Day: October 20, 2024

Saudi Arabian Almarai Company, one of the leading food and beverage companies in the Middle East, has officially opened two new cheese production lines at its Egyptian subsidiary Beyti. Two new cheese production lines were inaugurated with an investment of nearly USD 20 million (EGP 1 billion), during a ceremony…

Egypt’s Prime Minister Mostafa Madbouly has stressed the importance of the Export Reimbursement Programme in driving Egypt’s economic growth, highlighting plans to offer unprecedented incentives for localising industries and streamlining payment procedures for exporters. Madbouly chaired a Cabinet meeting on Sunday to review the programme’s implementation, attended by key ministers…

The Central Bank of Egypt (CBE) has issued the guidelines for the tourism support initiative, previously announced by the Egyptian government, to allocate EGP 50bn, funded by the Ministry of Finance. According to a circular from the Central Bank, the guidelines specify that the credit available to each company will…

Egypt’s Deputy Prime Minister and Minister of Health and Population, Khaled Abdel Ghaffar, launched the second Global Conference on Population, Health, and Human Development (PHDC24) on Sunday, under the patronage of President Abdel Fattah Al-Sisi. The conference, themed “Human Development for a Sustainable Future,” is a key component of Egypt’s…

Egypt’s President Abdel Fattah Al-Sisi has urged the government to reassess the country’s programme with the International Monetary Fund (IMF) in response to current regional and global developments. Speaking at the Global Conference on Population, Health, and Human Development (24PHDC) on Sunday, Al-Sisi emphasized Egypt’s resilience in turning challenges into…

Egypt’s Minister of Environment, Yasmine Fouad, inaugurated the opening session of a World Bank technical mission visit to review the progress of the Greater Cairo Air Pollution Management and Climate Change Project. This joint initiative between the Ministry of Environment and the World Bank aims to address critical environmental challenges…

Raya Holding for Financial Investments has announced securing an investment of approximately $40m from Helios Investment Partners, Africa’s largest investment fund which manages around $37.5bn in assets, into Raya Foods. Through this investment, Helios will acquire 49% of Raya Foods’ shares, strengthening its strategic partnership with the company and supporting…

Al Tadamun Microfinance Foundation, a leader in financing micro-enterprises for women, announced that it had signed an agreement with the Commercial International Bank – Egypt (CIB) to renew a credit facility agreement worth EGP 150m. This agreement aims to expand financing for women who own micro-enterprises nationwide. The agreement reflects…

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, met with Fayoum Governor Ahmed El-Ansary and senior officials to address challenges faced by investors in the governorate’s industrial zones and explore solutions. The meeting reviewed the progress of Fayoum Governorate’s four industrial zones, totalling 11,700…

The Egyptian government plans to borrow EGP 1.293trn from the domestic market during November and December 2024, according to figures obtained by Daily News Egypt. The government intends to use the borrowed funds to repay previous debt instruments and finance the general budget deficit, according to its plan. The Ministry…