Egypt

In the recent survey conducted by Kearney, South Africa and Egypt emerged as the sole contenders from Africa in the rankings of emerging markets poised for foreign direct investment (FDI) confidence in 2025. This recognition not only highlights their potential but also places them on a global stage where investor interest is increasingly crucial. Notably, South Africa made remarkable strides by rising from 11th to 7th place in the global rankings, achieving an FDI confidence score of 1.48. This improvement…

Egypt’s Economic Resurgence and Challenges In an encouraging turn of events, Egypt’s economy reported a growth of 4.77% during the third quarter of the 2024/25 fiscal year, a significant improvement from just 2.2% in the same period last year. This data, released by the Ministry of Planning, brings a sense of optimism amid the challenges that have long plagued the Egyptian economy. Could this signify a turning point, or is it merely a fleeting moment in a much larger narrative? The fiscal year in Egypt spans from July to…

In a tragic incident that shook the local community, a truck collided with a minibus transporting workers on a roadway in Egypt, resulting in the heartbreaking loss of 19 lives—most of whom were teenage girls. This unfortunate event unfolded early on a Friday morning in Ashmoun, a city nestled within the Nile Delta province of Menoufia, to the north of Cairo. As detailed by local officials and reported by the state-run publication Akhbar al-Youm, the workers were making their daily commute from their home village of Kafr…

EGAS Awards Exploration Blocks: A Strategic Leap for Egypt's Natural Gas Sector In a significant step towards revitalizing Egypt's natural gas landscape, the Egyptian Natural Gas Holding Company (EGAS) has recently awarded six new exploration blocks to a consortium of international firms. This move not only highlights Egypt's ambition to attract foreign investment but also underscores the country's strategic role in the global energy market. Among the newly available blocks are four…

In a significant development, the Chinese embassy in Israel has announced its commitment to assist Chinese citizens seeking to evacuate amid the escalating tensions in the region. Starting this Friday, the embassy plans to conduct evacuations in batches, a move indicative of the increasingly urgent situation. According to the embassy's announcement, arrangements have been made to transport Chinese nationals via bus to the Taba Border Crossing in Egypt. This crossing is approximately 360 kilometers (or 224 miles) from Tel…

Egypt's Urgent Quest for Alternative Fuel Supplies Amid Regional Tensions In the midst of escalating regional conflicts, Egypt finds itself on the brink of a pressing energy crisis. As military tensions mounted between Iran and Israel, the disruption of natural gas flows has left Egypt scrambling to secure alternative fuel supplies. The urgency of this situation can hardly be overstated, especially when considering how intertwined such geopolitical dynamics are with a nation’s day-to-day energy needs. According to…

New Oil and Gas Discovery in Egypt's Western Desert The Egyptian General Petroleum Corporation (EGPC) has made an exciting announcement regarding a new oil and gas discovery in the Abu Sennan brownfield located in Egypt's Western Desert. The news was officially released by the Ministry of Petroleum and Mineral Resources, marking yet another chapter in Egypt's ongoing quest for energy independence. Spanning over two-thirds of Egypt’s land area, the Egyptian Western Desert is a vast…

Egyptian authorities have recently deported multiple foreign nationals who traveled to Egypt to participate in a pro-Palestinian march, with many more facing potential deportation, according to organizers as well as sources from the airport and security teams. This week, hundreds gathered in Egypt for the Global March to Gaza, a notable international initiative designed to advocate for an end to the Israeli blockade of the Palestinian enclave and to raise awareness of the ongoing humanitarian crisis there. As one organizer…

On a sunny Sunday, Egypt unveiled plans that could reshape its geographical and economic landscape. The initiative centers around the creation of a new city in the desert—Jirian City—signifying a bold attempt to navigate the complex challenges of water scarcity and economic strain. This ambitious project involves rerouting roughly 7% of Egypt's annual Nile River quota away from the fertile delta regions, aiming to direct much-needed resources into urban and agricultural development. According to Reuters, the diverted water…

Russia Deepens Its Diplomatic Ties with Egypt Through New Consulate Recently, in a significant move, Russia announced the opening of a new consulate in Sharm el-Sheikh, a beautiful resort city along the Red Sea, as confirmed by Prime Minister Mikhail Mishustin on May 27. This step marks a new chapter in the evolving relationship between Russia and Egypt, nurturing a partnership that promises to flourish progressively. The initiative is not merely bureaucratic; it's indicative of…