01:26
cairo, gmt + 2
24 August
Monday, 2026
Sun, 23 Aug 2026 - 04:46 GMT
El-Wazir said Egypt has successfully established strategic partnerships with major global port operators and shipping lines, helping enhance the capacity of Egyptian ports to attract transit trade.
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The amendment allocates €2 million to support Egypt’s social protection sector, subject to ratification.
Despite the improved outlook, the CBE warned in its latest Monetary Policy Report that inflationary pressures and regional developments remain the main risks to Egypt’s economic recovery.
Petroleum and Mineral Resources Minister Karim Badawi and New Valley Governor Hanan Magdy laid the foundation stone for the project, which aims to increase the value of Egypt’s mineral resources by transforming raw phosphate into higher-value products and industries.
Minister of Investment and Foreign Trade Mohamed Farid Saleh said the government is working to open new markets, increase the number of Egyptian exporters and capitalise on opportunities in priority destinations, particularly China.
The announcement followed a preparatory meeting between Egypt’s Assistant Foreign Minister for Arab Affairs, Ambassador Ehab Fahmy, and Sheikh Nayef bin Jassim Al Thani, Director of the Arab Affairs Department at Qatar’s Ministry of Foreign Affairs.
He brings more than two decades of experience in economic diplomacy, trade, investment and public administration.
The decision extends Abdalla’s leadership of the CBE as the central bank continues to implement monetary policies aimed at maintaining price stability, supporting the banking sector, and strengthening the resilience of the Egyptian economy.
The facility, described as the first of its kind in the Middle East and Africa, will assemble energy storage systems and is expected to create more than 100 jobs across manufacturing, production and technical operations, with a focus on local recruitment
The discussions covered progress on the FY 2026/2027 Economic and Social Development Plan, coordination with governorates on public investments and other priority economic files.
Minister of Foreign Affairs Badr Abdelatty met Sunday with Fahad Al-Dossari, Chairman of the Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), to discuss enhancing cooperation and supporting Egyptian companies operating across the continent.
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