House approves tax incentives, facilitation laws, boosting business confidence: Abdel Aal
Rasha Abdel Aal, head of the Egyptian Tax Authority, has affirmed that the Minister of Finance is committed to implementing a new package of tax incentives and flexible procedures aimed at reducing burdens on taxpayers and fostering trust between businesses
Investment Minister meets Kuwait’s AREF Investment Group to explore expansion in Egypt
During his visit to Kuwait, Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met with a delegation from AREF Investment Group to discuss the company’s current projects in Egypt and explore new investment opportunities. The meeting highlighted AREF’s existing
Kuwait Finance House expands into Egypt with Ahli United Bank acquisition
Kuwait Finance House (KFH) has officially launched its operations in Egypt following the successful acquisition of Ahli United Bank Bahrain in 2022. The transformation into a fully Sharia-compliant financial institution was completed in December 2023, followed by a merger with
Finance Ministry to issue 29 T-bills, bonds worth EGP 641bn in February
The Ministry of Finance announced plans to issue 29 treasury bills (T-bills) and bonds worth EGP 641bn in February to refinance maturing debt and cover the state’s budget deficit. The offerings include 16 treasury bills totaling EGP 580bn and 13
Egypt boosts domestic short-staple cotton production in East Owainat
Egypt has cultivated 2,000 acres of short-staple cotton in East Owainat as part of a project to boost domestic production and reduce reliance on imports for the textile industry. Public Enterprise Sector Minister Mohamed Shimi received a progress report on
Gold reaches new historic high, marking fifth consecutive week of gains
Gold prices have soared to a new historic high, marking a significant milestone as the precious metal increased for the fifth consecutive week. The surge comes amidst rising global tensions and uncertainty in the financial markets, driven in part by
Banque Misr launches instant money transfer service for Egyptian expats
Banque Misr has introduced a new instant money transfer service that allows Egyptians working abroad to send funds in Egyptian pounds to any bank account, card, or electronic wallet within Egypt. This service is part of the bank’s ongoing commitment
Housing Minister orders acceleration of Al Gabal Al Asfar Plant expansion
Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny inspected the Al Gabal Al Asfar Wastewater Treatment Plant, which currently has a capacity of 2.5 million cubic meters per day. He reviewed ongoing expansion efforts that will add an additional
Egypt’s consumer finance market hits EGP 47.45bn in 10M 2024, growing 25.1%
Said Zater, Chairperson of the Egyptian Federation of Consumer Finance, announced that Egypt’s consumer finance sector experienced significant growth, reaching EGP 47.45bn in the first ten months of 2024—a 25.1% increase compared to the same period in 2023. The number
Egypt, Jordan discuss PERSGA work plan, upcoming ministerial council
Egypt’s Minister of Environment, Yasmine Fouad, and her Jordanian counterpart, Muawia Radaideh, held a virtual meeting to discuss the latest developments within the Regional Organization for the Conservation of the Environment of the Red Sea and Gulf of Aden (PERSGA).