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Business - Economy
1/14/2024 1:54:04 PM
The Egyptian government is expected to increase the minimum wage for government employees and pensions – currently stand at EGP 4,000 and EGP 1,300, respectively – within two months, Samir Sabry, Rapporteur of the Investment Committee at the National Dialogue, said on Saturday.

Business - Economy
1/13/2024 7:28:38 PM
The Egyptian government is preparing to introduce a social protection package that encompasses various improvements, including wage and pension adjustments and an increase in the tax exemption threshold, said Minister of Finance Mohamed Maait, according to a Cabinet statement on Saturday.

Business - Economy
1/13/2024 12:56:34 PM
ADQ, an Abu Dhabi-based investment and holding company, and ADNEC Group signed on Friday definitive agreements for the strategic acquisition, through a capital increase, of a 40.5 percent stake in the leading Egyptian real estate developer Talaat Mostafa Group's hotel arm, ICON.

Business - Economy
1/11/2024 10:43:56 PM
Gold prices surged 15 percent year-on-year (YoY) to $2,078 per ounce in 2023, its all-time-high, supported by the increased demand by central banks and the geopolitical risks that benefit a haven like gold, according to a report by the World Gold Council (WGC).

Business - Economy
1/11/2024 5:03:17 PM
Egypt's zero-customs car import initiative has seen an influx in demand in the first two months of its second phase. Registration applications increased over three-fold compared to the same period in the initial phase, Finance Minister Mohamed Maait stated on Thursday.

Business - Markets & Companies
1/10/2024 4:09:28 PM
The Egyptian Exchange closed on Wednesday with a mixed performance, with a decline of 0.48 percent in the main index and a slight increase in the market cap, gaining EGP 5 billion. Meanwhile, gold prices dropped significantly.

Egypt - Society
1/10/2024 3:51:58 PM
Egypt's northern regions, including Alexandria and Kafr El-Sheikh governorates, are seeing a mix of medium to light rainfall and increased wind activity, Egypt’s Meteorological Authority (EMA) reported on Wednesday.

Business - Economy
1/9/2024 5:40:14 PM
Pakistan seeks to increase trade exchange with Egypt by tenfold in the coming few years, said Gohar Ejaz, Pakistani Federal Minister for Industries and Commerce.

Business - Markets & Companies
1/9/2024 3:41:08 PM
The Egyptian Exchange ended Tuesday in green with slight increases and the market cap gained EGP 18 billion.

Business - Economy
1/9/2024 1:34:19 PM
President Abdel-Fattah El-Sisi has instructed the government to increase spending on improving Egyptians’ quality of life in the upcoming fiscal year 2024/2025, which starts on 1 July, Minister of Finance Mohamed Maait stated on Tuesday.

Business - Economy
1/8/2024 2:52:30 PM
The Central Bank of Egypt (CBE) is set to launch the electronic pound by 2030 to increase the efficiency of monetary policy, read a government document released in January.

Business - Economy
1/8/2024 2:13:11 PM
Egypt plans to increase its annual foreign currency revenue from exports, tourism, remittances, foreign direct investments (FDIs), the Suez Canal, and outsourcing services to $300 billion in 2030 from around $100 billion, according to a government document released this month.

Business - Economy
1/7/2024 6:51:40 PM
Egypt’s wheat imports increased by over 14.5 percent to 11 million tons in 2023 compared to 9.6 million tons in 2022, Deputy Minister of Supply and Internal Trade Ibrahim Ashmawy said on Saturday.

War on Gaza - War on Gaza
1/5/2024 8:55:00 PM
US Secretary of State Antony Blinken headed back to the Middle East in his fourth trip to the region since the Gaza war began on 7 October. The chances of a regional war have increased with Israel determining to strike Hamas resistance leaders no matter where they are. Meanwhile, Hamas, Hezbollah, the Houthis, and pro-Iran groups have been stepping up attacks on US-Israel interests.

Business - Economy
1/4/2024 7:27:20 PM
Egypt’s Net International Reserves increased by $47 million to record $35.22 billion in December, its highest level since May 2022, according to data released by the Central Bank of Egypt on Thursday.

AFCON 2023 - Features
1/4/2024 5:28:09 PM
The Confederation of African Football (CAF) announced a 40 percent increase in the prize money for the Africa Cup of Nations (AFCON), according to an official statement on Thursday.

Egypt - Society
1/3/2024 8:30:55 PM
Egypt’s Ministry of Electricity and Renewable Energy announced an increase in electricity prices for both residential and commercial use, ranging from seven to 20 percent across various usage categories, according to an official statement on Tuesday.

Business - Tech
1/2/2024 2:17:11 PM
Telecom Egypt announced an increase in the prices of its landline internet plans by over 30 percent, with the new rates set to take effect from 5 January, according to the company’s website.

Egypt - Urban & Transport
1/2/2024 2:14:53 PM
The number of passengers traveling through Egypt’s airports soared to nearly 47 million in 2023, a 28 percent increase compared to the previous year, according to a statement issued by the Egyptian Civil Aviation Ministry.

Egypt - Urban & Transport
1/2/2024 12:55:47 PM
Flagship carrier EgyptAir carried 2.8 million passengers in the first quarter of the fiscal year 2023/2024, a six percent increase over 2.6 million in the same quarter of the previous FY, according to press remarks by the Minister of Civil Aviation Mohamed Abbas Helmy on Tuesday.

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