Latest news and articles about egypt economy from NEX English
The National Bank of Egypt has announced the launch of new savings certificates with a tiered interest rate reaching up to <strong>22%</strong> over three years. This initiative aims to attract savings and boost investments in the Egyptian market.
Engineer Amr Sultan, CEO of LMD, stated that Egypt is capable of generating real estate export revenues exceeding <strong>$30 billion</strong> by 2025, up from approximately <strong>$1.5 billion</strong> achieved last year. He emphasized the need for improved marketing and regulatory mechanisms to reach this goal.
Khaled Abbas, Deputy Minister of Housing, confirmed that the 'New Administrative Capital for Development' has become a tangible reality attracting international investments. This massive project represents a strategic step towards enhancing the Egyptian economy.
The Central Bank of Egypt announced the renewal of a Kuwaiti deposit worth <strong>$2 billion</strong>, reflecting enhanced financial cooperation between the two countries. This move aims to support the Egyptian economy and bolster its foreign currency reserves.
The Egyptian Ministry of Transport announced that the Foyest Albin factory in Abbassia produces 600 switch keys annually, saving €45 million in foreign currency. This achievement reflects the ministry's efforts to enhance local industry.
Sky Abu Dhabi Real Estate Development has announced the launch of its new project, Vallis, in New Cairo, with a total investment of <strong>20 billion EGP</strong>. This initiative aims to enhance the real estate sector in the region and reflects the company's commitment to expanding in the Egyptian market.
The Egyptian Ministry of Housing has announced plans to enhance the Marina Alamein Tourist Center, a key destination in the country. This initiative aims to improve infrastructure and services to attract more visitors.
Dr. Hussein Issa, Deputy Prime Minister for Economic Affairs, held a meeting with representatives from Chinese companies to discuss new investments in Egypt. The companies proposed an initial investment of <strong>$400 million</strong> for a container terminal project.
The Egyptian Finance Minister announced a set of new economic equations aimed at enhancing growth and improving the state's financial performance. This initiative is part of the government's efforts to tackle current economic challenges.
Charm Dreams for Tourism Investment achieved remarkable profits of <strong>224.6 million EGP</strong> in 2025, marking a significant increase of <strong>3.8 times</strong> compared to the previous year. The company's revenues also rose to <strong>352.6 million EGP</strong>.
The Egyptian Prime Minister's assistant announced that the government is preparing the offering document for Cairo Bank, allocating <strong>30%</strong> of shares to investors. This initiative aims to enhance transparency and attract investments.
The Egyptian government has announced the selection of an independent financial advisor as part of its steps to launch Cairo Bank in the market. This decision is part of the government's efforts to enhance transparency and financial efficiency.
The National Bank of Egypt has launched the new 'Beladi Certificate' aimed at Egyptians living abroad, offering biannual returns in euros and British pounds. This initiative seeks to meet the investment needs of expatriates and strengthen their ties with their homeland.
The former Minister of Petroleum stated that the decline in production at the Zohr gas field is a natural phenomenon, dismissing rumors about his death as baseless. This statement comes amid growing concerns about Egypt's gas production future.
The Egyptian president has issued a new presidential decree aimed at enhancing the role of the General Authority for the Suez Canal Economic Zone. This decision reflects the government's commitment to supporting economic development and increasing investments in the region.
The National Bank of Egypt has launched a new Platinum Certificate for 2026, offering investors the opportunity to earn up to 66,000 EGP in the first year with an interest rate of 22%. This certificate presents an attractive investment option amid current economic conditions.
The Egyptian government announced its intention to open Hurghada International Airport to private investment within a period not exceeding two months. This decision is part of efforts to enhance private investments in the air transport sector.
The International Monetary Fund announced that the Central Bank of Egypt has tasked two international firms with evaluating the country's largest state banks. This decision is part of the Egyptian government's efforts to enhance transparency and improve the financial performance of banks.