CBE to list stake in United Bank on EGX by Q1 2025

The Central Bank of Egypt (CBE) has announced plans to offer a stake in United Bank’s shares on the Egyptian Exchange (EGX). The CBE is currently working to obtain the necessary approvals from the Financial Regulatory Authority and the EGX. The offering is expected to be completed by the end…

Al-Sisi holds meeting on Egypt’s electricity sector development

President Abdel Fattah Al-Sisi held a meeting on Sunday to discuss the development of Egypt’s national electricity system and related funding mechanisms. The meeting was attended by Prime Minister Mostafa Madbouly, Minister of Electricity and Renewable Energy Mahmoud Essamat, Minister of Finance Ahmed Kouchouk, and Head of the Financial Affairs…

General Motors celebrates production of one-millionth vehicle in Egypt

General Motors Egypt has celebrated a significant milestone with the production of its one-millionth vehicle at its local factory. The event was attended by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir. This achievement underscores General Motors’ commitment to local manufacturing and its role…

Chinese Chemtics launches $30m chemicals plant in Sokhna

Waleid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), witnessed the groundbreaking ceremony of the “Chemtics Egypt Chemicals” plant. The project was launched in the industrial developer zone of Egypt-TEDA in the integrated industrial zone in Sokhna. The plant, built on an area of 60,000 square metres, will…

Al-Wazir discusses industrial zone challenges in Sohag

Kamel Al-Wazir, the Egyptian Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, visited on Sunday the headquarters of the Industrial Development Authority (IDA), where he met with Governor of Sohag, Abdel-Fattah Serag, to discuss challenges faced by industrial investors in the governorate’s industrial zones and necessary…
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