Saudi Arabia has launched a major international initiative to safeguard global shipping lanes, securing the backing of 14 countries for a proposed Maritime Defense Alliance as escalating conflict between the US and Iran raises fresh concerns over the security of two of the world's most important maritime trade corridors — the Strait of Hormuz and the Suez Canal.
The UAE and Egypt have agreed to gradually expand bilateral air traffic rights over the next five years under a phased framework aimed at meeting rising travel demand, creating new opportunities for airlines and strengthening economic integration between the two countries.
Marriott International has signed a landmark agreement with Misr Italia Properties and People & Places to develop nine hospitality projects across Egypt, adding more than 1,500 hotel rooms and branded residences as the country expands its tourism and real estate sectors.
Explosions hit a natural gas loading port on the Mediterranean Sea in Egypt on Wednesday, and British maritime security company Ambrey said a US-owned floating storage tanker there had been hit by a drone, said media reports in a potential spread of the Middle East war.
TotalEnergies and Eni have approved the development of Cyprus’ Cronos gas field, with first production targeted for 2028. The project will supply European markets through Egypt’s LNG infrastructure, reaching around 2.8 million tonnes annually.
Egypt’s crude oil production has reached a near two-year high as petroleum exports topped 2.3 million tonnes in H1 2026, generating $2.3 billion. The government is also advancing $4.5 billion in refinery projects to boost output and exports.
Egypt will launch a digital visa-on-arrival system on August 1, 2026, starting at Cairo International Airport before expanding nationwide to modernise entry procedures and enhance the visitor experience.
Khalda Petroleum has begun production from the newly discovered Wanda deep gas well in Egypt’s Western Desert, with an initial output of 40 million cubic feet per day (mmcf/d), Egypt’s Ministry of Petroleum and Mineral Resources announced.
Accor and Egyptian real estate developer Trust Contracting and Real Estate Investment Company have signed an agreement to develop ibis North Coast Sidi Kerir, a new 200-key hotel scheduled to open in the fourth quarter of 2029.
Twma, a global provider of drilling waste management solutions, has secured a three-year contract extension with a major operator in Egypt, following the completion of an initial three-year agreement.
