Day: March 22, 2025

Egypt’s General Authority for Investment and Free Zones (GAFI) and Mashreq Bank Egypt have signed a memorandum of understanding (MoU) to enhance cooperation in the field of investment and promote Egypt’s growing business opportunities.   The MoU was signed on Saturday by Hossam Heiba, CEO of GAFI, and Amr El-Bahei,…

Air Liquide Egypt and United Energy Group (UEG) have signed a Memorandum of Understanding (MoU) to collaborate on sustainable energy transition projects in Egypt, focusing on the production of low-carbon ammonia derived from renewable hydrogen. Egypt, with its abundant renewable resources and supportive ecosystem, is poised to become a global…

Egypt’s annual urban headline inflation fell significantly to 12.8% in February 2025, down from 24.0% in January, marking its lowest level in nearly three years. This sharp decline was largely driven by a favorable base effect and stable monthly price trends. Annual core inflation also dropped substantially to 10.0% in…

Global gold prices continued their upward trajectory last week, marking a third consecutive weekly gain despite a pullback in the final two trading sessions after reaching an all-time high. Over the past week, gold prices rose by 1.3%, peaking at a record $3,057 per ounce. The week began at $2,988…

Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny recently met with representatives from the companies involved in the Fustat Hills Gardens project in Old Cairo. The meeting marked the beginning of his inspection visit on Saturday, which aimed to evaluate the project’s progress and accelerate its development. El-Sherbiny received…

The Commercial International Bank (CIB) and Nile University recently celebrated the graduation of the first cohort from the Sustainable Finance Programme, an initiative developed with CIB’s support under the auspices of the Central Bank of Egypt (CBE). This programme is part of CIB Egypt’s ongoing collaboration with leading educational institutions…

The Central Bank of Egypt (CBE) recorded a net profit of EGP 133.4bn in February 2025, up from EGP 123.9bn in January, according to its latest financial statement. Total assets grew to EGP 6.31trn, compared to EGP 6.28trn the previous month. Meanwhile, total equity increased to EGP 189.7bn from EGP…

HSBC has unveiled an innovative cash concentration solution designed to help corporate clients navigate the Middle East’s accelerating digital transformation. The HSBC Seven-Day Cash Concentration Solution empowers businesses to automate in-country liquidity management every day of the week, including weekends and national holidays. This marks a first for the Middle…