News
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Giza Systems’ value increases to $128mln on working capital, cash balances reviewal
It is noteworthy that B investments announced on October 4th it finalized the sale of its entire stake in Giza Systems to Solutions by STC.
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Sisi arrives in UAE for Abu Dhabi Summit
Sisi’s involvement in the Abu Dhabi summit comes out of Egypt’s desire to strengthen all relations with the countries participating in the summit.
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El Sisi holds natural gas talks with Eni’s CEO
From his side, El Sisi urged for the expansion of research, exploration and production activities and efforts.
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Egypt’s GBarena acquires Tunisia’s Galactech in a $15 million share swap deal
The transaction expands GBArena’s footprint into the burgeoning North African market.
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Egypt pays $2.5B in foreign debt payments within 2 months
The Central Bank of Egypt (CBE) elaborated in a statement, that it paid about $1.5 billion in November, and $1 billion in December 2022.
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PM inaugurates "Ahlan Ramadan" exhibition
The Prime Minister confirmed that an early opening date of the exhibition, starting January, with the aim of providing goods to citizens at low prices
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Majid Al Futtaim Holding appoints a new CEO
Ahmed Galal Ismail featured in Construction Week Middle East 2022 Power 100 list representing Majid Al Futtaim under Top 20 Developers sub-category
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Over $1 billion worth of medicines released from Egyptian ports
Following the recent releases, the country's strategic drug reserve rose to 6-12 months.
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Marsa Alam Airport receives 61 European flights
The flights come from10 European countries, including Germany, Italy, Poland, Czech, the Netherlands, Belgium, Luxembourg among others.
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Foreign investors pour $925 mln into Egypt since Wednesday
The market also received additional foreign currency from domestic sources, remittances from Egyptians working abroad, and tourists.
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Centamin says Egypt court rules challenge to Sukari deal invalid
The case relates to a challenge started in 2011 which wanted halt to deals struck in Egypt in relation to privatisations.
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Egypt offers 200K feddans irrigated by Lake Toshki-Paris water to investors
The lake spans over 450 square kilometers, and contains 27 billion cubic meters of water.
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Egypt’s NBE, Banque Misr to stop issuing 25% CDs before end of January
The issuance of these CDs aimed to contain the rising inflation, which is the highest in four years, by encouraging savings.
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Egypt's trade deficit up 21.1% YoY in October
Exports stood at $3.77 billion last October, down by 9.4% from $4.16 billion in October 2021.
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Egypt to sell discounted bread to fight inflation
Egypt's private sector importers and mills have struggled in past months to pay for hundreds of thousands of tonnes of wheat stuck at ports.
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Survival of richest:1% of the planet's population own two-thirds of the world's wealth
This volume of wealth equals twice the money earned by the 7 billion people who make up 99% of the world's population.
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Egypt signed of 17 collective bargaining agreements in 2022
A total of 25,685 workers have benefited from these agreements in various sectors like tourism and hotels, food and chemical industries.
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Egypt to receive $271 mln loan from African Development Bank
MP Ahmed al-Banna said that Egypt’s food security has faced successive crises, starting with the coronavirus pandemic.
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TOD and TPAY partnership targets Egypt’s mobile content subscribers
The partnership will cover up to 105 million consumers in Egypt to begin with. It will then expand to more countries across the MENA region.
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Egypt’s Sovereign Fund, Etisalat Egypt launch company to provide finance to micro, small companies
Recipients of microfinance loans increased by 46 percent in the past year, with loans reaching EGP 35.5 billion.