News / Egypt

Moody’s Changes Outlook on Egypt’s Ratings to Positive

Moody's Investors Service, a leading credit rating agency, has changed the outlook Egypt's long-term issuer ratings to positive from stable and has affirmed the B3 issuer ratings

Sabbour, Kuwait’s Manazel Ink EGP 229 mn Project Contract

Manazel Real Estate Developments, a subsidiary of Kuwaiti Manazel Holding, has signed an agreement with Egypt's real estate developer Landmark Sabbour to develop Layan Compound in New Cairo

Egypt, South Korea Ink EUR 243 mn Deal for Cairo Metro Line III

Egypt signed an agreement with South Korea for the procurement and manufacturing of 32 air-conditioned metro trains worth  EUR 243 mn for Cairo Metro Line III

UN-Habitat to Develop New Waterfront City in Egypt

The UN-Habitat Egypt has signed a contribution agreement with the New Urban Communities Authority (NUCA) and the Egyptian General Organization for Physical Planning (GOPP) to set a conceptual plan for the development of a waterfront city in Egypt's Northern Coast

Six Contractors to Build Latin Neighborhood in New Alamein

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly revealed that six contracting companies will build a neighborhood in New Alamein inspired by the ancient classic Alexandrian style

New Garden City to be Built in New Capital: Madbouly

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly revealed that the R5 district, to be named the New Garden City, will be built on an area of 1,000 acres in the New Administrative Capital

Egypt Aims to Attract USD 11 bn FDIs in FY 2018/19

Egypt’s Planning Minister Hala El-Saeed said on Wednesday, August 22, that the country aims to raise its foreign direct investments (FDIs) to USD 11 bn in FY 2018/19, up from USD 7.9 bn in the prior-year period

Egypt Licenses Single-Shareholder Companies

Egypt’s Minister of Investment and International Cooperation Sahar Nasr has signed on August 15 the regulatory framework for licensing single-shareholder companies, under the framework of amending the economic legislative structure

CBE Keeps Overnight Interest Rates Unchanged

The Central Bank of Egypt (CBE) decided to keep overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 16.75 %, 17.75 %, and 17.25 %, respectively

Hassan Allam Participates in New Alamein’s Mega Projects

Egypt’s Hassan Allam Holding (HAH) unveiled its participation, alongside its subsidiaries, in the construction of numerous mega national projects in New Alamein city

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