Al-Sisi, Eni CEO discuss boosting bilateral cooperation

Egypt’s President Abdel Fattah Al-Sisi received on Monday Claudio Descalzi, CEO of the Italian company Eni, and his accompanying delegation of senior company officials, to discuss joint cooperation. The meeting was attended by Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources.   The meeting witnessed a review by the…

United Bank to offer 30% on EGX in Q4

United Bank will offer 30% of its shares on the Egyptian Exchange (EGX) during the last quarter of this year.   According to a statement issued by the bank on Monday, CI Capital has been appointed to promote and cover subscriptions in securities as the offering manager, while Helmy, Hamza…

China’s BAIC, Egypt’s Alkan Auto partner to establish EV factory

Deputy Prime Minister for Industrial Development, Minister of Industry and Transport Kamel El-Wazir witnessed the signing of an agreement between China’s BAIC and Alkan Auto, a subsidiary of the Egyptian International Motors, to establish an electric vehicle factory in Egypt. The agreement was signed by Zhao Bingfei, Vice President of…

Madinet Masr sales hit EGP 36.7bn in 9M 2024

Madinet Masr, one of Egypt’s leading real estate developers, reported a strong performance during the first nine months of 2024, achieving a significant leap in sales, achieving a total nominal value of EGP 36.7bn. These figures underscore the company’s growing performance, the strength of its financial position, and the success…

INTRO Technology signs MoU with SWDC for Kemet Data Center in SCZONE

INTRO Technology, the technology arm of INTRO Holding and the parent company of Advansys and Forte Cloud, providing technological solutions and digital transformation, announced inking a strategic Memorandum of Understanding (MoU) with Sterling and Wilson Data Center (SWDC), the global leader in constructing data centers and other engineering projects. The…

El-Khatib reviews TSFE efforts to attract investments in Egypt

Hassan El-Khatib, Minister of Investment and Foreign Trade, met with several members of the Sovereign Fund of Egypt (TSFE) to review the Fund’s efforts to attract investments within the framework of the management and exploitation of state-owned entities and companies.   El-Khatib stressed that the Egyptian government is keen to…

ACUD offers new facilities for mixed-use projects

Chairperson of Administrative Capital for Urban Development (ACUD), Khaled Abbas, announced that the company is gearing up to issue new facilities for real estate development companies in New Administrative Capital.   Abbas said that ACUD will provide facilities for developers with projects under 5 feddans, provided they complete and fully…

Consortium of Egyptian banks provides EGP 18bn loan to Telecom Egypt

A consortium of 13 Egyptian banks has provided Telecom Egypt, the country’s leading telecommunications company, with a seven-year loan worth EGP 18bn. The financing package is the largest ever provided by Egyptian banks to a telecommunications company. The Commercial International Bank (CIB) and Banque Misr are the joint lead arrangers…
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