News – Page 109 – Al Khaber for Accounting And Auditing Services

Al-Sisi reviews banking sector performance as Egypt’s foreign reserves reach record high

February 21, 2026

Egypt’s President Abdel Fattah Al-Sisi met Central Bank Governor Hassan Abdalla on Saturday to review developments in the banking sector and monetary policy, as official data showed foreign reserves climbing to a historic high, according to a presidential statement. The meeting examined financial sector performance in 2025, underscoring what the…

Egypt’s Foreign, Planning Ministers coordinate to mobilise international development funding

February 21, 2026

Egyptian Minister of Foreign Affairs, International Cooperation and Egyptians Abroad Badr Abdelatty and Minister of Planning and Economic Development Ahmed Rostom met on Saturday to coordinate the mobilisation of international financing and technical support for the state’s public investment plans. The meeting was held to align government efforts with Egypt’s…

Egypt PM orders utility cuts for illegal building on agricultural land

February 21, 2026

Egyptian Prime Minister Mostafa Madbouly has ordered the immediate suspension of utility services to any site where illegal construction on agricultural land is detected, describing the protection of farmland as a matter of “national security” linked directly to the state’s food security. Speaking during the first meeting of the newly…

CBE explains January inflation slowdown as non-food pressures ease

February 21, 2026

The Central Bank of Egypt (CBE) has outlined the main factors behind the moderation in inflation in January 2026, as annual urban headline inflation fell to 11.9%, down from 12.3% in December 2025. The decline was primarily driven by a drop in annual non-food inflation to 18.6% – its lowest…

Residents evacuated to hotels following water pipe burst at Cairo Metro Line 4 station

February 21, 2026

Egypt’s Transport Minister Kamel al-Wazir said the safety of citizens and property is a “top priority” during an inspection of the Cairo Metro Line 4 project, following minor ground subsidence at a residential building near the Malek el-Saleh station site. The minister, accompanied by National Authority for Tunnels (NAT) Chairman…

Egypt-Saudi electricity interconnection enters final testing phase, launch expected within weeks

February 21, 2026

Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, has announced that the Egypt-Saudi electricity interconnection project has entered its final testing stage, with close coordination under way with Saudi counterparts to complete trial operations and begin grid connection within the coming weeks. The announcement came during a field visit…

Ministers of Investment, Sports plan investment fund to boost Egyptian athletes’ international performance

February 21, 2026

Egypt is considering the establishment of an investment fund to provide sustainable and innovative financing for the country’s sports talent, Investment and Foreign Trade Minister Mohamed Farid said. Farid met with Youth and Sports Minister Gohar Nabil to discuss utilising investment fund models to support and qualify promising athletes for…

Suez Canal Bank expands footprint in Upper Egypt with new Sohag branch

February 21, 2026

Suez Canal Bank has announced the opening of its latest branch in Sohag, as part of its ambitious geographic expansion strategy The expansion aligns with Egypt Vision 2030 and the policy direction of the Central Bank of Egypt to promote sustainable development and deepen financial inclusion nationwide. The inauguration ceremony…

Strong growth in saib’s loans, credit facilities portfolio and customer deposits by end-2025

February 21, 2026

The 2025 results of SAIB Bank showed strong growth in its loans and credit facilities portfolio, which reached EGP 79.1bn. According to the bank’s financial statements, the loans and credit facilities portfolio in local currency rose to EGP 57.7bn in 2025, compared with EGP 43.4bn in 2024—an increase of EGP…

AAIB funds Upper Egypt’s 1st AI-powered integrated radiotherapy system

February 19, 2026

Arab African International Bank (AAIB) has signed an agreement with Siemens Healthineers to provide Assiut University Hospitals with Upper Egypt’s first integrated artificial intelligence-powered radiotherapy system, the bank announced on Thursday. The agreement makes AAIB the first private bank in Egypt to support the procurement of a comprehensive radiation therapy…