Day: November 4, 2025

The National Bank of Egypt (NBE) has signed a long-term financing agreement worth EGP 3bn with Ora Developers Egypt to help fund part of the investment cost for Solana West, one of the company’s flagship real estate developments in West Cairo. The partnership aligns with the state’s strategy to foster…

Egypt’s Health Minister Khaled Abdel Ghaffar announced on Tuesday the launch of the new Eva Pharma Oncology and Hematology Division, marking a significant milestone in the country’s efforts to localize advanced pharmaceutical manufacturing and enhance national health security. Speaking at the launch event in Cairo, Abdel Ghaffar highlighted that Egypt’s…

Egypt’s Acting Environment Minister, Manal Awad, announced that the Green Climate Fund (GCF) Board has approved $50m for climate-tech investments in Egypt. This funding is part of the Novastar Investment Fund III, a $200m equity venture aimed at mobilizing climate-related financing across five African countries, including Egypt. Awad explained that…

The Suez Canal Economic Zone (SCZONE) signed on Tuesday a contract with H&L Egypt Apparel, a subsidiary of South Korea’s H&L Group, to establish a ready-made and sports garments factory in the West Qantara Industrial Zone with investments totaling $12m (EGP 570m). The agreement was signed by Walid Gamal El-Din,…

Egypt and Lebanon have signed several memoranda of understanding (MoUs) to strengthen cooperation and exchange expertise in economic and development policy-making, including two MoUs with Egypt’s Ministry of Planning and its affiliated Institute of National Planning (INP). The signings took place during the Egyptian-Lebanese Higher Joint Committee, which concluded its…

Commercial International Bank (CIB) announced Tuesday a consolidated net income of EGP 28.8bn for the third quarter of 2025, bringing its nine-month net income to EGP 62.1bn, or EGP 18.5 per share – a robust 47% increase year-on-year. Management attributed the strong results to a recalibration of the Bank’s Expected…

Egypt’s Finance Ministry has launched a new EGP 200bn ($4.2bn) sovereign sukuk programme for the local market, as part of its strategy to diversify its investor base and reduce the cost of debt servicing, the ministry said. In a statement on Tuesday, the ministry announced that the first issuance under…

Palmier Developments has announced the launch of its latest mixed-use project, VERT, located in New Sheikh Zayed City, Giza Governorate. Spanning 30 feddans (approximately 126,000 sqm) with a built-up area of 53,300 sqm, the project represents a new step in the company’s expansion strategy in West Cairo. VERT features 213…