Day: November 12, 2024

The financial gap needed to meet the United Nations’ Sustainable Development Goals (SDGs) in the Middle East, Africa, and Southern Asia (MEASA) region by 2030 has expanded to nearly $5trn annually, according to the third annual report from the Transition Investment Lab (TIL) at NYU Abu Dhabi. The report, titled…

Faith leaders and advocates gathered at a COP29 side event, “Beyond Numbers: A Dialogue on the New Collective Quantified Goal from Faith and Ethical Perspectives,” to call for a climate finance model rooted in justice and accountability. The event, hosted by the Interfaith Liaison Committee, which the World Council of…

British Prime Minister Keir Starmer announced a new emissions reduction target at the COP29 climate summit in Azerbaijan, vowing to lead the UK in cutting greenhouse gas emissions. The UK will now aim for an 81% cut in its emissions by 2035, exceeding the 78% pledge made by the previous…

The Central Bank of Egypt (CBE) announced on Monday, 11 November, that it successfully issued USD 1.57 billion (EGP 77.3 billion) in one-year USD-denominated treasury bills (T-bills), according to a statement by the bank.  The sale attracted approximately USD 1.73 billion (EGP 85.1 billion)  in bids, with a minimum yield…

Minister of Health and Population Khaled Abdel Ghaffar and Minister of Industry and Transport Kamel Al-Wazir met, on Tuesday, to review the latest developments in the distribution system for artificial milk, designed to mimic the nutritional profile of breast milk, and therapeutic milk used to treat severe acute malnutrition.  …

Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, delivered the opening speech at the 18th session of the “People and Banks” Economic Conference, organized by the Arab Media Center. In her speech, Al-Mashat highlighted the conference as a vital platform for discussing challenges and opportunities in the Egyptian…

The United Bank has set the indicative price range for its initial public offering (IPO) on the Egyptian Exchange between EGP 12.7 and EGP 15.6 per share, with potential proceeds ranging from EGP 4.2bn to EGP 5.1bn. The final offering price will be determined through a book-building process. The United…

Prime Minister Mostafa Madbouly has participated in the high-level segment of the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) in Baku, Azerbaijan, on behalf of President Abdel Fattah Al-Sisi.   During his participation, Madbouly attended a roundtable entitled “Energy: Enhancing Climate Change…

Orascom Development Egypt (ODE) announced the sale of a 110,000-square-meter land plot in El Gouna to Hassan Allam Properties for $37.4m. This collaboration highlights ODE’s commitment to enhancing the El Gouna community through targeted partnerships with leading developers.   This sale will allow ODE to trigger a wave of investments…

GlobalCorp Group, a leading Egyptian Non-Banking Financial Services Group, announced Tuesday a significant increase in its issued and paid-in capital, reflecting the company’s robust growth and shareholder confidence in its future. This capital increase aligns with GC-Group’s broader strategic goal of expanding its footprint and service offerings across Egypt’s non-banking…