CIB leads syndicated loan of EGP 9bn for Madinet Masr in partnership with 6 banks
The Commercial International Bank—Egypt (CIB), acting as the lead arranger and financier, has successfully arranged a syndicated loan worth EGP 9bn for Madinet Masr Housing and Development Company, a key player in Egypt’s real estate sector. This loan, which spans
Egyptian, Uzbek officials discuss increased cooperation at business forum
Egyptian and Uzbek officials met on Wednesday at the Egyptian-Uzbek Business Forum in Tashkent to discuss strengthening economic ties between the two nations. The forum, which coincided with the 7th session of the Joint Egyptian-Uzbek Committee for Economic, Scientific, and
TMT invests EGP 100m in new customs bonded area at Hossni El-Antably station
Transmisr Transportation and Trading (TMT) has announced the inauguration of its new customs station, the Hossni El-Antably Customs Bonded Area, with an initial investment of EGP 100m. The facility, located in Alexandria, spans 7,500 square meters in its first phase
Egypt needs 450k housing units annually to meet population growth: Minister
Egypt requires approximately 450,000 new housing units each year to accommodate the growing demand driven by population growth, according to Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny. During a recent meeting with representatives from the Coordination Committee of
Egypt’s remittances hit $23.7bn in 10M 2024, marking 45.3% growth
The Central Bank of Egypt (CBE) reported that remittances from Egyptians working abroad reached $23.7bn during the period from January to October 2024, representing a 45.3% increase compared to $16.3bn during the same period in 2023. This significant growth is
Banks in Egypt report EGP 426.911bn in net profits for 9M 2024
The Central Bank of Egypt (CBE) has announced that banks operating in the Egyptian market achieved net profits of EGP 426.911bn in the first nine months of 2024. According to the latest report from the CBE, the total net return
“500500” Hospital project to enhance cancer care, says Egyptian PM
Egypt’s Prime Minister Mostafa Madbouly convened a meeting on Tuesday to review the progress of the new National Cancer Institute in Sheikh Zayed, known as the “500500 Hospital.” The Prime Minister emphasised the hospital’s critical role in enhancing cancer treatment
Deputy FM participates in 51st Annual Conference of Association of Egyptian American Scholars
Nabil Habashi, Deputy Minister of Foreign Affairs, participated in the 51st Annual Conference of the Association of Egyptian American Scholars, held in the New Administrative Capital on Sunday. At the conference’s opening, Habashi delivered a speech on behalf of Minister
Egypt’s ARECO, Sweden’s Sunshine Pro sign contract for solar panel manufacturing project
A significant partnership aimed at boosting Egypt’s renewable energy sector was solidified on Tuesday with the signing of a contract for the establishment of a solar panel manufacturing plant. The agreement, signed at the Arab Organization for Industrialization (AOI) headquarters,
Major banks support financing for Robbiki Leather City factories
Cairo for Investment and Real Estate Developments (CIRA) has announced an exclusive opportunity to acquire 43 fully equipped factories for leather production in the third phase of Robbiki Leather City. This offering marks a significant milestone in advancing Egypt’s leather