Day: August 24, 2025

Al-Ahli Bank of Kuwait – Egypt (ABK-Egypt) announced on Sunday the renewal of its bancassurance partnership with MetLife Egypt for an additional seven years, extending a collaboration that has spanned more than a decade and significantly expanded insurance coverage for the bank’s customers.   The renewal was formalized at a…

Minister of State for Military Production Mohamed Salah El-Din Mostafa has appointed Salah Soliman Gomblat as Vice Chairperson and Managing Director of the National Authority for Military Production. The move comes is part of the ministry’s drive to inject fresh blood into the authority, drawing on executives with strong managerial…

Saib Bank has signed a medium-term financing agreement with the Egyptian International Construction Company (EICC) to fund the “Taj Tower” project in the New Administrative Capital, with a total investment of EGP 4.8bn. The agreement was formalized in a signing ceremony attended by key executives, including Akmal Naguib, CEO and…

Egypt continues to assert its leadership in the regional pharmaceutical industry, producing approximately 80% of its own pharmaceutical needs through over 170 licensed factories, which together produce more than 150 million medicine packs annually. This milestone was underscored as the 12th edition of Pharmaconex, the region’s premier pharmaceutical exhibition, kicked…

Egypt’s Islamic banking sector has seen significant growth, with total market size reaching EGP 1.303trn by June 2025, marking a 51% increase from the previous year, according to Mohamed El-Beltagy, Chairperson of the Egyptian Islamic Finance Association. This includes assets of Islamic banks, sukuk issuances, and other Sharia-compliant financial activities.…

Egyptian Prime Minister Mostafa Madbouly on Thursday met with the head of the Central Agency for Organisation and Administration (CAOA) to review the agency’s efforts in administrative development and institutional reform. During the Sunday meeting in New Alamein, Madbouly stressed the importance of strengthening the agency’s role in improving the…

The World Bank has financed 201 projects in Egypt worth a total of $27.5bn since it began its support in 1959, focusing on infrastructure, human capital, and private sector development, the bank said in a recent report. The report details the developments of the strategic partnership with Egypt, including the…

Egypt’s Deputy Prime Minister and Minister of Health, Khaled Abdel Ghaffar, held a meeting on Sunday with representatives of the Arab Company for Drug Industries and Medical Appliances (ACDIMA) to discuss strengthening cooperation in the pharmaceutical sector, the Health Ministry said in a statement.   The meeting, held at the…

Lozan Urban Developments (LUD) has officially signed a partnership agreement with Al-Amal Engineering & General Contracting Company, headed by Haitham Farhat, to begin the construction of the highly anticipated Apex Business Complex in the New Administrative Capital. This follows the successful completion of preliminary shoring works and the acquisition of…