Egypt’s engineering exports target $7.5bn in 2026 after record-breaking year
Sherif El-Sayad, Chairperson of the Engineering Export Council, attributed the strong performance to an expanding exporter base, improved global competitiveness of Egyptian engineering products, and a strategic shift towards higher value-added industries. Engineering exports rose from $2.29bn in 2020 to $3.497bn in 2021, $3.841bn in 2022, $4.625bn in 2023, and $5.73bn in 2024, before reaching $6.482bn in 2025. Automotive components surpassed the $1bn mark, while electrical industries recorded exports of $643.2m and transport equipment reached $267.5m, highlighting the sector’s diversified export base. Markets and geographic spreadEurope remained the largest regional destination for Egyptian engineering exports in 2025, absorbing nearly $3bn, up 16% year on year. Outlook and 2026 roadmapLooking ahead, the Engineering Export Council is targeting exports of $7.5bn in 2026, aiming for sustainable annual growth of around 15%.
Source:Daily News Egypt
February 02, 2026 15:04 UTC
Egypt’s PM orders acceleration of coastal protection projects to counter climate change
Prime Minister Mostafa Madbouly on Monday ordered the immediate resolution of any financial or technical obstacles hindering the completion of Egypt’s coastal protection projects, citing the urgent need to address climate change risks. The directive followed a meeting to review the executive status of projects managed by the Egyptian General Authority for Shore Protection. In Damietta, the Ministry is overseeing dredging works southwest of the Boghaz Muthalath Al-Deeba as part of the second phase of the Manzala Lake development. According to the Irrigation Minister, these works are designed to improve water quality and enhance fish stocks within Manzala Lake. The briefing was attended by the ministers of planning and economic development, irrigation, local development, and finance, alongside officials from the Armed Forces Engineering Authority.
Source:Daily News Egypt
February 02, 2026 15:04 UTC
PM reviews efforts to strengthen power supply nationwide
Prime Minister Mostafa Madbouly said that the electricity and energy sector remains a top state priority because of its role in supporting development, improving services, and encouraging investment. These remarks were made during a meeting with Minister of Electricity and Renewable Energy Mahmoud Esmat, who reviewed recent progress in the power system. For his part, the minister said that 34 new transformer stations were completed and connected to the national grid last year, alongside expansions at 40 other stations, in addition to extending thousands of kilometers of transmission and distribution lines. The meeting also reviewed measures to reduce power losses and address illegal connections, as well as updates on the El Dabaa Nuclear Power Plant. Additionally, Esmat affirmed that work on the project is advancing in coordination with the Russian side under a defined timetable, within Egypt’s peaceful nuclear energy program and in line with Vision 2030, to meet rising demand and support energy security.
Source:Egypt Independent
February 02, 2026 11:42 UTC
Why have cigarette prices in Egypt risen?
Smuggled cigarettes currently account for about 30 percent of the market, he noted, which has led to a noticeable decline in sales for official companies and the loss of a large part of their market share. This has prompted them to try to compensate for the losses by raising prices. Embaby noted that the state loses billions of pounds annually in taxes and customs duties to unregulated illicit trade. The solution does not lie in pricing decisions, he said, but rather in tightening border controls and intensifying the role of customs and supply investigations to dismantle smuggling networks at their source. Embaby stressed that confronting smuggling is the only way to protect the industry and achieve balance in the tobacco market.
Source:Egypt Independent
February 02, 2026 11:42 UTC
Trump says Kennedy Center will close in July for two-year renovation
CNN has reached out to the Kennedy Center and the White House for additional details. Staff at the Kennedy Center found out about the two-year renovation plan via the president’s social media post, a source familiar with the matter told CNN on Sunday. He hosted the Kennedy Center Honors in December, doling out awards to Sylvester Stallone, the rock band KISS and Gloria Gaynor. The Kennedy Center, which opened in 1971 in Washington, DC, was designated as a memorial to President John F. Kennedy following his assassination in 1964. Trump’s efforts to leave his aesthetic stamp on Washington have extended beyond the Kennedy Center.
Source:Egypt Independent
February 02, 2026 11:42 UTC
Russian drone strike on bus in Ukraine kills 12 miners
At least 12 people have been killed and eight others wounded after a Russian drone struck a bus in Ukraine’s southeastern Dnipropetrovsk region on Sunday, authorities said. Serhii Beskrestnov, an adviser to Ukraine’s Defense Minister, said that a Shahed drone struck near the bus, causing the bus to swerve into a fence. As the injured passengers began to exit the bus, a second drone was directed “directly at the civilians,” he said. A rescue worker clears debris in a damaged maternity hospital following a Russian strike in Zaporizhzhia on Sunday. Russian state media outlet TASS later also reported that the talks would take place for “the middle of the week,” citing a source.
Source:Egypt Independent
February 02, 2026 11:42 UTC
PM inspects Minya University Triple Hospital after start of trial operation
MINYA, Egypt, Jan 31 (MENA) – Prime Minister Mostafa Madbouly inspected on Saturday the Minya University Triple Hospital following the start of its trial operation. The move came during the prime minister’s tour of Minya Governorate. Upon his arrival, the prime minister expressed his happiness at the presence of this large and distinguished medical facility in one of Upper Egypt’s governorates, reflecting the state’s commitment to supporting healthcare services across the country. The Prime Minister toured several hospital departments to review the facilities and medical services provided.
Source:Egypt Independent
February 02, 2026 10:30 UTC
PM: health, education top State priorities
Prime Minister Mostafa Madbouly said the health sector stands at the top of Egypt’s national priorities, affirming the government’s great efforts to present advanced medical services to Upper Egypt that were not previously available. The Premier added that the garments factory provides thousands of jobs, about 90% held by women, with expansion plans over the next two years are expected to triple employment to more than 9,000 workers. He noted that most output from the garments and agricultural processing plants is export-oriented, supporting foreign currency inflows and narrowing the trade gap. Madbouly went on to say that the government’s factory visits are intended to hear directly from investors, address challenges quickly, and enable expansion. He also added that the tour also covered Hayah Karima “Decent Life” projects, including villages such as Tuna el-Gabal and Beni Hassan el-Shorouk, and a triple sewage treatment plant serving more than 80,000 residents who previously lacked sanitation services.
Source:Egypt Independent
February 02, 2026 10:30 UTC
Will the House of Representatives change Egypt’s old rent law?
The head of the parliamentary bloc of the Tagammu Party, MP Atef Maghawry, said on Sunday that the new parliament intends to amend the old rent law. Maghawry referred to statements by the head of the parliamentary housing committee, who said that the rent law would be on the agenda due to issues in its implementation. Egyptian President Abdel Fattah al-Sisi ratified Law 164 of 2025, which regulates rent laws and reorganizes the relationship between landlords and tenants in August, after it was approved by the House of Representatives. The law specifies how the monthly rent amount will be calculated after the law is implemented. The law classifies areas into three categories: “distinguished,” “medium,” and “economic.”According to the latest census issued by the Central Agency for Public Mobilization and Statistics in 2017, approximately 1.64 million families, representing 6.13 million individuals, live in rental units under the old rental system.
Source:Egypt Independent
February 02, 2026 09:08 UTC
Turkey set to invest $500 million in Egypt during 2026: Expert
A member of the Egyptian Businessmen’s Association and head of the Tax and Finance Committee of the Egyptian-Lebanese Businessmen’s Association, Rami Fathallah, anticipates that Turkey will invest over US$500 million in Egypt during 2026, in vital industrial and commercial sectors. Fathallah explained that these investments are expected to be concentrated primarily in the spinning, weaving, dyeing, and finishing sectors, in addition to various industrial and commercial projects. Encouraging foreign investmentsHe emphasized the importance of stimulating foreign investments, particularly Turkish, through unconventional tax and procedural incentives that go beyond traditional investment attraction frameworks. Fathallah emphasized that the textile sector represents one of the most prominent areas of Egyptian-Turkish cooperation, given the accumulated expertise and manufacturing and technological capabilities of both sides. He pointed out that these anticipated investments could contribute to boosting Egyptian exports, transferring technology, and creating direct and indirect job opportunities.
Source:Egypt Independent
February 02, 2026 09:08 UTC
Planning Minister highlights Egypt’s Narrative for Comprehensive Development at Cairo Book Fair
Cairo International Book Fair 2026 hosted Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, in a seminar organized by the NAWA Foundation, discussing “Egypt’s Narrative for Comprehensive Development: Reforms for Growth, Jobs and Resilience.”The seminar, moderated by Abdel Moneim Said, brought together economists, university professors, and visitors to review the country’s integrated development framework. Al-Mashat highlighted that the Narrative was developed to integrate Egypt Vision 2030 with the Government Program, responding to global economic changes since 2020. The Narrative also links development outcomes to financial performance through a programs-and-performance approach, promoting accountability and sustainable growth. Public investment governance has opened space for private sector growth, with private investments now accounting for 65% of total investments and a target of over 70% by 2030. The Minister also discussed policies enhancing private sector empowerment, competitive neutrality, and business environment reforms under the National Structural Reforms Program.
Source:Daily News Egypt
February 01, 2026 19:44 UTC
CBE to launch $950m T-bill tenders on Monday
The Central Bank of Egypt (CBE) is set to offer a local treasury bill tender denominated in US dollars on Monday, valued at $950m. The proceeds of the tender will be used to repay the maturity of a previous tender launched on 4 February 2025, under which bids worth $1.061bn were accepted and are due to mature on Tuesday. CBE had previously received 26 bids worth $937m to cover a similar tender launched on 29 December 2025 with a value of $800m. Subscription to these dollar-denominated treasury bills is open to local banks and foreign institutions, with a minimum subscription of $100,000 and its multiples. Each primary dealer bank submits its subscription request to CBE, specifying the amount it wishes to invest and the interest rate it seeks.
Source:Daily News Egypt
February 01, 2026 19:44 UTC
Egypt and UN-Habitat, Egypt to expand sustainable urban development partnership
Egypt’s Minister of Housing, Utilities and Urban Communities Sherif El-Sherbiny met with Ahmed Rizk, Director of the United Nations Human Settlements Programme (UN-Habitat) Office in Egypt, to discuss expanding cooperation on sustainable urban development and the Egypt Vision 2030 agenda. The meeting focused on establishing priorities for joint work following the 12th World Urban Forum (WUF) held in Cairo. Rizk expressed UN-Habitat’s interest in documenting and sharing Egypt’s pioneering experience in social housing and new city development with other nations. Officials from the Ministry of Housing and the New Urban Communities Authority also attended the session, where they reviewed proposed projects aimed at achieving balanced urban growth across the country. El-Sherbiny stated that the ministry remains committed to deepening the partnership to support the state’s strategy for comprehensive development.
Source:Daily News Egypt
February 01, 2026 19:44 UTC
Egypt issues first procedural guide for state-funded treatment programme
The health ministry said the move reflects Egypt’s commitment to citizens’ constitutional right to equitable and comprehensive healthcare. The state-funded treatment scheme remains a key pillar of Egypt’s healthcare system until the nationwide rollout of universal health insurance is completed. Abdel Ghaffar said the guide aims to unify working standards across the General Administration of Specialised Medical Councils and simplify the documentation cycle required to obtain treatment approvals. The ministry said the guide also specifies requirements for renewing treatment approvals to ensure transparency and uninterrupted access to care. The health ministry reaffirmed its commitment to further healthcare reforms and urged medical facilities to comply with the new procedural framework.
Source:Daily News Egypt
February 01, 2026 19:44 UTC
M squared extends partnership for fifth Saqqara Half Marathon featuring new 21km distance
Egyptian real estate developer M squared has extended its title sponsorship of the Saqqara Half Marathon for a third consecutive year, as the event prepares to introduce a 21-kilometre distance for the first time. The fifth edition of the race, organized by The TriFactory, is scheduled for Friday, 13 February 2026. The 2026 edition will feature 5km and 10km distances alongside the new 21km half marathon. Ayman Hakky, founder and CEO of The TriFactory, said the introduction of the half marathon distance resulted from years of planning within the historic environment. “Reaching a fifth edition and introducing the half marathon distance is the cumulative result of years of planning on the ground,” Hakky said.
Source:Daily News Egypt
February 01, 2026 19:42 UTC