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Egypt

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.
  • Baims acquires Orcas Edtech

    The firm plans to incorporate one-to-one tutoring services.
  • Gaza focus of German foreign minister’s upcoming Middle East tour

    Annalena Baerbock will hold talks with Israel's new Foreign Minister Israel Katz, as well as President Isaac Herzog, foreign ministry spokesman Sebastian Fischer told a regular press conference on Friday. She will also meet with Palestinian Authority president Mahmud Abbas and foreign minister Riyad al-Maliki.
  • AD Ports to build passenger terminals at Egyptian Red Sea ports

    Cairo, Egypt--AD Ports Group (AD Ports) has signed a contract with Egypt to build, develop, operate and maintain terminals for passengers and cruise lines at the Red Sea ports of Hurghada, Safaga and Sharm El Sheikh. The contract will also commit AD Ports Group to develop yacht and cruise ship...
  • Gaza zoo bears scars of war as animals die of starvation

    Rafah, Palestinian Territories--Hunger is everywhere at Rafah zoo, in Gaza's far south, as internally displaced Palestinians seek shelter from the war between cages and animals die of starvation. "The situation is very tragic, there's no food, water, medicine, or anything," its owner Ahmed Jumaa said, a parrot perched on his shoulder....
  • Dragon Oil starts oil production

    The Al Wasl field is its first oil discovery in Egypt.
  • Saudi Arabia launches skill verification program in Egypt

    Riyadh, Saudi Arabia - Saudi Arabia, through its Ministry of Human Resources and Social Development (MHRSD), has initiated the first phase of the Skill Verification Program (SVP) in Egypt. The collaborative effort with the Egyptian Ministry of Manpower aims to improve the proficiency of professional labor and raise the standard...
  • ADIB-Egypt introduces Shariah-compliant private banking services for HNWIs

    Cairo, Egypt – ADIB-Egypt has launched its exclusive portfolio of Private Banking Services, providing a Shariah-compliant banking proposition for its high-net-worth clients. This personalized proposition is designed to offer a premium range of wealth management services catering to clients with account balances starting from EGP 20 million ($64 million) upwards, or...
  • Gupco begins pumping oil in Egypt

    The production started at the first well in the Gulf of Suez.
  • Gaza ministry says 21,672 killed in war with Israel

    The Hamas-run health ministry here said that at least 21,672 people have been killed in the territory since the war with Israel erupted on October 7. A ministry statement said 165 Gazans were killed over the past 24 hours, while 56,165 others have been wounded in the fighting.
  • Egypt leads Arab world in population with 113m citizens

    DUBAI, UAE – Egypt stands as the most populous Arab country with 113 million people, marking it the 14th largest population worldwide, according to a recent overview by the World Population Review and Worldometer. The data, highlighting population sizes of various countries worldwide, pointed out that the global population has...
  • Gazans ‘exhausted’ as Israel-Hamas war rages on

    UN chief Antonio Guterres on Friday reiterated his call for "an immediate humanitarian ceasefire", while the World Health Organization (WHO) warned of the growing threat of the spread of infectious diseases among Gazans. Hamas-run Gaza's health ministry says the Israeli military campaign since then has killed at least 21,507 people,...
  • Hamas delegation to discuss Egypt’s Gaza ceasefire plan

    Sources close to Hamas say Cairo's three-stage plan provides for renewable ceasefires, a staggered release of hostages held by Hamas in exchange for Palestinian prisoners in Israel, and ultimately a ceasefire to end the war sparked by the deadly October 7 attack on Israel. It also provides for a Palestinian...
  • ADQ signs multi-year sponsorship agreement with Egypt’s Pyramids Football

    Abu Dhabi, UAE – ADQ, an Abu Dhabi-based investment and holding company, on Thursday announced the signing of a multi-year sponsorship agreement with Pyramids Football Club (Pyramids FC), an Egyptian Premier League professional sports club. As part of the agreement, ADQ will be the Official Partner of Pyramids FC. Since its...
  • UN says Gaza on cusp of famine due to Hamas-Israel war

    The Israel-Hamas war is pushing Gaza towards famine, the United Nations warned ahead of an expected Security Council vote on a resolution to boost aid to the Palestinian territory but not call for a ceasefire. Separate diplomatic efforts were also underway for a fresh pause in the worst-ever Gaza war.
  • Central Bank of Egypt keeps interest rates unchanged

    Cairo, Egypt – The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has kept the current key interest rates unchanged in its final meeting of 2023.  The decision leaves the overnight deposit rate at 19.25 percent, the overnight lending rate at 20.25 percent, the main operation rate...
  • Israeli strikes kill 12 in Rafah amid truce, hostage deal efforts

    "Twelve martyrs and dozens of wounded, including women and children, were recovered from under the rubble when a house and a mosque were targeted hundreds of meters from Kuwaiti hospital," Gaza's health ministry.
  • Hamas chief to visit Egypt for Gaza ceasefire talks

    According to a source close to the Palestinian Islamist group, Hamas chief Ismail Haniyeh is set to visit Egypt on Wednesday for talks on a ceasefire in Gaza and a prisoner exchange with Israel. Haniyeh will head a Hamas delegation to Egypt, where he is due to hold talks with...
  • Egypt’s Sisi wins third term despite painful economic crisis

    The outcome of the December 10-12 poll was widely expected after the former army chief with a fondness for infrastructure mega-projects campaigned against a small field of relative unknowns. It secures 69-year-old Sisi his third and, according to the Egyptian constitution, final term in office, starting in April and set...
  • Will Israel try to force Gaza’s population into Egypt?

    Filippo Grandi, head of the UN refugee agency, warned Wednesday that pushing Gazans across the frontier would be "extremely destabilizing for Egypt". "It's very important to insist that this evacuation of people beyond (the border) must not be promoted, must not be advanced, forced," the UNHCR chief told journalists in...
  • Additional border crossing to examine Gaza aid, says Israel

    International aid organizations have struggled to get supplies to desperate Gazans under Israeli bombardment, with only the Rafah crossing in Egypt open. UN humanitarian agency OCHA said Sunday that around 100 trucks per day were bringing humanitarian supplies from Egypt into Gaza since a week-long truce ended on December 1.
  • Google releases the top trending searches of the year in MENA

    Dubai, UAE - Google on Monday released the top trending searches of 2023 for the Middle East and North Africa. The annual lists reveal the most trending search queries which experienced a higher volume of search over a sustained period in 2023 compared to 2022. The lists included the top...
  • UN agency chief says Israel trying to force Gazans into Egypt

    "The United Nations and several member states, including the US, have firmly rejected forcibly displacing Gazans out of the Gaza Strip," UNRWA chief Philippe Lazzarini said. "But the developments we are witnessing point to attempts to move Palestinians into Egypt, regardless of whether they stay there or are resettled elsewhere."...
  • Egypt election offers more of the same despite crisis

    In a country gripped by the most severe financial crisis in its recent history-- inflation has hovered near 40% after the currency lost half its value-- the economy is the crux of Egyptians' concerns. Even before the crisis, about two-thirds of the country's nearly 106m people were living on or...
  • ENEC signs MoU with Egypt

    They will explore to advance the use of nuclear energy.
  • Israel continues Gaza bombing as US blocks UN truce bid

    Israel bombarded targets in Gaza after the United States blocked an extraordinary UN bid for a ceasefire in the war with Hamas that has triggered alerts of an "apocalyptic" humanitarian situation. Aid workers say Gaza's humanitarian system is on the verge of collapse, as disease and starvation threaten.
  • No surprises in store as Egypt heads to polls

    From Sunday through Tuesday, Egyptians aged 18 and above will be able to cast their ballots for one of four candidates -- former army chief Sisi, in power since he deposed elected Islamist president Mohamed Morsi in 2013, and three other relative unknowns.
  • Egypt to sign agreement on curbing methane emissions

    Abu Dhabi, UAE--Egyptian Petroleum Minister Tarek el Molla announced an agreement on laying down a detailed road map for cutting methane emissions of the petroleum and gas sector in Egypt via the offered technical support. According to the Middle East News Agency (MENA), the agreement is scheduled to be signed...
  • Qatari emir denounces ‘shameful’ global inaction in Israel-Hamas war

    Doha, Qatar - Qatar's ruler hit out at "shameful" international inaction over the Israel-Hamas war in Gaza as he opened a Gulf Cooperation Council meeting in Doha on Tuesday. "It is shameful for the international community to allow this heinous crime to continue for nearly two months, during which the systematic...
  • Israel and Hamas trade strikes as Palestinian toll mounts

    Smoke again clouded the sky over the north of the Palestinian territory, whose Hamas government said 240 people had been killed since a pause in hostilities expired early Friday and combat resumed. After the truce expired on Friday, Israel had told NGOs not to bring aid convoys across the Rafah...
  • Dubai COP28: Record attendance marks largest ever UN climate summit

    Among the host country's guests are Bill Gates and Antoine Arnault, the son of LVMH boss Bernard Arnault, the second richest man in the world after Elon Musk, according to Forbes magazine.
  • 109 Palestinians killed in Israeli strikes amid calls for truce extension

    Both the United Nations chief and the White House called for the break in fighting to be restored, and UN agencies warned of a "catastrophic" humanitarian situation as bombs fell and hospitals again struggled to cope with the wounded after a week-long respite.
  • US, Israel intel chiefs in Qatar to explore ‘next phase’ of Gaza truce

    The leaders of the US Central Intelligence Agency and Israel's Mossad were scheduled to meet Qatari Prime Minister Mohammed bin Abdulrahman Al Thani, the source said, adding that Egyptian officials were also taking part. The informed source said CIA director Bill Burns and Mossad head David Barnea would hold a...
  • Egypt jumps to third place in Offshore BPO Confidence Index

    Cairo, Egypt -- Egypt's global prominence received a boost as it jumped from 11th to third place in the 2023 Offshore BPO Confidence Index. The Offshore BPO Confidence Index 2023 report, highlighting Egypt's ascent, delves into key global outsourcing locations. Egypt's performance across seven categories—Local Labor Market, Infrastructure, Commercial Property,...
  • Israel says truce extension with Hamas a possibility

    The terms of the truce agreement pausing the fighting in the Gaza Strip say it can be extended beyond its initial four-day term as long as 10 hostages are released for each extra day, with three times as many Palestinians freed in return. As such, another 50 hostages would imply...
  • Beltone 9M net profit at $2.7m

    In 9M, the firm's restructuring led to a turnaround.
  • Biden to miss COP28 climate summit: US official

    Some 70,000 people including national leaders and Pope Francis are expected at COP28 as it opens Thursday, in what could be the largest United Nations climate summit ever. Schedules released by the White House for Biden and Vice President Kamala Harris showed neither heading to Dubai this week.
  • Hamas frees more captives in Gaza as truce extension mooted

    Hamas released a third group of hostages including a four-year-old American girl with more Palestinian prisoners set to be freed in exchange. A source close to the group said it was willing to prolong a truce. The Israeli army said 13 released hostages were back in the country and another...
  • Gaza truce: Hamas, Israel free second group of civilians

    The move, part of a broader truce agreement mediated by Qatar and Egypt, saw emotional reunions as families welcomed their loved ones back.
  • Latest developments in Israel-Hamas war

    Jerusalem -  Plans to release another group of Israeli hostages in exchange for Palestinian prisoners suffered a setback on Saturday, the second day of a four-day truce after seven weeks of war. On Friday evening the Palestinian group freed 13 Israelis, along with an unexpected 10 Thais and one Filipino,...
  • Saudi, Turkey, Egypt among 16 nations viewing climate change as top concern

    Riyadh, Saudi Arabia: Around 80% of consumers surveyed across 16 countries now view climate change as the world’s No. 1 challenge, a recent research conducted by GSMA Intelligence with support from Huawei, revealed. The countries include Saudi Arabia, Turkey, Egypt, South Africa, Argentina, Brazil, France, Germany, Indonesia, Italy, Japan, Pakistan,...
  • Egypt’s president calls for recognition of Palestinian state

    Speaking at a joint press conference with with the prime ministers of Spain and Belgium in Cairo, Sisi said revival of the process to end the Israel-Palestinian conflict "may not be what is required". Instead he called for a different approach, recognizing the Palestinian state by the international community and...
  • Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt

    RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of investments, Abdulrahman Altawil, the Kingdom’s Deputy Minister, Developmental Housing, Municipal and Rural Affairs and Housing said here. This reflects their confidence in the Egyptian market, he said. In a speech...
  • 39 Palestinians freed in exchange for 13 Israeli hostages as truce sets in

    Weeks of talks involving Israel, Hamas, Qatar, Egypt and the US saw three girls and a boy, aged from two to nine besides six women aged over 70 arrive in Israeli territory.
  • Israel-Hamas truce begins, hostages to be released

    An Egyptian security source told AFP that Israeli security officials, International Red Cross-Red Crescent staff and an Egyptian team would deploy to Rafah, on the Egypt-Gaza border, to receive the hostages, who will then be flown to Israel. AFP has confirmed the identities of 210 of the roughly 240 people...
  • Tunisian artist Hend Sabri quits WFP to protest against Gaza crisis

    Cairo, Egypt - Tunisian film star Hend Sabri has resigned as World Food Program goodwill ambassador in protest at what she called the use of starvation as a weapon of war in Gaza. Sabri, a leading figure in Arab cinema, said that she had decided with "a heavy heart and deep...
  • Aid-truck drivers hope truce will end long wait to enter Gaza

    After tedious days marked by idle chitchat and dreary diets of beans and instant coffee, the men, all Egyptians, took some comfort in news that more fuel and other essentials may soon be allowed in as part of a four-day truce that could begin as soon as Friday. But it...
  • ‘First good news’: World welcomes Gaza hostage deal

    US President Joe Biden thanked the leaders of Qatar and Egypt for their "critical leadership" in reaching the deal. "I am extraordinarily gratified that some of these brave souls… will be reunited with their families once this deal is fully implemented," Biden said, referring to the hostages.
  • Fishing nations pledge to protect sharks, rays

    CAIRO, EGYPT -  Atlantic fishing nations have agreed to better protect sharks and rays by limiting the retention of several bycatch species, but advocacy groups warn progress is still lagging. At the conclusion of the International Commission for the Conservation of Atlantic Tunas (ICCAT) this week, countries agreed on "new measures...
  • Top diplomats of some OIC countries arrive in Russia, to discuss Gaza

    MOSCOW, RUSSIA – The foreign ministers of Saudi Arabia, Jordan, Egypt, Indonesia, Palestine and the Secretary General of the Organization of Islamic Cooperation (OIC) have arrived here to discuss the Gaza Strip with Russian Foreign Minister Sergey Lavrov, a diplomatic source told TASS. "They have arrived, the meeting will start...
  • UN protectorate in Gaza is not a solution, says Guterres

    The UN chief said it was "important to be able to transform this tragedy into an opportunity" -- which, for him, meant moving "in a determined and irreversible way to a two-state solution." This means, after the current conflict ends, "a strengthened Palestinian Authority, assuming responsibilities in Gaza," he said.