News / Egypt

Ministry Grants Construction Licenses to 258 Industrial Projects

The Ministry of Trade and Industry granted construction licenses to 258 industrial projects in a number of Egyptian governorates and cities

Egypt Jumps 15 Places in Global Competitiveness Index

Egypt's ranking rose in the World Economic Forum's Global Competitiveness Report for 2017-2018

Almasa Hotel Opens in New Administrative Capital October 6

The New Administrative Capital saw the grand opening of its first hotel on October 6

CI Capital to Acquire Majority Stake in Reefy

CI Capital Holding, an Egyptian financial services group, announced that it reached an agreement in principle with Gemini Egypt Holding for Financial Investments to acquire Gemini’s majority stake in microfinance provider, Reefy

Orascom Construction Adds USD 750 mn Projects to Backlog in Q3

Orascom Construction said it added new projects to its backlog during the third quarter of 2017

CBE Raises Reserve Requirement on Deposits to 14%

The Central Bank of Egypt (CBE) said it will increase the reserve requirement on deposits to 14% from 10% for local banks

Egypt Records Higher Foreign Reserves at End-September

Egypt's net foreign reserves rose at the end of September 2017

SODIC Inks MoU to Develop Land in North Coast

Egyptian developer Sixth of October for Development & Investment Company (SODIC) signed a memorandum of understanding (MoU) to develop a new land in partnership with its owner

EBRD to Provide USD 28.5 mn Loan for Solar Plant in Aswan

The European Bank for Reconstruction and Development (EBRD) will provide a USD 28.5 mn loan for the construction of a 50 MW solar plant in Egypt’s Aswan governorate

Japanese Schools in Egypt See 20,000 Applicants

A total of 20,701 applicants have registered in the new Japanese schools in Egypt since registration opened on September 27

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