Day: December 26, 2023

The Energy and Environment Committee of the House of Representatives, led by MP Talaat Al-Suwaidi, officially endorsed a government-proposed bill focused on providing incentives for green hydrogen projects and related initiatives on Monday, 25 December. The proposed law encompasses both tax and non-tax incentives, aligning with Egypt’s commitment to optimize…

CAIRO, Dec 25 (MENA) – The exchange rate of the US dollar against the Egyptian pound was stable at the beginning of Monday’s transactions at Egypt’s major banks. At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered LE 30.75 for buying and LE 30.85 for…

Egypt’s developer Madinet Masr held a ceremony to celebrate the fruitful and strategic partnerships with its successful partners, comprising all third-party suppliers, with a total monetary value of EGP 7bn achieved throughout 2023 divided into; EGP 5.3bn for construction, EGP 1.35bn for infrastructure, EGP 250m for landscape, and EGP 100m…

Banque du Caire posted net profits of over EGP 4.5bn in September 2023, compared to EGP 2.9bn in September 2022, indicating a remarkable growth rate of 57%. Pre-tax profits amounted to EGP 7.5bn, up from EGP 4.8bn, showing a growth rate of 57%. As per the bank’s financial statements, net…

Bassel Rahmi, the CEO of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), announced the agency’s commitment to strengthening cooperation with various international entities and development partners. The aim is to offer diverse support for the small projects sector in Egypt, in line with the Egyptian government’s directives to…

The Central Bank of Egypt (CBE) has issued new guidelines to fight money laundering and terrorism financing, replacing the regulations issued in 2008. In regulatory instructions to banks today, the Central Bank announced the repeal of the regulations related to these matters issued in 2008, giving banks six months to…