Daily News Egypt

Belgian golfer Christophe Elians won the eighth round of the 2026 Egypt Golf Series on Friday, finishing 16 under par to set a new course record at the Sokhna Golf Club. Elians secured the Pro Golf Tour title after recording 10 under par on the final day of the competition in Ain Sokhna. Switzerland’s Mauro Gilardi and Estonia’s Martin Su tied for second place, finishing five strokes behind the winner at 11 under par. The tournament included players representing 14 countries. Partici

Opella Egypt is scaling up its commitment to the local market with total investments of approximately EGP 1bn over the past decade, as the global self-care giant doubles down on local manufacturing, portfolio expansion, and youth development while ruling out an immediate stock market listing. The company, which serves an estimated 15 to 20 million Egyptians annually, operates through a flexible contract manufacturing model. Opella currently relies on three Egyptian manufacturing partners, with a

Indorama Egypt Fertilisers has signed a contract to establish a new phosphate fertiliser plant in the Suez Canal Economic Zone (SCZONE) with a first-phase investment of $525m, targeting 80% of its production for export. The agreement, witnessed by Prime Minister Mostafa Madbouly at the government headquarters in the New Administrative Capital on Wednesday, involves the construction of an integrated industrial complex in the Sokhna Industrial Area. The project is expected to create 3,000 jobs, in

Egypt plans to add 2,500 megawatts of renewable energy capacity to its national grid in 2026, the presidency announced Tuesday, as part of efforts to strengthen electricity stability and reduce reliance on fossil fuels.   The statement followed a meeting between President Abdel Fattah Al-Sisi, Prime Minister Mostafa Madbouly, and the ministers of electricity and petroleum, which reviewed progress in renewable energy projects, including wind, solar, and battery storage systems, under Egypt’s

Egypt has voiced full support for Kuwait amid ongoing regional tensions, calling for de-escalation and renewed diplomatic efforts to prevent a wider conflict.   In a statement on Wednesday, Egypt’s Foreign Ministry said Foreign Minister Badr Abdelatty delivered a message from President Abdel Fattah Al-Sisi to Kuwait’s emir during a meeting with Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah. The message reaffirmed Cairo’s solidarity with Kuwait following recent “attacks” targeting the c

Egypt has temporarily listed six state-owned companies on the Egyptian Exchange (EGX), a move aimed at accelerating the government’s initial public offering (IPO) programme and increasing private sector participation in the economy. The listings include two subsidiaries of the Chemical Industries Holding Company: El Nahda Industries Company – El Nahda Cement Plant and the Egyptian Company for Pipes and Cement Products- Seigwart. Four subsidiaries of the Metallurgical Industries Holding Company w

A ceasefire between the United States and Iran has taken effect with broad international support, but early violations and continued hostilities are already casting doubt on its durability ahead of talks scheduled in Islamabad. Egyptian President Abdel Fattah Al-Sisi hailed the announcement as “welcome news for millions who seek peace,” expressing hope it could pave the way toward a lasting agreement that restores regional security and stability. He reaffirmed Egypt’s support for Gulf states, Jo

EDECS, a leading regional engineering and contracting group, and MEDLOG, the global logistics arm of MSC Group, have signed an agreement to launch a major dry port project in 10th of Ramadan City. Spanning 189,000 square meters, the facility will be delivered under a design-and-build contract covering engineering, procurement, and construction (EPC) services. Works will include earthworks, paving, utilities installation, and the development of critical port infrastructure. The project is set to

In a move to strengthen cooperation between national development institutions and international partners, the Medium, Small, and Micro Enterprise Development Agency (MSMEDA) has signed a cooperation agreement with Outreach Egypt, the implementing partner of the Orange Corners Egypt initiative backed by the Netherlands. The partnership aims to deliver integrated non-financial support services to entrepreneurs and enhance the competitiveness of Egypt’s economy. The agreement was signed by Bassel R

The Central Bank of Egypt (CBE) has instructed banks not to grant or renew credit facilities to non-banking credit providers unless they are officially registered, assigned a CBE code, and recorded on its information network as well as with the Egyptian Credit Bureau. In a circular addressed to banks, the CBE stated that existing indebtedness will be placed under liquidation if the entities concerned fail to regularise their status within a three-month period. Banks have been tasked with notifyi

Ahmed Rostom, Minister of Planning and Economic Development, met with Chitose Noguchi, Resident Representative of the United Nations Development Programme in Egypt, to explore opportunities for joint cooperation in energy, digital transformation, and data systems development in support of sustainable development. The meeting reviewed the Egyptian government’s efforts, led by the Central Crisis Management Committee chaired by Mostafa Madbouly, to address ongoing economic and geopolitical developm

Minister of Industry Khaled Hashem held an expanded meeting with Mohamed El-Sewedy, Chairperson of the Federation of Egyptian Industries, and members of the Handicrafts Chamber, headed by Mohamed Sakr, to discuss mechanisms to develop Egypt’s handicrafts and heritage industries and enhance their competitiveness in global markets. During the meeting, participants reviewed key challenges facing the sector, including the limited availability of production inputs, high customs duties, and the lack o

Egypt’s National Food Safety Authority (NFSA) has reported a steady inflow of food imports during the final week of March and early April, alongside intensified monitoring measures to ensure product safety and protect consumer health. According to the NFSA’s General Directorate of Exports and Imports, between March 28 and April 3, 2026, Egypt received 2,440 food consignments totalling around 510,000 tonnes. The shipments were handled by 995 importing companies and included key strategic commodit

Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA) has held a series of meetings with the Jordan Enterprise Development Corporation (JEDCO), bringing together officials from both sides alongside representatives of key ministries and entities, including the General Authority for Investment, the Industrial Development Authority, the Commercial Representation Authority, the Egyptian Drug Authority, the General Organisation for Export and Import Control, the Egyptian Organisation

Egypt’s Minister of Water Resources and Irrigation Hani Sewilam said on Sunday that the country is managing its Nile water resources through a dynamic system based on real-time monitoring and hydrological forecasting to address rising demand during peak periods. In a statement, the ministry said Sewilam made the remarks during a meeting of the permanent committee responsible for regulating Nile inflows, where officials reviewed water levels at Lake Nasser, dam operations and the overall performa

Egypt’s Ministry of Local Development and Environment said on Sunday it has begun implementing a plan to close and rehabilitate the Obour landfill east of Cairo, with part of the site set to be transformed into a green park following persistent complaints from residents over pollution. The ministry said waste intake at the landfill was halted from April 1, with safe closure procedures now underway in line with environmental standards aimed at reducing emissions, odours and uncontrolled burning.

Minister of State for Military Production Salah Gomaa has chaired a meeting with the boards of directors of companies and units affiliated with the ministry to review financial performance for the period from January 1 to March 31, 2026, and outline measures to enhance operational efficiency. During the meeting, the minister issued a series of directives aimed at improving productivity and streamlining operations across the ministry’s entities. He stressed the importance of delegating authority

Gold prices in Egypt posted a sharp increase over the past week, supported by rising global prices and continued fluctuations in the exchange rate of the U.S. dollar against the Egyptian pound. The price of 21-karat gold, the most actively traded in the local market, rose by 4.74% to EGP 7,175 per gram by the end of the week. According to Ehab Wassef, head of the Gold and Precious Metals Division at the Federation of Egyptian Industries, the domestic market was directly influenced by the global

The Suez Canal Economic Zone (SCZONE) has announced the arrival of the vessel MV PAROSHIP at East Port Said Port, marking the largest dry bulk carrier ever to berth at an Egyptian port. The ship arrived on Sunday from Mauritania and docked at the Sky Ports multipurpose terminal, underscoring the port’s advancing operational capacity and infrastructure readiness to handle ultra-large vessels. The MV PAROSHIP is carrying an estimated 180,000 tonnes of cargo, surpassing the capacity of previously r

Minister of Finance Ahmed Kouchouk said the government is intensifying efforts to build trust with the business community through tangible facilitation measures, as part of a broader push to modernise Egypt’s tax system and expand the tax base. He noted that meaningful progress is being made in transforming the tax landscape by adopting a customer-focused approach, rolling out mobile application services, leveraging advanced technology, and utilising the tax database to streamline procedures for