Day: January 29, 2025

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…

The Central Bank of Egypt (CBE) has announced a remarkable rise in remittances, with Egyptians working abroad sending home $26.3bn during the first 11 months of 2024—up from $17.9bn in the same period of 2023. This marks an impressive growth rate of 47.1%. In a statement released on Wednesday, the…

The Urban Development Fund (UDF) has announced that the first phase of its flagship “Darah” project will be delivered in the first half of 2025. This phase includes 5,000 housing units across multiple governorates, with infrastructure and utility installations already completed. The project, valued at over EGP 72 billion, aims…

The Saipem 10000 drillship arrived in Egyptian waters on Tuesday to begin drilling new wells at the Zohr natural gas field, located north of Port Said. This activity aims to rapidly increase production at the field, according to the Egyptian Ministry of Petroleum and Mineral Resources. The drilling campaign, costing…