Month: December 2023

Telecom Egypt is in talks with three local and foreign companies for the potential sale and lease-back of a portion of its tower portfolio, with bids ranging from $150m to $250m. The deal involves approximately 2,500 of the company’s 2,800 towers. Sources close to the negotiations, speaking on condition of…

Minister of Finance Mohamed Maait has affirmed the government’s commitment to implementing financial policies that support the localization of industries in Egypt, which play a crucial role in the national economy. He said that the government aims to diversify the growth structure, rely on production and exports, and create hundreds…

The major global central banks, led by the US Federal Reserve, the European Central Bank, and the Bank of England, kept their interest rates unchanged at the end of last week, as the markets await the decision of the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE),…

Marking a year since its launch, the Cairo International Center for Conflict Resolution, Peacekeeping and Peacebuilding (CCCPA) spearheaded efforts to showcase the COP27 Presidency Initiative on Climate Responses for Sustaining Peace (CRSP) at COP28 in Dubai. Ambassador Ahmed Abdel-Latif, Director-General of CCCPA, emphasized the tireless work of CCCPA and CRSP…

The US dollar advanced in late trading on Friday, as traders might have overreacted to the possibility of the US Federal Reserve’s cut of interest rates.    The dollar index, which measures the greenback against six major peers, was up 0.58% to 102.5523 in late trading.    The excitement surrounding…

Eitesal Association, a civil society group in ICT, has finished the last phase of the EU project for embedded systems and electronics with regional and international partners in technology. Key partners were Siemens, Bright Skies, Asita Association in Alexandria, and Delta Association in Mansoura. This project is to improve technology…

Sérgio Pimenta, IFC’s Vice President for Africa, will visit Egypt from December 17 to 19 to keep supporting Egypt’s development goals by increasing private sector involvement in the economy. Pimenta will talk to key government officials, private sector leaders, and development partners to find new ways to boost economic growth…

Many companies in the Egyptian market, especially in the industrial sector, sell a part of their companies or subsidiaries to a strategic investor. The goal is to get foreign currency liquidity to buy production inputs, ensuring the company or its subsidiaries can keep producing. This trend has risen as Egypt…

Omar Hisham Talaat, CEO of Business Development at Talaat Moustafa Group, said that the group does market studies before building commercial centres in the Madinaty and Al-Rehab projects. They do this to know the needs of the people in these projects and the whole East Cairo area. After signing a…

Annual urban inflation eased to 34.6% in November 2023, from 35.8% in October 2023, due to favourable base effects resulting from inflationary pressures during the same period last year caused by supply chain disruptions and exchange rate volatility, according to the Central Bank of Egypt (CBE). In November 2023, most…