Day: February 6, 2024

The Board Consulting has released its annual real estate report that showcased the exceptional accomplishments of 20 leading developers, who collectively achieved over EGP 700bn in sales. This remarkable achievement surpasses last year’s sales figure of EGP 332bn, revealing the unwavering resilience and impressive growth of the real estate market,…

Egypt’s Minister of Water Resources and Irrigation, Hani Sweilem, met with his Tunisian counterpart, Abdel Moneim Belati, Minister of Agriculture, Water Resources and Fisheries, on Tuesday. The meeting took place on the sidelines of the fifth session of the “Mediterranean Water Forum” held in Tunis. The two ministers reviewed ways…

EFG Hermes, the investment banking arm of EFG Holding and the leading investment bank in Frontier and Emerging Markets (FEM), announced today that its Investment Banking division successfully advised Kazyon, a prominent MENA-based discount retailer, on a merger and acquisition (M&A) deal. In this deal, Kazyon acquired a 50% stake…

Connect, a leading company in digital transformation solutions, has signed a technical consulting contract with the Cotton Holding Company and its subsidiaries for their infrastructure projects. This contract is part of the holding company’s strategy to develop the textile industry, increase its production outputs, enhance its operational efficiency, and modernize…

Soha Gendi, Minister of State for Emigration and Egyptian Expatriates’ Affairs, met with the Central Bank of Egypt’s (CBE) advisor on social responsibility to discuss how to cooperate on providing job opportunities for youth and combating illegal immigration. This is part of the “Rescue Boats” presidential initiative, which aims to…

Egypt’s trade deficit reached $3.07bn in November 2023, compared to $2.92bn in the same month of the previous year, marking a 5% increase, according to the monthly bulletin of “Foreign Trade Data” issued by the Central Agency for Public Mobilization and Statistics (CAPMAS). The bulletin attributed the rise in the…

The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has invested EGP 1bn in Luxor from July 2014 to December 2023, according to its CEO Basil Rahmi. Out of this amount, EGP 902.9m funded 31,000 small and micro enterprises, creating about 55,000 jobs for the residents. The remaining EGP 124m…

The Egyptian Holding Company for Airports and Air Navigation, one of the companies affiliated with the Ministry of Civil Aviation, will host the 71st edition of the African Airports Council International Conference and Exhibition (ACI) under the patronage of Prime Minister Mostafa Madbouly. The conference, entitled “Airports: The Engine of…

Egypt’s Minister of International Cooperation, Rania A. Al-Mashat, met with Muhammad Sulaiman Al Jasser, President of the Islamic Development Bank Group (IsDB), at the Ministry of International Cooperation’s headquarters in New Administrative Capital. Al-Mashat stated that the Ministry of International Cooperation is keen to increase joint cooperation programs with the…

The Ministry of Finance announced that the local treasury bills and bonds balances reached about EGP 4.962trn in 2023, according to its latest report on its website. The report showed that the treasury bills balances amounted to EGP 2.67trn, distributed as follows: EGP 1.172trn for 364-day bills, EGP 229.796bn for…