Norwegian renewable energy company Scatec is studying five new projects in Egypt, including a massive battery storage facility, a 1 GW solar power plant, green hydrogen and ammonia plants, and a project to convert one of Egypt's largest aluminium (...)
Egypt is actively seeking to expand South Korean investments in various sectors alongside current investments, stated Prime Minister Moustafa Madbouly on Thursday.
This came during his meeting with representatives of the top 15 South Korean (...)
The Greek manufacturing sector experienced a moderate improvement in April, as indicated by the S&P Global Greece Manufacturing PMI, which stood at 52.4 according to a Wednesday report. This figure, although slightly down from March's 52.8, marks (...)
Walid Gamal El-Din, the head of the Suez Canal Economic Zone (SCZONE), held discussions with Yvonne Baumann, the Swiss Ambassador to Cairo, accompanied by a team from the United Nations Industrial Development Organization (UNIDO), led by Elena (...)
Scatec, a Norwegian energy company, is moving forward with a wind power plant project in the West Sohag region boasting a capacity of 5 gigawatts, backed by foreign direct investments amounting to 5.7 billion dollars, as stated by the Egyptian (...)
Madinet Masr (stock code MASR.CA), one of Egypt's leading urban community developers, announced the launch of "Sheya", the latest project in the company's flagship project "Sarai", spanning an area of 228,212 sqm and strategically located near the (...)
Egypt's Suez Canal Authority inaugurated 'Egypt' tugboat building factory at the Red Sea Southern Shipyard in Safaga on Tuesday, according to the Authority statement. This comes as a result of the partnership agreement between the Suez Canal (...)
Waleed Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), welcomed a delegation from the Indonesian Ministry of Trade and Industry at the SCZONE headquarters in the New Administrative Capital. The delegation, led by Jerry Sambuaga, (...)
The Arab African International Bank (AAIB) and the National Bank of Egypt (NBE), as lead arrangers, have collaborated with other prominent financial institutions to increase the joint loan provided to Roya Developments. The loan amount has been (...)
Kristalina Georgieva, IMF Managing Director and Chair, highlighted Egypt's macroeconomic challenges exacerbated by the regional unrest and disruptions in the Red Sea impacting Suez Canal receipts.
In an IMF report on Egypt's economy, Georgieva (...)
The Suez Canal Economic Zone (SCZONE) granted land usufruct for an area of 750,000 square meters to the XinFeng Company for iron products. The purpose is to establish a factory for producing hot-rolled iron coils in the Sokhna Industrial Zone, (...)
Tarek El Molla, Minister of Petroleum and Mineral Resources, recently reviewed the ongoing construction of the Suez Methanol Derivatives Company's facility. Situated within the Egyptian Petrochemicals Holding Company (ECHEM) in Damietta Port, the (...)
The Minister of Petroleum and Mineral Resources, Tarek El-Molla, emphasised the need to expedite the construction of the Suez Methanol Derivatives (SMD) plant at Damietta Port to meet high domestic demand, according to the cabinet (...)
The Suez Canal Economic Zone (SCZONE) hosted a trade delegation from China's Zhejiang Province on Tuesday. The delegation, led by Chen Zhicheng, Deputy Director General of Zhejiang's Department of Commerce, included representatives from major (...)
As a part of the "Decent Life" initiative by President Abdel Fattah Al-Sisi, Egypt's Ministry of Health and Population has initiated 90 free medical convoys across various governorates, from 16 to 30 April.
Hossam Abdel Ghaffar, the spokesperson for (...)
The General Authority of Suez Canal Economic Zone (SCZONE) has successfully attracted about $894 million in investments since January 2024, with Chinese investments accounting for 40 per cent, according to chairman Waleid Gamal El-Dien, as stated by (...)
Egypt's economic growth is expected at 2.8 per cent in the 2024 financial year – which runs from July 2023 to June 2024, the World Bank said on Monday.
The growth outlook for 2024 was reduced from 3.5 per cent as forecast in January.
According to (...)
Oil prices edged up roughly 1 per cent on Friday due to geopolitical tensions in the Middle East. Despite this gain, oil closed the week with losses due to the International Energy Agency's (IEA) downward revision of global oil demand growth and (...)
Egypt's General Authority for the Suez Canal Economic Zone (SCzone) has signed a $40 million contract with Turkish group Eroğlu Global Holding A.S. for a jeans factory project in the West Qantara Industrial Zone.
The project, spanning an area of 62 (...)
An Egyptian expatriate plans to launch a €100m factory for refurbishing and recycling smartphones in the Suez Canal Economic Zone (SCZONE).
Soha Gendi, Egypt's Minister of Emigration and Egyptian Expatriates' Affairs, met with Samuel Mathias, a (...)
حصلت المنطقة الاقتصادية لقناة السويس على شهادة شراكة نموذج أهداف التنمية المستدامة للمناطق الاقتصادية "SDG Model Zone Partner" من التحالف العالمي للمناطق الاقتصادية الخاصة Global Alliance of Special Economic Zones "GASEZ"، وقد تم الإعلان عن هذا (...)
The Suez Canal Economic Zone (SCZone) was certified on Wednesday as an SDG Model Zone Partner by the Global Alliance of Special Economic Zones (GASEZ), making it one of the top 50 out of 7,000 represented zones.
The selection process, guided by (...)
The Suez Canal Economic Zone (SCZONE) has announced its receipt of the Sustainable Development Goals Model Zone Partner certificate, bestowed by the Global Alliance of Special Economic Zones (GASEZ). This honour was revealed at the UNCTAD Global (...)
Suez Canal Bank announced that it has completed measuring the carbon emissions of about 70% of its financing portfolio for direct facilities, in cooperation with DCARBON and ESG.
This step is considered a leading achievement in the Egyptian banking (...)
The International Monetary Fund's (IMF) executive board has approved the the augmentation of the current loan programme with Egypt by $5 billion, the IMF said in a statement on Friday.
"The Executive Board of the International Monetary Fund (IMF) (...)