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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

Tatweer Misr, GEN Sign MoU For EGP 120 mn Entrepreneurship Hub

Egypt's real estate developer Tatweer Misr has inked a memorandum of understanding (MoU) with Global Entrepreneurship (GEN) to develop an entrepreneurship hub in Tatweer Misr's Bloomfields compound in Mostakbal City at an investment cost of EGP 120 mn

Misr Italia, El Mostakbal to Co-Develop New Project in Mostakbal City

Egypt’s property developer Misr Italia Properties and El Mostakbal for Urban Development have inked a deal for the co-development of an integrated residential compound in Mostakbal City with initial investments worth nearly EGP 22 bn and expected sales of EGP 36 bn

Zahya’s 1st Phase is Sold Out With EGP 1.5 bn Sales

Egypt's real estate developer City Edge Developments announced selling all units of the first phase of its newest development in New Mansoura, Zahya, with total sales of EGP 1.5 bn

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"

AfDB Invested USD 2.8 bn in 30 Egyptian-Based Projects Since 2016: President

The African Development Bank Group's (AfDB) President Akinwumi Adesin said the bank has invested up to USD 2.8 bn in 30 Egyptian-based projects since the country kicked off its economic reform program in 2016

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

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