Day: September 24, 2023

The Financial Regulatory Authority (FRA) has announced that it will launch a voluntary market for trading carbon certificates, which are documents that represent the reduction or removal of greenhouse gas emissions. The carbon certificates are classified into two main types: removal certificates, which are based on technological methods, and capture…

Dreny and Partners law firm, led by partner Iman Raouf, said that it acted as a legal advisor for 14 securitised bonds issuances with a total value of about EGP 26bn. She told Daily News Egypt that the issuances cover several key sectors, such as microfinance, consumer finance, real estate…

The Ministry of Trade and Industry announced it had postponed the implementation of a decision to stop the export of onions for a period of three months until the beginning of October. The announcement caused confusion in the markets, as the price of a ton of onions decreased by about…

Today, blinx, a new digital media hub in the Middle East, launched with a vision to empower the region’s youth with the finest in digital storytelling and news stories. The hub offers fresh perspectives and connects Gen Z and Millennials across multiple screens, platforms, and smart devices, delivering authentic and…

ADNOC Distribution, the UAE’s largest fuel and convenience retailer, announced on Saturday the inauguration of three ADNOC service stations in Egypt, strategically located in key areas across Greater Cairo to offer a full range of vehicle services to the local communities. The Company plans to open a further six ADNOC…

The Central Bank of Egypt (CBE) announced that the total financial position of banks operating in the local market increased to about EGP 13.798trn in the first half (1H) of 2023, according to its quarterly report on banks’ financial health. The report showed that on the assets side, banks had…

Shell plc.’s subsidiary BG International Limited has signed a Farm-Out Agreement (FOA) with Kuwait Foreign Petroleum Exploration Company (KUFPEC), under which KUFPEC will acquire a 40% stake in Block 3 (North East El-Amriya) in the Egyptian Mediterranean Sea. The FOA, which is subject to government and regulatory approvals, will enable…

The Food Export Council, in collaboration with the Food Information and Inspection Systems Support Project and the Central Laboratory of Residue Analysis of Pesticides and Heavy Metals in Food, organized a symposium on the common challenges of processed foods from agricultural origin to the European Union and the USA. The…

Egypt’s Prime Minister Mostafa Madbouly announced on Saturday that the government is finalizing a reconciliation law for building violations. “There is coordination with the House of Representatives to reach an agreement on the proposed articles, which will expedite its issuance for the benefit of citizens,” Madbouly said. “Simultaneously, we will…

Egypt’s Environment Minister, Yasmine Fouad, participated in a ministerial session on financing arrangements to deal with the losses and damages caused by climate change, as part of the 15th session of New York Climate Week. The session aimed to address the issue of loss and damage, which refers to the…