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Egypt

Business news and financial news from Egypt, covering companies including Central Bank of Egypt, Commercial International Bank, Egyptair, Orascom Construction and the Sovereign Fund of Egypt. Plus detailed statistics on Egypt's economy and economic outlook for 2025.

Editor's pick

Aerial view of Cairo, Egypt skyline on a hazy day, in front of Mosque Madrasa Sultan Hassan and Al Rifai mosque

Bolstering Egypt’s trade with Africa

Egypt's portfolio of multilateral trade deals includes the largest continental free trade agreement in the world. We look at how it can do more business in Africa – a market of 1.5 billion people

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Egypt's core inflation plunged more than expected to 10 percent in February, from 22.6 percent in January

Egypt’s headline inflation nearly halves in February

Egypt’s annual urban consumer price inflation plunged to 12.8 percent in February from 24 percent in January, decelerating even faster than analysts had expected, official data showed on Monday. The drop was amplified by a statistical base effect, as exceptionally fast price increases of the past two years were no longer reflected in the statistics, […]

Khan el-Khalili market, Cairo. Egypt's NFAs climbed to the equivalent of $8.7bn, according to the official central bank currency rates

Egypt’s net foreign assets jump in January

Egypt’s net foreign assets (NFAs) jumped by $2.74 billion in January, boosted by the sale of $2 billion in dollar-denominated bonds, central bank data showed. NFAs climbed to the equivalent of $8.7 billion from $5.96 billion at the end of December, according to Reuters calculations based on the official central bank currency rates. The increase […]

A trader works at the Egyptian Exchange. The rally on Egypt's bourse may continue if company valuations remain cheap

Egypt’s bourse rally endures despite shaky foundations

Cairo’s share index has trebled over the past two years as increasing numbers of Egyptians invest in stocks to preserve their wealth in response to double-digit inflation and a declining national currency. Company valuations remain cheap compared with regional peers, experts say, and so the market rally in Egypt may endure. However, the absence of […]

Latest Egypt News

The IMF has yet to publish a staff report from the fourth review, saying the Egyptian authorities needed more time to consider its publication

IMF to review Egypt’s economic reforms this week

The International Monetary Fund (IMF) will begin the fifth review of Egypt’s $8 billion economic reform programme, with a team scheduled to arrive in Cairo this week, the IMF said in a statement on Monday. The IMF board approved the fourth review on March 11, unlocking a disbursement of $1.2 billion in a 46-month IMF […]

Shops in the souk in Aswan, Egypt. Bokra aims to help finance credit for the country's SMEs

Egyptian fintech Bokra arranges $60m sukuk

Egyptian financial technology startup Bokra and Aman Holding have arranged a near $60 million bond to help finance credit to small- and medium-sized enterprises (SMEs) in the country, Aman said. The Cairo-based startup arranged EGP 3 billion ($59 million) worth of shariah-compliant debt in partnership with Egypt’s Aman Project Finance, a unit of Aman Holding. […]

The AD Ports agreement was signed in the presence of Egypt's Prime Minister Mostafa Madbouly and UAE minister of industry and advanced technology Sultan Al Jaber

AD Ports to break ground on Egypt logistics park this year

State-controlled AD Ports Group and Egypt government-backed Suez Canal Economic Zone have signed a 50-year renewable deal to develop and operate a 20 sq km logistics and industrial park near the coastal city of Port Said on the Mediterranean Sea. The Abu Dhabi-based ports operator will develop, construct, finance, operate and manage the industrial and logistics zone in […]

An Egyptian farmer harvesting flax, which the country exports. Shifting trade patterns could result in more foreign direct investment

UAE and Egypt could benefit most from global trade shift

The UAE and Egypt may benefit the most among Mena countries from the US-led reordering of the global trade framework, Citigroup Mena CEO Ebru Pakcan has said. By contrast, oil producers from Iraq to Kuwait and Oman to Bahrain could struggle, Pakcan said, on the back of the lowest international prices in four years.  Resource-poor […]

President El Sisi of Egypt rides the Cairo metro with his French counterpart, Emmanuel Macron, with planning minister Rania Al Mashat. The line is operated by a French company and Egypt is seeking more private sector involvement in its economy as it implements IMF reforms

IMF urges Egypt to accelerate sale of state assets

The International Monetary Fund has urged Egypt to move faster in selling off state assets to spur growth and reduce debt. The country’s economic growth is forecast to increase from 2.4 percent in fiscal year 2024 to 4.3 percent in fiscal year 2026, according to Jihad Azour, director of the IMF’s Middle East and Central […]

Rania Al Mashat, Egypt's planning minister, said other countries might follow the Ras El Hekma model

Egyptian minister touts Ras El Hekma as blueprint for global deals

Egypt’s Ras El Hekma deal with the United Arab Emirates shows how creditor and debtor countries around the world can work together for mutual benefit, the Egyptian minister of planning has said. It may also lead to similar agreements with other Gulf nations, according to Rania Al Mashat. “What Ras El Hekma has done is […]

A supermarket owner in Cairo stocks a fridge. Egypt and Turkey helped power 11 percent revenue growth in PepsiCo’s international beverages business

Gains in Egypt and Turkey help PepsiCo profit

Revenue growth at PepsiCo Inc.’s Europe, Middle East and Africa (Emea) division outpaced all its other regional divisions in the first quarter, lifted by stronger demand in Egypt and Turkey.  However, the US snacks and drinks company trimmed its full-year profit outlook and warned of rising global trade costs. The maker of Pepsi, Gatorade and […]

A tourist walks near the water at Egypt's Red Sea coast in Marsa Alam

Egypt targets 15% trade growth with Tunisia

Egypt has set a target to increase trade with Tunisia by 15 percent as it seeks to develop regional economic ties. Trade between the two countries, both of which are subject to reform programmes overseen by the International Monetary Fund, is expected to reach $485 million in 2025 from $421 million in 2024. The plan […]

Egypt's interest rates had not been lowered in five years

Egypt cuts interest rates for first time in 5 years

Egypt’s central bank lowered overnight interest rates by 225 basis points (bps) on Thursday, its first cut in more than five years, saying lower inflation had opened the way to yet further rate cuts in the future. The bank lowered the lending rate to 26 percent and the deposit rate to 25 percent. The median forecast in […]

Body Part, Hand, Person

Remittances to Egypt rise as reforms instill confidence

Remittances from Egyptian expatriates rose for 11 consecutive months following the start of economic reforms introduced in March 2024. Overseas Egyptians sent home $20 billion between July and January — the first seven months of the 2024-2025 fiscal year — an increase of 81 percent from $11 billion a year ago, according to the Central […]

The wind farm will generate clean energy for more than 1 million homes, reducing carbon emissions by 1.5 million tonnes annually

Egypt’s largest wind farm begins operations ahead of schedule

Egypt-listed Orascom Construction has commenced commercial operations at the newly expanded Red Sea wind farm six months ahead of schedule. The largest operational wind farm in Africa is being developed by the Red Sea Wind Energy consortium under a 25-year build-own-operate scheme, the company said in a statement. The alliance comprises France’s Engie (35 percent), Orascom […]

Qatar's Emir Sheikh Tamim Bin Hamad Al Thani, right, and Egypt's President Abdel Fattah El-Sisi in Doha

Qatar to invest over $7bn in Egypt’s economy

Qatar has pledged to invest $7.5 billion in Egypt as the North African country seeks to attract new money and boost economic growth, the countries said in a joint statement. The commitment was given during a meeting between Egypt’s President Abdel Fattah El-Sisi and Qatar’s Emir Sheikh Tamim Bin Hamad A-Thani, the state-owned State Information […]

Delegates attend the Saudi-Egyptian Investment Forum in Cairo on Monday

Egypt and Saudi Arabia plan joint real estate fund

Saudi Arabia and Egypt are planning to create a joint fund to carry out real estate projects in the two countries, an Egyptian official has revealed. Egypt, which is locked in an IMF-recommended programme to stimulate its economy, also wants Saudi investors for new projects in central Cairo, in line with a plan to be […]

3S Ready Mix will develop a ready mix factory and a concrete products hub in Egypt's new industrial zone adjacent to Ras El Hekma

Egypt’s Hassan Allam to build concrete hub for Ras El Hekma

Egypt’s Hassan Allam Holding has said one of its subsidiaries has signed a memorandum of understanding with Abu Dhabi-listed Modon Holding to supply construction materials for the Ras El Hekma megaproject on the Mediterranean. 3S Ready Mix, one of the country’s largest ready mix concrete suppliers, will develop a ready mix factory and a concrete products hub […]

The three contracts worth $235 million were signed between US-based Progress Rail and state-owned Egyptian National Railways

Egypt hires US company to modernise locomotives

Egyptian National Railways has awarded three contracts worth more than $235 million to US company Progress Rail to modernise its rail locomotive fleet. The contracts include the modernisation of 1,000 diesel-electric locomotives valued at $185 million and a 15-year agreement to supply parts for 141 locomotives worth $42 million, the US Embassy in Egypt said […]

A petrol station in Cairo. The price of diesel, one of the most commonly used fuels in Egypt, was raised by EGP2 to EGP15.50 per litre

Egypt raises fuel prices by 15% as it seeks to cut subsidies

Egypt increased prices on fuel products on Friday by up to almost 15 percent, state media reported, marking the first increase in 2025. The government is trying to reduce fuel subsidies as required by the International Monetary Fund’s (IMF) $8 billion support package. The increases of between 11.76 percent and 14.81 percent on a wide […]

Market stalls in Cairo. While non-food inflation fell in March, the price of fruit rose by 24 percent

Food prices push up Egyptian inflation in March

Food prices caused Egyptian inflation to increase in March. Egypt’s annual urban consumer price inflation accelerated to an annualised 13.6 percent in March, 1.5 percentage points higher than February, according to data from Egyptian statistics agency Capmas. The increase was driven by a near 3 percent increase in food prices. Cereals and bread were up […]

Egypt military IPOs Wataniya Petroleum

IPOs planned for five Egyptian companies owned by military

Egypt has finalised plans to offer stakes in five military-affiliated companies for listing on the local stock exchange in initial public offerings (IPOs). The companies to be listed are the National Company for Producing and Bottling Water (Safi), Wataniya Petroleum, fuel station operator Chillout, food production company Silo Foods and the National Company for Roads […]