Day: October 2, 2024

A financial stability report issued by the Central Bank of Egypt revealed the continued resilience of Egypt’s financial system—both banking and non-banking sectors—in performing its core function of financial intermediation throughout fiscal year 2023 and into the first quarter of 2024. This includes providing essential financing to various sectors, offering…

Egypt’s Prime Minister Mostafa Madbouly chaired a government meeting on Wednesday, at the Cabinet headquarters in the New Administrative Capital. Madbouly stated that the rapid developments in the region created an exceptional circumstance that impacted the economic conditions of several countries, including Egypt. This is evident through rising oil prices…

Madaar Development, a leader in Egypt’s real estate market, has presented exclusive deals and flexible long-term payment plans at Cityscape Egypt 2024, solidifying its market presence with ambitious expansion plans and innovative offerings. During the exhibition that lasted from 25 to 28 September at the Egypt International Exhibition Center with…

Minister of Electricity and Renewable Energy Mahmoud Esmat met with Siemens Energy Managing Director for Africa, Dietmar Siersdorfer, and Managing Director Ashraf Hamasa, along with their delegation. The meeting focused on advancing energy generation through innovative technologies to address energy transition challenges and opportunities. Key discussions included expanding renewable energy…

Minister of Investment and Foreign Trade Hassan El-Khatib has participated in a series of meetings organized by MEDEF International, the French Business Confederation comprising 7,100 companies across various sectors. The meetings were attended by French Ambassador to Cairo Eric Chevallier, Egyptian Ambassador to Paris Alaa Youssef, and key figures such…

The Egyptian Banking Institute (EBI), the official training arm of the Central Bank of Egypt, has announced its achievements for the fiscal year (FY) 2023/24, highlighting its commitment to developing human capital within the banking sector in Egypt and across strategic African countries. EBI’s Executive Director, Abdel Aziz Nossier, expressed…

Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZone), recently participated in a promotional tour in Marseille, France, seeking to attract French investment to the SCZone. Gamal El-Din participated in a session titled “Business Climate in Egypt: Challenges, Opportunities and Best Practices” at the Egyptian-French Business Forum. He…

Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, met with a delegation from Polish company PADMA, led by CEO Dariusz Krupa, to discuss the company’s investment plans in Egypt’s furniture manufacturing sector. PADMA plans to establish a large industrial complex in New Alamein…

In a significant development for the MENA podcast market, UAE-based distribution platform Podeo has raised USD 5.4 million (EGP 174 million) in a Series A funding round led by Oraseya Capital, with contributions from Ibtikar Fund, Cedar Mundi Ventures, Samarium, iSME, and returning investor Razor Capital. The new funding will…

Palm Hills, one of Egypt’s leading real estate developers, has announced the launch of “The Village” at Badya, which is set to become Egypt’s first-ever ‘college town’. Located in West Cairo within Badya, one of Egypt’s first smart and sustainable cities, The Village is set to appeal to residents through…