Month: January 2025

Investments by Norway’s sovereign wealth fund in companies listed on the Egyptian stock exchange decreased during 2024, reaching $100.3 million in 11 companies by the end of the year, compared to $134.6 million in 13 companies during 2023. According to data published on its website, the investment portfolio of the…

Towns & Seas has officially launched with a transformative vision to redefine real estate development, blending cultural heritage with modernity to create fully integrated luxury communities. Under the leadership of its founder and CEO, Eng. Mohamed El Haddad, the company is committed to developing innovative projects that cater to present…

The Central Bank of Egypt on Wednesday announced a significant increase in remittances from Egyptians abroad, reaching $26.3 billion from January to November 2024. The bank added in a statement that remittances from Egyptians working abroad continued to achieve successive leaps following the reform measures taken in March 2024. They…

The New Urban Communities Authority (NUCA), under the leadership of Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny, has approved a set of payment facilities for settling overdue financial dues on various properties. These include residential, administrative, and commercial units, as well as land plots, villas, and beachfront properties…

Mohamed Salah El-Din, Egypt’s Minister of State for Military Production, chaired Wednesday a meeting with the boards of directors of companies and affiliated units within the Ministry of Military Production, along with sector heads and advisors from the National Authority for Military Production. The main agenda item was the discussion…

Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade, held a key meeting with a delegation from the Jeune Afrique media group to review the final arrangements for the upcoming African Investment and Finance Forum. The discussion included Florian Servaty, Executive Vice President of Jeune Afrique; Jihan Saleh, Economic Advisor…

Egypt has confirmed the discovery of at least eight million barrels of oil in the East Crystal-1 well in the Gulf of Suez, the petroleum ministry announced on Wednesday. The exploratory well was drilled by UAE-based Dragon Oil, through the Gulf of Suez Petroleum Company (GUPCO). The drilling of the…

IRSC, a leader in renewable energy solutions and sustainability, has signed a partnership agreement with Sumitomo Electric Wiring Systems Egypt, a global manufacturer of automotive electrical systems, to design, supply, and install solar PV power plants on the rooftops of Sumitomo’s industrial facilities. This collaboration underscores Sumitomo Electric Wiring Systems…

Egypt’s Minister of Environment, Yasmine Fouad, and her Jordanian counterpart, Muawia Radaideh, held a virtual meeting to discuss the latest developments within the Regional Organization for the Conservation of the Environment of the Red Sea and Gulf of Aden (PERSGA). Fouad, who currently chairs the Ministerial Council of PERSGA, outlined…