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EBRD Allocates $2 Billion to Finance Green Projects in Egypt During 2023
Egypt >> 10/23/2023 - The European Bank for Reconstruction and Development (EBRD) has mobilized $2 billion to finance development projects in Egypt during 2023, said Heike Harmgart, Regional Director for the Southern and E...
Central Bank of Egypt Eases Export Rules for Gold Artefacts
Egypt >> 10/23/2023 - The Central Bank of Egypt (CBE) revised the deadline for transferring the export proceeds of gold artefacts to banks from 7 days to 30 days, according to a circular.

Accordingly, banks in E...
Egypt Launches Mega Project for Building 17 Green Food Hubs
Egypt >> 10/23/2023 - The Ministry of Supply and Internal Trade launched on Monday a mega project to establish 17 green food hubs across Egypt in collaboration with the Ministry of International Cooperation, the Internal T...
Egypt Cabinet Approves Issuing Third Batch of $500 Mln Samurai Bonds
Egypt >> 10/24/2023 - Egypt’s Cabinet approved issuing a third batch of $500 million Yen-denominated bonds, aka Samurai bonds, with a five-year tenor, according to a statement released.

The move is part of the g...
Egypt, World Bank Group Hold Intensive Talks on Climate Investment Fund Executive Plan
Egypt >> 10/24/2023 - Egypt's Ministry of International Cooperation and the World Bank Group held extensive discussions with the Climate Investment Fund (CIF) mission on the executive plan for the Nature, People and Climat...
Egypt Providing Zambia With $24 Mln in Pharma Supplies
Egypt >> 10/24/2023 - The Egyptian Authority for Unified Purchasing (UPA) is supplying Zambia with a total value of $24 million of pharmaceutical supplies, according to a statement by the Cabinet .

The move is p...
Aed19 Billion Real Estate Transactions in Sharjah During Past Nine Months of 2023
United Arab Emirates >> 10/24/2023 - According to the report on the performance of the real estate sector in Sharjah, which was recently issued by Sharjah Real Estate Registration Department, the value of transactions in the real estate ...
UNITED ARAB BANK Reports Net Profit of AED209 Million for First Nine Months of 2023
United Arab Emirates >> 10/24/2023 - United Arab Bank P.J.S.C ("UAB" or "the Bank") announces its Financial Results for the nine months ended 30th September 2023.

UAB posted a Net Profit of AED 209 million for the first nine m...
Suez Canal Authority, Qatari Baladna Sign $1.5 Bln Deal to Ensure Food Security for Egyptians
Egypt >> 10/25/2023 - Egypt's Suez Canal Authority (SCA) has signed a memorandum of cooperation (MOC) with Qatari dairy producer Baladna valued at $1.5 billion to initiate projects that guarantee food security for the Egyp...
CBE Eases Restrictions on Credit Cards Usage Outside Egypt
Egypt >> 10/25/2023 - The Central Bank of Egypt (CBE) has eased the restrictions on credit card usage abroad, allowing clients to use their cards without limits on hard currency withdrawals while being abroad.

C...
Israeli War on Gaza Drives Down Egyptian Pound on Parallel Market: Fitch Solutions
Egypt >> 10/25/2023 - The Israeli war on Gaza has driven the Egyptian pound down to a record low on the parallel market, where it is now trading for EGP 46 against the US dollar, said Ramona Moubarak, head of MENA Country ...
War on Gaza Will Harm Economies in Egypt, Jordan, Lebanon: IMF’s Georgieva
Egypt >> 10/25/2023 - The war in Gaza will negatively impact the economies of neighbouring countries; including Egypt, Jordan and Lebanon, according to the Managing Director of the International Monetary Fund (IMF) Kristal...
UAEFTS Processed AED10.997 Trillion in Transactions in 8 Months
United Arab Emirates >> 10/25/2023 - The total value of fund transfers between the UAE's banks amounted to AED10.997 trillion in the first eight months of the year, up 35.6 % from the same period last year, according to statistics releas...
Fujairah Research Centre, Environment Authority Foster Alliances With Academic, Beekeeping Entities
United Arab Emirates >> 10/25/2023 -  In a landmark moment during the Fujairah International Conference on Bee Research which concluded recently, Fujairah Research Centre (FRC) and Fujairah Environment Authority (FEA) announced the signi...
ACX Announces Key Trades on World’s First Regulated Carbon Exchange And Clearing House in ADGM
United Arab Emirates >> 10/25/2023 - ACX (AirCarbon Exchange) announced its exchange and clearing house in Abu Dhabi Global Market (ADGM), ACX Abu Dhabi, is live. Key trades have already been executed and settled on the platform, signify...
Ghitha Holding Reports AED 124 Million in Q3 2023 Profits
United Arab Emirates >> 10/26/2023 - Ghitha Holding (Ghitha), a subsidiary of International Holding Company (IHC), has announced its third quarter year-to-date (YTD) results for 2023, reporting a profit before tax of AED 124 million.
...
S&P Global Downgrades Credit Rating for Three Major Egyptian Banks
Egypt >> 10/26/2023 - S&P Global has revised down the long-term credit ratings for three Egyptian banks; including two major state-owned banks, to B- from B.

The banks are the National Bank of Egypt (NBE), Banqu...
Egypt Increases Minimum Wage for Private Sector Workers to EGP 3,500
Egypt >> 10/28/2023 - The National Wages Council (NWC) has approved raising the minimum wage for private sector employees from EGP 3,000 to EGP 3,500, effective 1 January 2024, according to a Cabinet statement on Friday.
Egyptian And German Trade Ministers Discuss Building Industrial Zone in SZCONE
Egypt >> 10/28/2023 - The Egyptian Minister of Trade and Industry Ahmed Samir has discussed with its German counterparts building an industrial zone in the Suez Canal Economic Zone (SZCONE), according to a statement.
Minister: Companies Face Real Test to Fulfill Local Market Requirements
Egypt >> 10/28/2023 - Minister of Public Business Sector Mahmoud Esmat said the ministry's affiliated companies face a real test of their ability to fulfill the local market requirements, meet the needs of citizens, increa...

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