First Independent Mena Newspaper
For the first time in years, a passenger train has crossed into Sinai as part of Egypt’s ongoing efforts to modernize its transportation network. The Ministry of Transport has initiated a trial run of the 100-kilometer Al-Fardan–Bir al-Abd railway line in Sinai, a significant milestone in the region’s rail infrastructure development. Deputy Prime Minister for […]
Egypt has been elected to lead the Arab Labor Organization (ALO) as President of its Board of Directors for the 101st session, marking the first time in 20 years that the country has held this position. The presidency, which extends until October 2025, was secured during the ALO board meeting held in Cairo on Thursday. […]
Egypt’s total public debt fell by 2.1 percent in the final quarter of the 2023/2024 fiscal year, according to the Ministry of Finance. By the end of June, the debt had decreased to LE 12.52 trillion from LE 12.78 trillion recorded in March 2024. This reduction was primarily driven by a 2.7 percent decline in […]
Egypt’s ambitious goals to have renewable energy accounting for over 42% of Egypt’s energy mix by 2040 were outlined during the BRICS Energy Ministers Conference held in Moscow this week. In an address before the conference, Minister of Electricity and Renewable Energy, Mahmoud Esmat, said Egypt also targets to capture 5-8% of the global green […]
The European Bank for Reconstruction and Development (EBRD) has adjusted Egypt’s economic growth projection upward, anticipating a 4% increase in FY2024/2025, indicating a positive recovery trajectory. Growth for FY2023/2024 was revised to 2.7%, with GDP expansion expected to reach 3.2% in 2024 and 4.5% in 2025. Inflationary pressures have moderated, with inflation declining to 25.7% […]
Egypt has unveiled its strategic objectives to scale up exports to over $140 billion by 2030 and secure annual foreign direct investment (FDI) inflows of $20 billion. “This is a realistic and achievable target,” Prime Minister Mostafa Madbouly said at a press conference on September 25. He emphasizing the feasibility of these economic milestones, highlighting […]
Egypt’s Minister of Foreign Affairs, Badr Abdelatty, reaffirmed the country’s right to safeguard its water security in response to the challenges posed by the Grand Ethiopian Renaissance Dam (GERD), asserting that Egypt will protect its interests in line with international law. In an interview with Asharq News published on September 22, Abdelatty highlighted the existential […]
The Egyptian government has finalized the purchase of 20 shipments of Liquefied Natural Gas (LNG) worth approximately $907 million to meet the country’s domestic energy demands between October and December 2024, according to undisclosed sources cited by Reuters. The procurement, overseen by the Egyptian General Petroleum Corporation (EGPC), features a six-month deferred payment plan. This […]
Egypt’s wheat imports significantly increased in the first half of 2024, rising to $2.324 billion from $1.785 billion in the same period of 2023, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). Wheat remains a crucial staple food for the country, contributing to the overall rise in raw material imports, which reached […]
Exports of thermal coal from the US to Africa increased 60% in the first half of this year to 5.3 million tons, compared with 3.1 MMst in the same period in 2023, the International Energy Agency said. In the first half of 2024, U.S. exporters shipped virtually all (98%) of this thermal coal to Egypt […]