Day: November 21, 2023

Shell Egypt has made a significant step forward in its exploration efforts by discovering a new offshore natural gas reservoir in the North East El-Amriya block in Egypt’s Mediterranean Sea. This encouraging discovery was announced in a statement released on Tuesday. The company successfully completed the drilling of the first…

Forbes Middle East recently released it’s sixth annual 30 Under 30 list, spotlighting exceptional young talents across various industries in the region. This year’s roster showcases 145 individuals from 22 different nationalities, with Egyptians leading the list, comprising 44 outstanding achievers. These trailblazers represent diverse sectors, including science and technology,…

Egypt and Saudi Arabia are considering the possibility of using local currencies in part of their trade exchange during the coming period, according to the head of the Commercial Representation Authority of the Egyptian Ministry of Trade and Industry Yahya Al-Wathiq Billah, Asharq Business reported. Billah’s statements came on the…

The Council of Governors of the Arab Monetary Fund has decided to appoint Fahd bin Mohamed Al-Turki as the new Director-General and Chairperson of the Fund’s Board of Directors. Al-Turki will take over from Abdulrahman bin Abdullah Al-Hamidi, who resigned from his position. Al-Turki will complete the remaining period of…

Fork N Knife, a tech-enabled cloud kitchen company, has announced that it has raised $800,000 in seed funding from a group of angel investors and institutions outside the Middle East. The funding will enable the company to continue its mission of advancing the food tech sector with its innovative “Cooking…

The European Investment Bank (EIB) officially opened its new regional hub in Cairo, Egypt, on Monday, to enhance its engagement and cooperation with public and private partners across the Middle East and North Africa. The EIB Global regional hub was announced by Egypt Prime Minister Mostafa Madbouly, Egyptian Minister of…

Bassel Rahmy, the CEO of Micro, Small, and Medium Enterprise Development Agency (MSMEDA), highlighted MSMEDA’s efforts to enhance cooperation with international financial institutions, especially the European Union (EU), to launch developmental projects in various governorates of Egypt. These projects aim to create daily job opportunities for casual workers and improve…

Minister of Finance Mohamed Maait said Sunday that the government is moving forward with the digital economic transformation, which helps to improve the financial governance of the state. He said that the electronic payment and collection system serves more than 20 million citizens and handles over 500 million transactions annually.…

Rami Aboulnaga, Deputy Governor of the Central Bank of Egypt (CBE), said that the CBE is committed to keeping up with the latest developments in financial technology as part of its goals to maintain monetary stability and enhance financial inclusion. He gave a speech on behalf of the CBE governor…