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Thursday, April 18, 2024
Chairman and Chief Editor
Bedour Ibrahim
عاجل
وزيرة البيئة بجولة تفقدية لمتابعة الأعمال الإنشائية لقرية الغرقانة بمحمية نبق بجنوب سيناء باراجون للتطوير العقاري تمثل مصر فى قائمة الفائزين بجوائز شنايدر إليكتريك شنايدرإلكتريك تعلن أسماء الشركات العالمية الفائزة بالنسخة الثانية من جوائز تأثير الاستدامة لعام 2023 بايه بي بي: تحدي ندرة الموارد يؤثر على 91% من الشركات الصناعية.. وإعادة التدوير أصبح ضرورة ملحة شركة أبوظبي لطاقة المستقبل«مصدر»تستضيف الدورة الثانية من قمة الهيدروجين الأخضر بعد غد
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English صفحة 5

Saudi Arabia Preparing New ‘Wave’ of Private Sports Investment

Saudi Arabia expects a fresh injection of private capital into its local football clubs as it works to open up to investors.

Louis Vuitton chairman Bernard Arnault dethroned Elon Musk،Bezos for 1st time since2021

Bernard Arnault, chairman and chief executive of Louis Vuitton Moet Hennessy, the French luxury conglomerate LVMH, is crowned this week the world's richest person with $198 billion for the first time in three years, dethroning Tesla electric car company CEO Elon Musk whi is now the third richest person with $190 billion after Tesla shares tumbled 6 % compared to last year, while Jeff Bezos, boss

Ethiopia May Scrap Somaliland Recognition Amid Regional Pressure

Ethiopia is considering scrapping a plan to recognize the breakaway state of Somaliland, amid international pressure to defuse regional tensions over the proposal, according to people familiar with the matter.

IIF: Egypt historic Ras El-Hekma deal brings valuable cash inflows to achieve macroeconomic stability

Insitute of International Finance, IIF, stated that Egypt historic Ras El-Hekma deal will bring in $35bn of immediate financing within the next couple of months The cash windfall will help cover Egypt’s external financing needs over the next few years and, combined with a potential expanded IMF program, can boost gross reserves to over $50bn (8 months of imports), while the scale and speed of in

European Central Bank hints at June rate cut as it trims inflation forecast

The European Central Bank on Thursday lowered its annual inflation forecast, as its confirmed a widely expected hold of interest rates.

Weekly mortgage demand in the U.S. surges 11% as more homes hit the spring market

Spring hasn’t officially sprung yet, but the spring housing market already appears to be on the move despite stubbornly higher mortgage rates.

Emirates NBD-Egypt’s Net profits jump by 174%، recording EGP 3.24 bn during 2023

Continuing the significant performance in the Egyptian banking market, Emirates NBD-Egypt announced that it achieved record business results during 2023 as the Bank's financial statements revealed that its net profits rose to EGP 3.24 bn in 2023, compared to EGP 1.2 bn in 2022, with a growth rate of 174%, recording the highest annual growth rate in the bank's profits since the start of its busines

Multi-Billion Gulf Power Play Focuses on Egypt As Mideast War Rages

In barely 10 days, Egypt has gone from the brink of economic disaster to unlocking more than $40 billion of investments and loans from the United Arab Emirates and International Monetary Fund, with the likelihood of more to come from Saudi Arabia and others.

Egypt lets pound plunge to record lows، closing in on IMF deal

Egypt's pound hit a record low on Wednesday after the central bank said it would let the currency trade freely and hiked rates by 600 basis points at an unscheduled meeting, taking steps to stabilise the economy with help from Gulf investment and IMF funds.

TAQA Volt and Wadi Degla Development collaborate to install 14 EV charging stations across Wadi Degla Developments’ real estate projects

During a signing ceremony between TAQA Volt, a subsidiary of TAQA Power the electricity operating arm of TAQA Arabia group, the leading energy & utility solutions provider, and Wadi Degla Development, a significant partnership was forged to address the surging demand for electric vehicles (EVs) and sustainable living solutions. This collaboration aims to install over 14 EV charging stations across

Savills Egypt: Ras El Hikma deal poised to propel North Coast into Egypt's second-largest real estate market

Savills Egypt, the local office of the leading global real estate advisor, revealed its insights on the anticipated transformative impact of the Ras El Hikma development project on the North Coast of Egypt.

Egypt Unexpectedly Hikes Interest Rates as Devaluation Looms

Egypt hiked interest rates and allowed its currency to weaken more than 35% in a long-awaited devaluation that may pave the way for billions more in loans from the International Monetary Fund.

Artificial Intelligence stocks of the 10 best world AI companies this year

Artificial Intelligence, AI, is a growing field, and AI related stocks have done well over the past year and this year to date as well as have outpaced the S&P 500 by a significant margin year to date, as by mid last year, the SPDR S&P 500 Trust was up 18% while the First Trust Nasdaq Artificial Intelligence and Robotics ETF was up 24%.

Artificial Intelligence at First Trust Nasdaq،Robotics ETF was up 24% last year

Artificial intelligence, AI, has been with the world a long time, but it came more into focus with the release of ChatGPT and a plethora of similar apps in late 2022 and these apps could write reports, sort through data and find better ways of doing a number of tasks, which created a strong surge in AI-related stocks, and many have done well over the past year and this year to date.

Dubai Mall becomes most visited place on earth with record 105m visitors in 2023

Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19% on the previous year’s 88 million; sales were also exceptionally strong in 2023.

Roya Development's Grand Vision: The Big Business District Project Reaches 60 Billion Target Sales

Roya Developments has announced its latest project, “The Big Business District” in the 5th Settlement, New Cairo. The mixed-use project is launching its 1st phase (Cluster 1), comprising commercial, administrative units, and medical clinics covering an area of approximately 38,184 square meters with a built-up area of around 90,500 square meters. The project's launch aligns with Roya's development

Schneider Electric outperforms 2023 sustainability targets and maintains its leadership in ESG ratings

Schneider Electric, the leader in the digital transformation of energy management and automation, announced today its 2023 sustainability impact performance as part of its full-year financial results. The Schneider Sustainability Impact score for the year exceeded expectations, reaching 6.13 out of 10, and surpassing the year-end target of 6 out of 10. Schneider Electric was also recognized as a t

Mastercard and ALEXBANK announce partnership to enhance the financial services landscape and drive inclusive growth in Egypt

Mastercard has announced a partnership with ALEXBANK, a bank of the Intesa Sanpaolo group. This collaboration builds on both entities’ shared vision to fostering growth, accelerating digitization, and promoting financial inclusion. The partnership leverages Mastercard’s technologies to advance the bank’s payment solutions strategy and enhance the financial services landscape.

Saudi Arabia Seeks $80 Billion Investments in Push for More Tourists

Saudi Arabia is seeking to attract as much as $80 billion in private investment into the tourism industry as the kingdom looks to share the financial burden of plans to become one of the world’s most visited destinations.

Apple hit with $2 billion EU antitrust fine in Spotify case، will appeal

Brussels on Monday fined Apple   1.84 billion euros ($2 billion) for thwarting competition from music streaming rivals via restrictions on its App Store, the iPhone maker's first ever penalty for breaching EU rules.

Hassan Allam Holding Launches its Regional Headquarters in Riyadh to Expand International Operations

Hassan Allam receives The Ministry of Investment Saudi Arabia (MISA) investment license and approval to launch Regional Headquarters (RHQ) in Riyadh, Saudi Arabia.

SwissCham's Regular Meetings Ignite Discussion on Elevating EU-Egypt Trade and Investment

The Swiss Chamber of Commerce in Egypt organized a panel discussion for various industry leaders to discuss trade and investment relations between the European Union and Egypt and to provide valuable insights into the current landscape and future expectations. The meeting was held online as part of the regular monthly meetings held by the Swiss Chamber of Commerce, in line with its commitment to s

Gaza Cease-fire Talks Face Stand-off as Hunger and Pressure Grow

Israel delayed sending a high-level delegation to Cairo for talks on a cease-fire in the war against Hamas for a second day, putting a damper on hopes for an imminent deal.

Beltone leads the way in arranging Syndicated Factoring Facility worth EGP925 million for Redcon Properties

Beltone Holding ( Beltone ), one of the fastest-growing financial institutions, announces that its wholly owned subsidiary, Beltone Leasing and Factoring, has signed the first syndicated factoring deal in Egypt worth EGP925 million for Redcon Properties.

Mashreq Egypt launches Mashreq NEO segment

In line with the government and Central Bank of Egypt’s financial inclusion efforts, Mashreq Egypt announced the launch of its new segment; Mashreq NEO. The new segment marks a significant milestone in revolutionizing mass banking in Egypt and is set to profoundly influence banking interactions. Mashreq NEO will cater to customers from all parts of Egyptian society, allowing them quick and seamles

‘Cyber-physical attacks’ fueled by AI are a growing threat، experts say

When most people hear about cybersecurity hacks they envision frozen monitors, ransomware demands, and DDoS attacks that compromise connectivity for a few hours or even days.

Space Tank Contracts with Sky Abu Dhabi to Equip and Develop Commercial Area for BlueTree Project in New Cairo

As part of its plan to lead the market of integrated commercial and service facilities in the real estate sector, Space Tank - specialized in managing commercial centers and service facilities - has entered into a contract with Sky Abu Dhabi Real Estate Development Company - the real estate arm of the Emirati Diamond Group - to undertake the preparation and development of the commercial and servic

Hamas Confirms Cairo Truce Talks، Seeks Israeli Concessions

Hamas said a delegation is traveling to Cairo to outline the group’s position on talks that may lead to a temporary cease-fire in Gaza — even as reports surface that it’s refused to give Israel the names of which hostages taken in October are still alive.

WTO Set to Extend Moratorium on E-Commerce Tariffs for Two Years

The World Trade Organization agreed to extend a moratorium on e-commerce tariffs for two years after marathon negotiations in Abu Dhabi, while failing to secure deals on other contentious trade issues including a crackdown on agriculture and fisheries subsidies.

Gaza Cease-fire Talks to Resume in Egypt on Sunday، Reuters Says

US military cargo planes dropped about 38,000 meals into Gaza on pallets early Saturday, the first round of emergency aid authorized by President Joe Biden, the Associated Press reported, citing US officials.

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