Day: March 26, 2024

GTEX for Commercial and Industrial Investments has announced the commencement of trading on the Egyptian Exchange. Effective Sunday, GTEX shares are available under the Reuters code GTEX. This follows the successful horizontal demerger from Al-Arafa for Investments and Consultancies S.A.E, as ratified by the extraordinary general assembly on 22 November…

Tarek Shoukry, head of the Real Estate Development Chamber at the Federation of Egyptian Industries and deputy of the housing committee in the House of Representatives, anticipates a marked escalation in property values. This comes in the wake of the Central Bank of Egypt’s move to hike interest rates by…

Administrative Capital for Urban Development (ACUD) has announced its sponsorship of the inaugural Capital Cup tournament, hosted at Egypt’s International Olympic City Stadium in the New Administrative Capital. The International Football Federation (FIFA) has recognized the event as part of its international series. The tournament runs from 22 to 26…

Lasirena Group delivered around 1,200 units across its diverse projects in the North Coast, Ain Sokhna, Sharm El Sheikh, Ras Sidr, and Cairo last year. Mahmoud Omar, from the Board of Directors, emphasized the company’s commitment to boosting construction rates. “Despite the real estate market’s challenges and significant shifts in…

EFG Hermes, a leading investment bank in the Middle East and North Africa and part of EFG Holding Company, has concluded its advisory role in the demerger of Al Arafa for Investment and Consultancies S.A.E. The demerger resulted in the formation of two distinct companies: Concrete Fashion Group for Commercial…

A recent corporate banking event series hosted by Finastra, a leading provider of financial software applications and marketplaces, brought together industry leaders from banks, financial institutions, and technology companies in Dubai and London. The focus of the series was on the trends, challenges, and opportunities facing financial institutions in today’s…

Hossam Haiba, CEO of the General Authority for Investment and Free Zones (GAFI), announced the review of four applications for the golden licence, which includes a logistics company among various sectors. In a statement to DNE, Haiba noted that GAFI has granted approximately 29 golden licences to date. He highlighted…

Concrete Fashion Group for Commercial and Industrial Investments announced the completion of its demerger process and the commencement of trading under the Reuters code “CFGH” effective today, March 24th, 2024. The demerger, approved by the company’s extraordinary general assembly meeting on November 22nd, 2023, aimed to streamline operations.  The issued…

Businesses across the Middle East and North Africa (MENA) are leading a global shift towards agile workforces, with the region experiencing a staggering 142% growth in freelance registrations in 2023 according to a new report by Outsized, the leading on-demand talent platform in the Middle East, Asia-Pacific, and Africa. The…