Day: December 16, 2024

Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, has met with Qatar’s Minister of State for Energy Affairs, Saad bin Sherida Al Kaabi, and Algeria’s Minister of Energy and Mines, Mohamed Arkab to discuss increased cooperation and investment in the energy sector, particularly focusing on exploration and production. The…

Egypt’s Prime Minister Mostafa Madbouly met on Monday with Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef at the government headquarters in the New Administrative Capital to discuss enhancing bilateral cooperation in the industrial and mining sectors. The meeting was attended by Deputy Prime Minister for Industrial Development…

An Egyptian-Gulf alliance of three leading real estate developers—SIAG Developments, El Alwy Urban Development, and Misk Development—has launched Mahawer Developments, a new company aimed at investing EGP 7bn in real estate projects across New Damietta and the Delta region. The founders of Mahawer Developments emphasized that the company’s mission is…

Emtalak has officially entered the Egyptian market, announcing its launch with a strategic partnership agreement with Uptown 6 October, a prominent real estate development company. This collaboration marks Emtalak’s debut in the real estate sector, introducing a new approach to property investment through fractional ownership. The partnership aims to democratize…

CI Capital Holding for Financial Investments has announced the successful exit from its investment in Taaleem Management Services after a five-year holding period, delivering exceptional returns. The exit generated four and a half times the equity invested, achieving an Internal Rate of Return (IRR) of approximately 50%. Throughout its investment…

The Central Bank of Egypt (CBE) recently completed its annual Business Continuity Plan (BCP) and Business Continuity Management System (BCMS) drill, further reinforcing its commitment to international standards in crisis management, particularly ISO 22301. The exercise, held on Thursday, December 5, 2024, was organized by the Bank’s Risk Management Sector,…

Egypt and Germany have strengthened their economic partnership with the signing of agreements worth a total of €77.3m, aimed at supporting development across multiple sectors. The agreements include a debt swap and grant funding for projects focused on technical education, health, and social services. The signing ceremony, which took place…

The Iranian economy experienced a 4 per cent growth in the first half of the current Iranian fiscal year, spanning March 21 to September 22, 2024, according to a recent report by the Iranian Statistical Centre. When excluding the oil sector, the growth rate was 2.6 per cent. The national…