add 200 MW of energy capacity Leading Saudi developer and investor ACWA Power will construct the plant ACWA Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants in 13 high-growth...

About 150 Saudi investors and businessmen ready to invest in Egypt Saudi Arabia has opened an office of the Saudi-Egyptian Business for investment in Egypt Saudi Crown Prince Mohammed bin Salman has urged local businessmen to make investments in Egypt, Al Arabiya reported citing the Chairman of the Business Council...

Egypt and Saudi Arabia will soon launch the African country’s electrical interconnection project This will increase grid capacity to 2,000 megawatts   Egypt and Saudi Arabia will soon launch the African country’s electrical interconnection project, said local reports on Tuesday, June 15. This “major scheme” will increase grid capacity to...

  More than 350,000 customers benefited from the scheme launched seven years ago The National Bank of Egypt topped banks that provided the most funding for low-income people   Seven years after Egypt began to offer loans to low-income families to own homes, Egyptian banks and mortgage finance companies have...

There are 6,285 Saudi companies operating in Egypt with investments exceeding $30 billion  More than 518 Egyptian companies operate in the Saudi markets Saudi Arabia aims to be the first trading partner of Egypt for the next five years, local reports on Monday, June 14, quoted the former’s Minister of...

Egypt’s inflation accelerated to a 5-month high of 4.8 percent year-on-year in May Global food import costs are expected to rise 12 percent in 2021 Egypt will see another round of worse food inflation as economic activity gains momentum, according to Abu Dhabi Commercial Bank. The warning was sounded while...

Egypt's public transport, renewable energy sectors among 9 other projects to receive investment With the billions in financing, Egypt has become "a strategic economic partner of France” French Finance Minister Bruno Le Maire on Sunday signed agreements with Egypt to invest 3.8 billion euros in the most populous Arab country's...

Incorta, a US data analytics company, conducted the survey About 153 business leaders in 11 industries from Egypt,  GCC took part in the survey About 66 percent of the business leaders in Egypt and the countries of the Gulf Cooperation Council (GCC)  plan to invest more in data analytics this...

Both seasonal destinations will be served by the airline’s new Airbus A321neoLR.  Mykonos and Santorini have also been added as boutique summer destinations Gulf Air, the national carrier of the Kingdom of Bahrain, announces the two weekly flights to Alexandria and Sharm El Sheikh in Egypt beginning 30 June until...

The rise has been due to remittances sent by Egyptians working abroad According to the Ministry of Planning, the reserves cover eight months of Egypt’s imports Egypt’s foreign reserves shot up to $40.3 billion at the end of May, a jump of $125 million from the month of April. The...

Russia had suspended the service after its plane crashed in Egypt, killing all the 224 passengers on board The plane had been taking Russian holiday makers home from Sharm el-Sheikh to St. Petersburg in 2015 Nearly six years after a Russian plane with 224 passengers on board crashed over the...

In Egypt, the goal is to revive the cotton industry by supporting growers to cultivate sustainable cotton.  In Sudan,  dairy enterprises will be provided with technical assistance for food safety production  The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IDB), has partnered with...

The exhibition is expected to feature more than 150 participants from 20 countries, covering the four core sectors of manufacturing: food ingredients, processing, packaging and machinery, and logistics

Company first private developer to build Y-shaped skyscraper in New Administrative Capital North31, area 18,000sqm, is a commercial, administrative, medical mall overlooking Down Town district in NAC Nile Developments, an Egyptian real estate company, has posted EGP1.2bn ($76m) from its North 31 “Festival Towers", its first project in the New...

The Suez Canal Authority (SCA) claimed more than $916 million in damages, but out-of-court negotiations lowered the figure to $550 million

PickAlbatros has a portfolio of about 10,000 rooms across the Red Sea resort towns Vantage Capital partner David Kornik expects international beach tourism to pick up Vantage Capital, Africa’s largest mezzanine fund manager, announced Tuesday that it has provided $23 million of mezzanine debt funding to PickAlbatros Hotels. The proceeds...

Egypt has been instrumental in a recent Israel-Palestine ceasefire in the region  The UAE has said the "Abraham Accords" would benefit the Palestinians Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan was quoted by state media as saying on Sunday that the United Arab Emirates is ready to facilitate...

Councils will facilitate exchange visits of small enterprises owners in both countries Youth-driven growth of small enterprises thrust of Algeria-Egypt cooperation, says minister Dhiyafat Algeria and Egypt are looking at the possibility of establishing business councils for small enterprises in the two countries and at the same time working for...

US Vice President Mike Pence started his three-nation Middle East visit on Saturday amidst a lot of dilemmas and confusions erupting because of US’ latest stance on the status of Jerusalem. If on one hand, many Middle East nations have expressed resentment over US’ decision to recognize Jerusalem as Israel’s...