Day: March 27, 2024

The Ministry of International Cooperation has disclosed key outcomes of the development cooperation programmes and projects executed in 2023. These initiatives fall under the Egypt-United Nations Sustainable Development Cooperation Framework, spanning from 2023 to 2027. The disclosure occurred at the inaugural session of the Joint Steering Committee, convened yesterday. The…

Prime Minister Mostafa Madbouly observed the signing of a pivotal agreement between the SCZONE and Saint-Gobain Egypt Glass Alliance. This agreement, signed by SCZONE’s Vice President Mohamed Abdel Gawad and Saint-Gobain Egypt Group’s CEO Ahmed Wafik, sets the stage for a 200,000 square meter glass factory in Ain Sokhna. The…

The Egyptian Cabinet has approved an economic and social development plan for the fiscal year (FY) 2024/25, aiming for a 4.2% growth rate and a significant boost in private and green investments. The plan, unveiled by Minister of Planning and Economic Development Hala El-Said and approved by Prime Minister Mostafa…

 Savills Egypt, the local office of the leading global real estate advisor, revealed its preliminary insights on the potential effects of the Central Bank of Egypt’s (CBE) recent decisions on the country’s real estate sector. These decisions included the floatation of the Egyptian Pound (EGP) on 6 March 2024, allowing…

ValU, a leader in Buy Now Pay Later solutions, is set to issue treasury bonds valued at EGP 800m next month, insiders told Daily News Egypt. This follows a recent issuance earlier this week, which raised EGP 888m. Thirteen financial institutions, predominantly investment funds along with several banks, fully subscribed…

The Egyptian Tax Authority (ETA) has streamlined procedures to enhance the investment environment and support investor-driven development. Rasha Abdel Aal, the head of ETA, announced Wednesday that value-added tax (VAT) refunds will now be processed more efficiently, with a focus on bolstering the local investment climate. It is important to…

Daily News Egypt sat down with James Michael Lafferty, the CEO of Fine Hygienic Holding, to discuss the company’s investment strategies, particularly in Egypt. With the current global economic challenges, this year has become one of cost management. How is Fine Hygienic Holding navigating cost management during this period? In…

Egypt’s cabinet greenlighted a record EGP 6.4 trillion ($135.45bn) budget for fiscal year (FY) 2024/25, prioritizing deficit reduction and increased social spending. This marks the first time the government has presented a consolidated budget encompassing the entire general government, including both the administrative apparatus and economic entities. This shift aims…

To commemorate World Oral Health Day, celebrated each year on March 20th, Sensodyne, the No.1 dentist-recommended brand for sensitive teeth , partnered with the World Dental Federation (FDI) and its affiliated associations to host an awareness event. The event shed light on the paramount importance of oral health and its…

The National Bank of Egypt, the largest government bank in Egypt, intends to invest up to five billion LE during 2024 in new projects and expand some currently existing ones, according to the CEO of Investments and Investment Trustees of the bank Ahmed al-Saeed during his talk with Al-Sharq. Saeed…