Day: January 10, 2024

A consortium led by Saudi Arabia’s ACWA Power signed on Wednesday a monumental usufruct agreement for a 1.1-gigawatt wind energy project with $1.5bn of investment, according to a statement by the Egyptian cabinet. The project will take root in the Suez Gulf and Gabal El Zeit regions, harnessing the wind’s…

A high-level Egyptian delegation, led by Central Bank Governor Hassan Abdalla, Finance Minister Mohamed Maait, and International Cooperation Minister Rania Al-Mashat, held crucial meetings in Washington with International Monetary Fund (IMF) chief Kristalina Georgieva and US Treasury Secretary Janet Yellen. The visit aimed to strengthen bilateral cooperation and progress on…

In a bid to protect young users, Meta announced Tuesday a series of new measures aimed at creating a more age-appropriate experience for teenagers on its platforms.  These changes come after years of criticism regarding the potential negative impacts of social media on mental health, especially among young people. The…

In the midst of a tough economic situation, Egypt is dealing with ambitious goals, constant hurdles, and the need for resources. The country’s road to economic recovery has been steep. With a new year ahead, the nation has various plans to put into action to make its financial plans work.…

Abu Dhabi Islamic Finance (ADIFinance), the leasing arm of Abu Dhabi Islamic Bank – Egypt, has announced that it is joining an alliance that consists of major financial leasing companies in Egypt. The alliance aims to finance a financial leasing contract of EGP 1.3bn for Lake View Urban Development company…

Minister of Finance Mohamed Maait stated that President Abdel Fattah Al-Sisi had ordered an increase in public spending to improve the living conditions of citizens, as well as the wages of state workers and pensioners, in the new draft budget for the fiscal year 2024/2025. He said that this step…