Author: Steven Sahiounie

 Egypt’s net foreign reserves rose to $46.126 billion in May from $41.057 billion in April, central bank data showed on Tuesday.

The industrial sector, which is represented by 4,702 companies promoting the employment of 534,000 people, contributes 90% to exports, or 50 billion dinars/year, said Minister of Industry, Mines and Energy, Fatma Thabet.

The trade exchange between Egypt and Hungary rose by 16.9% year on year (YoY) to $379 million in 2023, compared to $324 million, Minister of Trade and Industry Ahmed Samir stated.

Non-oil trade between Dubai and Senegal reached a value of $926mln in 2023, according to Dubai Customs data, achieving year-over-year growth of 17.7% DUBAI – Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has arranged more than 150 business matching meetings between companies from Dubai and Senegal. The meetings took place in Dakar during the first leg of the chamber’s trade mission to Senegal and Morocco as part of the “New Horizons” initiative, which supports the expansion of local companies by connecting them with promising global markets. Representatives of companies from Dubai operating…

Top bosses of the largest US firms earned 200 times more than their employees last year, research shows Chief executives of the largest American companies saw their income grow at a significantly faster rate than that of their workers last year, the Associated Press (AP) news agency has reported, citing data analysis from a study conducted in partnership with business intelligence firm Equilar. It comes as numerous polls have suggested that many Americans are struggling with the rising cost of rent and groceries. The median total compensation package for CEOs who run firms in the S&P 500 jumped by 12.6%…

The director general of the International Atomic Energy Agency (IAEA) says he is willing to continue to work with the next government in Iran. In an address to the IAEA Board of Governors on Monday, Rafael Grossi expressed hope that high-level dialogue and ensuing technical exchanges that were agreed during his trip to Iran in early May could continue under the country’s new government. Grossi reiterated that late Iranian Foreign Minister Hossein Amir-Abdollahian and Iran’s top nuclear official Mohamamd Eslami had agreed to his proposals for implementing a joint statement announced on March 4, 2023 to address the outstanding issues…

Of the four nation-members of the G7, four are currently facing charges of complicity in Israeli war crimes at the ICJ. These include Germany, Canada, the US, and the UK. On Monday, the G7 leaders published a statement expressing their full endorsement of US President Joe Biden’s ceasefire proposal. “We, the Leaders of the Group of Seven (G7), fully endorse and will stand behind the comprehensive deal outlined by President Biden that would lead to an immediate ceasefire in Gaza, the release of all hostages, a significant and sustained increase in humanitarian assistance for distribution throughout Gaza, and an enduring…

North Petroleum International Company (NPIC), the Egyptian subsidiary of China’s Zhen Hua Oil, has pledged to invest $78 million to increase its production in Egypt’s Western Desert, Al Mal News reported.

The InstaPay App will introduce a new feature enabling instant payments between individuals via a QR code within a few days

The report emphasizes that the Government’s SOE reform programme is outlined in the recent SOP, subsequent policy statements, and associated regulations