Day: May 14, 2025

The Embassy of the Republic of Korea in Egypt and the Korea Trade-Investment Promotion Agency (KOTRA) jointly organised the 2025 Korea-Egypt Manufacturing Partnership Seminar in Cairo on 14 May 2025, aimed at bolstering cooperation in manufacturing supply chains.   The event, held at the Four Seasons Hotel Cairo at Nile…

Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, met with an International Monetary Fund (IMF) mission, led by Ivanna Vladkova Hollar, on Wednesday to review macroeconomic indicators, the national structural reform programme, and external financing to bridge the funding gap. The 14 May 2025 meeting covered developments…

Egypt’s President Abdel Fattah Al-Sisi held a series of high-level meetings on Wednesday to assess progress in Egypt’s human development strategy, with a particular focus on healthcare, population policy, and education reform. Meeting with Prime Minister Mostafa Madbouly and Deputy Prime Minister for Human Development and Minister of Health and…

Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), has announced the establishment of several specialized units designed to support businesses and streamline tax processes. The new units—Investor Support, Advance Tax Rulings, and Tax Complaints—form part of a broader initiative to enhance responsiveness to investors and improve the overall…

Egypt’s government is currently developing sustainable strategies to facilitate investment flows and trade among African nations, aiming to create integrated partnerships with key players on the continent, including Morocco, to boost intra-African investment and trade, according to Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI).…

Osama Rabie, Chairperson of the Suez Canal Authority (SCA), met on Wednesday with a senior delegation from A.P. Moller–Maersk Group to explore opportunities for renewed cooperation and a potential resumption of canal transits. The meeting, held at the SCA headquarters in Ismailia, came as part of Maersk’s official visit to…

Egypt’s Food Export Council reported that food industry exports reached approximately $6.1bn in 2024, marking a 21% increase from 2023. The council said that frozen vegetables and fruits contributed $960m, representing 16% of the sector’s total exports. The council participated in a meeting organized by the Frozen and Processed Fruits…

Orascom Development Egypt (ODE) reported a strong start to the year, with total revenues rising 54.3% year-on-year to EGP 6.4bn in the first quarter (Q1) of 2025. Gross profit more than doubled, increasing by 130.2% to EGP 3.3bn. This resulted in a gross profit margin of 50.7%, up significantly from…

Beltone Holding has announced strong financial results for the first quarter (Q1) of 2025, with consolidated operating revenues reaching EGP 2.8bn—a 2.2x increase year-on-year. Net profit surged to EGP 703m, marking a 1.4x year-on-year growth. The Group’s total outstanding lending portfolio also saw significant growth, more than doubling to EGP…