Day: January 9, 2024

IMF chief Georgieva and US Treasury Secretary Yellen will meet Egyptian officials in Washington today, seeking progress on expanding Cairo’s $3bn loan program, stalled by currency and asset sale reforms. The high-level talks occur as both Egypt and the region face economic headwinds – Egypt from internal reforms and the…

The World Bank has lowered its growth forecast for Egypt to 3.8% in the fiscal year (FY) 2022/2023, 0.2% less than its previous projection in June FY 2023, according to the Global Economic Prospects report for January 2024. The report also said that the country’s growth is expected to decline…

The Financial Regulatory Authority (FRA) is streamlining the path for fintech startups in Egypt with the issuance of Decision No. 268 of 2023. This decision outlines clear regulations and procedures for establishing and licensing startups involved in non-banking financial activities, fostering growth in the sector and boosting the national economy.…

Premium Diagnostics hired an English company as a financial advisor to establish a holding company for its offices in the United States, Saudi Arabia, the United Arab Emirates, and Egypt, to offer its shares on the stock exchange in the UAE or Saudi Arabia. The company plans to raise its…

A banking source revealed that the proceeds of the new certificates of deposits at the National Bank of Egypt and Banque Misr, with returns of 27 percent and 23.5 percent, exceeded LE32 billion during the past three days. The source added that NBE’s proceeds exceeded LE17 billion, while Banque Misr’s…

Egypt is set to establish a dedicated company overseeing real estate export and leasing activities, reported state media Al-Ahram.  Anticipated to generate between USD 2 billion and USD 3 billion in revenues (EGP 61 billion – EGP 92 billion), this initiative aligns with the government’s overarching plan unveiled in November…

Embarking on a mission to humanize technology, Rana El Kaliouby, CEO of Affectiva, found herself pioneering Emotion Artificial Intelligence (AI) during her PhD at Cambridge University. Recognizing the lack of emotional intelligence in technology, Rana co-founded Affectiva at MIT, now a multi-billion dollar industry with applications spanning health, automotive, video…

The iconic hotel welcomes the Thai Chef Pairote Pimswat from Thailand, who will transform theguests’ dining experience to an unforgettable one. Chef Pimswat, the hotel’s new chef de cuisine,is taking Birdcage to new heights, curating unforgettable gourmet experiences for guests anddiscerning food enthusiasts. With global experience, including prestigious roles in…

The first meeting of the Committee to Support the Relationship between the State and the Middle Class was chaired by Minister of Social Solidarity Nivine El-Kabbag, with the participation of representatives from various ministries, agencies, and civil society organizations. The Minister of Social Solidarity stressed the role of the middle…