News / Government

Annual Core Inflation Up to 8.86% in October: CBE

The Central of Egypt Bank (CBE) announced on November 11 that the annual core inflation jumped to 8.9% YoY in October, up from 8.6% in September, another leap in Egypt’s inflation indicators during the same month

Tourism to Comprise 15% of Egypt’s GDP in 2018: Minister

Minister of Tourism Rania Al-Mashat foresees that possibly 10 mn tourists will be visiting Egypt in 2018 in a feat that will see the industry contribute almost 15% to the country's GDP this year

S&P Affirms Egypt’s B/B Credit Rating With Stable Outlook

Standard & Poor’s (S&P) Global Ratings affirmed on November 9 the "B/B" long- and short-term foreign and local currency sovereign credit ratings on Egypt with a stable outlook, reflecting the potential of raising the country's rating next year

Saudi Arabia, CyBe Set Up Region’s First 3D Printed House

Saudi Arabia's National Housing and Industrial Development and Logistics Program has successfully built the region's first 3D printed house in the capital Riyadh, in partnership with Dutch company CyBe, a pioneer in the field

Egypt’s Foreign Reserves Reach USD 44.5 bn in October: CBE

The Central Bank of Egypt (CBE) announced on November 5 that the country's foreign currency reserves continued its upward trend and increased by USD 44.501 bn at the end of October, a bit higher than USD 44.459 bn in September

Tourism Ministry Opens Egypt’s Pavilion at London’s World Travel Market

Minister of Tourism Rania Al Mashat has announced the opening of Egypt's pavilion at the World Travel Market (WTM) in London, attempting to provide visitors with "an immersive glimpse of what the country has to offer to suit all tastes and budgets"

China’s CSCEC Plans to Train 10,000 Egyptian Construction Workers

Chairman of China State Construction Engineering Corporation (CSCEC), the company responsible for establishing the business and financial district in the New Administrative Capital (NAC), said the firm plans to train 10,000 Egyptian construction workers through free training courses as it builds the business district of NAC

Egypt’s Economy Grows 5.3% in Q1 FY2018/19

Egypt's economy grew by about 5.3% YoY during the first quarter of the FY 2018/19, with gas, telecommunication, and construction sectors, as well as revenues from the Suez Canal, mainly contributing to such growth

1st Phase of New Mansoura to be Established Over 3 Years: Official

New Mansoura Authority Deputy Chairman Yasser Kahla said that the first phase of the new city is expected to see investments worth EGP 45 bn, with expectations to be implemented within three years

Gov’t Unveils Requirements for Granting Residency to Foreign Homebuyers

Deputy Minister of Housing for National Projects Khaled Abbas unveiled on November 4 the necessary requirements for foreigners who will be granted the Egyptian residency in return for purchasing a real estate property

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