June 15, 2025 – Al Khaber for Accounting And Auditing Services

Banks in Egypt report EGP 152.8bn in net profits for Q1 2025: CBE

June 15, 2025

Banks operating in the Egyptian market recorded net profits of approximately EGP 152.76bn during the first quarter of 2025, according to a report released by the Central Bank of Egypt (CBE). The report revealed that banks’ net interest income reached EGP 253.45bn during the quarter, while net operating income amounted…

IFC, AMEA Power launch Egypt’s first utility-scale battery storage system

June 15, 2025

The International Finance Corporation (IFC) announced on Sunday a landmark investment to support the development of Egypt’s first utility-scale battery energy storage system (BESS), in partnership with AMEA Power and the Government of Egypt. The project aims to enhance grid resilience and support the country’s transition to clean energy. The…

Egypt to launch first airport management, operation tenders before year-end: Madbouly

June 15, 2025

Prime Minister Mostafa Madbouly announced on Sunday that Egypt will offer its first airports for private management and operation before the end of the year, marking a major step in the country’s privatization drive. The announcement came during a meeting with Makhtar Diop, Managing Director of the International Finance Corporation…

Egypt secures $15.6bn in concessional financing for private sector since 2020: El-Mashat

June 15, 2025

Minister of Planning, Economic Development, and International Cooperation Rania El-Mashat announced during the “Development Finance to Foster Private Sector-Led Growth & Jobs” conference that concessional development financing for Egypt’s private sector reached $15.6bn between 2020 and May 2025. This financing was provided through more than 30 bilateral and multilateral development…

FRA issues temporary licensing conditions for medical insurance, healthcare programme firms

June 15, 2025

The Financial Regulatory Authority (FRA), under the leadership of Mohamed Farid, has issued Decision No. 90 of 2025, introducing a temporary licensing framework for specialist medical insurance companies and healthcare programme management firms. This initiative is intended to facilitate continued operations by these entities while they align with the provisions…

EHA, Konecta explore strategic partnership in digital transformation, smart healthcare

June 15, 2025

Ahmed El-Sobky, Chairperson of the Egypt Healthcare Authority (EHA), met with Tawfik Kandil, General Manager of Konecta Egypt, and Safinaz El-Kattam, Chief Business Officer for the Middle East and Africa, to explore potential collaboration in the areas of digital transformation and smart healthcare solutions. El-Sobky emphasized that the meeting reflects…

Supply Minister reviews strategic stock of basic commodities to ensure availability

June 15, 2025

Sherif Farouk, Minister of Supply and Internal Trade, held a high-level meeting with senior officials of the Holding Company for Food Industries to assess the status of Egypt’s strategic stock of essential commodities. The session focused on monitoring supply levels, production rates, and the efficiency of the distribution network. This…

Egypt announces 2nd oil discovery in 3 months at Abu Sannan, producing 1,400 bpd

June 15, 2025

In line with the Ministry of Petroleum and Mineral Resources’ strategy to boost domestic production and optimize output from mature fields, the General Petroleum Company (GPC) has announced a new oil discovery in the Abu Sannan area of Egypt’s Western Desert. The well, designated GPR-1X, is located in the mature…

Securitizing Ras Shokeir revenues offers new asset investment model without ownership transfer: Bokra Holding

June 15, 2025

Ayman El-Sawy, Founder and CEO of Bokra Holding, hailed the recent decision to transfer ownership of a vast land plot in the Ras Shokeir area—spanning approximately 174.4 million square meters on the Red Sea coast—from the state to the Ministry of Finance as a pivotal step toward modernizing Egypt’s state…

Rock Developments to launch new 17-feddan residential project in New Heliopolis

June 15, 2025

Rock Developments is set to unveil its latest residential community in East Cairo, located in the heart of New Heliopolis. The official launch is expected by the end of the month. Emad Doss, Managing Director of Rock Developments, stated that the upcoming project represents a key milestone in the company’s…

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Day: June 15, 2025