Mansour Group, SAIC Motor announce $135m auto plant in Egypt
Prime Minister Mostafa Madbouly attended on Sunday the signing ceremony of a landmark agreement between Mansour Group and China’s SAIC Motor to establish a $135m automotive manufacturing plant in Egypt. The agreement includes a technical licensing deal to produce MG
CBE to offer $800m T-bill auction to settle previous issuance
The Central Bank of Egypt (CBE) will hold a Treasury bill (T-Bill) auction denominated in US dollars on Monday, offering $800m in new debt. The proceeds from this auction will be used to settle the maturity of a prior T-Bill
Stig drifts 2,000 hp electric Ford Supervan around Top Gear test track [video]
The Top Gear TV show might be over, but its tamed racing driver – a masked, anonymous hot shoe known only as “the Stig” – lives on … and his latest adventure involves pitching the 1,400 hp electric Ford
Egyptian Intelligence Chief Meets Libyan Armed Forces Commander in Benghazi
Hassan Rashad, head of the Egyptian General Intelligence Service (GIS), met with Field Marshal Khalifa Haftar, General Commander of the Libyan Armed Forces, at the General Command headquarters in Benghazi on Sunday. Rashad was accompanied by a high-level security delegation.
Al Ahly Capital boosts stake in Easy Lease to 97.55% in strategic acquisition
Al Ahly Capital Holding, the investment arm of the National Bank of Egypt (NBE), has acquired an additional 93.1 million shares—representing 46.55% of Easy Lease’s capital—from El Sewedy Capital Holding. This acquisition significantly strengthens Al Ahly Capital’s ownership in Easy
Low income and frontline workers to access cut price loans in new bid to boost EV sales
Low income households and frontline workers - such as police, health professionals and teachers - will get access to $150 million of low cost loans to help
Housing Ministry activates New October Transformer Station to support urban growth
Minister of Housing, Utilities, and New Urban Communities, Sherif El-Sherbiny, has announced the activation of the New October Transformer Station, located in New October City. With a capacity of 220/22/22 KV and a total current capacity of 375 MVA, the
Tax filing for 2024 to begin next Wednesday: ETA Chief
Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), announced that the 2024 tax filing will begin next Wednesday, January 1, 2025. Individuals can file their tax returns until March 31, 2025, while companies have until April 30, 2025,
Paua partners with Roam Charging to expand access to EV connectors in the UK
UK EV charging platform Paua, designed for businesses, has announced its collaboration with UK-based EV charging network Roam Charging (formerly known as EVC) to provide Paua users with
Egyptian gold demand declines in Q4 2024 amid price hikes
Local demand for gold in Egypt decreased in the fourth quarter of 2024, despite stabilising prices, due to rising inflation and higher price levels, according to the Gold Bullion 2024 report. Throughout 2024, gold prices in Egypt experienced significant fluctuations,