Day: November 10, 2024

The Central Agency for Public Mobilization and Statistics (CAPMAS) has reported a slight increase in Egypt’s annual urban inflation to 26.5% in October 2024, up from 26.4% in September. Across the country, annual inflation climbed to 26.3% in October from 26% in September, although this figure is notably lower than…

Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), delivered the keynote speech at the sixth annual Insurance and Reinsurance Forum in Sharm El-Sheikh, organized by the Insurance Federation of Egypt, under the title “A Future Vision for Developing the Insurance Industry.” The conference aims to discuss the latest developments…

The Financial Regulatory Authority (FRA) has revealed that the organizations subject to its supervision, including capital market and non-banking financing entities, had injected financing worth EGP 51.5bn until August 2024.   The Authority said the financing was divided into EGP 16.9bn worth of stock issuances, EGP 4bn worth of securities…

Egypt’s Chamber of Food Industries held a regular meeting for the meat and poultry processing division to discuss the challenges facing the sector and to study the issuance of standard specifications for new products.   The meeting discussed a proposal from some producers to require slaughterhouses to issue electronic invoices…

Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has provided EGP 25.6bn in funding to projects in Upper Egypt over the past 10 years, including EGP 1.7bn to Aswan governorate, the agency’s CEO, Basel Rahmy, said on Sunday. Rahmy said the agency aims to double that funding in the…

Egypt’s Prime Minister Mostafa Madbouly on Sunday reviewed the implementation status of the “Housing for All Egyptians” presidential initiative during a meeting with several government officials. The meeting was attended by Ahmed Kouchouk, Minister of Finance; Adnan El-Fangary, Minister of Justice; Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities;…

The latest annual report from Aqarmap, a real estate search engine, reveals a growing trend in the real estate market in 2024. Homebuyers favour areas that offer commercial markets and public transportation. Meanwhile, a smaller percentage of buyers preferred locations with hospitals and universities. In assessing the services that attract…

Everest Development Group (EDG) has unveiled its ambitious new strategic plan, aiming for growth and innovation within the real estate sector. The plan underscores EDG’s commitment to excelling in the Egyptian and global markets, leveraging its vast experience in high-quality real estate developments. EDG Chairperson Mohamed El-Rady said: “These new…

EBNY Developments celebrated the delivery of its first project in New Sohag, Greene Avenue, a residential compound spanning 20 feddans in one of the city’s prime areas. Chairperson of EBNY Developments Abdallah Kamel highlighted that Greene Avenue is the first smart compound in Upper Egypt, with 80% of the area…

Chairperson of Margins Developments Mohamed El Aasar stated that Sheraton Residence is the first residential hotel resort bearing the Sheraton hotel brand in Mostakbal City, New Cairo. El Aasar said the Sheraton Residence project spans over 35 feddans, combining residential and hotel services with total investments exceeding EGP 15bn. The…