Month: February 2025

The Federation of Egyptian Banks issued an official statement completely denying any connection or relationship with the “GRA” platform, stressing that this platform is not associated with any of the banks operating in Egypt, which work under the supervision and control of the Central Bank. The statement indicated that no…

Tatweer Misr is making history being the first real estate developer in Egypt to earn the prestigious SmartScore Platinum Certification rating as a best-in-class Smart Building from WiredScore. This comes as an achievement for its state-of-the-art headquarters in Arkan Plaza, Sheikh Zayed, and a milestone in smart building innovation that reinforces the company’s commitment to incorporating…

Egypt has launched a new social package on Thursday to support groups impacted by rising prices, worth LE200 billion (US$4 billion) during Ramadan and the new fiscal year, Prime Minister Mostafa Madbouly announced. Ashraq Business reported that this new package includes raising the minimum wage for state employees to LE7,000…

Said Zater has stepped down as CEO of Contact Financial Holding to take on a new role as Vice Chairman of the Board and Board Advisor. This transition marks the culmination of his 24-year leadership journey, during which he played a key role in establishing Contact as one of Egypt’s…

Elsewedy Electric Group has secured a major engineering, procurement, and construction (EPC) contract for Hungary’s largest combined cycle power plant (CCPP) in decades. Awarded by MVM Matra Energia Zrt., a subsidiary of the Hungarian Electric Company (MVM), this milestone project marks Elsewedy Electric’s first significant venture in Europe, reinforcing its…

As part of Egypt’s commitment to deepening ties with African nations, the Central Bank of Egypt (CBE) has welcomed a high-level delegation from the Bank of Tanzania (BOT), led by its Deputy Governor. The visit aligns with the joint cooperation program between the two central banks, aimed at fostering knowledge…

Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), has announced the release of an introductory guide for the Tax Facilitation Initiative. This guide provides a comprehensive explanation of the initiative’s provisions, eligibility criteria, and step-by-step procedures, ensuring that every taxpayer and entity can fully understand how to benefit…

Egypt’s Minister of Civil Aviation, Samah Hefni, met with Kazakhstan’s Ambassador to Cairo, Askar Zhenis, to discuss strengthening bilateral cooperation in aviation. The meeting focused on increasing direct flights between the two countries to boost tourism and exploring the launch of air cargo services between Cairo and Almaty to enhance…

As part of its ongoing efforts to attract and expand investments in exploration, production, and development, the Ministry of Petroleum and Mineral Resources closed bidding for 13 exploration and production areas, with offers totaling more than $700m in expected investments. This amount could potentially double if new discoveries are made…

The Egyptian government has launched a social support package valued at EGP 200bn to assist citizens facing rising prices. Prime Minister Mostafa Madbouly announced the measures on Wednesday, stating that the package will be implemented during Ramadan and the upcoming fiscal year. The package includes increasing pensions by 15% beginning…