Day: September 10, 2024

Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, chaired Tuesday a meeting of the Board of Directors of the Social Housing and Mortgage Support Fund, during which several files and topics related to the launch and implementation of the presidential initiative “Housing for All Egyptians” were discussed.   During…

Fawry, Egypt’s leading digital payments company, has acquired an 80% stake in Svreico’s administrative building in the Smart Village, marking a significant expansion of their partnership. The move gives Fawry access to cutting-edge facilities and infrastructure within Svreico’s building, which will enhance its digital payment services, according to a statement…

Ahmed Thabet, Chairperson of Q Developments, announced that the company selected Novotel, as the operator for the upcoming international hotel currently under construction within Q North.   Thabet mentioned that the hotel will be built on a 4.5-feddan area, with a capacity of 240 rooms of various types and suites.…

Egypt’s Ministry of Finance has launched a new EGP 50bn tourism initiative to encourage the construction of more hotel rooms and accommodate a larger number of visitors, Finance Minister Ahmed Kouchouk said on Tuesday. “We are working in coordination with the Ministry of Communications and Information Technology to launch a…

Mohamed Shimi, Egypt’s Minister of Public Enterprises Sector, met with the Board of Directors of the New Cairo and Administrative Capital Developers Association at the ministry’s headquarters to discuss potential areas of cooperation. The meeting was attended by Mohamed El-Bustani, Chairperson of the Association; Ayman Mokhtar, Acting CEO of the…

Waleid Gamal El-Dien, chairperson of the General Authority of the Suez Canal Economic Zone (SCZONE), received Eric Chevalier, the French Ambassador to Cairo, and his accompanying delegation, at SCZONE’s headquarters in Ain Sokhna. The meeting discussed the aspects of cooperation between the two parties and the preparations for the promotional…

Egypt’s Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, met with General Mohamed Al-Zamlout, Governor of the New Valley, to review the implementation of the 2024/2025 investment plan projects in the governorate. The meeting focused on the progress of two key projects: the integrated government services complex and…

Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade, met Tuesday with a delegation from the UAE-based Majid Al Futtaim Group. The delegation included Diaa Yahia, Regional President of Majid Al Futtaim Properties in Egypt, and Mohamed Tolba, Chairperson of Majid Al Futtaim Integrated Solutions. The meeting reviewed the group’s…

The National Bank of Egypt (NBE) and Banque Misr have raised foreign currency spending limits on credit cards for international transactions to USD 5,000 (EGP 300,000), the banks announced on Monday.  NBE has also increased the foreign currency spending limits on credit cards for non-travel transactions, setting the maximum tier…

AngloGold Ashanti, a US-listed global miner, is buying Centamin, a smaller rival focused on Egypt, in a $2.5bn stock and cash deal, the companies announced Tuesday. The acquisition marks AngloGold Ashanti’s latest move to expand its operations in Africa. Shares in Centamin jumped about 24% to 148.10 pence in early…