November 3, 2024 – Al Khaber for Accounting And Auditing Services

CIB becomes first bank to undergo electronic inspection under Egypt’s new tax system

November 3, 2024

Sherif Al-Kilani, Deputy Minister of Finance for Tax Policies, highlighted the Minister of Finance’s commitment to maintaining open communication with the Ministry’s success partners and the Egyptian Tax Authority. He expressed gratitude for CIB’s achievement as the first entity in the banking sector to undergo an electronic inspection under the…

MSMEDA allocates EGP 25m for handicrafts through Aman

November 3, 2024

The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has signed a new EGP 25m contract with Aman Holding to strengthen support for handicraft and heritage projects through the “Hirfa” microfinance initiative. According to a statement from MSMEDA on Sunday, the contract was signed by Nevine Badr El Din, Head…

CI Capital concludes EGP 3.919bn securitised bond issuance for Tasaheel Finance

November 3, 2024

CI Capital, the leading diversified financial services group, announced Sunday the conclusion of EGP 3.919bn securitised bond issuance for Capital for Securitization, on behalf of Tasaheel Finance, who acted as the originator of the portfolio. The issuance comes in six tranches: the first valued at EGP 1.394m, with a tenor…

Egypt’s manufacturers call for investment incentives, local production support

November 3, 2024

Ahmed Zaki, Secretary-General of the Exporters’ Division at the General Federation of Chambers of Commerce, commended the Egyptian government’s initiative to boost local content in manufacturing and exports. He underscored the need to consider the enhancement of national industry as a national security priority requiring urgent action. Zaki pointed out…

Kredit secures EGP 875m in facilities from 9 banks, financial institutions

November 3, 2024

Kredit, a subsidiary of GB Capital for project financing, announced it has secured EGP 875m in bank facilities from nine local and international banks and financial institutions, including the National Bank of Egypt, Banque du Caire, Al Baraka Bank, Egyptian Arab Land Bank, and MSMEDA. This funding supports Kredit’s expansion…

Egypt keen to expand health projects, notably Nasser Institute: Abdel Ghaffar

November 3, 2024

Egypt’s Deputy Prime Minister and Minister of Health and Population, Khaled Abdel Ghaffar, stated that his ministry prioritizes expanding health projects nationwide. Nasser Institute Hospital for Research and Treatment is at the forefront of these initiatives, with plans to transform it into Egypt’s and the Middle East’s largest medical…

Government takes steps to stabilize food prices: Madbouly

November 3, 2024

The Egyptian government is taking measures to increase the supply of goods and stabilize prices following recent hikes, Prime Minister Mostafa Madbouly announced on Sunday. He chaired a meeting with relevant ministers to discuss the situation, emphasizing the government’s commitment to monitoring market activity and ensuring nationwide availability of goods.…

Siemens, Emirates Smart Solutions partner to modernize Esna Barrage, Lock in Luxor

November 3, 2024

Siemens has signed a contract with Emirates Smart Solutions (ESS), a subsidiary of Etimad Holding Group in the UAE, to renovate the Esna Barrage and Lock in Luxor. The project has been assigned to Smart Solutions by the Ministry of Water Resources and Irrigation. Under the contract, Siemens will…

Gold prices increase by EGP 35 in Egypt amid global swings

November 3, 2024

Gold prices in local markets rose by EGP 35 over the past week, increasing by 0.9%, despite a 0.4% drop in global gold prices due to intense sell-offs triggered by economic data indicating persistent inflation. This inflation trend suggests that the US Federal Reserve may either keep interest rates steady…

Egypt’s education quality authority holds international conference on AI

November 3, 2024

The Seventh International Conference of the National Authority for Quality Assurance and Accreditation of Education (NAQAAE) opened Sunday in Cairo, with Higher Education and Scientific Research Minister Ayman Ashour inaugurating the event on behalf of Prime Minister Mostafa Madbouly. The conference, themed “Quality Education in the Age of Artificial Intelligence,”…

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Day: November 3, 2024