Day: September 2, 2024

Indian companies are expressing strong interest in investing in Egypt’s fertiliser, green hydrogen and food production industries, according to a statement by the country’s General Authority for Investment and Free Zones (GAFI). GAFI CEO Hossam Heiba met with Nivruti Rai, CEO of Invest India, India’s Investment Promotion Agency, and several…

SODIC has announced the launch of its latest coastal project, Ogami, located in Egypt’s North Coast and home to the exclusive Nobu Hotel and Residences enclave in the region. Named after the serene Ogami Island in Japan, the design-led development draws inspiration from its namesake’s famous sunsets, integrating the island’s…

Life has sprung into the Jefaira project in the Ras El Hekma area of the North Coast, as Inertia Egypt has started delivering units to customers after providing a diverse range of services within the project. These include the operation of the beach, the opening of several restaurants, and the…

Beltone Mortgage, affiliated to Beltone Holding, one of the fastest-growing financial institutions, has provided mortgage loans worth EGP 2.6bn in the first half (H1) of this year, directed towards approximately 1,500 clients. The funding is distributed as 59% in portfolios and 41% in individual loans, with a cumulative portfolio size…

The Engineering Export Council of Egypt announced that the sector’s exports during the first seven months of 2024 increased by 29.9% during the period from January to July 2024, reaching $3.052bn compared to $2.350bn in the same period of 2023. The council’s report said that engineering exports saw a significant…

Minister of Public Enterprises Sector Mohamed Shimi visited on Monday Nile Company for Pharmaceuticals and Chemical Industries, a subsidiary of the Holding Company for Pharmaceuticals. This visit is part of his ongoing field tours to monitor project progress and the implementation of work plans within affiliated companies. During the visit,…

Ahmed Kouchouk, Egypt’s Minister of Finance, has said that the government was actively developing financial policies to stimulate economic activity, production, and exports. The focus was on fostering private sector growth in competitive fields such as renewable energy, information technology, and export-oriented industries. These efforts were part of a broader…

Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania  Al-Mashat, called for increased investment in infrastructure to address the development gaps faced by emerging economies, during the 9th Annual Meeting of the New Development Bank (NDB) in South Africa. “Investment in infrastructure to provide essential services to citizens is…

Mahmoud Esmat, Minister of Electricity and Renewable Energy, met with a World Bank delegation led by Arthur Koshnakian. The meeting was also attended by Deputy Minister Sabah Mashaly, Jaber Desouki, Chairperson of the Egyptian Electricity Holding Company, and Mohamed Eissa, Head of the Central Department for International Cooperation. The discussions…

On Thursday 29 August, the director general of Russia’s Rosatom, Alexey Likhachev, announced significant progress on Egypt’s Dabaa nuclear power plant project during a meeting with Prime Minister Mostafa Madbouly. Likhachev reported that by the end of the year, approximately 30 percent of the project will be completed, emphasizing its…