News

The price of the US dollar continued to stabilize against the Egyptian pound, on Monday at the Central Bank of Egypt (CBE) and government and private banks, after the CBE’s recent decision to fix the interest rate.   Monday’s prices: Central Bank of Egypt LE30.84 for purchase LE30.93 for sale…

Tatweer Misr, Naif Alrajhi Investment are finalising necessary procedures to launch their joint entity, introduce their first project in the Saudi market, specifically in Riyadh Tatweer Misr, a leading real estate developer in Egypt, has achieved its highest-ever revenue of EGP 12bn in the first half of 2023 while expanding…

The Egyptian real estate market is one of the most resilient and expanding markets in the region, with the success of real estate exports boosting the country’s foreign currency reserves, according to a panel discussion at the Cityscape exhibition. The panel, titled “Challenges and Opportunities in the Egyptian Real Estate…

SODIC, a leading real estate developer in Egypt, announced that its sales in 2023 increased by 22% compared to the previous year. The company also expects to achieve significant growth in its profits by the end of the year, as it accelerates its construction work, said Ayman Amer, the general…

Shanghai – Huawei Egypt’s Vice President of the Technology Sector and Chief Cybersecurity Officer, Mohamed Madkour, said that the company is working with the Egyptian government as a strategic partner to achieve the development and digital transformation goals by bringing modern technology to the Egyptian market in various sectors, such…

HSBC announced that it plans to make available $1bn of financing to early-stage climate tech companies around the world. The financing is expected to support start-ups to create a range of new solutions, including EV charging, battery storage, sustainable food and agriculture, and carbon removal technologies. This announcement also follows…

EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today the successful conclusion of EFG Holding’s wholly-owned subsidiary, EFG Corp-Solutions’ third issuance of a securitization bond worth EGP 1bn. This milestone marks a significant expansion of EFG Corp-Solutions’ securitization program, which has now increased its…

Beltone Financial Holding, one of the fastest growing institutions, announces the strategic rebranding of its consumer finance subsidiary, from BelCash, to “seven”. This move reinforces Beltone’s position as a leading consumer finance powerhouse, offering innovative fintech payment solutions that bridge the gap between financial capability and aspiration. The rebranded company…

The foreign ministers and negotiating teams of Egypt, Sudan, and Ethiopia met on Saturday in Addis Ababa, the capital of Ethiopia, to continue the talks on the Grand Ethiopian Renaissance Dam (GERD). The meeting was part of the agreed four-month timeframe to finalize the agreement on the rules of filling…

Mohamed Maait, the Minister of Finance and the governor of Egypt at the Asian Infrastructure Investment Bank (AIIB), said that Egypt is “opening up to the world for partnerships that are more stimulating for sustainable development.” He said that Egypt is working with the AIIB, a global multilateral bank, for…