Egypt, Kazakhstan discuss expanding flights, air cargo cooperation
Egypt’s Minister of Civil Aviation, Samah Hefni, met with Kazakhstan’s Ambassador to Cairo, Askar Zhenis, to discuss strengthening bilateral cooperation in aviation. The meeting focused on increasing direct flights between the two countries to boost tourism and exploring the launch
ETA launches introductory guide to Tax Facilitation initiative
Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), has announced the release of an introductory guide for the Tax Facilitation Initiative. This guide provides a comprehensive explanation of the initiative’s provisions, eligibility criteria, and step-by-step procedures, ensuring that
CBE hosts Bank of Tanzania delegation to strengthen African financial cooperation
As part of Egypt’s commitment to deepening ties with African nations, the Central Bank of Egypt (CBE) has welcomed a high-level delegation from the Bank of Tanzania (BOT), led by its Deputy Governor. The visit aligns with the joint cooperation
Elsewedy Electric expands into Europe with landmark power project in Hungary
Elsewedy Electric Group has secured a major engineering, procurement, and construction (EPC) contract for Hungary’s largest combined cycle power plant (CCPP) in decades. Awarded by MVM Matra Energia Zrt., a subsidiary of the Hungarian Electric Company (MVM), this milestone project
Egypt’s financial inclusion rate hits 74.8%, with 52 million using transaction accounts
Financial inclusion rates in Egypt continue to rise, with approximately 52 million citizens now using transaction accounts. The Central Bank of Egypt (CBE) announced on Tuesday that financial inclusion rates had reached 74.8% by the end of 2024, marking a
ETA, Commercial Professions Syndicate sign protocol to regulate relations
Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), and Mahmoud El-Naghi, Head of the Accounting and Auditing Division at the Syndicate of Commercial Professions, have signed a cooperation protocol to regulate accountants’ interactions with the authority. The signing
PFI Asset Management appointed for Mawared Fund
PFI Asset Management has been officially appointed as the fund manager for the Mawared Fund, effective February 18, 2025. Established in November 2009 by Housing and Development Bank, Mawared is a prominent money market fund designed to offer stable returns
Egypt allocates EGP 6bn in compensation for Ras El-Hekma residents
Prime Minister Mostafa Madbouly chaired a meeting on Tuesday to assess the latest developments in the Ras El-Hekma development project in Matrouh’s North Coast. Attendees included Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir,
Egypt’s Petroleum Minister announces Zohr field development resumption
Karim Badr, Egypt’s Minister of Petroleum and Mineral Resources, has announced the resumption of development activities at the Zohr gas field following the arrival of the Saipem 10000 drillship in Egyptian waters at the end of January. After completing essential
CIB successfully closes EGP 7bn Sukuk issuance for “Tasaheel”
The Commercial International Bank (CIB) has successfully completed an EGP 7bn non-sovereign Sukuk issuance for “Tasaheel” for Finance, through Alkan Securities. It is the first non-sovereign issuance of its kind. The issuance is the largest of its kind in Africa