Egypt Economic Development Conference

Egypt on August 6 inaugurates a "new Suez Canal" waterway touted as an achievement rivalling the digging of the original, as it seeks to boost both its economy and international standing.

The first cargo ships passed through Egypt's New Suez Canal on July 25 in a test-run before it opens next month, state media reported, 11 months after the army began constructing the $8 billion canal alongside the existing 145-year-old Suez Canal. 

Siemens AG “went to town” on Wednesday by winning an eight-billion-euro order by Egypt to build gas and wind power plants in the country, called the biggest single order in the German multinational’s history.
The announcement came as Egyptian President Abdel Fattah Al-Sisi was on an official visit to Germany.

The Egypt International Economy Conference organized in the Egyptian resort Sharm el-Sheikh in mid-March resulted in a contract worth $36.2 billion.

U.S. Secretary of State John Kerry on March 13 urged business executives to invest in Egypt, praising the government of President Abdel Fattah el-Sisi for ?bold? economic reforms aimed at restoring investor confidence.