Day: December 11, 2023

In line with its unwavering commitment to supporting the communities in which it operates, Carrefour, which Majid Al Futtaim owns the exclusive rights to operate in Egypt, is honoring its five-year partnership with the Egyptian Food Bank. Demonstrating a profound commitment to creating positive social impact, Carrefour’s contributions, surpassing EGP…

Leading fertiliser producer Uralchem Group has announced the successful loading and departure of a humanitarian shipment carrying over 23,000 tonnes of fertilisers destined for Zimbabwe. The vessel, loaded at ports in Riga, Latvia, and Ghent, Belgium, is currently en route to the port of Beira in Mozambique, from where the…

Egypt’s annual core inflation rate declined to 36.4 percent in November 2023 from 38.5 percent in October, according to the the Central Agency for Public Mobilization and Statistics (CAPMAS) on Sunday. CAPMAS said in a statement that the overall consumer price index for the whole country reached 191.8 points for…

Nutanix, a leader in hybrid multi-cloud computing, and Raya Data Centers, a premier provider of data center solutions and services in Egypt, have signed a Memorandum of Understanding (MoU) to deliver cloud computing services and solutions tailored for the public and enterprise sectors in the Egyptian market. This agreement was…

Mamdouh Shimi, CEO of BrandMix – a marketing and public supply firm catering to multinational and prominent Egyptian companies – highlighted Egypt’s market as a promising and attractive investment hub, particularly in marketing. Shimi noted that small and medium-sized enterprises (SMEs) constitute 80% of the entities in Egypt’s marketing sector.…

Tarek El Tarouty, Executive Director of New Egypt Gold Group, highlighted gold’s status as a haven and a universally accepted currency amidst economic uncertainties and crises. El Tarouty emphasized the resilience of the gold industry against global crises, noting that gold remains in demand for both investment and practical use.…

The Ministry of International Cooperation has unveiled a partnership with the World Bank Group (WBG) to foster innovation in climate-smart agriculture. This announcement was made at an event held in the Egyptian Pavilion during the UN climate conference COP28 in the United Arab Emirates. The collaboration will leverage the EgCITE…

The Central Bank of Egypt (CBE) announced Sunday that the monthly core inflation rate, which excludes volatile items such as food and energy, recorded 1% in November 2023, down from 2.7% in the same month of the previous year and 1.8% in October 2023. Accordingly, the annual core inflation declined…

The UN Climate Change Technology Executive Committee (TEC), alongside Enterprise Neurosystem, a non-profit open-source AI community, have announced a new initiative to tackle climate change – the AI Innovation Grand Challenge. This ambitious project aims to identify and support the development of AI-powered solutions specifically targeted at assisting developing nations…

COP28’s Nature, Land Use and Ocean Day saw leaders endorse commitments and pledges of over $186m to drive climate action and continue to build momentum to protect and restore nature. A number of landmark commitments on forests, mangroves, landscape restoration, nature finance and the ocean were announced, reaffirming that near-term…