News / Government

August Headline Inflation Hits Lowest Since January 2013

Egypt’s annual headline inflation rate fell to a six-and-a-half-year low in August, registering 7.5% from 8.7% in July, opening the way for further rate cuts by the Central Bank of Egypt (CBE).

Gov’t Presents JV Opportunities in Historic Cairo

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has presented to a group of investors the various joint venture opportunities in Historic Cairo, namely projects being developed by the housing and antiquities ministries.

Egypt Ranks No.1 Investment Destination in Africa: RMB

Egypt has topped the list of most attractive African countries to invest in for the third consecutive year, based on South Africa’s Rand Merchant Bank’s 2020 investment report, due to be published next January

Egypt Secures EGP 16 mn Belgian Grant for Baron Palace

Egypt and Belgium signed a Memorandum of Understanding (MoU) to fund Heliopolis’ Baron Empain Palace restoration, with EGP 16 mn, a step coming merely two months ahead of the iconic spot's grand opening.

EU Funds Egypt’s Development at EGP 19.91 bn Annually: Minister

Egypt’s Minister of Trade and Industry Amr Nassar has revealed that the European Union (EU) is funding development projects in Egypt at an annual coast of EUR 1.1 bn (EGP 19.91 bn).

New Akhmim Sees 1,632 Housing Units 70% Finalized

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said 1,632 social housing units, within 68 buildings, are 70% completed in New Akhmim, Sohag Governorate, as part of the state's efforts to provide affordable housing to low-income citizens

Egypt’s NAC to Have Largest Entertainment District in MENA

Egypt is nearing to finalize a deal for an entertainment district in the New Administrative Capital (NAC), east Cairo

Cabinet to Receive Real Estate Development Draft Bill

Primer Minister Mostafa Madbouly has mandated the swift finalization of a draft law to establish the "Egyptian Federation for Real Estate Developers," which aims to regulate property development, ahead of its presentation to the cabinet for approval.

Nasser City Expects Over 3,000 Units Done in December

West Assiut's Nasser City will witness the finalization of 1,584 social housing units, together with 1,440 apartments in the city’s Sakan Misr medium-income project, by next December

Foreign Reserves Hit All-Time High of USD 45 bn in August: CBE

The Central Bank of Egypt (CBE) has revealed that nearly USD 53 mn were added up to the country's net foreign reserves in August, logging USD 44.969 bn from USD 44.917 bn in the previous month.

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