Day: October 14, 2024

Saudi Crown Prince Mohammed bin Salman is expected to arrive in Cairo, Egypt within hours, where he will announce several major investments and projects, sources close to the matter have told Daily News Egypt. The visit comes as part of a broader effort to strengthen economic ties between the two…

Egypt’s Minister of Water Resources and Irrigation, Hani Sweilem, met with Stefan Gumpert, Director of the World Bank Office in Egypt, and his accompanying delegation, where they reviewed the status of several areas of cooperation between the Ministry and the Bank.   This came on Monday, on the sidelines of…

Egypt’s Deputy Prime Minister and Minister of Health and Population, Khaled Abdel Ghaffar, announced the themes of the second edition of the International Conference on Population, Health and Human Development (PHDC’24), which will be held from 21 to 25 October.   The conference will be held under the auspices of…

GB Capital for Financial Investments, the financial arm of GB Corp, has secured a licence from the Financial Regulatory Authority (FRA) for the promotion and underwriting of securities, marking a significant milestone in its expansion efforts. Although GB Capital is not transforming into a full-fledged investment bank, this new licence…

Q Developments announced the launch of its first project in west Cairo, Q Hills located in New Zayed City, on 24 feddans directly on the Dabaa axis, minutes away from Sheikh Zayed City and Sphinx International Airport, west of Cairo. Ahmed Thabet, CEO of Q Developments, said that construction work…

The Financial Regulatory Authority (FRA) has detailed the reasons for halting the acceptance of new applications for licences to establish companies aimed at providing micro-project financing or consumer finance through traditional methods. The Authority explained that this step stems from its keenness to ensure financial stability for markets and non-banking…

The Central Bank of Egypt (CBE) has granted banks permission to open financial inclusion accounts in foreign currencies for individuals and micro-enterprises classified as low-risk clients under categories A and B, as per the November 2023 circular. Banks are also authorized to issue direct debit cards in the same currency…

Egypt’s external debt decreased to $152.9bn by the end of June 2024, according to the Central Bank of Egypt (CBE). This represents a decline from $160.607bn at the end of March and $168.034bn at the end of December 2023. A CBE report released on Monday provided a breakdown of the…