Day: November 23, 2024

Global gold prices experienced a significant surge last week, marking their best weekly performance in 20 months. The rise was driven by increased demand for safe-haven assets amid the ongoing escalation between Russia and Ukraine, despite the continued strength of the US dollar. The price of gold rose by 6%…

Islam Abu El-Magd, head of the National Authority for Remote Sensing and Space Sciences (NARSS), hosted a scientific meeting with Stefan Schmid, director of the Agricultural Innovation Project at the German Agency for International Cooperation (GIZ), and Walid Ramadan, senior advisor of the project, to explore mechanisms for strengthening scientific…

The first Egyptian-Sudanese Business Forum, held on Saturday, focused on strengthening economic cooperation between the two nations. Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, opened the forum by emphasizing the importance of expanding industrial investment and trade. He stated that the forum aims…

Egyptian President Abdel Fattah Al-Sisi met with Borge Brende, President of the World Economic Forum (WEF), and his accompanying delegation on Saturday to discuss regional developments and economic issues. The meeting was attended by Prime Minister Mostafa Madbouly, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, Minister of…

Amr Talaat, Egypt’s Minister of Communications and Information Technology, presided over the closing session of the second Global Dialogue on Artificial Intelligence (AI) Governance. Held in Egypt from 19 to 21 November, the event convened members of the African Union (AU) AI Working Group, the Organisation for Economic Co-operation and…

The US Embassy in Cairo hosted the Academy for Women Entrepreneurs (AWE) Conference 2024 at the AUC Tahrir Campus in Cairo. The event was inaugurated by US Ambassador Herro Mustafa Garg and American University in Cairo President Ahmed Dallal, bringing together industry leaders, investors, and young entrepreneurs. Organized by the…

The Korea International Cooperation Agency (KOICA), South Korea’s official development aid agency, held a “High-Level Stakeholder Briefing Ceremony on the E-Procurement System in Egypt” on 21 November. The event was organized in collaboration with the Egyptian Ministry of Finance and the General Authority for Government Services (GAGS). This ceremony is…

Abu Dhabi Islamic Bank Egypt (ADIB) has announced plans to invest approximately EGP 1bn in technology and digital transformation, alongside expenditures on cybersecurity enhancements. This announcement was made during the bank’s participation in the 28th Cairo ICT Exhibition, held from 17 to 20 November under the theme “The Next Wave”,…

Saib Bank reported a 118% increase in net profit, reaching EGP 1.28bn, equivalent to $26.55m, in September 2024, compared to EGP 588m, equivalent to $19.05m, in September 2023. The bank also recorded an 88% rise in profit before taxes, amounting to EGP 1.82bn, equivalent to $37.7m, in September 2024, compared…

The Egyptian Islamic Finance Association (EIFA) reported that the volume of Islamic banking in the Egyptian market, including sukuk, surged to EGP 1.080trn in September 2024, reflecting a remarkable growth rate of 67.5% compared to September 2023. This substantial growth is attributed to the transformation of Al-Ahli United Bank into…