The Central Bank of Egypt (CBE) has decided to raise interest rates by 100 basis points after core inflation rate hit a seven-year high in May.

Eni made a new significant gas discovery in the Baltim South West exploration prospect, located in the Baltim South license, in the conventional waters of Nile Delta, offshore Egypt.

Egypt’s government signed a contract with two prominent construction companies to resume the fourth phase of the Cairo metro’s third line, state news agency MENA reported on Wednesday, citing transportation minister Galal El-Saeid.

International credit rating agency Fitch has affirmed Egypt's Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at a 'B' with a Stable Outlook.