Business - Economy

CBE announces bank holidays in Egypt for Hijri New Year, 30 June Revolution anniversary

The Central Bank of Egypt (CBE) announced Sunday that all banks will be closed on Thursday, 26 June, for the Hijri New Year and on 3 July for the 30 June Revolution anniversary.

President El-Sisi reviews outcomes of 1st tax facilities initiative

President Abdel-Fattah El-Sisi reviewed the outcomes of the first tax facilities initiative, which saw the submission of 110,000 voluntary tax dispute requests and over 450,000 new or amended tax returns, resulting in additional taxes totaling EGP 54.76 billion as of 19 June 2025.

Egyptian pound faces short-term pressure but steadies by 2025-end: Fitch’s BMI

The Egyptian pound is expected to remain under pressure in the near term, but Fitch Solutions’ research arm, BMI, sees a slightly improved outlook for the currency by the end of 2025, despite ongoing global uncertainties.

Egypt’s tax reform drive boosts revenues by over third

Egypt’s tax revenues have surged by 36 percent over the past year, Finance Minister Ahmed Kouchouk announced on Saturday.

The First of its Kind Collaboration with Imperial College London in the Region

Wicked Acceleration Labs Launches Egypt’s First Industrial Wastewater Treatment Innovation Program

Canada will 'adjust' counter tariffs on US metals if no deal in 30 days: Carney

Canada will "adjust" its 25 percent counter tariffs on US steel and aluminum in response to a doubling of US levies if a bilateral trade deal is not reached within 30 days, Prime Minister Mark Carney said Thursday.

Egypt response as industry feels the heat over Israel-Iran escalation

As the conflict flares between Iran and Israel, the shockwaves are being felt far beyond the battlefield, reaching deep into Egypt’s industrial heartland.

CBE issues regulations for payment system operators, service providers

The Central Bank of Egypt (CBE) has issued new rules for the licensing and registration of payment system operators (PSOs) and payment service providers (PSPs), in accordance with the provisions of Law No. 194 of 2020 regulating the CBE and the banking system, the bank announced in a statement on Thursday.

SPIEF discusses promising sectors for Russian-Arab cooperation

The first day of the St. Petersburg Economic Forum featured a special session that discussed practical experiences and expertise on how Russian businesses can succeed in the Arab world and Africa.

Egypt ranks 9th globally among top FDI recipient countries in 2024

Egypt ranked ninth globally in foreign direct investment (FDI) attraction in 2024, receiving $47 billion in investments, a significant leap from 32nd place in 2023, when it received $10 billion, a joint statement by the Ministries of Planning and Investment said Thursday.

Stocks drop, oil gains as Mideast unrest fuels inflation fears

Major stock markets mostly fell and oil prices rose Thursday as the Israel-Iran conflict added to fears over a renewed spike to inflation.

US Fed keeps interest rates unchanged in face of Trump criticism

The US Federal Reserve held interest rates steady for a fourth consecutive meeting Wednesday, forecasting higher inflation and cooler growth this year as President Donald Trump's tariffs begin to take hold and geopolitical uncertainty swirls.

IMF close to completing 5th review of Egypt's EFF loan programme

Egypt is approaching the final stages of talks with the International Monetary Fund (IMF) to complete the fifth review under its $8 billion Extended Fund Facility (EFF) agreement, according to sources.

European Parliament greenlights another €4 bln for Egypt

The European Parliament approved on Wednesday granting Egypt a 4 billion euro second tranche of the European Union's macro-financial assistance package, according to a statement by the Ministry of Foreign Affairs.

Landmark arrivals cement Egypt Sokhna Port’s role in global trade: DP World

DP World Egypt has reinforced Ain Sokhna Port’s role as a linchpin in Egypt’s economic, industrial, and tourism ambitions, with three landmark maritime operations underscoring the port’s growing strategic relevance across sectors, the company said in a statement on Wednesday.

SCZone inks $18 mln deal with Turkish company to establish spinning factory

The Suez Canal Economic Zone (SCZone) has signed a $18m agreement with the Turkish company Ulusoy Tekstil San. Tic. A.Ş to build a yarn and spinning factory in the Qantara West Industrial Zone.

Egypt targets 4.5% growth amid regional uncertainty, boosts public investment to EGP 1.15 tln

Egypt’s parliament has approved the national budget for fiscal year 2025/26, which begins on 1 July. The budget sets a real GDP growth target of 4.5 percent, nearly double the 2.4 percent growth recorded in FY2023/24.

FDIs in emerging markets, developing economies fall to lowest levels since 2005: WB

Foreign direct investment (FDI) inflows to emerging markets and developing economies (EMDEs) have steadily weakened since the 2008 global financial crisis, both in nominal terms and as a share of GDP, the World Bank (WB) announced on Monday.

INTERVIEW - IFC committed to supporting Egypt transition to private-sector-led economy: Makhtar Diop

Ahram Online has exclusively interviewed Makhtar Diop, managing director of the International Finance Corporation (IFC), during his visit to Egypt to explore how the corporation is partnering with Egypt to drive investment, enhance connectivity, and unlock the full potential of key sectors, from aviation and tourism to renewable energy and MSMEs.

Arab Organization for Industrialization, Stellantis sign exclusive deal to produce 240,000 cars in Egypt

President Abdel-Fattah El-Sisi was briefed Monday on an exclusive partnership between the Arab Organization for Industrialization (AOI) and Stellantis Group to produce 240,000 cars of a model that will not be manufactured in any of the group's other global facilities.

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