The African Export-Import Bank (Afreximbank), Africa's foremost multilateral trade finance institution, has granted $3.55bn to Egypt's banking sector since the start of the novel coronavirus (COVID-19) pandemic in March.
Afreximbank elaborated that (...)
The European Investment Bank (EIB) approved €1.1bn supporting support, on Wednesday, that will transform public transport in cities across Egypt. The bank will also provide €800m for business investments in the country relating to the novel (...)
Orascom Development Egypt (ODE) announced that sales at its El Gouna developed increased 22.1% in the second quarter (Q2) of 2020 to EGP 891.5m. It added that its hotels have received the full safety, sanitation, and hygiene audit confirmation from (...)
Minister of Finance Mohamed Maait has announced that the presidential initiative to stimulate consumption and encourage local production will be launched before the end of July for a period of three months.
Maait said that the initiative aims to (...)
Egypt has a powerful and attractive investment climate, French ambassador to Egypt, Stéphane Romatet, said during a video conference held last week.
The conference was held with the participation of over 100 businesspeople from France and the Gulf (...)
The provision of tertiary healthcare facilities in the Middle East in case of emergencies will further boost traveller confidence, according to Colliers International.
The international real estate services company added that a rise in medical (...)
Current French investments in Egypt stand at €5bn, and trade exchange reaches €3bn, according to Hassan Behnam, Managing Director of the French Chamber of Commerce and Industry in Egypt.
Behnam added that there are a total of 165 French companies in (...)
Altameer Arabian has reported EGP 500m in sales at its Rivan compound in the New Administrative Capital (NAC) during the first half (H1) of 2020.
Ahmed Osama, Commercial Manager at Altameer Arabian, said that the company has completed marketing of (...)
Egypt's real estate market will recover in the second half (H2) of 2020 due to real local market demand, according to real estate developer, Inertia.
The recovery will also be boosted by postponed purchase decisions in the second quarter (Q2) of (...)
The US Food and Drug Administration (FDA) authorised, on Sunday, the marketing of the IQOS, Philip Morris International's (PMI) electrically heated tobacco device, as a modified risk tobacco product (MRTP).
In doing so, the agency noted that an IQOS (...)
Aqarmap, the online marketplace for real estate, will hold its fourth Online Expo on 24 July. The digital exhibition comes off the back of the company's previous online exhibitions, in which major real estate development companies have (...)
Egypt will launch a holding fund worth EGP 2bn to guarantee and stimulate domestic consumption, according to Minister of Finance Mohamed Maait.
Maait's comments came on the sidelines of the inauguration ceremony on Sunday, which saw President Abdel (...)
Egypt has, under its leader President Abdel Fattah Al-Sisi, effectively reduced the effects of the novel coronavirus (COVID-19), according to Chinese Ambassador to Egypt Liao Liqiang.
The ambassador said that the Egyptian state has made significant (...)
Minister of Trade and Industry Nevine Gamea and Minister of Electricity and Renewable Energy Mohamed Shaker met, on Tuesday, to discuss activating Law 5 of 2015 giving preference in government procurement for locally manufactured products.
The (...)
Egypt and the Islamic Development Bank (IsDB) have cooperated on a total of 338 projects worth $12.8bn, according to Minister of Trade and Industry Nevine Gamea.
The projects cover several sectors including energy, industry, mining, agriculture, (...)
The level of confidence in the Egyptian economy is increasing, thanks to the clear vision of decision makers, according to Atiq Rehman, Head of EMEA Emerging Markets at Citigroup.
The country has been proactive in the measures it has taken to (...)
The Middle East might come out of the recession caused by the novel coronavirus (COVID-19) pandemic later than some other parts of the world. However, many regional economies will continue diversification efforts, according to David Livingstone, CEO (...)
The Europe, Middle East, and Africa (EMEA) region has taken a strong leadership position in technology and energy transition, according to Phil Drury, Head of BCMA in the EMEA region at Citigroup.
"We came into this crisis in a strong position as we (...)
Alexandria Company for Pharmaceuticals and Chemical Industries (Alex Co Pharma), a subsidiary of HoldiPharma, has established several new production lines for disinfectant products.
The new production lines have been established to meet the growing (...)
The International Finance Corporation (IFC), a member of the World Bank Group, has provided a loan of up to $100m to the Commercial International Bank – Egypt (CIB). The funds are to help the bank increase support to clients and companies whose cash (...)
Egypt's Administrative Capital for Urban Development (ACUD) has signed a memorandum of understanding (MoU) with the Alliance Worldwide Consortium (AWWC) to develop the Diamond City project.
The project, which will take place under a partnership (...)
It's not news that smoking is bad for human health and the leading risk factor for many heart problems and cancers. It also reduces immunity, and makes people more likely to respiratory infections.
But researchers have found recently that smokers (...)
Egypt's annual chemical industries' exports reached $5.6bn, accounting for 25% of the country's total exports, according to Khaled Abu Al-Makarem, Chairperson of the Chemical and Fertilizers Export Council.
He added that the sector's annual (...)
The Al Mahsamma agricultural drainage treatment, recycling and reuse plant has won the ‘Best Recycling and Reuse Water Project Global 2020' award by Capital Finance International (CFI).
The plant was launched by Metito, a Hassan Allam joint venture (...)
Egypt's property companies need to create a shift in the products they offer, whether commercial, residential, or administrative, in the post-coronavirus (COVID-19), real estate developers have emphasised.
The shift in products on offer would (...)
