Day: September 16, 2024

The African Development Bank Group (AfDB) has approved a $6.6m grant to support the Federal Government of Somalia (FGS) in strengthening state capacity to build its financial architecture, aiming to promote inclusive and equitable growth. The Somalia Financial Sector Development Project will focus on improving the capacity of financial institutions,…

Egypt’s Minister of Water Resources and Irrigation, Hani Sweilem, participated on Monday, in the high-level session entitled “Addressing Regional Water Challenges”, held within the activities of the “Sixth Arab Water Forum” in Abu Dhabi, United Arab Emirates.   During the discussions, Sweilem referred to the Egyptian efforts made to confront…

Mohamed Shimi, Minister of Public Enterprises Sector, has reviewed the latest updates on the national project to develop the textile industry during a meeting with the heads of cotton and textile companies. This project was implemented across various subsidiaries of the Holding Company of Cotton, Spinning, Weaving, and Garments in…

The Commercial International Bank – Egypt (CIB) has appointed Hisham Ezz Al-Arab as CEO and Managing Director, succeeding Hussein Abaza, who has completed his tenure. The board also nominated Neveen Sabbour as Non-Executive Chair, marking the first time a woman held this position at the bank.     Amr El-Ganayni…

Ahmed Kouchouk, Egypt’s Minister of Finance, emphasized the European Union’s role as a key economic partner for Egypt, highlighting significant opportunities to deepen collaboration for mutual benefit. He noted Egypt’s eagerness to attract more EU investments into the local market, leveraging incentives tied to tangible results and goals. These efforts…

Waleed Abbas, Asst. Minister of Housing of Housing, Utilities and Urban Communities, has said that the Ministry has played a key role in shaping the real estate landscape of Egypt and supporting the economy by establishing and constructing new cities. He continued that last year saw significant growth in the…

Saudi Crown Prince Mohammed bin Salman announced a $5bn investment in Egypt by the Public Investment Fund (PIF) during a meeting with Egyptian Prime Minister Mostafa Madbouly in Riyadh on Tuesday. The announcement was made as part of a broader effort to bolster economic ties between the two countries. Madbouly,…

Majid Al Futtaim, a leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has uncovered an exciting new partnership with Valu, MENA’s leading financial technology company. This partnership introduces an innovative gift card service designed to offer customers enhanced flexibility, exclusive benefits and an…

Majid Al Futtaim, a leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has partnered with Valu, MENA’s leading financial technology company, to launch a new Mall Gift Card service. This innovative service offers customers enhanced flexibility, exclusive benefits, and a more elevated shopping…

Cesena Fiera and the Egyptian Exporters Association (Expolink) have announced that Egypt has been selected as the guest of honour for the 42nd edition of the international Macfrut exhibition, in recognition of the prominent role of Egyptian companies in previous editions. The exhibition will be held in Rimini, Italy, from…