El-Sisi Appoints Hassan Abdalla as CBE’s Acting Governor

• Thursday, 18th August 2022
• by Fatma Ahmed

President Abdel Fattah El-Sisi has appointed Hassan Abdalla,  the CEO of United Media Services (UMS), as Acting Governor of Central Bank of Egypt (CBE), according to Al-Ahram. El-Sisi has accepted the resignation of T...

State Allocates EGP 680.56 B to EGPC’s FY 2020/21 Budget

• Wednesday, 8th July 2020
• by Editorial Team

The Egyptian General Petroleum Corporation’s (EGPC) budget for the fiscal year (FY) 2020/21 was set at EGP 680.56 billion, according to the state’s official gazette. EGPC’s  expenses for the current FY were estimated ...

Oil Trade Balance Records Surplus

• Tuesday, 1st October 2019
• by Editorial Team

The oil trade balance recorded a surplus for the first time since Fiscal Year (FY) 2012/13, registering $8.1 million as a result of the leap in investments in the oil and gas sector, a press release by the Central Ban...

MSMEDA Turns 34,400 Vehicles into Gas-Powered Ones

• Tuesday, 30th July 2019
• by Editorial Team

Micro, Small and Medium Enterprise Development Agency (MSMEDA) funded 34,400 vehicles to operate with gas via EGP 274 million, Almal News reported. MSMEDA CEO, Nevin Gamea, stated that President Abdel Fattah El Sisi i...

Egypt Pays $30B to Foreign Bodies in 2017

• Thursday, 4th January 2018
• by Editorial Team

Egypt paid $30 billion to foreign bodies in 2017, and is committed to pay over $12 billion in debts and commitments in 2018, Egypt Independent reported, citing sources in the Central Bank of Egypt (CBE). In addition t...