Day: December 30, 2024

Prime Minister Mostafa Madbouly convened a meeting with Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, to review the latest developments across several national projects. During the meeting, El-Sherbiny presented several proposed land plots along Egypt’s North West Coast for future development, highlighting their potential for mixed-use and tourism…

The Central Agency for Public Mobilization and Statistics (CAPMAS) has reported a 5.24% increase in the Manufacturing and Extractive Industries Production Index for October 2024. The index, which excludes crude oil and petroleum products, reached 112.32 in October, up from 106.73 in September 2024. This growth reflects a positive shift…

Banque Misr has announced a significant increase in its mortgage portfolio, which rose by approximately EGP 3bn in 2024, bringing the total portfolio to EGP 21bn. This growth benefits approximately 145,000 clients, making the bank’s mortgage portfolio one of the largest in Egypt’s local market. As a leader in the…

The Egyptian House of Representatives has approved an agreement with the African Development Bank (AfDB) for $131m to finance the first phase of the Private Sector Development and Economic Diversification Program, a component of the country’s general state budget support. The decision, President No. 383 of 2024, was ratified during…

Beltone Holding has revealed the reasons behind its decision to increase its authorized capital from EGP 11bn to EGP 22bn, and its issued and paid-up capital from approximately EGP 10.926bn to about EGP 21.676bn. The company disclosed these plans in a statement to the Egyptian Exchange on Monday. The primary…

In line with Egypt’s Vision 2030 to foster digital transformation, the Central Bank of Egypt (CBE) has issued a new set of decrees extending the exemption of fees and commissions for bank transfers made via electronic channels, including internet banking and mobile banking apps in Egyptian pounds. This exemption also…

The Ministry of Health and Population has announced a comprehensive medical plan to ensure public health during the upcoming New Year’s and Christmas celebrations in 2025. This initiative is part of the ministry’s ongoing efforts to safeguard citizens’ health during festive periods. Khaled Abdel Ghaffar, Deputy Prime Minister and Minister…

Banque Misr arranged, financed, and participated in 29 major financing deals valued at EGP 211.8bn in 2024. The bank’s share in these transactions amounts to approximately EGP 69bn. In a statement released on Monday, the bank highlighted that these deals span a wide range of sectors, including real estate investment,…

Egypt’s Prime Minister Mostafa Madbouly chaired a meeting of the government offerings committee on Monday to review the progress of previously announced targeted company sales, with a focus on expediting the offering of four military-affiliated companies. The Prime Minister conveyed a directive from President Abdel Fattah Al-Sisi to expedite the…