News
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Egypt continues to drive growth in the regional M&A space
Egypt’s M&A landscape is showing signs of recovery, with a 21% year-on-year increase in H1 2024.
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Town Gas and Banque Misr Collaborate to Streamline Gas Payment Services
Town Gas has signed agreements with Banque Misr and its subsidiary Souhoola, allowing customers to pay for gas delivery in installments.
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Egypt seeks to increase Chinese investments
Abbas made the remarks while receiving a high-level Chinese delegation grouping representatives of 40 Chinese companies.
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Maait elected executive director representing Arab countries, Maldives at IMF
Egypt’s former minister of finance Mohamed Maait has been elected as the executive director and member of the Executive Board.
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Egyptians Still Face Barriers to Insulin Access
New diagnostics more widely available – but shortages, power cuts, and inflation threaten access.
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Egypt’s Rabbit Mobility raises $1.3m to fuel expansion plans
Egyptian micromobility startup Rabbit Mobility has raised a US$1.3 million funding round to fuel its expansion across Egypt and other North Africa.
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No devaluation expected after Banque Misr raised USD CDs yield
Raising the yields on US dollar-denominated certificates and other deposits by Banque Misr does not indicate an expected devaluation of currency.
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Egypt’s GDP growth rate reached 2.4% in last FY
This is due to geopolitical tensions and challenges facing the Egyptian economy before the start of the economic reform program in March.
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Egypt approves $10 million citrus concentrate zone in Port Said to boost exports
The project, with a $10 million investment, is anticipated to create over 300 jobs and produce 2,500 tons annually in its initial phase.
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Restart of Drilling Ops at Egypt’s Zohr Gas Field Expected in December
Egypt plans to increase oil and gas exploration works in 2025, Badawi added.
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Zoho partners with Fawry Business to accelerate growth in Egypt
The increase in channel partners means it now appears to have 17 consulting partners in Egypt and two global GSIs operating in the region.
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LG is setting up a USD 150 mn refrigerator line
The new production line is in the preparation phase, LG Egypt Managing Director Billy Kim told Al Borsa, without disclosing its completion date.
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Egypt's Viridia Tech wins 2024 Mega Green Accelerator grand prize
Egypt-based agritech Viridia Tech has been named the overall winner of the 2024 Mega Green Accelerator, awarded the $100,000 grand prize.
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Egypt's United Bank to list on Cairo stock exchange on Oct. 24
United Bank made a net profit of 1.74 billion Egyptian pounds in the financial year to end June on assets of 106 billion Egyptian pounds.
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Egypt’s first-ever net zero mosque blends spirituality and ecology
The project, set to be located in rural Egypt, reimagines construction for rural communities in warm climates.
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Ancient clothing designs of kings & gods revealed at Esna Temple
The discoveries were made by a joint Egyptian-German archaeological mission, which has been restoring the temple since 2018.
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Egypt wants to localize the manufacture of 12 products
The products include electric motors, generators, valves, pumps, water filtration devices, electric tools, solar cells, electrical control panels..etc
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1st biopharmaceuticals factory in ME to start operation in Egypt in 2025
Ghorab said that the factory, which is a 100 percent local investment, will provide all kinds of biopharmaceuticals.
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Tourist program to Egypt including lunch with pyramid-climbing dog
This comes after an American tourist offered an amount equal to LE 100,000 to buy the dog, and another asked to pay LE 25,000 to take a selfie.
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Sun illuminates face of Ramses II in Aswan’s Abu Simbel Temple
Sun aligned on the statute of Ramses II in Aswan’s Abu Simbel Temple on a rare phenomenon that happens twice a year; on February 22 and October 22.