Latest news with #IbrahimShika
See - Sada Elbalad
20-07-2025
- Business
- See - Sada Elbalad
Egypt's Petroleum Exports Surge 74.3% ... Ready-Made Garments, Fertilizers See Significant Growth
Taarek Refaat Egypt's exports witnessed impressive growth in April 2025, with key sectors posting notable increases, according to the Central Agency for Public Mobilization and Statistics (CAPMAS), The petroleum products exports stood out with a remarkable surge of 74.3%, reaching $403.1 million in April 2025, compared to $231.2 million in the same month of 2024. This uptick reflects both stronger global demand and improved production dynamics within Egypt's petroleum sector. In addition, ready-made garments saw a notable rise in exports, increasing by 24.7% to $223.1 million in April 2025, up from $178.9 million in the previous year. This growth aligns with Egypt's efforts to boost its textile and apparel manufacturing sector, which has become a key player in the country's export strategy. The fertilizer sector also posted strong results, with exports increasing by 18.4% to $206.9 million in April 2025, compared to $174.8 million in April 2024. Fertilizers remain a staple of Egypt's agricultural exports, supporting both regional and international demand for high-quality agricultural products. Moreover, processed food products, including pasta and other prepared foods, saw a 51.4% increase in exports, reaching $198.4 million in April 2025, compared to $131 million in April 2024. This significant growth reflects Egypt's expanding role in the global food market, as the country continues to leverage its agricultural and food-processing capabilities. On the whole, Egypt's total exports grew by 19.8% in April 2025, amounting to $4.10 billion, up from $3.43 billion during the same period in 2024. This increase in overall exports underscores the resilience of the Egyptian economy and its ability to tap into diverse markets across multiple sectors. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results News Flights suspended at Port Sudan Airport after Drone Attacks
See - Sada Elbalad
20-07-2025
- Business
- See - Sada Elbalad
CBE Announces Bank Holiday for 23rd July Revolution Anniversary
Taarek Refaat The Central Bank of Egypt (CBE) has announced that all banks operating in the country will be closed on Thursday, July 23, in observance of Egypt's 23rd July Revolution anniversary. The bank confirmed in an official statement today that business operations will resume on Sunday, July 27. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Arts & Culture "Jurassic World Rebirth" Gets Streaming Date Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results News Flights suspended at Port Sudan Airport after Drone Attacks
See - Sada Elbalad
20-07-2025
- Business
- See - Sada Elbalad
CBE Issues T-Bills Worth EGP 65 Billion to Finance Budget
Taarek Refaat In an effort to bridge the gap in the national budget, the Central Bank of Egypt (CBE) announced the issuance of Treasury Bills (T-bills) valued at EGP 65 billion. This move, which is in collaboration with the Ministry of Finance, aims to cover the fiscal deficit for the current year. According to the Central Bank's official statement, the T-bills will have two different maturities: the first offering is worth EGP 30 billion for a 91-day term, while the second is valued at EGP 35 billion for a longer 273-day maturity. Maturity EGP 30 billion for a 91-day term EGP 35 billion for 273-day Weighted Avg. Yield (%) 25.592, 27.487 T-bills are short-term debt instruments issued by governments to manage liquidity and finance budget deficits. These securities typically range from three months to one year and are considered low-risk investments, which makes them attractive to a wide range of investors. The proceeds from the T-bill issuances will be allocated by the Ministry of Finance to support various expenditures within the national budget, ensuring that key fiscal obligations and government projects continue without disruption. This latest T-bill offering comes on the heels of the Central Bank's monetary policy decisions from July 10, 2025. The Monetary Policy Committee (MPC) decided to keep the overnight deposit and lending rates unchanged at 24.00% and 25.00%, respectively. The central bank's main operation rate stands at 24.50%, with the discount rate also fixed at 24.50%. This decision to maintain high interest rates reflects the bank's ongoing strategy to curb inflation and stabilize the national economy, which has been facing external and internal pressures. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Arts & Culture "Jurassic World Rebirth" Gets Streaming Date Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results News Flights suspended at Port Sudan Airport after Drone Attacks
See - Sada Elbalad
20-07-2025
- Business
- See - Sada Elbalad
EGX Concludes Week's First Session with Collective Gains ... Market Cap Gains EGP 16.9 Bln
Taarek Refaat The Egyptian Stock Exchange (EGX) wrapped up its first trading session of the week with broad-based gains, propelled by strong buying activity from both domestic and foreign investors. The market cap saw an impressive rise of EGP 16.9 billion, closing the day at a total of EGP 2.409 trillion. The benchmark index "EGX30" ended the session up by 0.74%, reaching 34,071 points. This positive movement was a clear indication of investor confidence in the market, reflecting an optimistic outlook despite global economic uncertainties. In tandem with the main index "EGX70", which tracks the performance of smaller and mid-sized stocks, surged by 1.68%, closing at 10,298.03 points. The EGX100, which represents a broader spectrum of listed stocks, also gained by 1.5%, settling at 13,937.27 points. The collective growth in indices today is attributed to favorable market conditions, alongside active participation from institutional investors and foreign traders. As the Egyptian economy continues to recover from various challenges, the positive momentum in the stock market indicates a promising outlook for the coming weeks. Experts remain optimistic about the stability and growth prospects of the Egyptian market, particularly with the recent fiscal reforms and economic policies aimed at enhancing investor confidence and boosting economic performance. As we head into the rest of the week, all eyes will be on global economic developments and their potential impact on the local market. However, the solid performance on this first session sets a positive tone for investors looking to capitalize on the opportunities presented by the Egyptian stock exchange. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Arts & Culture "Jurassic World Rebirth" Gets Streaming Date Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results News Flights suspended at Port Sudan Airport after Drone Attacks
See - Sada Elbalad
18-07-2025
- Business
- See - Sada Elbalad
Iraq Resumes Kurdistan Oil Exports after over Two-Year Halt
Taarek Refaat The Iraqi federal government has officially resumed crude oil exports from the Kurdistan Region after a suspension that lasted more than two years, in a move expected to ease tensions between Baghdad and Erbil and boost national export volumes. According to a government statement, crude from Kurdistan's oil fields will now be delivered to Iraq's state oil marketing company SOMO, with the Ministry of Finance pledging a payment of $16 per barrel, either in cash or in kind, to the Kurdistan Regional Government (KRG). This payment arrangement is in line with recent amendments to the federal budget law. The agreement mandates a minimum daily delivery of 230,000 barrels, and according to Kurdistan's own production reports, total output currently stands at 280,000 barrels per day. Of this, 50,000 barrels are allocated for domestic consumption within the region, while the remaining volume is designated for export through SOMO. Under the deal, the KRG will cover production and transportation costs, while all revenues from refined product sales, after deducting those costs, will be transferred to the federal treasury. The resumption of exports comes at a critical time for Iraq, OPEC's second-largest oil producer, which is seeking to stabilize national revenues and streamline energy cooperation between federal and regional authorities. It also arrives amid global oil market fluctuations, with benchmark prices having recently softened due to increased fuel inventories in the United States. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Sports Get to Know 2025 WWE Evolution Results
