🇪🇬EgyptNorth Africa
Egypt to end early shop closures, incentivize solar energy transition
via Egypt Today1 min read
During a Crisis Management Committee meeting on Sunday, Prime Minister Mostafa Madbouly ordered the rapid launch of an incentive initiative for factories and households to transition to solar energy. The committee also approved ending the mandatory 11 p.m. closure for shops, malls, and restaurants, allowing them to return to previous standard operating hours, according to Cabinet Spokesperson Mohamed El-Homsani. Officials at the meeting reviewed global economic projections, which indicate a slowdown in growth. The International Monetary Fund forecasts global growth to decrease to 3.1% in 2026 from 3.4% in 2025. A more significant decline to 1.1% is expected for the Middle East and North Africa region due to increasing commodity prices and investor risk aversion. The Ministry of Planning also noted that global trade growth is projected to fall from 5.1% in 2025 to 2.8% in 2026 amid fluctuating inflation trends.
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This summary was AI-generated from a story originally published by Egypt Today.
Petroleum Marine Services has submitted an application to the Egyptian Exchange EGX for listing its shares on the main market. The EGX received the request on June 11, 2026, and is currently reviewing the company's documents and requirements before forwarding the file to the Listing Committee for a decision. The proposed issued capital for listing is nearly $120 million, comprising 12 million shares at a nominal value of $10 each. This move is an initial step towards the listing, pending regulatory completion and committee approval. Petroleum Marine Services, a leading company affiliated with the Egyptian General Petroleum Corporation, specializes in offshore and marine contracting for the oil and gas industry. This development aligns with the government's initiative to list state-owned companies on the EGX, with 12 companies already listed and preparations underway for others, including 10 from the petroleum sector.
The Egyptian Ministry of Agriculture has initiated a series of measures to control the Fall Armyworm FAW in corn fields. These actions include mandatory, periodic field inspections for early detection and eradication before infestations reach critical levels. Specialized agricultural control engineers will provide farmers with technical guidance on proper spraying methods and optimal control timing. High-quality, approved pesticides are available at subsidized prices through local agricultural departments and cooperative associations. The FAW was first reported in Egypt in May 2019 in Aswan governorate and has since spread, posing a significant threat to corn crops. According to Hussein Abdel-Rahman Abu Saddam, Head of the General Syndicate of Farmers, the FAW has devastated thousands of acres and affects over 80 types of agricultural crops in Egypt. The pest, which entered Africa in 2016 from America, can travel up to 100 km per day, with females laying approximately 2,000 eggs during their lifespan.
President Abdel Fattah El-Sisi emphasized the need to continue developing Egypt’s administrative apparatus to boost efficiency and effectiveness, enabling it to meet the demands of comprehensive development. During a meeting with state officials on June 11, 2026, El-Sisi directed the optimization of resources and the achievement of higher levels of governance and institutional effectiveness. He also called for maintaining standards of competence, merit, and transparency across all procedures within the state administrative system. The President reviewed progress in the governance of new state appointments, promotions, and appointments within leadership positions as part of his ongoing follow-up on administrative reform. These efforts include human-capital development and preparing leaders to drive institutional and societal transformation, thereby enhancing Egypt’s regional and international standing. Discussions highlighted that reforming the state administrative apparatus is a comprehensive process involving human resource development, infrastructure upgrades, and the reorganization of structural and administrative relationships among government entities. The meeting also covered the implementation of institutional development projects, the expansion of electronic evaluation tools, and efforts to modernize work and training mechanisms. Attendees included Prime Minister Mostafa Madbouly, Commander-in-Chief of the Armed Forces and Minister of Defense and Military Production L