CBE explains decline in inflation during December 2024
Annual urban headline inflation decreased to 24.1% in December 2024, down from 25.5% in November 2024, marking the lowest rate in two years. This decline is primarily driven by a reduction in food inflation, which steadily decreased over the course
Egypt’s Al-Mashat, EU official discuss €4bn macro-financial assistance programme
Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, met virtually with Elena Flores, Deputy Director-General of the European Commission and Head of International Economic and Financial Relations, to discuss the next phase of the Egypt-EU Strategic Partnership’s
Egypt to approve simplified tax system for SMEs, entrepreneurs, and professionals soon: Finance Minister
Ahmed Kouchouk, Egypt’s Finance Minister, has announced that a simplified tax system designed to support small and medium-sized enterprises (SMEs), entrepreneurs, and professionals will soon be approved. This initiative is part of the government’s broader effort to drive investment and
Striving to digitize real estate appraisal nationwide: FRA Chairperson
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), highlighted the Authority’s ongoing efforts to digitize real estate appraisal by developing electronic applications to assist appraisers in various regions. These applications will include all the necessary details for issuing appraisal
Egyptian Minister, Japanese Ambassador review cooperation plans in Cairo
Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, met with Japan’s Ambassador to Cairo, IWAI Fumio, to discuss the implementation plan for outcomes from her December 2024 visit to Japan. The meeting, held at the ministry’s headquarters
CIB completes EGP 1.56bn securitization deal for B.TECH, serving as financial advisor, arranger, and manager
The Commercial International Bank (CIB) Egypt has successfully concluded the fourth securitization deal for B.TECH, valued at EGP 1.5605bn. CIB acted as the financial advisor, arranger, manager, and promoter for the transaction, which is part of a two-year securitization Programme
CBE reveals developments in Egypt’s external debt as of June 2024
Egypt’s external debt reached $152.9bn in June 2024, marking a decrease of approximately $11.8bn (7.2%) compared to June 2023. This decline resulted from several factors, including the conversion of around $11bn in UAE deposits at the CBE into investments for
FHH appoints Hesham Abouzeina as General Manager for Egypt
Fine Hygienic Holding (FHH), one of the world’s leading wellness groups and manufacturers of hygienic paper products, has announced the appointment of Hesham Abouzeina as its new General Manager for Egypt. With over 30 years of experience in the FMCG,
Suez Canal signs MoU with Omani Integrated Logistic Services
Osama Rabie, Chairperson of Suez Canal Authority, witnessed on Wednesday, the signing of a Memorandum of Understanding (MoU) with Omani Integrated Logistic Services SAOC. The signing ceremony, held at the Authority’s headquarters in Ismailia. The MoU outlines discussions on
FEDCOC urges reassessment of customs law penalties to boost investment climate
Mohamed Al-Argawy, Chairperson of the Customs Committee of the Importers Division at the Federation of Chambers of Commerce (FEDCOC), has called for a review of specific provisions in the customs law pertaining to penalties for violations and the responsibilities of