Day: August 16, 2025

Egyptian Prime Minister Mostafa Madbouly on Saturday directed provincial governors to immediately begin forming committees to survey properties subject to the country’s “old rent” law, as a first step towards implementing a new landlord-tenant regulation. The directive was issued during a meeting of the council of governors at the government’s…

Egypt recorded its highest-ever primary budget surplus in fiscal year 2024/2025, reaching EGP 629bn ($13.2bn), equivalent to 3.6% of GDP, the presidency announced on Saturday. The figure represents an 80% increase compared with the previous year, despite a steep decline in Suez Canal revenues. Finance Minister Ahmed Kouchouk briefed President…

Egypt has received a collection of rare artefacts from the Netherlands, dating back to different eras of ancient Egyptian civilisation, as part of ongoing international cooperation to combat the illicit trafficking of cultural property. The handover took place through the Egyptian Embassy in The Hague, with the artefacts returned by…

Egypt’s Minister of Communications and Information Technology Amr Talaat met on Saturday with Jordan’s Minister of Digital Economy and Entrepreneurship Sami Smeirat and South Sinai Governor Khaled Mubarak, via video conference, to witness the landing of the high-capacity Coral Bridge submarine cable system in Taba, Egypt. The Coral Bridge is…

Egypt’s Ministry of Water Resources and Irrigation announced on Saturday that water harvesting and flood protection structures in the Sinai Peninsula successfully captured around 315,000 cubic metres of rainwater during last week’s storm, helping safeguard residents and infrastructure. Minister Hani Sewilam received a detailed report from Abu Bakr El-Rouby, head…

United Bank reported a net profit of EGP 1.508bn for the first half (H1) of 2025, compared to EGP 1.188bn in H1 2024, marking a year-on-year growth of 26.9%. Pre-tax profits reached EGP 2.081bn, up from EGP 1.565bn, an increase of 33%. According to the bank’s financial statements, interest income…

Abu Dhabi Islamic Bank–Egypt (ADIB Egypt) announced strong financial results for the first half of 2025, with consolidated financial statements showing pre-tax profits of EGP 8.428bn in June, compared to EGP 6.220bn in the same period of 2024. Net profit rose to EGP 6.233bn, up from EGP 4.578bn a year…

Saib reported a net profit of $16.863m for the first half (H1) of 2025, compared to $20.546m in the same period of 2024. The bank’s total profit stood at $25.264m, down from $29.225m in H1 2024. Despite the decline in bottom-line figures, the bank’s financial indicators highlighted robust growth in…