Day: October 8, 2023

Korea International Cooperation Agency (KOICA) is strengthening its activities in Egypt, following the Korean Government’s designation of Egypt as a priority cooperation partner in 2021, according to Ambassador KIM Yonghyon, the South Korean Ambassador to Egypt. Ambassador KIM highlighted that since its establishment in 1991, KOICA has successfully implemented numerous…

The Central Bank of Egypt (CBE) has reported an increase of $9.6bn in external debt from June 2022 to March 2023, reaching $165.3bn. The CBE attributed this rise to the net disbursements of loans and facilities by $9.1bn, as well as the depreciation of the US dollar exchange rate vis-à-vis…

Dell Technologies’ Senior Vice President for Central and Eastern Europe, the Middle East, Turkey, and Africa, Mohamed Amin, said that the company is working on developing many innovations. Amin said that the company spent $7.5bn on research and development in the past three years, and will spend the same amount…

Dubai – Huawei launched its latest products of smartwatches, earphones, and other wearable devices at a grand event in Burj Khalifa in Dubai, which was attended by Daily News Egypt. The company showcased its new GT4 smart watch products, including a special edition that was decorated with six pieces of…

Egypt’s Minister of Trade and Industry Ahmed Samir said that Egypt and India have a long history of cooperation that supports their mutual goals of economic and social development. He made these remarks at the 21st annual forum of the Confederation of Real Estate Developers’ Associations of India (CREDAI), which…

Egypt’s Finance Minister Mohamed Maait said that the decision of Moody’s, a global credit rating agency, to downgrade Egypt’s sovereign credit rating in local and foreign currencies from B3 to Caa1 with a stable outlook was based on the external and internal challenges that the Egyptian economy faced since the…

Egypt’s Prime Minister Mostafa Madbouly said that significant progress has been made on the Central Business District, which is nearing completion. He explained that all work on the project is expected to be completed within a few months. He considered the project to be one of the icons of the…

The Ministry of Finance is planning to sell its 20% stake in ALEXBANK to Intesa Sanpaolo Group, the Italian banking group that owns about 80% of the bank, sources close to the deal told Daily News Egypt. The deal is expected to be completed in the first quarter of 2024…

Egypt’s Minister of International Cooperation, Rania A. Al-Mashat, met with the French Minister of State for Development Cooperation, Chrysoula Zacharopoulou, in Paris, France, to discuss ways to strengthen joint economic relations. The meeting took place on the sidelines of the Green Finance and Investment Forum organized by the Organization for…