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Egyptian manufacturing technology company Simplex has opened its second production facility in 10th of Ramadan City, marking a major milestone in its growth strategy. The company has invested $50 million in the new factory to expand its Computer Numerical Control (CNC) machine manufacturing capacity and support rising demand from both local and international markets. The inauguration ceremony brought together government officials, investors, diplomats, and business leaders. Egypt’s Finance Minister Ahmed Kouchouk attended the event alongside Simplex founders Ahmed Shaaban and Mohamed Mansour. During the ceremony, the company also laid the foundation stone for a third factory, signaling continued expansion plans.…
Konecta has officially opened its new regional headquarters in Egypt along with a dedicated artificial intelligence center, marking a major step in the company’s expansion strategy across the Middle East and Africa. The investment strengthens Egypt’s position as a growing hub for AI-powered services, multilingual customer experience solutions, and digital offshoring operations serving international markets. The inauguration ceremony was attended by senior government officials, including Eng. Rafat Hindy, Egypt’s Minister of Communications and Information Technology, and Ahmed Elzaher, Chief Executive Officer of the Information Technology Industry Development Agency (ITIDA). Their presence highlighted the government’s continued support for the development of…
Egypt attracted $15.5 billion in foreign direct investment (FDI) during 2025, making it the largest recipient of foreign investment in Africa and the second-largest destination in the Arab world, according to government officials. The announcement was made by Minister of Investment and Foreign Trade Mohamed Farid during the launch of the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2026 in Cairo. The event brought together senior government officials, business leaders, representatives of international financial institutions, and regional organizations to discuss investment trends and economic development. Farid said the government is finalizing a new national investment strategy…
Egypt is continuing to accelerate industrial and economic development efforts as the government works to expand production, attract investment, and create jobs across the country. Deputy Prime Minister for Economic Affairs Hussein Eissa said industry remains one of the most important drivers of economic growth and plays a central role in strengthening Egypt’s competitiveness in global markets. Eissa made the remarks during a meeting with Gharbeya Governor Alaa Abdel Moaty at the governorate’s headquarters. The meeting marked the start of an official visit that included inspections of several industrial and production projects in the governorate. The discussions focused on key…
Egypt is set to welcome thousands of visitors to its coastal cities as the Art Beach Programme returns for the 2026 summer season. The nationwide cultural event will offer more than 240 free concerts and live performances across several popular seaside destinations, giving residents and tourists the chance to enjoy Egyptian music, dance, and traditional arts at no cost. The programme is organized by the General Authority for Culture Palaces and will run from July 28 through early September. Events will take place in Alexandria, Matrouh, Damietta, Gamasa, Port Said, and Hurghada, bringing cultural activities to audiences throughout Egypt’s Mediterranean…
Egypt has recorded a major increase in petroleum exports during the first half of 2026. Official figures show the country exported more than 2.3 million tonnes of refined petroleum products worth about $2.3 billion between January and June. The six-month export volume already matches the country’s total petroleum product exports for all of 2025. Officials expect exports to continue growing during the second half of the year as refinery operations remain strong. The Ministry of Petroleum and Mineral Resources said the exported products included jet fuel, naphtha, waxes, and vacuum distillate. These refined products are sold to international markets and…
Egypt’s gold market recorded stronger demand during the past week as money released from maturing high-yield bank savings certificates entered the precious metals market. A new market report said the additional liquidity, combined with seasonal buying, helped lift local gold prices and supported consumer demand. The Egypt Gold Market Demand report also showed a sharp increase in the country’s gold imports during the first half of 2026. The rise reflects growing interest in gold as both a savings option and a consumer product while economic uncertainty continues to influence investment decisions. According to the market report, the price of 21-karat…
Egypt has called for an immediate end to military action as tensions between the United States and Iran continue to rise. The country also stressed the need to protect shipping routes through the Strait of Hormuz and the Red Sea, warning that further conflict could affect global trade and regional stability. The Egypt US Iran De Escalation effort comes as military activity has increased across the Gulf region. Egyptian officials said diplomacy remains the best path to reduce risks and prevent the crisis from growing. Egyptian Foreign Minister Badr Abdelatty held separate phone talks with Omani Foreign Minister Badr bin…
Egypt has approved a new group of oil and gas agreements as the country works to increase domestic energy production and strengthen its long-term energy security. The new deals support exploration and production projects across several key regions, including North Sinai, the Nile Delta, the Mediterranean, and the Eastern Desert. The approvals come as Egypt seeks to meet rising energy demand while responding to changes in regional and global energy markets. Higher demand for natural gas and ongoing market uncertainty have increased the importance of expanding local production. According to local reports, the approved agreements cover both exploration and production…
The Zone 5 AfroBasket Qualifiers began on Friday in Cairo, Egypt, with Uganda and host nation Egypt claiming impressive victories on the opening day. The tournament is part of the qualification process for the 2026 FIBA U18 AfroBasket, where teams are competing for places in the final event next month in Abidjan, Côte d’Ivoire. Six teams are taking part in the Zone 5 competition, but only four were in action on the first day. Uganda met South Sudan in Group B, while Egypt faced Tanzania in Group A. Both winning teams made strong starts as they look to secure qualification…