Egypt explores localisation of electrical equipment manufacturing with Chinese firms
Mahmoud Essmat, Minister of Electricity and Renewable Energy, concluded his meetings and field visits during his current trip to China with a series of discussions aimed at strengthening cooperation and advancing the localisation of electrical equipment manufacturing in Egypt. Talks also covered plans to establish a factory to localise gas-insulated cable technology, in addition to producing a range of equipment supporting cable line installation and smart monitoring systems. These efforts fall within the Ministry of Electricity and Renewable Energy’s broader strategy to support domestic industry, localise modern technologies and expand the manufacture of electrical equipment. He pointed to existing electricity interconnections and trade agreements that enhance Egypt’s position as a gateway for regional energy cooperation and equipment exports. Essmat also outlined ongoing efforts to support and develop the electricity system, highlighting the national energy strategy and the progress achieved in recent years to position Egypt as a regional hub for electrical equipment manufacturing.
Source:Daily News Egypt
December 28, 2025 18:01 UTC
Egypt, Djibouti sign key agreements to boost cooperation in ports, logistics
The visit began with a comprehensive presentation outlining the mandate, key projects, and strategic initiatives of DPFZA, followed by an expanded meeting to review current and future opportunities for cooperation. Egyptian companies expressed full readiness to cooperate and contribute to these projects in line with the highest international standards. During the meeting, Al-Wazir praised the strong historical and brotherly ties between Egypt and Djibouti, stressing Egypt’s commitment to following up on the outcomes of President Abdel Fattah Al-Sisi’s visit to Djibouti in April 2025. The Green Port Solar Project is regarded as a cornerstone for ensuring sustainable operations at the Doraleh port, aiming to provide clean and stable energy while reducing exposure to global fuel price volatility. These agreements underscore Egypt’s expanding regional role in infrastructure, logistics, and renewable energy, while reinforcing Djibouti’s position as a strategic gateway for international trade in the Horn of Africa.
Source:Daily News Egypt
December 28, 2025 18:00 UTC
Minister of Public Enterprises reviews hotel development projects with TMG
Minister of Public Enterprises Sector Mohamed El-Shimy met with Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group Holding (TMG), and his accompanying delegation at the Ministry’s headquarters in the New Administrative Capital to review the latest developments in joint hotel investment projects. Discussions focused on prospects for continued cooperation and the progress of major hotel development projects that add significant value to Egypt’s tourism sector, most notably the expansion of the historic Mena House Hotel overlooking the Giza Pyramids. The project is being implemented through Legacy Company, a partnership between EGOTH—an affiliate of the Holding Company for Tourism and Hotels under the Ministry of Public Enterprises Sector—and ICON, a subsidiary of Talaat Moustafa Group. The development aims to enhance the hotel’s operational efficiency and service quality in line with the highest international standards. During the meeting, Minister El-Shimy reaffirmed the Ministry of Public Enterprises Sector’s commitment to supporting serious investment partnerships—particularly with leading national entities—to develop hotel infrastructure, increase accommodation capacity, maximize economic returns, and advance the state’s objectives for sustainable tourism development.
Source:Daily News Egypt
December 28, 2025 18:00 UTC
International financial institutions weigh increased investment in Egypt’s water sector
Egypt is seeking to scale up private sector investment and concessional financing for water desalination projects through a coordinated effort with a coalition of international financial institutions, the Minister of Planning, Economic Development and International Cooperation said. The talks, held under the directives of Prime Minister Mostafa Madbouly, focused on the water pillar of the NWFE national country platform. The initiative aims to enhance climate resilience and sustainable water resource management through public-private partnerships. “The water sector represents a key pillar of cooperation with international institutions and development partners,” Al-Mashat said, noting that joint efforts are designed to incentivise greater private sector participation in line with state development priorities. The meeting included high-level representation from the French Development Agency (AFD), the Japan Bank for International Cooperation (JBIC), the German Development Bank (KfW), and the Japan International Cooperation Agency (JICA).
Source:Daily News Egypt
December 28, 2025 18:00 UTC
Gold prices rise by EGP 265 over past week
The Gold and Precious Metals Division at the Federation of Egyptian Industries announced that gold prices in the local market recorded strong gains over the past week, supported by a historic surge in global gold prices and the relative stability of the US dollar exchange rate against the Egyptian pound. Ehab Wassef, Head of the Gold and Precious Metals Division, stated that the price of 21-karat gold rose by 4.59%, equivalent to EGP 265 per gram. Trading opened at EGP 5,775 per gram at the beginning of the week and closed at EGP 6,040 per gram, with prices ranging between a weekly low of EGP 5,775 and a high of EGP 6,040. As a result, local gold price movements have closely mirrored changes in global ounce prices. Wassef noted that global gold prices successfully broke through the psychological level of $4,500 per ounce, supported by strong upward momentum despite being in overbought territory.
Source:Daily News Egypt
December 28, 2025 18:00 UTC
CBE, EBI launch ‘Foundations of Fraud Combating’ training programme for banking employees
In this context, Mostafa Khidr, General Manager of the Fraud Combating and Financial Crimes Centralized Department at the CBE, stated that the programme represents a strategic opportunity to enhance awareness and build a shared understanding of various fraud practices and the frameworks for combating banking fraud. He emphasized that the programme supports faster response mechanisms, the application of effective mitigation techniques, and the establishment of a clear and unified definition of banking fraud. For his part, Abdel Aziz Nossier, Executive Director of the EBI, highlighted that the launch of the new training programme marks another milestone in ongoing efforts to strengthen the capabilities of banking professionals. Nossier also underscored that investment in human capital development is a cornerstone of building a more secure and sustainable banking sector. The newly launched programme is designed to enhance the capacity of banking sector employees to detect and mitigate fraud risks.
Source:Daily News Egypt
December 28, 2025 17:59 UTC
ACUD launches smart licensing system to streamline urban development in New Capital
The Administrative Capital for Urban Development (ACUD) has announced the completion of the first phase of its smart licensing and ministerial approvals system, marking a major transformation in the review of urban designs and the issuance of construction permits in Egypt’s New Administrative Capital. This collaboration ensures unified technical and regulatory standards, while strengthening accuracy, transparency and digital governance. In its first phase, the system enables developers and authorised representatives to register electronically, submit and track urban development project data online, and access approved building codes and technical requirements specific to the New Capital. It also allows for the electronic submission and real-time follow-up of applications for master plan approvals and ministerial decisions, alongside digital technical reviews of buildings. The company added that the second phase of the smart licensing and approvals system will introduce electronic payment for licensing and technical review fees, digital approvals and electronic signatures for master plans, and automated technical reviews of urban development master plans, further advancing the city’s digital urban management framework.
Source:Daily News Egypt
December 28, 2025 17:27 UTC
Jawad Developments appoints Eltizam Egypt to manage Val Plaza Mall in west Cairo
Jawad Developments has announced a partnership with Eltizam Egypt, a provider of integrated asset and facilities management services, to manage and operate the Val Plaza project in 6th of October City, west Cairo, ahead of the mall’s opening in the first half of next year. Abdel Jawad said the decision to partner with a specialised firm with proven asset management expertise is a strategic move to ensure Val Plaza is professionally operated from day one. He added that the partnership with Eltizam Egypt aims to enhance the project’s overall value and maximise investment returns for Val Plaza clients, while delivering high standards of comfort, safety and service for visitors. Val Plaza is being developed on a total area of about 6,250 square metres and comprises 285 multi-use units. Abdel Jawad added that Val Plaza Mall reflects Jawad Developments’ vision of responding to current market dynamics by introducing an integrated commercial model focused on flexibility and operational efficiency.
Source:Daily News Egypt
December 28, 2025 17:05 UTC
Egypt to automatically enrol cash support beneficiaries in comprehensive health insurance
Egypt will automatically register all citizens currently enrolled in state-approved cash and social support programmes, such as Takaful and Karama, into the country’s comprehensive health insurance system, Prime Minister Mostafa Madbouly announced on Sunday. The move is part of a broader government effort to provide high-quality healthcare to the most vulnerable groups within existing social protection frameworks. Madbouly stated that the government is focused on strengthening social protection for target groups through integrated databases and comprehensive technical, economic, and social studies. He emphasised the state’s commitment to the “low-income” segment and the provision of various protection programmes to ensure a “decent life” for them. The meeting concluded with an emphasis on the total digitisation of the subsidy system.
Source:Daily News Egypt
December 28, 2025 17:02 UTC
Golden Land Development launches EGP 5bn Naseem residential compound in Sheikh Zayed
Golden Land Development has launched its first residential project, the Naseem compound, in the Green Revolution area of Sheikh Zayed City, with total investments estimated at EGP 5bn. The project is chaired by Kotb Mokhtar, with executive management led by Mohamed Hamdy, chief executive officer, and Ahmed Abdel Rahman, chief commercial officer. The development comprises residential units ranging from one to four bedrooms. Project implementation is overseen by CEO Mohamed Hamdy in cooperation with ADC, with Sheikh Abdulaziz bin Nasser Al Thani contributing advisory expertise in luxury residential and commercial developments. Golden Land Development has previously delivered several projects, including Mini Compound Ladress, Stip Mall and developments in Beit Al Watan, forming part of the company’s growing portfolio in Egypt’s real estate market.
Source:Daily News Egypt
December 28, 2025 17:02 UTC
Madbouly outlines new legislative framework to regulate Egypt’s real estate market
Prime Minister Mostafa Madbouly said the government is working on a new legislative and institutional framework to better regulate Egypt’s real estate market, with the aim of enforcing market discipline, protecting citizens’ rights and supporting serious, financially capable developers. Under the new system, real estate developers would be classified according to their financial solvency and execution track record, ensuring companies do not undertake projects beyond their capabilities. Addressing concerns over market conditions, Madbouly dismissed claims of a slowdown in the real estate sector, noting that property sales in 2025 exceeded those recorded in previous years. Madbouly also pointed to progress in establishing a unified real estate registration system through the national real estate identification number. Madbouly concluded that the government remains committed to building a more organised, transparent and sustainable real estate market that underpins long-term urban development while protecting investors, developers and citizens alike.
Source:Daily News Egypt
December 28, 2025 17:02 UTC
Local Development Minister reviews Aswan’s EGP 52.3m waste projects, Haya Karima progress
Egypt has invested EGP 52.3m to develop the solid waste management system in Aswan governorate, Minister of Local Development and Acting Minister of Environment Manal Awad announced on Sunday. A further EGP 16m was allocated to remove 147,000 tonnes of accumulated waste, Awad said during a meeting with Aswan Governor Ismail Kamal at the ministry’s headquarters in the New Administrative Capital. The meeting addressed plans to offer several waste recycling plants to the private sector for development and operation. Awad and Kamal also reviewed the executive status of the first phase of the “Haya Karima” (Decent Life) presidential initiative. The discussions also covered the governorate’s investment plan for the 2025/2026 financial year, which focuses on road paving, environmental improvements, and local economic development.
Source:Daily News Egypt
December 28, 2025 17:01 UTC
Egypt’s food industry exports exceed $6.3bn in 11M 2025
The European Union ranked second, with exports totalling $1.263bn, accounting for 20% of total exports, and recording growth of 15%, equivalent to an increase of $168m. Exports to non-Arab African markets reached $469m, representing 8% of total exports, with performance broadly unchanged year on year. Exports to the United States recorded particularly strong growth, reaching $402m, an increase of 35%, or $105m. Exports of prepared animal food products rose sharply to $231m, recording growth of 51%, as demand expanded in African and Asian markets. Overall, the main food commodities accounted for around 89% of total Egyptian food industry exports during the first eleven months of 2025, with a combined value of $5.653bn out of total exports of $6.339bn, underscoring the sector’s strong export concentration and growing international footprint.
Source:Daily News Egypt
December 28, 2025 17:01 UTC
Egypt’s SOKNA turns to private-sector solutions to ease cemetery shortages amid rising demand
Egypt’s private funeral and burial services sector is stepping in to address a growing challenge: an acute shortage of cemeteries in major urban centres. SOKNA, Egypt’s first company to provide organised funeral services, has announced plans to collaborate with the government to modernise the construction and management of cemeteries, offering families a more structured and dignified alternative. Many existing burial sites are outdated, some lack proper legal documentation, and there is no unified system governing cemetery management. The company has positioned itself as a strategic partner in Egypt’s national cemetery development plan, bringing in investors with experience in urban development, construction and large-scale infrastructure projects to ensure financial sustainability and professional management. Gaballah added that SOKNA’s operations have been carefully planned since its launch in 2019, covering everything from funeral organisation to the long-term development of burial services.
Source:Daily News Egypt
December 28, 2025 17:01 UTC
FM to Norwegian counterpart: Concerted global efforts key to consolidating Gaza ceasefire
Minister Abdelatty reaffirmed Egypt’s rejection of any practices that undermine the unity of Palestinian territories or impose new realities in the West Bank. The spokesperson added that the call addressed the situation in Sudan, where the Foreign Minister briefed his Norwegian counterpart on Egypt’s efforts within the Quartet mechanism to push toward a comprehensive ceasefire. In this regard, he reaffirmed Egypt’s firm stance in supporting Sudan’s unity, sovereignty, and stability, as well as safeguarding its national institutions. He also expressed Egypt’s categorical rejection and condemnation of violations of established principles of international law and the UN Charter. The two ministers agreed on the importance of respecting the sovereignty and territorial integrity of nations to maintain the stability of the international order.
Source:Egypt Independent
December 28, 2025 16:33 UTC