Magna AI, TechnoVal form $300m alliance to drive AI-powered industrial transformation in MENA
Magna AI and TechnoVal have announced a strategic alliance worth $300m aimed at accelerating AI-driven industrial and digital transformation across the Middle East and Africa. The announcement was made during GITEX Global 2025, one of the world’s largest technology exhibitions.
Egypt Kuwait Holding sells 63.4% stake in Delta Insurance to Morocco’s Wafa Assurance for EGP 3.17bn
Egypt Kuwait Holding (EKH) announced the completion of the sale of its entire 63.39% stake in Delta Insurance to Morocco’s Wafa Assurance, under the latter’s mandatory tender offer. In a statement to the Egyptian Exchange (EGX) on Sunday, EKH said
BP adds 80 mcf/d from new Raven well in Mediterranean
BP has announced the successful start-up of the RW5 well, adding 80 million cubic feet per day (mcf/d) of new gas production within the West Nile Delta (WND) project. The new output complements increased production from the RW4 well, bringing
Gold prices fall 3.6% in one week amid market correction
Gold prices in Egypt fell by 3.6% over the past week, marking a decline of EGP 200 per gram, as the market undergoes what experts describe as a “natural correction” following record highs in October. Ehab Wassef, Chairperson of the
CI Capital Asset Management launches Sharia-compliant Gold Misr Fund with investor prizes
CI Capital Asset Management (CIAM) — Egypt’s largest asset manager and one of Forbes’ Top 40 asset managers in the Middle East and North Africa (MENA) — has announced the launch of the “Gold Misr” Fund, a Sharia-compliant gold investment
Ministers of electricity, water resources discuss maximising hydropower returns at High Dam
Minister of Electricity and Renewable Energy Mahmoud Esmat held a meeting with Minister of Water Resources and Irrigation Hani Sewilam at the ministry’s headquarters in the New Administrative Capital to review joint cooperation and strategies to enhance the performance of
Egypt, Switzerland sign new 60m Swiss franc cooperation deal
Egypt and Switzerland have launched a new joint cooperation programme for the period 2025-2028, valued at CHF 60m ($67m), which will focus on migration, green economic development, and improved governance. The programme was launched at an event at the Ministry
Saudi Egyptian Developers signs EGP 12bn contract with CCC for ‘Central’ project in New Cairo
Saudi Egyptian Developers has signed a contract with Consolidated Contractors Company (CCC) to execute its latest mixed-use development, Central, in New Cairo, with total investments exceeding EGP 12bn. Under the agreement, CCC will oversee the full scope of construction and
Grand Egyptian Museum shines with solar power
As Egypt celebrates the long-awaited opening of the Grand Egyptian Museum (GEM), the largest archaeological museum of a single civilization in the world, the landmark is also ushering in a new era of sustainability. With support from the United Nations
Gold, silver commemorative coins to be issued at Grand Egyptian Museum: Finance minister
Minister of Finance Ahmed Kouchouk announced that gold and silver commemorative coins will be available for purchase at the Grand Egyptian Museum (GEM) starting next week. He noted that the ministry is fully prepared to issue a number of exclusive