Day: January 16, 2024

Egypt has secured a $250m Sharia-law compliant trade loan facility from the Africa Finance Corporation (AFC) in partnership with the International Islamic Trade Finance Corporation (ITFC). In a Tuesday press statement the AFC said that proceeds from the loan will contribute to addressing Egypt’s immediate priorities and boost economic resilience…

Madinet Masr, a leading Egyptian urban developer, capped off a stellar 2023 with record-breaking sales and a string of prestigious awards, solidifying its position among the country’s top players. The company’s remarkable achievements were fueled by its innovative offerings, strong financial performance, and the visionary leadership of CEO Abdallah Sallam.…

As a leading advertising agency in Egypt, Rack has proven its excellence once again by being the only Egyptian agency to rank 6th on the top 15 film campaigns in the Middle East for 2023 for their Volt advertisement. But that’s not all, they have also secured the third spot…

CAIRO, Jan 15 (MENA) – The dollar exchange rate was stable at the start 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 selling. At the Commercial International Bank (CIB),…

Philip Morris Misr, a leading tobacco company and producer of smoke-free alternatives, organized a campaign to clean up the Nile River as part of its social responsibility initiatives. The campaign involved its employees and corporate leaders and aimed to raise awareness of the importance of protecting the Nile River from…

Telecom Egypt announced on Monday its collaboration with Zain-International Omantel (ZOI) to create a digital corridor connecting the Mediterranean Sea to the Arabian Sea and the Arabian Gulf. This will be an unprecedented route for data transfer between Asia and Europe. The digital corridor will span from the coasts of…

The European Bank for Reconstruction and Development (EBRD) commends Egypt’s efforts to improve the business environment, enhance private sector participation, and launch the NWFE programme to stimulate the transition to renewable energy. This was stated in the transitional report for 2023-2024, which the EBRD issues annually to highlight economic developments…

For the first time in nine quarters, PC shipments experienced a sliver of growth in Q4 2023, rising 0.3% year-over-year to 63.3 million units, according to Gartner. This fragile turnaround marks the end of a two-year slump, though 2023 still saw a significant 14.8% decline to 241.8 million units shipped…

Basil Rahmi, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), expressed the agency’s commitment to support the state’s strategy of developing production and industrial clusters in border governorates and remote areas across the country. The goal is to make it easier for citizens and project owners to…