Egypt reduces fuel consumption, saves EGP 1.2bn monthly through renewables: Essmat
Egypt's fuel consumption has been reduced from 182 grams per kilowatt-hour (g/kWh) to 171 g/kWh, resulting in monthly savings of EGP 1.2bn, according to the Minister of Electricity and Renewable…
CI Capital exits Taaleem Management Services, delivering impressive returns
CI Capital Holding for Financial Investments has announced the successful exit from its investment in Taaleem Management Services after a five-year holding period, delivering exceptional returns. The exit generated four…
CBE completes business continuity drill to test emergency response, remote operations
The Central Bank of Egypt (CBE) recently completed its annual Business Continuity Plan (BCP) and Business Continuity Management System (BCMS) drill, further reinforcing its commitment to international standards in crisis…
China’s Lutai to invest $385m in its first textile factory in Egypt
Hossam Heiba, the CEO of the General Authority for Investment and Free Zones (GAFI), has met a high-level delegation from Lutai Group, the world’s largest producer of dyed fabrics and…
Egypt, Germany sign €77.3m debt swap, grant agreements to boost development
Egypt and Germany have strengthened their economic partnership with the signing of agreements worth a total of €77.3m, aimed at supporting development across multiple sectors. The agreements include a debt…
Iranian economy grows 4% in first half of fiscal year
The Iranian economy experienced a 4 per cent growth in the first half of the current Iranian fiscal year, spanning March 21 to September 22, 2024, according to a recent…
Dubai Green Hydrogen project produces 90 tonnes, sets regional benchmark
Dubai's pioneering Green Hydrogen project has produced 90 tonnes of green hydrogen since its launch, the Dubai Electricity and Water Authority (DEWA) has announced. The initiative is the first of…
Iran to protect rare 2,800-year-old Urartu inscription
Iranian authorities have announced plans to preserve a rare cuneiform inscription dating back approximately 2,800 years to the Urartu kingdom. The inscription, located in Nashtiban, Rezavi Khorasan Province, in eastern…
Russia, African nations discuss Moscow Museum of African Culture
Representatives from Russia and various African nations have engaged in discussions regarding the establishment of a Museum of African Culture in Moscow. The teleconference, held across three locations in Russia,…
Brazil 1st Latin American nation to host ‘Russian Seasons’ cultural events
Brazil has become the first Latin American country to host the "Russian Seasons," a series of cultural events which have now concluded. Over several months, residents of the country were…
