Egyptian-Gulf alliance launches Mahawer Developments with EGP 7bn investment
An Egyptian-Gulf alliance of three leading real estate developers—SIAG Developments, El Alwy Urban Development, and Misk Development—has launched Mahawer Developments, a new company aimed at investing EGP 7bn in real…
Emtelaak launches in Egypt with innovative fractional real estate ownership partnership
Emtelaak has officially entered the Egyptian market, announcing its launch with a strategic partnership agreement with Uptown 6 October, a prominent real estate development company. This collaboration marks Emtelaak’s debut…
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…
