International Business
The Commercial International Bank Egypt (CIB) has signed a financing and partnership agreement to support Elsewedy Electric Power Systems Projects in building a combined-cycle power plant in Hungary, worth €58m (around $62.9m). The project is the largest of its kind in Hungary in decades and will become the country's first hydrogen-ready power plant.
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Egypt’s non-oil exports rose 18.8% to $40.578bn in the first ten months of 2025, according to Essam El-Naggar, chairperson of the General Organization for Export and Import Control (GOEIC). This growth underscores the strength of the engineering sector, with exports hitting $1.1bn from January to September. The launch of the International Buyers Mission HATS 2025 in Cairo seeks to further elevate these figures.