Day: February 2, 2025

During his visit to Kuwait, Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met with a delegation from AREF Investment Group to discuss the company’s current projects in Egypt and explore new investment opportunities. The meeting highlighted AREF’s existing investments in Egypt, which total $120m, and the company’s growing…

Rasha Abdel Aal, head of the Egyptian Tax Authority, has affirmed that the Minister of Finance is committed to implementing a new package of tax incentives and flexible procedures aimed at reducing burdens on taxpayers and fostering trust between businesses and the tax administration. She emphasized that modernizing the tax…

The Suez Canal successfully facilitated the transit of the ADMARINE260 rig on Saturday, employing a non-standard towing and piloting procedure. The Liberian-flagged rig, measuring 45 metres long and 48 metres wide with a total weight of 3,543 tonnes, was towed by three Suez Canal Authority (SCA) tugboats and guided by…

Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, met with manufacturers in Kafr El-Sheikh to address industry challenges and explore solutions to enhance investment and industrial growth in the governorate. Kafr El-Sheikh is home to two major industrial zones spanning a total of 1,971…

The Central Bank of Egypt (CBE) will offer a $1bn local treasury bill tender on Monday. The proceeds of this tender will be directed to pay the maturity of a previous tender that was offered on February 6, 2024, through which CBE withdrew $1.061bn.   CBE received 29 offers worth…

Prime Minister Mostafa Madbouly held a high-level meeting on Sunday to assess the progress of joint projects between Egypt and the UAE. The meeting was attended by Vice Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir, along with UAE Minister of Industry and Advanced Technology…

The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) provided over EGP 500m in financing for MSMEs in January 2025, in collaboration with leading banks and financial institutions, alongside direct funding through its branches across Egypt. This initiative aligns with the government’s strategy and the directives of the Prime Minister…

Egypt’s Financial Regulatory Authority (FRA) Chairperson Mohamed Farid stressed the importance of bolstering the resilience of non-bank financial institutions against various shocks, calling it a key objective for all regulatory bodies. He noted that a thorough understanding and proactive management of risks enhances the stability of these institutions, highlighting their…

Jawad Developments has launched its latest project, Hayah Residence, in 6th of October City, West Cairo. Spanning 42,000 sqm, the development is strategically situated on Al-Wahat Road, adjacent to MSA University, the tourist promenade, Carrefour, and key landmarks such as Mall of Egypt, Mall of Arabia, and Dar Al Fouad…