Opinion | Egypt’s Strategic Dilemma: Sovereignty, Diversification, and the $7.5bn Offer
The recent offer from the United States—$7.5bn in military modernization aid in exchange for guaranteed free passage through the Suez Canal—has placed Egypt at a crossroads. This proposal comes amid…
11 new wells to produce 160 billion cubic feet of natural gas: Petroleum Ministry
The Ministry of Petroleum and Mineral Resources has launched an integrated programme to drill 11 new wells, expected to yield approximately 160 billion cubic feet of natural gas. The project…
CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan
The Commercial International Bank (CIB) Egypt has signed a mid-term financing agreement worth EGP 963m with OSL for Entertainment Projects (OSL), a subsidiary of Orascom Investment Holding, to support the…
CBE instructs banks to support exporters in meeting global environmental standards
The Central Bank of Egypt (CBE) has issued a directive requiring banks to support their exporting clients in meeting global environmental and sustainability standards during the production of goods intended…
Egyptalum signs agreement with Scatec to develop solar power plant in Nagaa Hammadi
Minister of Public Enterprises Sector Mohamed Shimi met with Norway’s Ambassador to Egypt and Libya, Hilde Klemetsdal, and her accompanying delegation at the ministry’s headquarters in the New Administrative Capital,…
Egypt urges auto manufacturers to boost local value-added under revised industry programme
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, held on Monday an extensive meeting with automotive manufacturers operating in Egypt to review recent amendments…
NDB expands to 11 members, raises $16.1bn in 2024, says Rousseff
The New Development Bank (NDB) has approved Colombia and Uzbekistan as new members, its president Dilma Rousseff said, as the lender focuses on expanding its membership and increasing financing in…
Egypt calls for stronger central bank cooperation, local currency use at BRICS summit
Egypt called on BRICS nations to strengthen cooperation between their central banks and push forward with enabling financial settlements in local currencies, its prime minister said at a summit session…
BRICS summit declaration pushes for reformed multilateralism, greater Global South role
Leaders of the 11-nation BRICS group on Monday called for a more equitable global order and the strengthening of multilateralism, signing a joint declaration at a summit in Rio de…
Egypt’s PM, Uruguay’s president discuss Gaza, trade at BRICS summit
Egyptian Prime Minister Mostafa Madbouly and Uruguayan President Yamandú Orsi on Monday discussed efforts to secure a ceasefire in Gaza and ways to boost bilateral trade during a meeting on…