Day: November 26, 2024

Vantage Urban Developments, a prominent Egyptian real estate company, has announced the launch of its second project, M Signature, in New Cairo, with a total investment of EGP 1.5bn. Mohamed Abdel Gawad, Chairperson of Vantage Urban Developments, emphasized that the Egyptian government’s initiatives to establish fourth-generation cities, as part of…

International Workplace Group (IWG), the world’s largest provider of hybrid working solutions, has announced the opening of a new flexible workspace in Cairo. This new location, marking IWG’s 17th in Egypt, comes at a time when demand for hybrid working solutions is rapidly increasing across Egypt and the wider MENA…

Egypt’s Minister of Foreign Affairs and Immigration, Dr Badr Abdelatty, held separate meetings in Rome on Tuesday, November 26, with his Italian and Congolese counterparts. The meetings took place during a visit to Italy, where Abdelatty attended the G7 Foreign Ministers’ meeting. During a meeting with Italy’s Minister of Foreign…

President Abdel Fattah Al-Sisi met on Tuesday with the leaders of several prominent international industrial companies participating in the third edition of the annual International Industries Forum and Exhibition, held in Egypt from 25 to 27 November. The meeting was attended by Prime Minister Mostafa Madbouly, Deputy Prime Minister for…

Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), attended the launch of $500m in sustainability bonds issued by the Arab African International Bank (AAIB). These bonds, backed by investments from the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and British International Investment (BII), are…

Egypt’s Minister of Agriculture and Land Reclamation, Alaa Farouk, stated that Egypt has taken significant steps to achieve food security and reduce the food gap in several strategic crops. Speaking at the World Food Summit in the United Arab Emirates, Minister Farouk addressed a ministerial dialogue session chaired by the…

Egypt’s Minister of Local Development, Manal Awad, announced that the National Project for Community, Human, and Local Development, known as “Mashroak,” has financed over 219,000 projects with loans totaling EGP 29.8bn since its inception in 2015. These projects have collectively created more than 1.45 million job opportunities across the country’s…

Egypt’s Minister of Civil Aviation Sameh El-Hefny has met with representatives from airlines operating in Egypt and officials from the Chamber of Tourism Companies. The purpose of the meeting was to explore opportunities for enhanced cooperation and to address the challenges facing the aviation and tourism sectors, with the aim…

Egypt’s Minister of Finance Ahmed Kouchouk emphasized that achieving sustainable development requires substantial budgets, necessitating collective efforts to yield tangible results. He highlighted that high financing costs remain the primary obstacle to sustainable development initiatives in developing and African nations. Speaking at the 8th session of the meeting of government…

Fitch Ratings, a global credit rating agency, has upgraded Egypt’s Long-Term Foreign-Currency Issuer Default Rating (IDR),  a measure of a country’s ability to meet its financial obligations in foreign currencies, from ‘B-’ to ‘B,’ with a positive outlook as of 1 November. Credit rating agencies assess the creditworthiness of nations…