Multilateral banks laud Egypt’s Climate Finance Platform at COP29
Twelve multilateral development banks issued a joint statement at COP29 in Azerbaijan praising Egypt’s Nexus of Water, Food, and Energy (NWFE) program as a model for mobilising climate finance. The statement, titled “Country Platforms for Climate Action: MDB Statement of
ETA chief highlights new tax facilities, community engagement
Rasha Abdel Aal, Chairperson of the Egyptian Tax Authority (ETA), emphasized the Minister of Finance’s commitment to fostering community dialogue between the Authority and taxpayers. She noted that effective communication with civil society and the tax community bolsters transparency for
Egypt’s Petroleum Minister highlights energy sector progress, development plans
Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, provided an update on the country’s energy sector during a Tuesday address to members of the American Chamber of Commerce in Cairo. Badawi highlighted significant progress in narrowing the gap
Engineering exports surge 25.6% to $3.9bn in 9M 2024
Egypt’s engineering exports surged by 25.6% to $3.9bn in the first nine months of 2024, compared to $3.1bn during the same period in 2023. The monthly report from the Engineering Export Council of Egypt revealed a 15% increase in exports
Egypt-AU trade exchange rises 5.7% to $9.2bn in 2023
Trade exchange between Egypt and the African Union countries reached $9.2bn in 2023, up from $8.7bn in 2022. This marks an increase of $500m and a growth rate of 5.7%, according to the Central Agency for Public Mobilization and Statistics
Modon Holding, Hassan Allam explore collaboration in Ras El-Hekma projects
Modon Holding has announced a strategic partnership with Hassan Allam Holding, to explore collaboration across large-scale construction projects in Egypt. The memorandum of understanding aims to enhance cooperation in the construction sector, including infrastructure, energy, and water and wastewater treatment.
Abu Dhabi Tourism, Accor sign management deal for Sofitel Legend
Abu Dhabi Tourism Investment Company, owned by Abu Dhabi Development Fund, has signed an agreement with French hospitality group Accor for the management and operation of the Sofitel Legend Pyramids Hotel in Giza. Yahia Kotub, CEO of Abu Dhabi Tourism
Beltone Holding reports 405%, 1,218% surge in revenue, profit, respectively
Beltone Holding (BTFH.CA) announced its consolidated financial and operational results for the nine months ending 30 September 2024. Beltone’s growth strategy continued to yield impressive results with the Company’s consolidated operating revenue increasing 405% year-on-year to reach EGP 4.8bn. In
Hisham Talaat Moustafa proposes establishment of tourism development council
Hisham Talaat Moustafa, CEO of Talaat Mostafa Group (TMG), has proposed the formation of a national council for tourism development, whose decisions would be binding on all relevant authorities. He also suggested hiring an international consultant to develop a comprehensive
Egypt, IFC discuss collaboration to unlock mining, infrastructure potential
Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, met with International Finance Corporation (IFC) officials to explore opportunities for collaboration in the mining and infrastructure sectors. The Monday meeting, held in Cairo, aimed to leverage the IFC’s