Egyptian Foreign Ministry has decided to close three consulates and an embassy abroad and to withdraw a total of 40 diplomats worldwide to cut its budget, said the Ministry Spokesperson Ahmed Abu Zeid in a statement Monday.

The Egyptian military’s economic activities are equivalent to just 1 to 1.5 percent of GDP and not more than 20 percent as some have claimed, President Abdel Fattah al-Sisi said on Tuesday in a televised speech.

International Cooperation Minister Sahar Nasr said on Tuesday that the ministry has attracted US$15 billion in funding in the past year for projects to improve Egypt's economy and help raise living standards, with most of the money allocated to basic infrastructure projects that will boost exports.

The Egyptian Stock Exchange (EGX) opened Wednesday session at a collective rise to its indexes, Youm7 reported.

The Egyptian Natural Gas Holding Company (EGAS) annoucned that Egypt’s production increased last year to 4,360 million cubic feet after new gas discoveries.

Sudan's irrigation minister Moataz Mousa arrived in Cairo late on Tuesday for talks on the mega dam Ethiopia is building on the Nile River, Egypt's state news agency MENA said.

The five-year-long agreement on the supply of petroleum products with Saudi Aramco is still valid and has not been canceled, said Tariq al-Molla, Minister of Petroleum, on Tuesday, but Egypt has alternatives available if Saudi oil supplies are interrupted.

The Ministry of Supply and Internal Trade is currently working to build up a six-month strategic reserve of basic commodities, Minister Mohamed Meselhy said in a press statement on Tuesday.

Egypt expects to cut its trade deficit by $11-$12 billion in 2016 as part of efforts to ease an acute dollar shortage and is encouraging domestic industries to fill the void as imports plummet, Trade and Industry Minister Tarek Kabil said.

An Israeli civilian was killed by gunfire along the border with Egypt on Tuesday, the Israeli military said.

Egypt's President Abdel-Fattah El-Sisi announced on Tuesday the formation of a committee to revise the cases of youth activists detained for non-violent charges in politically related cases

The Suez Canal Economic Zone Authority will start stipulating the use of foreign currency in its utility contracts with investors, the head of the authority Ahmed Darwish announced on Tuesday.

EgyptAir has increased its prices for tickets purchased from Egypt for flights taking off from abroad by 10-20 percent, a source at the airline told Ahram Arabic news website.

Egypt will announce the petroleum companies to float in the bourse in November, with a global road show planned to lure investors, the country's oil minister said in a Tuesday press conference.

Egyptian Oil Minister Tarek El Molla said on Tuesday there was no confirmation yet on whether Saudi petroleum supplies to Egypt would resume in November after being suspended this month.

The case appealing a decision to remove former top auditor Hisham Geneina from his position was postponed on Tuesday due to a change of judges.

Egypt's revenues from the Suez Canal rose in August by 4.3 percent to register $447.6 million compared to the previous month, according to the state’s information website.

The role of Egypt’s military in the economy is likely to decrease in two to three years, Prime Minister Sherif Ismail said in a television interview with CBC.

UN special envoy to Libya Martin Kobler arrived in Cairo on Monday to take part in a trilateral meeting on means of reaching a political settlement in Libya, Youm7 reported.

Egypt’s Red Sea resort of Sharm al Sheikh will host the African Union (AU) annual forum of the high-level Retreat of Special Envoys and Mediators on the Promotion of Peace Security and Stability in Africa, scheduled for Oct. 26-27, Youm7 reported.

The Egyptian Armed Forces have killed eight “Takfiri elements” in North Sinai during the past 24 hours, security sources told Youm7 Tuesday.