The Central Bank of Egypt (CBE) announced that total international reserves rose to US$ 57.214 billion at the end of August 2026, compared to $ 56.293 billion at the end of the preceding month of July. Foreign currency reserves increased by $921 million during August 2026, representing a monthly growth rate of 1.63 percent, to …
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Iran announced on Monday that its negotiations with the Sultanate of Oman regarding the establishment of a safe and temporary shipping lane through the Strait of Hormuz have entered their final stages, anticipating an agreement in the coming days. Iranian Foreign Ministry spokesperson Ismail Baghaei said during his weekly press conference in Tehran that the …
The post Iran announces imminent agreement with Oman on Strait of Hormuz appeared first on Egypt Independent.

The United States plans to propose referring Iran to the UN Security Council over its obstruction of nuclear inspectors, as Tehran announced on Monday that negotiations for a temporary safe transit route in the Strait of Hormuz have reached their final stages while warning against foreign military deployments.   According to a US draft proposal […]
The post US seeks UN Security Council referral for Iran as Tehran claims progress on Hormuz safe transit route first appeared on Dailynewsegypt.

Egypt’s net international reserves rose by $920 million to reach $57.214 billion in August 2026, up from $56.294 billion in July, according to the Central Bank of Egypt (CBE).   The growth was driven by a $1.919 billion increase in the value of gold included in the reserves, which reached $19.058 billion in August compared […]
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Egypt’s trade deficit widened by 58.5 percent in June compared with the previous year, reaching USD 7.5 billion (EGP 382.3 billion) as imports outpaced export growth, according to figures released Monday by the Central Agency for Public Mobilization and Statistics (CAPMAS). In June of 2025, the gap amounted to USD 4.7 billion (EGP 239.6 billion).  On another front, exports climbed 37.4 percent to USD 5 billion (EGP 254.9 billion), up from USD 3.6 billion (EGP 183.5 billion) a year earlier, while imports rose 49.4 percent to USD 12.4 billion (EGP 632.1 billion) from USD 8.3 billion (EGP 423.1 billion), CAPMAS reported in its monthly foreign trade report. Petroleum products drove much of the export growth, more than doubling with a 128 percent increase. Fresh fruit exports rose 77.1 percent, ready-made garments climbed 47.7 percent, and various food preparations increased 36.5 percent. Other categories, however, lagged.  Fertilizer exports fell 12 percent from a year earlier, and pharmaceutical exports declined 13.2 percent. Dried legume exports dropped 42.6 percent, while fresh onion exports slipped 0.4 percent. On the import side, crude oil purchases surged 141 percent, and imports of plastics in primary formContinue reading "Egypt’s Trade Deficit Widens 58.5 Percent as Imports Surge"
The post Egypt’s Trade Deficit Widens 58.5 Percent as Imports Surge first appeared on Egyptian Streets.

“Shemal, yameen. Ehna E-Masryeen!” (“Left, right, we are Egyptians!”) a group of Egyptian fans chant outside Seattle’s iconic Pier 58 stadium. I joined the thousands dressed in red-black-and-white marching from the Central Waterfront to Lumen Field. We were going to war, but it wasn’t a military campaign. We had traded combat fatigues for football jerseys, battle drums for tablas, and helmets for pharaonic headdresses. We, fans of the Pharaohs, were an army of the Egyptian National Football Association. As an Egyptian-American, my parents taught me everything about being Egyptian. They taught me how traffic lines on the road are merely suggestions, how the best communication is done with the hands, and how the secret ingredient in molokhia is the shah’ah (a symbolic gasp). On the night of June 26 in Seattle, during the matches of the 2026 World Cup, standing shoulder to shoulder in a sea of Egyptians chanting “Masr,” (“Egypt”) I understood my parents had given me an Egyptian identity. But, it took marching among thousands of strangers, singing until my voice gave out, to actually feel it. That was the day of Egypt’s final Group Stage match, aContinue reading "Masr! What the World Cup Taught Me About Being Egyptian"
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The United Arab Emirates (UAE) is expanding ports, pipelines, railways, and alternative trade corridors to reduce its reliance on the Strait of Hormuz and safeguard energy exports and trade amid the ongoing US-Iran conflict, UAE presidential adviser Anwar Gargash said, according to Reuters. Speaking at the Hili Forum in Abu Dhabi, Gargash said the UAE’s […]
The post UAE Boosts Clean Energy, Trade Routes Amid Hormuz Crisis first appeared on Egypt Oil & Gas.

Global diesel supply is expected to remain tight amid limited spare refining capacity, Russia’s export ban, and rising winter demand, industry executives said, as reported by Reuters. Vitol CEO Russell Hardy said around 2 million barrels per day (mmbl/d) of Russian products and nearly 2 mmbbl/d from the Middle East are missing from global markets […]
The post Global Diesel Market Faces Further Supply Tightness Ahead of Winter first appeared on Egypt Oil & Gas.