Egypt News — AKHBAR.COM

Egypt is quietly ramping up its investment in energy storage, driven by a clear ambition to grow renewable power, harden the national grid against disruption, and keep electricity flowing reliably as it pushes forward with its energy transition. Last week, Electricity and Renewable Energy Minister Mahmoud Essmat sat down with a delegation from Cairo-based renewable…

The Central Bank of Egypt’s (CBE) Monetary Policy Committee will hold its fifth meeting of the year on Thursday to decide on its key interest rates, a major indicator of the near-term direction of interest rates on the Egyptian pound, amid strong expectations that rates will remain unchanged for a fourth consecutive meeting. The committee…

Egypt took a significant step in its bid to dominate Red Sea and Mediterranean trade routes on Friday, taking delivery of two massive 82,000-ton dry bulk carriers from China’s New Hantong Shipyard. The vessels—named the Wadi El-Nile and Wadi El-Qamar—were officially handed over to Egypt’s National Navigation Company (NNC) during a ceremony in China attended…

The Central Bank of Egypt (CBE) announced that its net international foreign exchange reserves rose to $56.30 billion at the end of July. This increase reflects the ongoing improvement in the country’s foreign liquidity position and strengthens the Egyptian economy’s ability to fulfill its international obligations. Official data released by the CBE revealed a monthly…

The country’s rate-cut cycle faces a statistical test, not necessarily a real one Egypt’s disinflation story hit its first real snag in four months on August 10, when the Central Agency for Public Mobilisation and Statistics (CAPMAS) reported that annual urban inflation climbed to 14.9% in July, up from 14.3% in June and ending a…

Planning and Economic Development Minister Ahmed Rostom met National Media Authority (NMA) Chairperson Ahmed El-Mesallamy to discuss joint efforts to resolve financial entanglements and settle longstanding debts owed by the authority to the National Investment Bank (NIB). The meeting was attended by Kamal Nasr, assistant minister for technical office affairs and supervisor of the minister’s…

Which is worth more: a company that’s sitting out Big Tech’s mega AI spending spree or a company that’s fueling it? That’s the question Wall Street has been grappling with as Apple and Nvidia traded off for the title of world’s most valuable company. Apple snagged the title earlier this week, but Nvidia took it…

Artificial intelligence (AI) and digital transformation are taking the center stage in Cairo International Airport’s new Terminal IV project, designed to deliver a smart, highly efficient passenger experience. During a meeting led by Prime Minister Mostafa Madbouly in New Alamein City to review the project’s progress, Civil Aviation Minister Sameh al-Hefny highlighted that Terminal IV…

The Ministry of Finance is hard at work to simplify concepts and procedures to unify customs transactions and facilitate investors,Minister Ahmed Kouchouk said on Sunday. He also highlighted the goal of raising customs awareness among employees and businesses as part of a comprehensive institutional reform vision. Kouchouk confirmed the issuance of 17 updated reference guides…

The National Investment Bank (NIB) announced a significant financial turnaround, recording a net profit of EGP 6bn in the 2024/25 financial year, compared with losses of EGP 31.7bn in the previous year, marking a strong recovery in the bank’s financial position. Planning and Economic Development Minister Ahmed Rostom, who also chairs the bank’s board of…

OMODA and JAECOO partnership reflects accelerating Chinese investment in Egypt’s automotive industry as the country seeks to expand local production and vehicle exports. Egypt’s drive to establish itself as a regional automotive manufacturing hub gained further momentum after Ezz Elarab Elsewedy Investments (ESI) signed a strategic partnership with OMODA and JAECOO, two international brands of…

By Mohamed Attia Khaled Atwa, Chairman of EgyptAir Ground Services Company, thanked the company’s employees after the Cairo station successfully completed the audit for the renewal of its IATA Safety Audit for Ground Operations (ISAGO) accreditation, with no findings reported. Atwa said the achievement adds to the company’s record and reflects the efficiency, discipline and…

Investment and Foreign Trade Minister Mohamed Farid said company incorporation indicators reflected significant growth in investment activity, with around 26,000 new companies established between January and June 2026, up 20% compared with the same period last year, while issued capital reached around EGP 97.5bn. Farid said Nile Delta governorates accounted for around 50% of all…

Domestic institutions support the benchmark as the EGX70 pauses after three sessions of sharp gains and market capitalisation rises to EGP 4.093 tn CAIRO — Egyptian equities ended mostly higher on Wednesday as buying shifted towards larger and lower-volatility companies, while small-cap shares paused after leading the market’s sharp advance during the opening sessions of…

By Mohamed Attia The Ministry of Civil Aviation has stepped up preparations for the second edition of the El Alamein International Air and Space Exhibition (EIAS 2026), which will be held from September 8 to 10 at Alamein International Airport in New Alamein City. Civil Aviation Minister Sameh el-Hefny said the event will provide an…

Al Salem Holding plans to expand its investment portfolio in Egypt from more than EGP 15bn currently to EGP 50bn over the next five years, representing a 234% increase, Chairperson Bahaa Salem said. The announcement was made during a media site visit to the group’s Blue Side Hub at Marina 5 on the North Coast,…

Prime Minister Mostafa Madbouly reviewed a proposal to establish two integrated medical cities in the New Capital and New Alamein City as the government moves forward with plans to develop large-scale healthcare projects backed by foreign investment. The meeting was attended by Minister of Health and Population Khaled Abdel Ghaffar, Minister of Housing, Utilities and…

Industrialisation is both a means and an objective for sustainable development in a country that is redrawing its socioeconomic priorities and making headway in its economic reform programme. As tariffs reshape global supply chains, Cairo is betting industrialisation can close a widening trade gap, but the rules of the new trade war are shifting faster…

Petroleum and Mineral Resources Minister Karim Badawi stressed the importance of deploying the latest technologies and techniques in drilling and exploration to improve success rates and maximise the utilisation of gas resources, praising Pharaonic Petroleum Company’s exploration and field development plans. Badawi made the remarks during a visit to Pharaonic Petroleum’s production site in Port…

For decades, vaccines in Egypt were primarily viewed through the lens of public health. Today, they are increasingly being seen as strategic industrial assets. As global supply chains become more fragmented and countries seek greater resilience in essential medicines, Egypt is pursuing an ambitious strategy to transform vaccine manufacturing from a domestic healthcare necessity into…

By Mohamed Attia Egypt and Chad have moved to significantly expand air transport links, with plans to double passenger capacity and increase cargo capacity by 125 per cent between the two countries. The agreement was reached through a memorandum of understanding signed by Egypt’s Civil Aviation Authority and its Chadian counterpart during the Egypt-Chad Business…

Finance Minister Ahmed Kouchouk said the government is working to simplify customs concepts and procedures to ensure consistent customs practices and facilitate processes for investors, as part of an integrated institutional reform strategy aimed at improving customs awareness among employees and investors. Kouchouk said in a statement on Sunday that 17 updated guidance manuals have…

EgyptAir resumed flights to Sudan on Wednesday, with its first flight landing at Port Sudan International Airport after operations had been suspended since May 2025, Anadolu reports. Sudan Airports Company said in a statement that Port Sudan International Airport had received EgyptAir’s first flight, marking the resumption of the direct route between Cairo and Port…

By Mohamed Attia Air Cairo is serving as the official airline and sponsor of EGY Health 2026, as part of its national role in supporting international events hosted by Egypt and reinforcing the country’s position as a regional hub for healthcare and conference tourism. Hussein Sherif, Chairman and CEO of Air Cairo, said the company’s…

The Industrial Development Authority (IDA) has continued its nationwide campaign to reclaim unutilized industrial land, carrying out field inspections and withdrawal procedures in the industrial zones of New Beni Suef and Al-Matahara in Minya. The campaign is being implemented in coordination with governorates, city authorities, and relevant government bodies as part of a broader plan…

Egypt’s Minister of Industry, Khaled Hashem, has issued Ministerial Decree No. 171 of 2026, amending provisions of Decree No. 107 of 2026 to introduce a new package of incentives aimed at removing obstacles facing serious industrial investors, accelerating production, and improving the management of industrial land. The amendments abolish the previous requirement for factories to…

By Mohamed Attia EgyptAir Training Academy has successfully passed the periodic audit conducted by Société Générale de Surveillance (SGS), resulting in the renewal of its certifications for quality management, educational organisations, environmental management, and occupational health and safety systems. The renewed certifications include ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, and ISO 21001:2018. SGS…

The joint coordinating committee established by the Financial Regulatory Authority (FRA), the Egyptian Exchange (EGX) and the Egyptian Tax Authority (ETA) has held its inaugural meeting, marking the official launch of its work. The meeting was attended by Islam Azzam, Chairperson of the FRA, who stressed the importance of developing the tax framework governing the…

Egypt’s Minister of Industry, Khaled Hashem, has discussed executive steps to increase local content in the automotive industry and manufacture vehicle bodies entirely in Egypt during an expanded meeting with the Presidential Advisory Council of Egyptian Scientists and representatives of automotive manufacturers and component suppliers. The meeting reviewed an automotive development study prepared by the…

By Mohamed Attia Egypt is moving forward with plans to build Terminal 4 at Cairo International Airport, a major project designed to strengthen the country’s position as a main travel and business hub connecting Africa, Asia, and Europe. Managed by the Ministry of Civil Aviation, the project will be self-financed by the state holding company…

Minister of Agriculture and Land Reclamation Alaa Farouk met with an expanded delegation of leading Turkish businessmen and investors as part of a high-level Turkish delegation’s visit to Egypt, headed by the Deputy Minister of Agriculture and Forestry. The meeting came in line with the directives of President Abdel Fattah Al-Sisi to strengthen economic cooperation,…

The Central Bank of Egypt (CBE) has launched the preparatory process for developing a Sustainable Finance Taxonomy, forming an inter-ministerial technical working group to support the national drive toward sustainable finance and align Egypt’s financial sector with international best practices. The taxonomy aims to establish a unified framework for classifying sustainable economic activities and providing…

Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid Saleh, held high‑level talks with Brazilian and Chinese officials during the 16th BRICS Trade Ministers’ Meeting in Jaipur, India, as Cairo seeks to expand its global trade footprint and attract new investment. In a bilateral meeting with Brazil’s Minister of Development, Industry, Trade and Services Marcio…

Finance Minister Ahmed Kouchouk said the government is allocating EGP 6bn for the third tranche of the lump-sum export subsidy dues payment for shipments made before 1 July 2024. Kouchouk said applications from exporting companies wishing to benefit from the third tranche of the initiative will be accepted from 16 August until 1 October, with…

Prime Minister Mostafa Madbouly met on Wednesday with Mostafa Ismail, Chief Executive Officer of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), to review the agency’s strategic vision and action plan for the coming period. Madbouly stressed the pivotal role MSMEDA plays in advancing the state’s objectives of supporting micro, small and medium-sized enterprises…

Egypt has launched a nationwide push to turn thousands of local manufacturers into exporters, marking a clear change in how the government plans to grow and diversify the country’s export base. The “Egypt Takes Off Through Exports” programme was unveiled last week by Investment and Foreign Trade Minister Mohamed Farid during a visit to Tanta.…

Egypt’s annual urban inflation rate accelerated to 14.9% in July, up from 14.3% in June, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). In a statement issued on Monday, CAPMAS said annual headline inflation for the country as a whole reached 13% in July, compared with 12.2% in June. The general consumer…

The ministers of water resources and irrigation, industry, and military production have held an expanded meeting to develop an integrated framework for sustainable water management in Egypt’s industrial sector, with a focus on improving water-use efficiency and localising technologies for industrial wastewater treatment and recycling. Minister of Water Resources and Irrigation Hany Sewilam said the…

By Mohamed Attia During the 11th edition of ICAO African-Indian Ocean (AFI) Aviation Week, Captain Karim Gamil, Adviser to the President of the Egyptian Civil Aviation Authority and Director General of International Agreements, presented Egypt’s experience in supporting African countries’ readiness to meet relevant international requirements. He outlined Egypt’s approach, which focuses on strengthening regulatory…

Sherif Fathy, Minister of Tourism and Antiquities, and Ahmed Rostom, Minister of Planning and Economic Development, held a coordination meeting to discuss strengthening cooperation between their ministries, with a focus on improving the measurement and presentation of the tourism sector’s contribution to Egypt’s national economy. A key focus of the meeting was enhancing mechanisms for…

Gypto Pharma signs a strategic agreement with Bacha Group as Egypt seeks to strengthen pharmaceutical exports and regional healthcare supply chains across Africa. Egypt has taken another step in its strategy to expand pharmaceutical exports across Africa after Gypto Pharma City signed a memorandum of understanding (MoU) with Djibouti-based Bacha Group to strengthen regional pharmaceutical…

By Mohamed Attia Nile Air participated in the 11th edition of ICAO Africa-Indian Ocean (AFI) Aviation Week 2026, organised by the International Civil Aviation Organisation (ICAO) and hosted by Egypt for the first time. The airline took part through a dedicated exhibition stand. During the event, Nile Air showcased its services, route network, and future…

Planning and Economic Development Minister Ahmed Rostom met with Petroleum and Mineral Resources Minister Karim Badawi to discuss the future strategy for Egypt’s petroleum and energy sector as the government begins implementing its FY2026/27 economic and social development plan and intensifies efforts to strengthen the country’s energy security. Rostom praised the government’s efforts to boost…

Ahmed Kamel – Egypt Daily News Egypt News The Central Bank of Egypt officially announced that the nation’s net international reserves experienced an immediate expansion, climbing to 56.293 billion dollars at the conclusion of July 2026. Monetary tracking sheets released on Wednesday show a substantial 1.221-billion-dollar monthly surge compared to the 55.072 billion dollars recorded…

As Switzerland celebrates its National Day, Holcim Egypt marks a new chapter in its journey following the official transition from Lafarge Egypt to Holcim Egypt. As a member of Holcim Group, the company continues to build on a legacy of innovation, sustainability, and engineering excellence while reinforcing its long-term commitment to Egypt’s development. Backed by…

Egypt’s financial inclusion rate continued to rise, reaching 79% in June 2026, with 56.4 million citizens owning active accounts that enable them to perform financial transactions, out of a total of 71.4 million citizens aged 15 and above. The progress reflects the sustained efforts of the Central Bank of Egypt (CBE) and the wider financial…

Minister of Planning and Economic Development Ahmed Rostom said that Egypt’s continued investment in ports and logistics is supporting economic growth, improving trade infrastructure and increasing the competitiveness of Egyptian exports. In his remarks during a visit to Rashid Port in Beheira Governorate, Rostom said that the project is part of the government’s strategy to…

Diamond Motors–Mitsubishi Motors Egypt has partnered with automotive marketplace Eltawkeel.com, making Mitsubishi’s new vehicle lineup available for online purchase through the platform as part of efforts to expand digital sales channels in the Egyptian market. The partnership allows customers to browse Mitsubishi models available in Egypt, compare different trims, review official specifications and prices, and…