Month: April 2024

Egypt reached an agreement to receive USD 230 million (EGP 11 billion) in funding from Japan in support of the government’s budget, Minister of Finance Mohamed Maait revealed in a statement to Asharq Business on 29 April. Maait’s comments came during a sidelines interview at the World Economic Forum in…

Basil Rahmi, the CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), recently signed a contract to finance micro-projects with Al-Khair Microfinance. The contract, valued at EGP 30m, is directed toward both new and existing micro-enterprises. The signing ceremony included key representatives: Nevine Badr El-Din, Head of the…

Rania Al-Mashat, Egypt’s Minister of International Cooperation, represented President Abdel Fattah Al-Sisi at the International Development Association (IDA) for Africa Heads of State Summit in Kenya. The summit focused on African nations’ development goals within their partnership with the World Bank’s IDA, the world’s leading provider of low-interest loans and…

Egypt’s Finance Minister Mohamed Maait emphasized the need for innovative, non-traditional, and low-cost development financing tools that are tailored to the specific needs of low- and middle-income countries. He stressed the importance of strengthening multilateral development cooperation to bridge the financing gaps faced by emerging economies. Maait’s remarks came during…

Rania Al-Mashat, Egypt’s Minister of International Cooperation, actively participated in the World Economic Forum’s (WEF) special meeting held in Riyadh, Saudi Arabia, under the theme “Global Collaboration, Growth, and Energy for Development.” As a board member of the WEF’s Center for New Economy and Society, Al-Mashat joined a session titled…

Egypt and Turkey share diplomatic and economic ties built on cooperation as well as cultural, religious, and historical origins that go eight centuries back to the Ottoman Empire. Egypt is currently Turkey’s top trading partner in Africa, and Turkey is one of the most important destinations for Egyptian exports. According…

Dubai, United Arab Emirates – 26 April 2024: Gaming enthusiasts can rally their squads and plan their visits to the Dubai Esports & Games Festival (DEF 2024) as an action-packed calendar of events happening across the city is announced. The festival, in its third edition, returns in its biggest celebration…

To 5,500 of its employees from both genders Cairo – April, 2024: In a bid to foster a secure and sustainable workplace environment, Beyti, an Almarai subsidiary and the Egyptian leader in juice & dairy products with 25 years of contribution in local prosperity, has announced a partnership with “Safe…

Egypt’s President Abdel Fattah El-Sisi unveiled Egypt’s first government data and cloud computing center on Sunday 28 April, situated along the Ain Sokhna highway.  The inauguration ceremony emphasized Egypt’s commitment to embracing digital transformation and leveraging the potential of data-driven decision-making. The state-of-the-art center covers an expansive area of 23,500…

The dollar exchange rate was stable at the start of Sunday’s transactions at Egypt’s major banks. At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered LE47.85 for buying and LE47.95 for selling. At the Commercial International Bank (CIB), the dollar exchange rate also stood at…