Hanan Mohamed

Egypt's 2023/24 in the spotlight

Sun, 20 Aug 2023 - 03:36 GMT

The new budget was finally approved by the Parliament with estimated value of uses at LE 4.349 trillion.

Egypt’s economy and IMF agreement amid exchange rate uncertainty

Tue, 15 Aug 2023 - 03:43 GMT

Egypt’s economic agreement with the IMF faces delays as the government seeks dollar liquidity and encounters challenges in meeting agreed requirements.

Egyptian pound devaluation expected amid inflation concerns, interest rates rise: Capital Economics

Sun, 13 Aug 2023 - 07:33 GMT

Capital Economics projects that the Egyptian pound will depreciate to 35 per dollar by the close of 2023, marking a 12 percent devaluation from its current rate of 30.95 per dollar.

Egypt poised for benefits as first mover in Sustainable Aviation Fuel Industry

Fri, 16 Jun 2023 - 03:19 GMT

"Those who are first movers... will find themselves facing a very willing market, a very exciting market," Kirkham stated. Moreover, SAF production in Egypt will contribute to environmental benefits such as reduced CO2 emissions and less pollution.

No FX flexibility without liquidity: Goldman Sachs concludes its investor trip to Egypt

Wed, 14 Jun 2023 - 05:48 GMT

Upon this trip, Goldman Sachs issued an economic research concluding the results of the meeting.

Al-Ahly’s treasury thrives with financial prizes after winning the African Champions League

Mon, 12 Jun 2023 - 07:58 GMT

The Confederation of African Football (CAF) regulation stipulates that the African champion will receive $4 million, while the runner-up will receive an amount of $2 million.

Xylem official explains reasons behind choosing Egypt for company's water pump investment

Tue, 30 May 2023 - 01:56 GMT

“Egypt is a larger economy, and growing faster,” Cerwinka told Egypt Today that this is the main reason for picking Egypt for the company’s investment.

Xylem targets export expansion in Africa by manufacturing water pumps in Egypt

Tue, 23 May 2023 - 09:30 GMT

He added that the company aims to take advantage of the advantages offered by Egypt, whether from its strategic location or the many trade agreements that allow it to enter the markets with large customs discounts, such as the Agadir Agreement with North African countries, the COMESA Agreement, as well as the the Greater Arab Free Trade Area (GAFTA) agreement.

Xylem aims to achieve LE5B annual turnover in Egypt, export 50% of production

Tue, 23 May 2023 - 09:12 GMT

Manzalawi said during the press conference held to announce the details of the new partnership, that the new factory aims to export 50 percent of production to African countries and the Middle East.

Egypt expected to devalue the EGP... what if it doesn’t in the short term?

Mon, 22 May 2023 - 08:01 GMT

What if Egypt won’t devalue its currency in the short term?

Egypt starts to increase local production, adapts more diversification strategies: EBRD official

Wed, 17 May 2023 - 12:17 GMT

Harmgart stated that the pressure of global food prices has led to more diversification strategies.

Video - Egypt has become increasingly competitive as a manufacturing hub: EBRD Managing Director

Tue, 16 May 2023 - 11:14 GMT

Harmgart expressed her eternal optimism with in particular, labor costs slow in and with declining exchange rate in big markets like Egypt.

Egypt’s office, retail space demand sees growth in 2023 despite challenges: Report

Mon, 15 May 2023 - 02:24 GMT

The report, which focuses on the retail and office sectors, said that the retail market was naturally impacted by the global supply chain bottlenecks, import restrictions, local currency devaluation, widespread inflation, and spillover effects from the Russian-Ukrainian conflict.

French Legrand announces new expansion plans in Egypt, exports 45% of local production

Wed, 10 May 2023 - 08:07 GMT

Legrand also launched INNOVAL Egypt, an integrated services center that provides specialized training and support for technical staff and after-sales services, and technical studies and designs for Legrand partners and customers.

EGX ends Tuesday on mixed note, market cap. loses LE 3.44B

Tue, 28 Feb 2023 - 06:04 GMT

The benchmark EGX30 declined 0.56 percent, or 96.08 points, to end at 17,002.08 points.

Egypt aims to attract 30 million tourists by 2028

Wed, 18 Jan 2023 - 10:36 GMT

Tourism Minister Ahmed Issa said in a meeting with the American Chamber of Commerce in Cairo, that About 13 million tourists visited Egypt in 2019.

EGX flags in green, records market cap. of LE1.025T

Sun, 15 Jan 2023 - 05:20 GMT

The benchmark EGX30 increased 0.06 percent, or 9.78 points, to end at 15,561.25 points.

Al-Ahly to get $250K from Benoun's World Cup participation

Wed, 21 Dec 2022 - 03:57 GMT

FIFA regulations allow each club to receive $10,000 for every day a player stays in his country’s camp during his participation in the World Cup, starting from November 14 until the end of his career in the tournament.

Interview: UAE's Agthia eyes to accelerate its businesses in Egypt, recent acquisitions allocate 28% of profits

Mon, 19 Dec 2022 - 04:44 GMT

Regarding the group business in Egypt, Smith pointed out that they are keen to start building their export portfolio from the Egyptian borders.

IMF approves $3B extended credit facility for Egypt

Fri, 16 Dec 2022 - 11:21 GMT

The first installment of the loan value, which amounts to about $750 million, will be delivered within days.