Egypt Today

UNCTAD: Egypt’s FDI inflows saw a decline of 13.7% in 2023, North Africa’s FDIs drop 12%

Thu, 27 Jun 2024 - 02:28 GMT

FDI outflows from Egypt saw a 14 percent increase year-on-year, totaling $390 million in 2023, as per the report

World Bank cites reduced Suez Canal traffic and tourism for 2.8% growth forecast for FY2023/2024

Wed, 12 Jun 2024 - 11:58 GMT

For the coming fiscal year, the WB affirmed its previous forecast, predicting a 4.2 percent growth rate for FY2024/2025, while estimating a slight bump for FY2025/2026 to 4.6 percent

Egypt faces Guinea Bissau in the 2026 World Cup African Qualifiers

Mon, 10 Jun 2024 - 08:00 GMT

The Egyptian national team, led by Hossam Hassan, is preparing to face Guinea-Bissau at the 24 de September Stadium in the city of Bissau, in the fourth round of the World Cup qualifiers.

Vodafone Egypt and Ericsson Adopted the World’s 1st Mobile Radio Equipment to Better Serve its Customers

Tue, 04 Jun 2024 - 02:05 GMT

Vodafone Egypt deployed a new triple-band Radio Unit reducing 4G/5G network rollout costs, implementation time, energy consumption, and tower load. This new Radio equipment from Ericsson is the world’s 1st triple-band radio unit able to combine 1800MHz, 2100MHz FDD, and 2600MHz TDD frequency bands operating in Egypt into one single Radio Unit. The adoption of this new product contributes to Vodafone commitment to building sustainable networks.

Egypt continues preparations for 2026 World Cup qualifiers

Tue, 04 Jun 2024 - 08:02 GMT

The Egyptian national football team, led by coach Hossam Hassan, continued their training sessions in preparation for the match between Burkina Faso and Guinea Bissau, scheduled for June 6 and 10, in the third and fourth rounds of the African qualifiers for the 2026 World Cup finals.

Egyptian Women in Golf Leadership Foundation Program

Fri, 31 May 2024 - 08:40 GMT

The R&A granted an opportunity to Miss Yara Abdelnasser, an employee of the Egyptian Golf Federation, marking a significant milestone for Egypt.

Bourse trading ends on a varied note with benchmark index inching into the green

Wed, 22 May 2024 - 04:37 GMT

Trading on securities saw Egyptian and Arab traders as net buyers with LE 26.63 million and LE 526.93 million, respectively. Foreign investors were net sellers with LE 553.56 million

Egypt acquires $38.8B in development financing bet. 2022-2023, MoIC

Wed, 22 May 2024 - 02:56 GMT

According to the ministry, $28.5 billion was allocated to various sectors while $10.3 billion has been channeled into the private sector, particularly focusing on initiatives related to climate action, development, and empowering the private sector

Mostafa Madbouly congratulates Zamalek on winning the CAF Confederation Cup

Wed, 22 May 2024 - 02:54 GMT

Dr. Mostafa Madbouly, Prime Minister, congratulated the Zamalek club, after winning the African Confederation Cup championship, for the second time in its history, at the expense of the Moroccan team, Nahdet Berkane, in the match that brought them together last Sunday, at Cairo Stadium.

EGX closes Tuesday trading in the red amid Egyptian and foreign buying

Tue, 21 May 2024 - 04:14 GMT

Trading on securities saw Egyptian and foreign investors as the net buyers with LE 134.45 million and LE 442.22 million, respectively.

“Cyber Talents” initiative to develop local cybersecurity talent pool, MCIT minister

Tue, 21 May 2024 - 03:03 GMT

Minister Amr Talaat revealed the initiative during his opening address at the Egypt International Summit for Digital Transformation and Cybersecurity (EISDTC)

Fitch Ratings revises outlook for 4 local banks to positive

Sun, 19 May 2024 - 12:31 GMT

Fitch Ratings upgraded its outlook for the National Bank of Egypt, Banque Misr, Banque du Caire, and the Commercial International Bank (CIB) to positive while maintaining their respective ratings at “B-”

BMI Research forecasts Egypt’s growth in FY2023/2024 at 3.2%

Thu, 16 May 2024 - 04:28 GMT

BMI Research, a subsidiary of Fitch Solutions, revised its forecast for Egypt’s growth in the current and coming fiscal years, displaying cautious optimism as it expects stronger growth in investment spending for FY2024/2025

EBRD forecast for Egypt's economic growth in 2024 slips by 0.6% in latest report

Thu, 16 May 2024 - 12:30 GMT

EBRD anticipates the economy to recover in 2025, expecting an uptick to 4.4 percent while forecasting a climb to 4 percent for the coming fiscal year

PM Madbouly reveals Egypt has received $14B from Ras El Hekma agreement with UAE

Wed, 15 May 2024 - 03:58 GMT

In an official statement, Madbouly also stated that Egypt is working with the UAE to waive an Emirati deposit of $6 billion in the Central Bank of Egypt (CBE) and convert it to Egyptian pounds

Egypt’s net foreign assets deficit narrows, reflecting impact of reforms and fresh foreign currency

Wed, 15 May 2024 - 12:23 GMT

The narrowing of the deficit reflects the surge in foreign currency reserves after the fresh inflows for FX from the Ras El Hekma deal and the depreciation of the Egyptian pound

Tuesday trading closes in the red zone as EGX loses LE 8M in market cap.

Tue, 14 May 2024 - 03:44 GMT

The Egyptian Exchange (EGX) fell into the red zone during Tuesday trading, losing around LE 8 million in market capitalization

Bourse trading sees mixed performance amid foreign buying

Mon, 13 May 2024 - 05:07 GMT

Trading on securities reported Egyptian and Arab traders as net sellers with LE 177.90 million and LE 48.24 million, respectively

Hisham Talaat Moustafa Tops Forbes’ Egypt Travel & Tourism Leaders List

Fri, 10 May 2024 - 04:26 GMT

Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group Holding (TMG Holding), has been named to Forbes Middle East magazine’s Top 100 Travel & Tourism Leaders in the Middle East for 2024. Moustafa, ranking 15th on the list, is the top Egyptian executive recognized.

Al Ahly smash Al Ittihad 4-1 in the Egyptian League

Wed, 08 May 2024 - 08:11 GMT

Al-Ahly continued their strong performances in the Egyptian league and achieved a great 4-1 victory