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Egypt Seeks Power Linkage with Europe

Egypt is continuously strengthening power linkage lines with neighboring countries. (Getty Images)
Egypt is continuously strengthening power linkage lines with neighboring countries. (Getty Images)
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Egypt Seeks Power Linkage with Europe

Egypt is continuously strengthening power linkage lines with neighboring countries. (Getty Images)
Egypt is continuously strengthening power linkage lines with neighboring countries. (Getty Images)

Egypt is continuously strengthening power linkage lines with neighboring countries such as Jordan, Sudan, and Libya, announced Minister of Electricity Mohamed Shaker.

He said the goal in the coming period would be achieving electrical linkage with Europe through maritime cables, which will reach a number of countries in the continent.

He confirmed that the launch of power projects to connect with Libya is a fundamental and strategic goal for the two countries, reported the Middle East News Agency (MENA).

Egypt succeeded in generating electricity to Libya through already existing projects, said Shaker.

The Ministry is studying a huge project for power linkage with Cyprus, Crete and eventually Greece, he revealed.

“When this project is complete, Cairo will be a central hub for electrical interconnection between three continents as Egypt is already electrically connected with both Jordan and Libya,” he said.

Egypt has close relations with Greece and Cyprus, and the three countries regularly hold summits within the framework of their energy cooperation in the Mediterranean.

In December, Egyptian President Abdel Fattah al-Sisi stressed that the cooperation stems from balanced positions based on respect, good neighborliness, and mutual interests for the security and stability of the Eastern Mediterranean region.

Egypt is also exploring another project that would add power linkage with Saudi Arabia at peak consumption times throughout the day, announced Shaker.

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Non-oil Private Sector Growth Boosts Saudi Arabia’s Economic Expansion

A general view of Riyadh, Saudi Arabia. (Reuters)
A general view of Riyadh, Saudi Arabia. (Reuters)
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Non-oil Private Sector Growth Boosts Saudi Arabia’s Economic Expansion

A general view of Riyadh, Saudi Arabia. (Reuters)
A general view of Riyadh, Saudi Arabia. (Reuters)

Saudi Arabia’s non-oil private sector continued to witness steady improvements in operating conditions during May, mainly driven by an expansion in new business and a recovery in customer demand.

This strong performance underscores the resilience of Saudi Arabia’s non-oil economy and its capacity to achieve sustainable growth.

The Riyad Bank Purchasing Managers’ Index (PMI) rose in May, reaching 55.8 points, indicating a strong improvement in business conditions, though still below the peak recorded earlier this year.

These positive figures reflect growing confidence in the sector’s future, with output expectations reaching an 18-month high, signaling operational readiness for continued growth in the second half of the year.

Key findings of the PMI show a notable acceleration in new order growth during May, following a slowdown in April. Companies attributed this increase to stronger demand, robust sales performance, and new marketing initiatives. New orders from abroad also grew, although at the slowest pace in the past seven months.

This positive momentum was mirrored in employment levels, as companies increased their workforce to meet rising production requirements, marking one of the fastest hiring rates in over a decade.

The workforce growth was accompanied by a surge in purchasing activity, which saw its fastest rise since March 2024, reflecting improved supply chain flexibility.

The Kingdom’s non-oil private sector is showing strong confidence in the future, with business expectations reaching their highest level since late 2023.

Business activity rose in May, driven by increased customer demand and production needs, although the overall rate of growth was the slowest since last September. The construction sector played a key role in this growth, recording the strongest increases in both activity and new business.

Despite this strong performance, non-oil firms faced a sharp rise in input costs during May. However, inflation slowed compared to April due to reduced wage pressures.

Conversely, selling prices declined in May, driven by a sharp drop in service sector prices, with companies citing competitive pressures impacting their pricing power.

Commenting on these results, Dr. Naif Al-Ghaith, Chief Economist at Riyad Bank, affirmed that Saudi Arabia’s non-oil economy maintained its strong momentum in May.

He noted that improving demand, robust economic activity, the launch of new projects, and increased labor productivity all contributed to continued growth, despite the pace slowing to its lowest level since September 2024.