News / Egypt

Egypt Might See Slow Growth Due to Coronavirus: Minister

Planning Minister Hala El Saeed said Egypt endeavors to see a growth of 3.5% in FY 2020/21, yet this figure could cripple to 2% if the coronavirus pandemic continues till December.

CED Awards EGP 138 mn Contract to Construct Etapa Phase II

Egypt's national developer City Edge Developments (CED) has awarded an EGP 138 mn contract to Gama Construction for carrying out construction works of phase II of Sheikh Zayed's Etapa.

COVID-19 Affected 5 Sectors in Egypt: Al-Mashat

Minister of International Cooperation Rania Al-Mashat commented that the recent pandemic outbreak negatively affected five main sectors in Egypt, Invest-Gate reports.

NAC’s R3 Reaches 84% Implementation Rate: Minister

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar stated that the implementation rate of R3 in New Administrative Capital (NAC) reached 84%, Invest-Gate reports.

Gov’t Eases Payment of Health Sector Dues

Egypt’s Ministry of Finance issued new decisions regarding the payment of financial dues by the health sector amid the coronavirus (COVID-19) crisis

First Group to Launch New Project in May

Real Estate Developer “First Group” launches its newest development projects in Sheikh Zayed City, by the end of May 2020, Invest-Gate reports.

Misr Italia Holding Announces Board Restructure

Misr Italia Holding appointed Ahmed Saad El-Deen Abou Hendya as its new non-executive chairman in addition to Mohamed Hany El Assal and Mohamed Khaled El Assal as managing directors and board members, Invest-Gate reports

Badya Project is Underway in West Cairo: Official

Head of the New 6th of October City Development Authority Adel El Naggar highlighted the necessity to meet deadlines for implementing Badya residential project yet with high quality and efficiency

IMF Supports Egypt to Keep Economic Reform Program’s Gains

Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva announced the fund's support for Egypt’s efforts to safeguard the achievements made by the economic reform program under the completed three-year Extended Fund Facility

Tourism Minister Revokes Hotel License Over Coronavirus Layoffs

Tourism and Antiquities Minister Khaled El Anany issued a decision on April 26 to revoke the license of a leading hotel in Sharm El-Sheikh after it laid off all workers due to the coronavirus pandemic

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