Egypt News — AKHBAR.COM

Minister of Petroleum and Mineral Resources Karim Badawi said increasing local production and securing supplies of petroleum products are top priorities, stressing the role of the Egyptian General Petroleum Corporation (EGPC) in efficiently managing the supply system through integration among its sectors, monitoring the performance of companies, and maximising the use of existing production. Badawi…

Egypt is positioning its startup ecosystem to capture new opportunities created by artificial intelligence, with a growing focus on helping companies turn AI capabilities into products that solve real-world problems and can scale globally, said Eng. Ahmed Elzaher, CEO of the Information Technology Industry Development Agency (ITIDA), at the opening of Techne Summit Alexandria 2026.…

Tatweer Misr and IGY Marinas have signed a strategic agreement appointing IGY Marinas as operator of IL Monte Galala Marina, part of Tatweer Misr’s IL Monte Galala development on the Red Sea coast near Ain Sokhna. The agreement was signed on 24 September at the Monaco Yacht Show by Dr Ahmed Shalaby, co-founder, president and…

Egypt has officially debuted its first locally manufactured industrial robot, a key milestone in the country’s push to shift from importing technology to building automated factory systems at home. Developed by local startup Raed Bots in partnership with Egypt’s Industrial Modernization Center, the robotic arm boasts an 80 percent local component ratio—a figure developers plan…

Management of the subsidized fertilizer system in five governorates has been handed over to the Future of Egypt for Sustainable Development Authority, paving way for the authority to take over the system nationwide starting in October and changing the way that farming is organized in the country, an official in the cooperatives sector of the…

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…

Ahmed Rostom, Minister of Planning and Economic Development, said the government is continuing structural reform efforts outlined in the State Ownership Policy Document and the government IPO programme to create greater space for the private sector to lead economic growth. He added that the government is expanding innovative long-term financing tools, diversifying funding sources, and…

By Mohamed Attia Chairman of the Egyptian Holding Company for Airports and Air Navigation Ayman Fawzy Arab represented the African continent at the Airports Council International (ACI) World Governing Board meeting during the ACI-LAC/World Annual General Assembly, Conference, and Exhibition (WAGA 2026) in Lima, Peru. Serving as Regional Advisor to ACI, Engineer Arab joined airport…

The effects of the Iran war are obvious to most Americans: Gas prices have been hovering above $4 for weeks, mortgage rates are rising toward seven percent and companies are adding shipping surcharges to make up for record diesel costs. Those cost-of-living increases have lasted longer than the Trump administration had claimed they would, although…

For Egyptian officials, the singling out of Banque Misr UAE in American sanctions was shocking, even if there are multiple rationales through which the move could be read. The announcement of sanctions that came on Friday was the latest move in America’s new strategy to suffocate Iran. In mid August, United States President Donald Trump…

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…

Ahmed Kouchouk, Minister of Finance, held a meeting with Mohamed Abdel Latif, Minister of Education and Technical Education, to discuss a number of issues related to improving teachers’ financial conditions. The two ministers affirmed their continued efforts to approve an increase in teachers’ salaries for the next academic year, with the aim of improving their…

By Mohamed Attia Speaking at the “Al-Ahram Egyptian Tourism Forum” held at the National Museum of Egyptian Civilisation, Minister of Civil Aviation Sameh El-Hefny emphasised that developing the Egyptian tourism product requires comprehensive integration across aviation, tourism, transport, services, and marketing. This alignment aims to transform the diversity of Egypt’s destinations and products into marketable…

New York — Nvidia announced on Thursday that it will buy artificial intelligence startup Hugging Face for $12.9 billion, a massive bet by the chipmaker to expand the reach of open-source AI technology. Hugging Face, a service for hosting and accessing open-source AI models and data sets, has been in the spotlight recently after it…

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…

Egyptian President Abdel Fattah Al-Sisi on Saturday called for greater trade and investment among African countries and a stronger private-sector role in continental integration, saying intra-African trade accounted for only about 18% of the continent’s total trade, as Nigeria’s Dangote Group expressed interest in investing in Egypt’s energy, fertiliser, chemicals, and cement sectors. Al-Sisi made…

By Mohamed Attia Egyptian Airports Company has started preparations, in co-operation with Air Cairo, to transform Hurghada International Airport into a hub airport. Chairman and CEO of the Egyptian Airports Company, Captain Wael el-Nashar, conducted an inspection tour of Hurghada International Airport accompanied by Hussein Sherif, Chairman of Air Cairo, to review the airport’s preparations…

New York — Nvidia’s earnings beat expectations and its revenue doubled from a year ago, but it was the potential for future growth that excited investors. The chipmaker has seen soaring revenue sitting at the head of the AI boom. The company earned $96.2 billion in the most recent quarter, a 106 percent rise from…

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…

The Embassy of India in Cairo, in association with the Egyptian Syndicate of Engineers, Federation of Egyptian Industries (FEI), and Engineering Export Promotion Council of India (EEPC India), organised a special webinar on engineering goods on 30 September 2026, bringing together Indian and Egyptian engineering companies, industry representatives, consultants, and other stakeholders to explore opportunities…

By Mohamed Attia EgyptAir Maintenance obtains ISO 27001 certification in information security. Chairman and CEO of EgyptAir Holding Company, Ahmed Adel, congratulated the employees of EgyptAir Maintenance & Engineering Company for their outstanding efforts, which contributed to successfully passing the audit conducted by TNV System Certification Pvt. Ltd., the certification body that granted the company…

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…

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…

The Financial Regulatory Authority (FRA) has approved the licensing of the Distressed Factories Restructuring Investment Fund under Licence No. 1033, with subscription for its units set to open on Sunday, 4 October. Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), and Khaled Hashem, Minister of Industry, announced last Thursday the launch of the…

By Mohamed Attia Chairman of the EgyptAir Holding Company, Ahmed Adel, met with Olivia Toderean, Ambassador of Romania to Egypt, and a delegation from TAROM, Romania’s national airline, to discuss ways to strengthen co-operation and explore new partnership opportunities between the two sides. The TAROM delegation included Florian Triel, Executive Director of TAROM, and Remo…

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…

Mostafa Sheikhoun, Chairperson of the Suez Canal Economic Zone (SCZONE), received Eric Gaudiosi, Deputy Chief of Mission at the US Embassy in Cairo, and his accompanying delegation to discuss ways to strengthen economic and investment cooperation between the two sides and review investment opportunities available within the SCZONE, with the aim of expanding engagement with…

Mohamed Attia Egypt’s regional airports recorded continued growth in passenger traffic during August and September 2026, handling 5.11 million passengers compared with 4.88 million during the same period in 2025, an increase of 235,218 passengers, or 4.8 per cent. The figures support the North African country’s efforts to strengthen its position as a leading global…

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…

Mostafa Hassan, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), said the agency is working to strengthen its mechanisms as a key catalyst for the growth and development of the enterprise sector during the coming period by providing an integrated package of financing, technical support, youth training, and capacity-building programmes to help…

Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, said Africa has significant potential to build an integrated automotive industry and strengthen its position in global value chains. Farid made the remarks while opening the Focus Africa Automotive Investment Forum in New Alamein on Friday, as part of the Alamein Africa Forum. The event was…

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…

Arab African International Bank (AAIB) has expanded its employee training framework over the past three years to prepare more than 3,000 staff members for future leadership roles and develop the next generation of CEOs, the bank said. The bank recently marked the graduation of members of its senior management team from Harvard Business School’s Senior…

Big 5 Global, the most influential industry event for construction and urban development in the Middle East, Africa and South Asia (MEASA), returns to Dubai World Trade Centre from 23 – 26 November 2026, supported by the UAE Ministry of Energy and Infrastructure, the UAE Ministry of Economy & Tourism and Dubai Civil Defense. Marking…

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…

Egypt is targeting an increase in the mining sector’s contribution to gross domestic product (GDP) to around 6% in the coming period as the government seeks to attract more investment, expand exploration and production, and increase the local value added of mineral resources. The target was announced by Minister of Petroleum and Mineral Resources Karim…

By Mohamed Attia The Egyptian Holding Company for Airports and Air Navigation signed two co-operation memoranda with ACI Africa, the Airports Council International – Africa Region, and Mozambique Airports, on the sidelines of the 35th ACI Africa Annual General Assembly, Regional Conference and Exhibition, held in Abuja, Nigeria. During the event, Chairman of the Egyptian…

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…

Minister of Investment and Foreign Trade Mohamed Farid opened the 2026 Egypt-France Business Forum on Monday at the Luxembourg Palace in Paris, home of the French Senate, with more than 200 Egyptian and French companies and institutions participating alongside French officials and representatives of the business, investment, and financial communities. Farid said the forum comes…

By Mohamed Attia Sphinx International Airport has earned first place and the prestigious Governance award at the ACI Africa Excellence Awards. This honour recognises the airport’s exceptional standards in managing passenger services, maintaining smooth operations, and ensuring top-level readiness. The achievement highlights the ongoing efforts of the Egyptian Airports Company (EAC), under the leadership of…

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…

Finance Minister Ahmed Kouchouk said concessional financing is being provided to companies through the Micro, Small and Medium Enterprise Development Agency (MSMEDA), stressing that the ministry’s role is to support economic activity and stimulate growth while maintaining fiscal stability. He said EGP 80bn has been allocated in the current budget to programmes supporting and stimulating…

By Mohamed Attia Egypt’s civil aviation sector is experiencing a major transformation, moving past recent losses caused by political events and the Covid-19 pandemic to achieve strong economic growth and profitability. The sector’s turnaround was highlighted by national carrier EgyptAir winning the “World’s Most Improved Airline” award for 2026 from the global ranking agency Skytrax.…

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…

The General Authority for the Suez Canal Economic Zone (SCZone) has signed a contract worth over EGP 1bn with Nafeza Egypt Logistics Services to develop and operate a digitally managed truck yard at Sokhna Port. The signing ceremony was witnessed by Mostafa Sheikhoon, Chairperson of the SCZone. The agreement was officially signed by Ahmed Gamal,…

By Mohamed Attia Advisor to the Chairman of the Egyptian Civil Aviation Authority (CAA) and Director General of International Agreements, Karim Gamil, stressed the importance of having regulatory authorities rely on the findings of technical and economic feasibility studies and market indicators when developing and implementing Sustainable Aviation Fuel (SAF) policies. He said the transition…

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…

Egypt is developing a new operating model for The Sovereign Fund of Egypt (TSFE)) and its subsidiary funds to expand partnerships with the private sector and mobilise investment in priority sectors, Investment and Foreign Trade Minister Mohamed Farid said. Farid said the funds could take minority stakes of between 10% and 20% in selected investments…