News

Mahmoud Esmat, the Minister of Public Enterprises Sector, met with Christopher Hui, the Secretary for Financial Services and the Treasury of the Hong Kong Government, and his accompanying delegation, at the Ministry’s General Office in New Administrative Capital, east Cairo. They discussed the cooperation and investment opportunities in the ministry’s…

Italy cancelled debts amounting to US$100 million owed by Egypt as part of the debt swap program between the two countries that began twenty years ago, the Egyptian ambassador to Italy Bassam Rady announcheed. The debt swap program has several stages, he said, with this third phase as handled by…

Beltone Financial Holding (“Beltone”), 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 post…

UN Climate Change High-Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda, Mahmoud Mohieldin, has urged banks to play a bigger role in transitioning to green economies by investing in climate projects. He made this statement at the “Net Zero Banking Alliance (NZBA) Members’ Event:…

The Financial Regulatory Authority (FRA) has announced that it will launch a voluntary market for trading carbon certificates, which are documents that represent the reduction or removal of greenhouse gas emissions. The carbon certificates are classified into two main types: removal certificates, which are based on technological methods, and capture…

Dreny and Partners law firm, led by partner Iman Raouf, said that it acted as a legal advisor for 14 securitised bonds issuances with a total value of about EGP 26bn. She told Daily News Egypt that the issuances cover several key sectors, such as microfinance, consumer finance, real estate…

The Ministry of Trade and Industry announced it had postponed the implementation of a decision to stop the export of onions for a period of three months until the beginning of October. The announcement caused confusion in the markets, as the price of a ton of onions decreased by about…

Today, blinx, a new digital media hub in the Middle East, launched with a vision to empower the region’s youth with the finest in digital storytelling and news stories. The hub offers fresh perspectives and connects Gen Z and Millennials across multiple screens, platforms, and smart devices, delivering authentic and…

ADNOC Distribution, the UAE’s largest fuel and convenience retailer, announced on Saturday the inauguration of three ADNOC service stations in Egypt, strategically located in key areas across Greater Cairo to offer a full range of vehicle services to the local communities. The Company plans to open a further six ADNOC…

The Central Bank of Egypt (CBE) announced that the total financial position of banks operating in the local market increased to about EGP 13.798trn in the first half (1H) of 2023, according to its quarterly report on banks’ financial health. The report showed that on the assets side, banks had…