Day: December 21, 2023

Egyptian businessman Ahmed Ezz has bought Jamal El-Garhy’s shares in Ezz Steel for EGP 344m. The deal involved about 4.3 million shares, with an average price of EGP 80 per share. Hermes Financial Group brokered the transaction. Jamal El-Garhy, who founded El-Garhy Steel Group, had a 5.93% stake in Ezz…

Egypt’s Ministry of Finance is setting its sights on Gulf markets, with plans to issue bonds and sukuk denominated in regional currencies like Saudi riyal and Emirati dirham as early as Q1 2024, sources revealed to Daily News Egypt. This strategic move comes as the country continues to diversify its…

The European Union (EU) is in talks with the Egyptian government and relevant authorities to provide a new funding package that includes loans, grants, and credits to address the economic challenges caused by the conflict in Gaza and other geopolitical issues, according to the Head of the European Union Delegation…

Icon, a subsidiary of Talaat Moustafa Group (TMG), has signed the final agreements to acquire a 39% stake and full management rights in Legasi Hotels, a new company that owns a unique and large portfolio of 7 historic hotels in Egypt. The stake will increase to 51% within a specified…