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
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
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,
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,
Jordanian Minister of Agriculture Visits Egyptian Arabian Horse Farm
Jordanian Minister of Agriculture Khaled Hneifat visited an Egyptian farm of original Arabian horses during a trip to Egypt. The visit was part of his participation in meetings of the Egypt-Jordan Agricultural Technical Committee. During the visit, Hneifat met with
AUIEC to launch Arab Industries Exhibition 2025 in Iraq
The Arab Union for International Exhibitions and Conferences (AUIEC) announced during its recent meeting in Cairo the launch of a major exhibition for Arab industries, set to take place in Iraq in 2025. This initiative underscores the Union’s dedication to
STIO Life Science invests EGP 400m to localize Egypt’s pharmaceutical industry
Amr Abdel Razek, Chairperson of STIO Life Science (SLS), announced that the company has invested EGP 400m in the Egyptian market during 2023/2024. These funds have been directed toward development initiatives and securing the necessary business licenses. Abdel Razek highlighted
Egyptian investments in Africa surpass $14bn: FM
Badr Abdelatty, Egypt’s Minister of Foreign Affairs, participated in the Egypt-Gabon Business Forum held in Libreville, the capital of Gabon. The event brought together Gabonese President Ali Bongo Ondimba, seven key Gabonese government ministers—including those responsible for Foreign Affairs, Public