65.5% increase in Egyptian remittances during August: CBE
Remittances from Egyptians working abroad surged by 65.5% in August 2024, reaching around $2.6bn, up from approximately $1.6bn in August 2023. According to the Central Bank of Egypt (CBE), remittances saw a significant increase of 76.2% over July and August
Egypt, UAE’s Tadweer Group sign MoU for waste management, recycling
Egypt’s Minister of Environment, Yasmine Fouad, witnessed the signing of a Memorandum of Understanding between the Waste Management Regulatory Authority and the UAE’s Tadweer Group to explore and develop cooperation and investment opportunities in the waste management and recycling sector
Madbouly reviews progress of “Housing for All Egyptians” initiative
Egypt’s Prime Minister Mostafa Madbouly on Sunday reviewed the implementation status of the “Housing for All Egyptians” presidential initiative during a meeting with several government officials. The meeting was attended by Ahmed Kouchouk, Minister of Finance; Adnan El-Fangary, Minister of
MSMEDA injects EGP 25.6bn into Upper Egypt projects over 10 years
Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has provided EGP 25.6bn in funding to projects in Upper Egypt over the past 10 years, including EGP 1.7bn to Aswan governorate, the agency’s CEO, Basel Rahmy, said on Sunday. Rahmy
Food Industries Chamber discusses challenges in meat, poultry processing sector
Egypt’s Chamber of Food Industries held a regular meeting for the meat and poultry processing division to discuss the challenges facing the sector and to study the issuance of standard specifications for new products. The meeting discussed a proposal
Egypt’s annual urban inflation edges up slightly to 26.5% in October
The Central Agency for Public Mobilization and Statistics (CAPMAS) has reported a slight increase in Egypt’s annual urban inflation to 26.5% in October 2024, up from 26.4% in September. Across the country, annual inflation climbed to 26.3% in October from
FRA continues formulating necessary policies to enhance efficiency, competitiveness of insurance sector: Farid
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), delivered the keynote speech at the sixth annual Insurance and Reinsurance Forum in Sharm El-Sheikh, organized by the Insurance Federation of Egypt, under the title “A Future Vision for Developing the
WUF12 addresses SDG localisation, development finance
At the 12th World Urban Forum (WUF12), held in Cairo, two pivotal discussions underscored the critical importance of Sustainable Development Goals (SDGs) localisation and financing for development. These discussions revealed a collective commitment to addressing the global challenges of urbanization
EBRD considers $200m debt finance for 1.1 GW Suez Wind Energy
The European Bank for Reconstruction and Development (EBRD) is considering senior debt financing of up to $200m in debt financing to support Suez Wind Energy, an Egyptian special purpose vehicle (SPV) established to build and operate a 1.1 GW wind
MSMEDA, World Bank partner to upgrade Egyptian entrepreneurship eco-system: Rahmy
Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), emphasized enhancing Egyptian startups with both financial and technical support, by working on developing innovative ideas to reach the commercialized stage. “Such set of supportive programs targeting