Day: November 7, 2024

Philip Morris Misr announces its new price list for all variants of its heated tobacco products ‘HEETS’ and ‘TEREA’, and conventional cigarettes ‘Merit, Marlboro and L&M’. Philip Morris Misr assures all its adult smokers and nicotine users that the new prices are transparently announced on product packaging through the QR…

Talaat Moustafa Group (TMG) has reported record sales, reaching EGP 470bn (equivalent to $9.4bn) as of November 6th. This represents a significant increase of over four times compared to the EGP 108bn recorded during the same period last year. The group’s new “SouthMed” project on the North Coast of the…

Cabinet Spokesperson Counselor Mohamed al-Hamasy stated that Prime Minister Mostafa Madbouly clearly indicated in the weekly press conference that Egypt will not witness a ‘significant flotation‘ like last March. “This means that we will not see a large jump in the exchange rate, but rather a movement based on supply…

The Central Bank announced an increase in net foreign reserves to US$46.94 billion at the end of October, compared to $46.74 billion at the end of September, an increase of $200 million. The value of foreign currencies included in the reserve recorded $35.497 billion at the end of October, compared…

NAIA Developments has launched a new phase, Alana, within its NAIA WEST project in New Sheikh Zayed City. Alana includes a variety of unit sizes ranging from 135 to 175 sqm, with a total of 496 residential units. It also features a clubhouse extending over 6,021 sqm. Alana project represents…

Tadamun Microfinance Foundation, which finances women’s micro-enterprises, announced signing a EGP 50m credit facility with the Export Development Bank of Egypt (EBank). The aim is to meet the needs of the women-led micro-enterprise sector, facilitate access to the necessary financing, and enhance the competitiveness of their projects. Signing the new…

CI Capital, the leading diversified financial services group, announced Wednesday the conclusion of EGP 884m securitized bond issuance for Reefy Microfinance Enterprise Services, which acted as the originator of the portfolio. Reefy’s issuance comes in 3 tranches: the first valued at EGP 378m, with a tenor of 6 months, received…