First Independent Mena Newspaper
Egypt has reaffirmed on Sunday February 2 its commitment to the reconstruction of the war-ravaged Gaza Strip, stating that its efforts will ensure Palestinians are not displaced from their land. Speaking at a news conference in Cairo, Foreign Minister Badr Abdelatty emphasized that Egypt has a “clear vision” for Gaza’s rebuilding, which includes fulfilling the […]
The Egyptian Parliament has strongly rejected any proposals to relocate the Palestinian people from their land, calling such actions a “grave threat” to regional security and stability. Speaker Hanafi Gebali addressed the issue in a parliamentary session on Monday January 27, emphasizing that the Palestinian cause is not a simple territorial dispute but a matter […]
Egypt is in talks with the European Union (EU) to secure €4 billion ($4.2 billion) in financial assistance to support its ongoing reform efforts. The funds, which are expected to be allocated for budget support rather than specific projects, are part of Egypt’s broader strategy to stabilize its economy amid external challenges. Minister of Planning, […]
Egypt’s current account deficit more than doubled to $5.9 billion in the July-September 2024 quarter, up from $2.8 billion in the same period last year, according to the Central bank on January 16. A significant contributor to this widening deficit was a sharp drop in Suez Canal revenues, which fell by 61.2% to $931.2 million, […]
The African Development Bank (AfDB) will support the first phase of Egypt’s Private Sector Development and Economic Diversification Program. This comes under a $131 million agreement with the Egyptian Government and is part of a broader effort to strengthen Egypt’s economy and improve the business environment. This initiative aligns with the government’s strategy to enhance […]
The Information and Decision Support Center (IDSC) of the Egyptian Cabinet has released a report analyzing the future of employment, focusing on the transformative impact of technology and global economic shifts. Based on studies since the World Economic Forum’s first “Future of Work” report, the analysis highlights opportunities and challenges as technology and globalization reshape […]
Uzbekistan and Egypt have taken a major step in bolstering their bilateral relations, signing six pivotal cooperation agreements during the 7th Session of the Joint Committee on Economic, Scientific, and Technical Cooperation this December 24. The event, co-chaired by Egypt’s Minister of Planning and International Cooperation, Rania A. Al-Mashat, and Uzbekistan’s Minister of Investment, Industry, […]
Remittances to Africa and the Middle East, which play a pivotal role in many regional economies, significantly contributing to their GDP, are estimated to have increased 5.4% in 2024, primarily due to rebounded flows to Egypt, after a 14.6% decline in 2023. In 2024, remittance flows to low- and middle-income countries are expected to reach […]
The Egyptian Government plans to drill 46 new oil and gas wells this fiscal year, with an investment of $748.5 million. Minister of Petroleum and Mineral Resources, Karim Badawi, announced on Monday that 15 agreements are in the pipeline, accompanied by $20 million in signing bonuses. The Government aims to boost domestic output, reduce imports, […]
The Egyptian House of Representatives officially approved on Dec.15 a key financing agreement between the Egyptian Government and the Abu Dhabi Exports Office (ADEX). This agreement aims to support Egypt’s wheat imports through the General Authority for Supply Commodities (GASC), ensuring a reliable supply of wheat for the country. The framework outlined in the agreement […]