Day: December 21, 2024

Gold prices saw a slight uptick in local markets on Saturday, following a weekend closure of the global exchange. This increase came after a week of losses, with the price of gold dropping around 1% globally, according to a report from the iSagha online platform. Saeed Embaby, CEO of iSagha,…

Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade, outlined the government’s ongoing efforts to foster a more competitive and investment-friendly business environment. Speaking during a meeting with a delegation of MBA students from Stanford University visiting Cairo to learn about Egypt’s business landscape, El-Khatib emphasized the role of comprehensive…

Alaa Nasr El-Din, a board member of the Wood and Furniture Chamber at the Federation of Egyptian Industries (FEI), highlighted the significant strides made by Egypt’s industrial sector in 2024, noting key economic and commercial developments that have positively impacted the sector. Nasr El-Din pointed to the elimination of industrial…

Amr Talaat, Egypt’s Minister of Communications and Information Technology, chaired a pivotal meeting of the Supreme Cybersecurity Council, where members reviewed and discussed the progress of projects under the National Cybersecurity Strategy for 2023–2027. The session focused on essential cybersecurity measures across various state sectors, including implementation plans and strategies…

Egypt’s Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat oversaw the delivery of agricultural mechanisation equipment to agricultural and marketing cooperatives, alongside the distribution of microenterprise grants to rural women, during an inspection tour of the Sustainable Agricultural Investments and Livelihoods Project (SAIL) in Minya Governorate. The event,…

In a significant strategic move aligned with its ongoing efforts to develop and integrate the financial infrastructure across Africa, the Central Bank of Egypt (CBE) announced its decision to join the Pan-African Payment and Settlement System (PAPSS), effective November 2024. This initiative, publicly confirmed by the African Export-Import Bank, builds…

Abu Dhabi Commercial Bank (ADCB) has reached a significant milestone in its sustainability journey by obtaining the EDGE Green Building Certificate. This certification includes the bank’s headquarters and 20% of its branch network across Egypt. The EDGE certificate, provided by the International Finance Corporation (IFC), a member of the World…

Commercial International Bank – Egypt (CIB) has officially signed a memorandum of understanding (MoU) with the 10th of Ramadan Investors Association (TRIA) to enhance collaboration with manufacturers and provide vital support aimed at boosting the national industry through innovative and comprehensive banking solutions. The MoU outlines a commitment to cater…

Mona Zulficar, Chairperson of the Egyptian Medium, Small and Micro-Enterprise Finance Federation, announced that civil society organizations and financing companies are employing a strategic approach to select micro-enterprise clients for financing in challenging economic times. She emphasized that these procedures ensure a balance between institutional sustainability and client protection, thereby…

The Central Bank of Egypt (CBE) announced a net foreign assets surplus of $11.8bn for November 2024, marking the seventh consecutive month of positive growth. This figure corresponds to EGP 585.4bn, a notable rise from $10.6bn (EGP 520.1bn) in October 2024. The net foreign assets are a critical indicator of…