Day: February 22, 2025

The Ministry of Housing, Utilities, and Urban Communities has officially launched the Your Home in Egypt initiative, which provides Egyptian expatriates with the opportunity to purchase residential units in 12 prestigious projects across the country. This initiative, launched in collaboration with the Ministries of Foreign Affairs and Immigration and Expatriates’…

Egypt and Bahrain are keen to strengthen their economic partnership. Rania Al-Mashat, Minister of Planning and Economic Development, attended the Egyptian-Bahraini Joint Committee meeting here and stressed the close ties between the two nations. The meeting, chaired by Ahmed Kouchouk, Egypt’s Minister of Finance and Shaikh Salman bin Khalifa Al…

The Chairperson of the Egyptian Drug Authority (EDA), Ali Ghamrawy, has met with a high-level delegation from Sandoz, a global pharmaceutical company, to discuss strengthening cooperation and localising the production of oncology drugs in Egypt. The Sandoz delegation was headed by Cenkiz Zaim, Head of META (Middle East, Turkey, and…

Gold prices surged in local markets on Saturday, coinciding with the weekend closure of global stock exchanges. This follows an eighth consecutive week of gains, with gold rising by 1.8% amid heightened global uncertainty and strong Central Bank of Egypt’s (CBE) purchases, according to the iSagha platform. Saeed Embaby, CEO…

The Housing and Development Bank (HDB) has reported a substantial increase in pre-tax and provisioned profits, reaching EGP 16.855bn in 2024, compared to EGP 9.444bn in 2023. This marks a rise of EGP 7.411bn or 78.5%. Net profits after tax climbed to EGP 11bn, up from EGP 6bn, reflecting an…

The Central Bank of Egypt (CBE) has once again opted to keep interest rates unchanged, marking the seventh consecutive time it has done so. The Monetary Policy Committee (MPC) cited increased inflation risks compared to its last meeting on December 26, 2024, as the primary reason behind this decision. During…

Inertia Egypt has unveiled its 2025 investment strategy, reinforcing its commitment to growth with EGP 8bn in planned investments. The company aims to accelerate construction and delivery across its projects while expanding its portfolio. CEO Ahmed El Adawy stated that Inertia Egypt plans to hand over 900 residential units in…

Chairperson of the Egyptian Mineral Resources Authority (EMRA), Yasser Ramadan, met with representatives from SLB (formerly Schlumberger) to discuss potential collaboration in lithium extraction and critical minerals, in a move to strengthen Egypt’s mining sector. The Saturday meeting took place on the sidelines of the EGYPES 2025 conference in Cairo.…