alekhbaryia Archives - الصفحة 15 من 51 - جريدة الاخبارية

Banque Misr Partners with Moody’s to Launch TP Catalyst Platform for the First Time in Egypt

Posted on أكتوبر 14, 2025 by doha

In a pioneering move that reinforces Banque Misr’s leadership in the Egyptian

banking sector, the bank has signed a strategic cooperation protocol with Moody’s

becoming the first bank in Egypt to adopt the Moody’s TP Catalyst platform The globally

recognized solution enhances transfer pricing analysis, tax governance, and promotes

transparency and regulatory compliance The signing ceremony was attended by Mr Ahmed Issa,

Executive Vice President of Banque Misr, and Mr Brendan Gavaghan, Head of Middle East and South

Asia at Moody’s The agreement was officially signed by Mr Mohamed Sherif, Chief Financial Officer

at Banque Misr, and Mr David Tim Njoroge, Head of Transfer Pricing and Tax Solutions for the Middle

East and South Asia at Moody’s, along with a distinguished delegation from both institutions

TP Catalyst: Enhancing Transfer Pricing Risk Management and Strategic Decision-Making

With this partnership, Banque Misr will leverage Moody’s TP Catalyst, a leading

global solution that facilitates in-depth transfer pricing risk assessment The platform enables the bank to

Strengthen international tax compliance

Enhance transfer pricing risk management across its subsidiaries

Improve strategic decision-making

Build a robust, future-ready transfer pricing framework

Banque Misr Affirms Commitment to Global Standards and Sustainable Growth

Commenting on the collaboration, Mr Mohamed Sherif, CFO at Banque Misr, stated

This strategic partnership represents more than just a technological advancement

it underscores Banque Misr’s unwavering commitment to fairness, sustainable growth, and

adopting international best practices It also aligns with our vision to integrate innovative solutions

that enhance transparency, governance, and operational efficiency across our local and international activities

From Moody’s side, Mr Brendan Gavaghan added”We are proud to partner with Banque Misr on this

landmark initiative By establishing a dedicated transfer pricing and international tax management function

Banque Misr is setting a new standard for the financial sector in Egypt and beyond With TP Catalyst, the

bank is not only ensuring compliance but also unlocking strategic value that will drive sustainable growth

First-of-its-Kind Initiative in Egypt’s Banking Industry

The adoption of TP Catalyst marks a first in the Egyptian banking sector, showcasing

Banque Misr’s proactive role in embracing digital transformation, fiscal transparency

and advanced tax technologies It highlights the bank’s leadership in setting a precedent for

Tax governance innovation

Establishing a centralized transfer pricing function

Creating a replicable model for tax compliance and risk management across the region

Supporting Egypt’s Sustainable Development Vision

This initiative aligns with long-term strategy to support Egypt’s economic

development goals by embracing digital innovation, transparency, and international compliance

standards The move further consolidates the bank’s role as a key player in advancing sustainable

financial practices in Egypt and the wider MENA region

SUD Delivers First Villas in New Mansoura with The Pearl Project Launch

Posted on أكتوبر 14, 2025 by doha

In a festive celebration, Safwa Urban Development (SUD) officially became the first real estate

developer to hand over units in New Mansoura City, marking a historic achievement in Egypt’s

growing urban development landscape The event, held to commemorate the delivery of several

villas within The Pearl project, highlighted SUD’s unwavering commitment to on-time delivery and

high construction standards

Homeowners Rejoice as The Pearl Villas Are Delivered

The handover ceremony witnessed a large turnout of happy homeowners, who gathered

to receive their units and celebrate the milestone Clients were invited on stage to take

commemorative photos in a vibrant atmosphere filled with pride and joy As a gesture of

appreciation, SUD surprised homeowners with valuable gifts and a one-year complimentary

medical insurance plan, reinforcing its dedication to customer satisfaction and long-term relationship building

Commitment Amid Challenges: SUD Sets New Standards

Despite prevailing economic and market challenges, SUD emphasized its commitment to

executing and delivering its projects without delay This achievement adds to the company’s

portfolio of successful developments across Egypt, positioning it as a leader in New Mansoura

real estate The company also announced the launch of a new phase of The Pearl, offering

flexible payment plans starting with a 10% down payment and installments over 10 years

Units in this phase start from 57 sqm and will be delivered in a semi-finished condition, catering

to diverse buyer needs

The Pearl: A Fully Integrated Living Experience in New Mansoura

Strategically located just 10 minutes from Delta University and New Mansoura University

The Pearl spans over 60 acres with a 550-meter beachfront. A standout in real estate in Egypt’s

Delta region, the project dedicates 77.5% of its area to green spaces and features a wide range

of unit types, including villas and townhouses Residents will also benefit from high-end amenities

such as a clubhouse, luxury hotel, and New Mansoura’s first open-air commercial mall spread

across 12 acres. The project’s architecture follows world-class design standards, emphasizing

elegance and functionality

Record ROI and Strong Demand from Local and International Buyers

The Pearl project has proven to be a lucrative investment, attracting buyers from within Egypt

and abroad Between 2019 and 2024, the project achieved an impressive return on investment

of approximately 350%, reflecting the strong demand and trust in SUD’s developments

Sales soared in the first half of 2025, further cementing The Pearl as a premier choice in

Egypt’s real estate market

Distinguished Guests and Entertainment Highlight the Grand Ceremony

The event featured the participation of several prominent figures Mr Ahmed El-Adl

Deputy Governor of Dakahlia, applauded SUD’s adherence to project timelines and its

role in boosting public-private partnerships in urban development Eng El-Sayed Hammam

Head of the New Mansoura City Authority, praised the project’s exceptional quality and prime

location Senator Tarek Abdel Hady and Mr Hazem El-Naggar, Head of the Journalists Syndicate

in Dakahlia, also commended SUD’s excellence in execution and the well-organized celebration

A special presentation by Dr Hesham Hilal, CEO of Criteria Design Group, showcased the advanced

design and engineering collaboration that contributed to the project’s success

Star-Studded Celebration with Entertainment and Glamour

Egyptian actress Bushra opened the ceremony, expressing her delight at being part of a

celebration that highlights New Mansoura’s transformation into a thriving urban hub

The evening was further enlivened by performances from popular artists including Nicole Saba

who delivered a high-energy musical set, and magician Chris El Masry, who captivated the audience

A saxophone performance by actress Rahma Hassan provided a refined musical finale, earning

widespread applause Celebrity guests such as Rogina, Dalia Mostafa, Rania Mansour, Khaled Selim

and Mohamed Nour also attended, praising the elegance of The Pearl and the sophistication of the event

Looking Ahead: SUD Expands Its Vision in Egypt’s Real Estate Market

With the successful handover of The Pearl’s first villas, SUD not only reinforces its position

as a trusted real estate developer in Egypt but also sets the stage for future growth in New

Mansoura City and beyond The newly launched phase offers prospective homeowners and

investors a chance to be part of one of Egypt’s most ambitious and promising urban developments

FATF Highlights Egypt’s Financial Inclusion Strategy as a Global Best Practice

Posted on أكتوبر 14, 2025 by doha

The Financial Action Task Force (FATF) has officially recognized Egypt’s experience

as one of the international best practices in balancing financial inclusion with adherence

to anti-money laundering (AML) and counter-terrorist financing (CFT) standards The recognition

was highlighted in FATF’s updated Guidance on Financial Inclusion and AML/CFT Measures, released

in June 2025 This milestone underscores Egypt’s leadership in financial reform, spearheaded by the

Central Bank of Egypt (CBE) in collaboration with the Egyptian AML/CFT Unit, demonstrating how

regulatory innovation can expand access to finance while preserving financial integrity

Who is FATF and Why This Recognition Matters

Established in 1989 and headquartered in Paris, the FATF is a 40-member intergovernmental

body that sets international standards to combat money laundering, terrorist financing, and the

financing of proliferation of weapons Its guidelines influence national regulations and global

compliance practices across all financial systems By featuring Egypt’s approach as a model for

other countries, the FATF affirms that inclusive financial systems can and must coexist with

robust financial crime controls

CBE’s Balanced Approach: Inclusion with Integrity

According to the FATF Guidance, the CBE has played a pivotal role in designing

and implementing comprehensive regulatory frameworks that support equitable access

to financial services, while maintaining strict AML/CFT compliance. These efforts have

helped economically empower underserved populations without compromising the safety

and transparency of Egypt’s financial system

Among the most impactful CBE initiatives

Simplified customer due diligence (CDD) for individuals and micro-enterprises

Opening bank accounts for youth (ages 15+), craftsmen, and freelancers using national ID only

Allowing banking agents to verify customer identity, expanding financial outreach

Development of tailored financial products for women, youth, and people with disabilities

Advancing Digital Financial Inclusion in Egypt

In line with Egypt’s national digital transformation strategy, the CBE has advanced

digital financial inclusion by

Promoting the adoption of e-wallets and prepaid cards

Issuing licensing and regulatory frameworks for digital banks

Supporting remote access to financial services, especially in underserved areas

These digital policies are designed to bridge the financial access gap, especially in rural

regions, while ensuring all digital channels meet security and compliance standards

Strengthening Egypt’s Financial Infrastructure

The CBE’s vision also includes strengthening key financial institutions

Enhancing the role of I-Score (the Egyptian Credit Bureau) in assessing creditworthiness

Expanding the function of the Credit Risk Guarantee Company to support financing for SMEs

a vital driver of Egypt’s economy

These measures reflect Egypt’s commitment to building a resilient financial system that

supports innovation, financial access, and economic growth

A Strategic Milestone: Remarks by CBE Governor Hassan Abdalla

Commenting on the FATF recognition, CBE Governor H.E. Mr. Hassan Abdalla stated

This global recognition reinforces our strategic commitment to building an inclusive financial

system that protects national financial stability while empowering citizens through access to

formal financial services He added that the recognition reflects the fruitful cooperation between

the CBE, the AML/CFT unit, and other national stakeholders, and serves as validation of Egypt’s

leadership in the financial regulatory landscape

Egypt’s Role in Shaping Global AML/CFT and Inclusion Standards

The updated FATF guidance was developed in collaboration with key international stakeholders

including the Central Bank of Egypt and the Egyptian AML/CFT Unit. This participation reflects

Egypt’s thought leadership and influence in shaping global financial inclusion and compliance strategies

The document encourages countries worldwide to adopt risk-based, proportionate approaches to AML/CFT

compliance that do not hinder financial inclusion goals — a balance Egypt has demonstrably achieved

Egypt’s inclusion in the FATF’s list of global best practices reaffirms its position as a regional and international

leader in financial inclusion, AML/CFT regulation, and digital transformation. With the continued efforts

of the Central Bank of Egypt, Egypt is well-positioned to remain a benchmark for how developing

economies can achieve inclusive, safe, and compliant financial systems

LG Beats Market Expectations in Q3 2025 with Record Vehicle Solutions Performance

Posted on أكتوبر 14, 2025 by doha

LG Electronics announced its preliminary Q3 2025 earnings with KRW 21.88 trillion

in revenue and KRW 688.9 billion in operating profit, surpassing market forecasts thanks

to strong performance in vehicle solutions, home appliances, and subscription services

Q3 2025 Highlights: Revenue and Profit Beat Market Forecasts

LG Electronics Inc (LG) has announced its preliminary earnings for the third quarter of 2025

reporting consolidated revenue of KRW 21.88 trillion and operating profit of KRW 688.9 billion

Despite facing external challenges such as rising U S tariffs, both figures outperformed market

expectations Revenue marked the second-highest Q3 performance in LG’s history, while operating

profit exceeded recent forecasts by over 10% However, operating profit declined year-on-year due

to non-recurring factors, including increased tariff-related costs amid shifting global trade dynamics

Vehicle Solutions and Home Appliances Drive LG’s Growth

ability to outperform market expectations was largely driven by robust performance

in key and future-oriented segments, particularly its vehicle solutions and home appliance businesses

The vehicle solutions division is expected to have achieved record profitability, driven by strong demand

for premium in-vehicle infotainment systems This contributed to improved operating margins, while the

business continues expanding its portfolio into vehicle content platforms beyond traditional hardware

Meanwhile, the home appliance business maintained its leadership in the premium segment despite

continued tariff pressure on U S exports and sluggish global demand recovery. This stability was supported

by optimized production, efficient resource allocation, and ongoing growth in subscription-based appliance

services a key pillar of LG’s non-hardware platform expansion

Strengthening B2B and Subscription Services for Sustainable Growth

LG continues to reinforce its business fundamentals through a strategic focus on qualitative growth

emphasizing B2B operations such as HVAC solutions and vehicle systems The company is also expanding

non-hardware platforms, including its appliance subscription model and webOS smart TV platform, which

are gaining traction in the global market In addition, the upcoming IPO of LG Electronics India Limited

is expected to provide substantial funding to accelerate structural improvements and support long-term

growth initiatives

webOS Platform and Global South Expansion

The media and entertainment division faced increased marketing expenses due to intensifying

competition in the global TV market LG plans to enhance the competitiveness of its webOS platform

by growing its advertising capabilities and expanding its digital content offerings

The company is also focusing on the Global South, where demand for televisions remains relatively

stable, offering new opportunities for market penetration and revenue diversification

Eco Solutions Business: A Strategic Growth Engine

LG’s eco solutions business is rapidly expanding into future-focused markets, including commercial

HVAC systems, industrial chillers, and power plant cooling technologies The company has secured

major projects involving AI-powered data center cooling in North America, Latin America, the Middle

East, and Asia LG is also preparing to commercialize next-generation liquid cooling solutions

for data centers, a technology expected to play a major role in future business expansion and

long-term growth

Final Earnings and Division Details to Be Announced

These results represent preliminary consolidated earnings based on Korean International

Financial Reporting Standards (K-IFRS) and are provided as an investor service Net profit figures

and detailed performance by division will be officially released later this month

A Promising Outlook for LG Electronics

Despite global headwinds, LG Electronics Q3 2025 performance reflects the company’s strategic

agility and strength in innovative, future-oriented businesses With solid foundations in vehicle

solutions, home appliances, and subscription-based services, LG is well-positioned for continued

growth in the evolving global tech landscape

Majed Mounir: STORM accelerates its expansion across Africa and the northern region, aiming to explore new growth horizons.

Posted on أكتوبر 14, 2025أكتوبر 14, 2025 by maryem

Amid the buzzing halls of GITEX Dubai 2025, Majed Mounir, Founder and CEO of STORM, revealed

the company’s bold plans to expand aggressively across Africa and North

Africa, capitalizing on its strategic hub in Dubai’s Free Trade Zone to drive its next phase

of regional and global growth.

“STORM is moving forward at full speed to strengthen its presence across regional and

international markets, with a particular focus on the Maghreb and

African regions,” said Mounir, underscoring the company’s ambition to reach a wider

customer base through its expanding distribution network.Having already

achieved significant coverage across the Gulf, STORM is now turning its attention

to high-potential markets including Algeria, Morocco, Tunisia, Sudan, Ethiopia,

and Cameroon — territories

Mounir described as “promising markets full of opportunities for sustainable growth.”

“We work closely with top global brands like HONOR and Samsung, and each market tells

a different story,” he explained.

“In Sudan, Samsung holds the lion’s share; in Ethiopia, price is the main driver; while

in Morocco and Algeria, consumers lean toward premium smartphone categories.”

Africa’s Digital Momentum

Mounir highlighted that STORM’s footprint in Africa has been growing steadily, powered by

collaborations with local partners in each market who help the company

better understand consumer needs and optimize distribution efficiency.

He praised the UAE’s pioneering digital transformation and investment climate,

describing it as “a model that inspires the entire region.”

Mounir also noted that African consumers are evolving rapidly due to the spread

of internet connectivity and social media:

“Today’s consumers are more informed, more selective, and far more value-conscious.

They compare brands and prices before making any decision.

The real strength of a distributor lies in smart marketing and after-sales service — two

pillars that STORM

gives top priority.”

He added that STORM’s growth strategy centers on working hand in hand with local

market leaders to expand distribution networks and deliver reliable

after-sales support, granting the company flexibility and speed

to scale operations across diverse territories.

Global Alliances, Local Expertise

According to Mounir, STORM’s alliances with leading international brands give

the company access to the most sought-after devices, while it manages end-to-end

trade and distribution across regional markets.

“Our role is to ensure that customers receive original, high-quality products at competitive

prices,” he said, noting that the company’s current focus is on

smartphones, accessories, and smartwatches — three of the fastest-growing categories in

emerging markets.

Investing in the Future

Wrapping up his remarks, Mounir emphasized that STORM’s vision extends beyond

commercial success.

“We don’t just build businesses — we build ecosystems of collaboration that open

doors for innovation and sustainable growth across the region,” he said passionately.

Looking ahead, he revealed that STORM plans to inject new investments in 2026

as part of an ambitious expansion strategy that includes opening new

offices, entering additional markets, and introducing world-class electronic brands to

consumers in untapped territories.

“STORM today stands among the most promising companies capable of leading a new

wave of growth in the regional electronics and distribution sector,” Mounir concluded.

About STORM

With over 25 years of experience, STORM has become a key player in international trade, import, and export,

specializing in telecommunications, electronics, and home appliances.

The company partners with HONOR, Samsung, Apple, OPPO, Xiaomi, Realme, Infinix, and Nokia, providing integrated

solutions for mobile devices, air conditioners, and a wide range of electronic products.

Between 2015 and 2023, STORM established and operated over 50 Orange Egypt franchise branches, which remain among

the most successful nationwide — a benchmark for excellence in telecom retail.

Beyond its tech business, STORM has diversified into agriculture and exports, supplying premium crops such as potatoes,

onions, garlic, and oranges to destinations including Lebanon and Russia.

It also operates a modern greenhouse facility

in Georgia, producing high-quality vegetables under sustainable farming practices.

From its regional hub in Dubai’s Free Trade Zone, STORM manages large-scale

wholesale distribution of electronic devices and is now gearing up for an ambitious

push into Africa and North Africa, aiming to forge new partnerships, unlock growth

opportunities, and cement its position as one of the region’s fastest-growing electronics and

distribution powerhouses.

Squares Developments launches its latest project at New Capital with EGP 15bn investments

Posted on أكتوبر 13, 2025أكتوبر 13, 2025 by aberabozaher

In a move that reaffirms its confidence in Egypt’s real estate market and the New Administrative Capital as a premiel r investment hub, Squares Developments announced the launch of its third project, Sage Lakes Residence, with totainvestments amounting to EGP 15bn.

Squares Developments

The new development aligns with the company’s expansion strategy to diversify its investment portfolio and broaden its customer base.
Eng. Talaat Gorgous, Chairman of Squares Developments, stated that the New Administrative Capital has proven over the past years its ability to attract major companies and investors, driven by its robust infrastructure, advanced urban planning, and continuous government support — establishing it as a prime investment destination for committed developers.

During the company’s press conference, Gorgous stated that the new project marks a major milestone for Squares Developments, distinguished by its strategic location, innovative architectural design, and collaboration with strong success partners.
He said that the project further strengthens the company’s position as one of the leading developers known for customer satisfaction and a long history of delivering outstanding real estate projects.

He added, “The Sage Lakes Residence project forms part of our ambitious expansion strategy, which we are actively implementing by leveraging our extensive experience, strong financial position, strategic partnerships, and highly skilled team across all departments. Our upcoming project is planned to be launched in the North Coast to ensure greater diversification of our investment portfolio.”

Haron Abd Elghany, Chief Commercial Officer (CCO) at Squares Developments, stated that the Sage Lakes Residence features a diverse range of units, starting from studios to duplexes and villas, with areas reaching up to 258 sqm.

The project includes a dedicated villas zone centered around large artificial lakes, as well as a mosque and a church, reflecting the spirit of community cohesion and national unity promoted by the Egyptian state in recent years, Abd Elghany said.

He further added that the compound also includes a commercial section comprising administrative offices, medical clinics, a pharmacy, and all essential family services, offering a wide variety of amenities. These include a large parking area, a clubhouse on the rooftop of each building, jacuzzis, saunas, and two additional clubhouses, ensuring the highest standards of quality living and luxury. The company aims to cater to the needs of two generations of target customers.

Abd Elghany noted that the first phase of the project is being launched with a down payment starting at 2.5%, with the remaining balance payable over 10 years — a payment plan thoughtfully designed to ensure a balance between client satisfaction and the company’s interests.

He explained that the commercial team conducted extensive market research on target customers to develop flexible payment options tailored to their needs.

The CCO pointed out that the company aims to expand its investment portfolio to EGP 22bn in the coming period, relying on its strong track record, solid financial position, and the attractive investment climate that supports the growth plans of ambitious developers.

Amid rising market competition, clients now have the ability to choose based on developers’ proven credibility, commitment to delivery, and execution quality — success factors that define Squares Developments, Abd Elghany said.
Eng. Hany Gorgous, Vice Chairman of Squares Developments, said that the compound spans approximately 33 acres in a strategic location within the R8 area at the New Administrative Capital. It is situated directly in front of a large service zone and near a sports club and a university.

He added that the company is collaborating with major entities, including Hafez Consultants and the International Project Management Company.

Gorgous noted that choosing highly experienced and qualified partners reflects the company’s commitment to delivering a fully integrated real estate product that meets the latest standards of sustainability and innovation, while ensuring the best investment value for its clients.

The development also reflects the company’s meticulous attention to every detail of design and execution, ensuring a development that lives up to its distinguished name, rich legacy, and the solid track record of its founders.
For his part, Eng.

Mina Maher, Board Member of Squares Developments, disclosed that the project is a fully integrated residential and urban development that includes a commercial component and a wide range of premium services designed to provide an exceptional quality of life and luxury for clients. The company targets EGP 5bn in sales from the project’s first phase.

Maher noted that the project provides clients with a distinctive destination that brings together all key features in one location within the New Administrative Capital. Construction is set to begin in the first quarter of next year, with execution, timely delivery, and commitment remaining fundamental pillars of the company’s strategy—ensuring its market leadership and sustained customer satisfaction.

Meanwhile, Eng. Mohamed Hafez, Chairman of Hafez Consultants, highlighted that the firm is dedicated to delivering architectural designs that embody an integrated vision — blending aesthetic excellence with functional efficiency to maximize space utilization and give the project a distinctive architectural identity in the heart of the New Administrative Capital.

Hafez added that the collaboration with Squares Developments aims to introduce an innovative concept that ensures a refined urban experience aligned with global development standards and the extensive expertise of both partners.

Tarek Fahmy, General Manager of the International Project Management Company, stated that the partnership with Squares Developments reflects a strategic collaboration aimed at delivering a fully integrated project built to the highest standards of quality in construction, management, and operation.

Fahmy disclosed that his company will oversee the project’s management and operations to ensure it delivers tangible value to Egypt’s real estate market while strengthening the track record of both partners.

President Abdel Fattah El-Sisi Awards the Nile Collar to President Donald Trump in Recognition of His Efforts to Support Peace and End the War in Gaza

Posted on أكتوبر 13, 2025أكتوبر 13, 2025 by maryem

President Abdel Fattah El-Sisi of the Arab Republic of Egypt has decided to award the

Nile Collar, Egypt’s highest state honor, to President Donald Trump, President of the United States

of America, in recognition of his distinguished contributions to supporting peace efforts, defusing

conflicts, and most recently, his pivotal role in ending the war in Gaza.

This decision reflects the longstanding bilateral relations between Egypt and the United States and

highlights the Egyptian leadership’s commitment to honoring international figures who play a significant

role in achieving regional and global stability.

The Egyptian Presidency emphasized that awarding the Nile Collar to President Trump expresses the nation’s

gratitude for his intensive diplomatic efforts over recent months, which culminated in a ceasefire and the

initiation of a new path toward calm and reconstruction in Gaza.

It is noteworthy that the Nile Collar is the highest civilian award granted by the Egyptian state, typically

bestowed upon heads of state and personalities who have made significant contributions to the causes

of the nation and world peace.

Central Bank: S&P Global Upgrades Egypt’s Credit Rating on FX Reform and Economic Growth

Posted on أكتوبر 13, 2025 by doha

H E Mr Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), welcomed

the recent decision by S&P Global Ratings to upgrade Egypt’s sovereign credit rating

from “B-” to “B” with a stable outlook He affirmed that the upgrade reflects growing

international confidence in the Egyptian economy, driven by a comprehensive agenda

of monetary and structural reforms The Governor highlighted that exchange rate unification

was a pivotal measure in enhancing market stability and restoring investor trust, pointing to

recent improvements in external sector indicators and the increase in foreign exchange reserves

as evidence of the reform program’s effectiveness

CBE Reaffirms Commitment to Price Stability and Sustainable Growth

Mr Abdalla reiterated the Central Bank’s commitment to implementing sound monetary policies

aimed at curbing inflation, maintaining financial system stability, and fostering sustainable economic

growth These policy directions are essential for enhancing Egypt’s economic resilience and reinforcing

international investor confidence

Central Bank : FX Liberalization and Reform Drive Boost Economic Outlook

On Friday, S&P Global Ratings announced its decision to raise Egypt’s long-term credit rating

to “B” marking the country’s first upgrade in seven years The agency cited significant economic

reforms over the past 18 months, most notably the liberalization of Egypt’s foreign exchange regime

as the primary driver behind the rebound in GDP growth during fiscal year 2025

S&P noted that transitioning to a flexible exchange rate has strengthened Egypt’s economic fundamentals

alongside notable increases in tourism revenues, remittance inflows, and net financial inflows, which have

collectively supported the country’s external financial position

Fitch Ratings Affirms Egypt’s ‘B’ Rating with Stable Outlook

In parallel, Fitch Ratings reaffirmed Egypt’s long-term foreign-currency credit rating

at “B” with a stable outlook, acknowledging the country’s resilient economic performance

improved external accounts, and continued progress in fiscal consolidation, despite regional

geopolitical pressures

Egypt Gains Global Recognition for Reform Progress

Central Bank The latest credit rating upgrade by S&P and affirmation by Fitch send a strong signal to global

markets about Egypt’s economic reform credibility, policy discipline, and determination to sustain

macroeconomic stability These developments are expected to enhance Egypt’s attractiveness to

international investors, improve financing terms, and support long-term economic development

Tesla Developments to Finalize Green Town Deliveries by End of October

Posted on أكتوبر 12, 2025 by Fatma abdelhamed

Tesla Developments, a leading real estate developer in Egypt, has announced its plan to complete the delivery of its Green Town project in 6th of October City by the end of this month.

.This announcement underscores the company’s commitment to timely delivery and maintaining high construction standards across its developments

Strong Track Record in Timely Delivery

Ahmed Bashir, Founder of Tesla Developments, emphasized the company’s strong track record over recent years in meeting project deadlines and executing developments efficiently.

“Our focus on timely delivery has become a crucial factor for clients when choosing developers in Egypt’s competitive real estate market,” said Bashir. He added that Tesla Developments has been handing over units in the Green Town project gradually over the past year and is now set to finalize all deliveries by October.

Green Town: A Prime Family Housing Project in Hadayek October

.The Green Town project, spanning 18 acres in Hadayek October, currently accommodates over 1,000 families and features fully operational services and amenities

.The project’s strategic location in a rapidly growing area of West Cairo supports the increasing demand for integrated family housing

Comprehensive Development Strategy Focused on Client Trust

Yasser Mohamed, Co-founder of Tesla Developments, highlighted the company’s comprehensive development strategy that prioritizes client trust through on-time project completion and superior build quality.

Mohamed noted that Tesla Developments carefully selects project locations to ensure maximum investment returns, focusing on promising neighborhoods like Hadayek October and West Cairo.

Upcoming Launch of New Sustainable Residential Project

.Looking ahead, Tesla Developments plans to launch a new residential project featuring modern designs that align with Egypt’s vision for sustainable urban growth

“Customer trust, sustainability, and quality of life remain at the core of our company’s mission,” Mohamed added, reinforcing Tesla Developments’ position as a preferred choice amid strong competition in West Cairo’s real estate sector.

Central Bank of Egypt Unveils Banking Development Fund to Drive Digital Transformation

Posted on أكتوبر 11, 2025أكتوبر 11, 2025 by doha

In a strategic move to enhance the resilience and global competitiveness of the Egyptian

banking sector, the Central Bank of Egypt (CBE) has officially launched the Banking Reform

and Development Fund, a pivotal initiative aimed at accelerating banking modernization and

supporting digital transformation in line with international best practices

The Fund’s Board of Directors (BoD) has been appointed for a four-year term and is chaired

by H E Mr Hassan Abdalla, Governor of the CBE The Board brings together prominent leaders

from the banking, finance, and information technology sectors, ensuring a broad and innovative

approach to sector development

Central Bank:Board Composition Reflects Cross-Sector Expertise

Central Bank The Fund’s governance structure is designed to provide strategic oversight with

a well-rounded mix of expertise It includes

Mr. Rami Aboulnaga, Deputy Governor for Monetary Policy

Mr Tarek ElKholy, Deputy Governor for Banking Stability

Five bank leaders elected by the Federation of Egyptian Banks (FEB)

Mr Mohamed El-Etreby, CEO, National Bank of Egypt

Mr Mohamed Abbas Fayed, CEO, First Abu Dhabi Bank – Egypt (FABMISR)

Mr Akef El Maghraby, CEO and Managing Director, Suez Canal Bank

Mr Tamer Waheed, Vice Chairman and Managing Director, AAIB

Mr Mohamed Abdelkader, Managing Director, Citibank Egypt

Three independent members from outside the banking sector

Mr Mohamed Abdallah, CEO, Vodafone Egypt & Regional Head at Vodacom

Eng Hoda Mansour, Vice Chair and MD at Sukari Gold Mines

Mr Tarek Abdel-Rahman, CEO, Bonyan for Development and Partner at Compass Capital

Strategic Priorities: Innovation, Cybersecurity, and Talent Development

Chaired by the Governor, the Fund’s inaugural meeting focused on laying out a strategic roadmap

defining priorities, and setting a robust governance framework The Fund will act as a catalyst for

change, supporting projects that aim to upgrade the banking sector’s technological infrastructure

enhance cybersecurity resilience, and build human capital capacity

Governor Hassan Abdalla emphasized that this Fund is a cornerstone in Egypt’s comprehensive

financial reform agenda, with a clear mandate to increase the sector’s efficiency, technological

adaptability, and global competitiveness He also highlighted the importance of drawing on diverse

sectoral expertise to guide strategic planning and execution

Fund’s Objectives: Digital Transformation, Financial Inclusion, and Resilience

Established under Law No. 194 of 2020 (Central Bank and Banking Sector Law), the Fund

operates as an independent legal entity affiliated with the CBE It includes all banks as

members and maintains independent financial statements

Its core objectives include

Enhancing national payment infrastructure

Promoting digital banking and FinTech innovation in Egypt

Addressing IT incidents and cyber threats effectively

Supporting business continuity and recovery plans

Strengthening financial literacy and expanding financial inclusion

Encouraging banking product and service innovation

Improving operational efficiency across institutions

Flexibility to Invest and Collaborate at National and Global Levels

Central Bank To achieve its mission, the Fund is authorized to

Establish or invest in joint-stock companies

Enter into partnerships, MoUs, and cooperation agreements with relevant local and international stakeholders

Promote knowledge exchange and drive cross-border collaboration for sustained banking sector growth

Central Bank: A New Chapter for Egypt’s Banking Sector

The launch of the Banking Reform and Development Fund marks a significant milestone

in Egypt’s journey toward a modern, inclusive, and resilient financial system Backed by

a strong governance structure and strategic vision, the Fund is set to play a transformative

role in supporting innovation, protecting digital infrastructure, and building a future-ready banking ecosystem

Christina Saab Reveals Deep Family Bonds and Joyful Moments in the Life of Elie Saab Jr.’s Family During Summer 2025

Posted on أكتوبر 9, 2025 by maryem

Christina Saab Documents Spontaneous Family Moments with Elie Saab Jr. and Their Children

Christina Saab, the wife of Elie Saab Jr., son of the world-renowned Lebanese designer Elie Saab, shares

on her official Instagram account the most beautiful family moments that bring her together with her

husband and their two children, Sophia and Elie Saab.

Her spontaneous photos are filled with joy and fun, where they all appear in intimate shots that reflect

deep love and happiness among them — like the recent photo taken by Christina while carrying her

son Elie, as Sophia hugs her from behind in a moment filled with laughter and delight.

A Family Summer Vacation Full of Memories and Femininity

Christina Saab posted several photos documenting their enjoyable times during their summer vacation in the

countryside, where the couple and their children appeared enjoying the summer vibes in coordinated outfits

that reflect the spirit of unity within the family.

The photos taken by the beach and in the midst of beautiful nature were not absent, where the harmony

in their summer clothing stood out to embody the simplicity of family moments and the spirit of fun and

harmony among them.

A Prominent Appearance at Paris Fashion Week for the Elie Saab Spring/Summer 2026 Show

On the fashion front, Elie Saab Jr. and his wife Christina made an appearance at the Paris Fashion Week show

by the global designer Elie Saab, where Christina shared a photo of the two of them backstage at the show held

at the Palais de Tokyo in the French capital.

The designer’s Spring/Summer 2026 collection was inspired by the 1980s under the theme “A Brave Woman,”

reflecting women’s strength and elegance by combining practicality with femininity.

Strong Interaction from Followers with the Special Family Moments

Christina Saab’s family photos and her documentation of family occasions such as birthdays, graduations, and

summer holidays receive wide engagement from the fans and followers of designer Elie Saab, who follow the

family’s news with interest and love for the warmth and happiness these moments reflect within the family.

Squares Developments Expands in New Capital: New Project Set to Reach EGP 23 Billion in Sales

Posted on أكتوبر 9, 2025 by doha

Squares Developments has revealed its plans to launch its third real estate project

in the New Administrative Capital, boosting its sales target to EGP 23 billion This move

is part of the company’s robust expansion strategy and its unwavering confidence in the

growth potential of Egypt’s New Capital, which is rapidly emerging as one of the largest

smart cities in the region

Expanding Squares Developments’ Presence in New Capital

Eng Talaat Gorgous, Chairman of Squares Developments, emphasized that the new project

will be an extension of the company’s successful ventures in the New Administrative Capital

He noted that the city has become the top destination for real estate investment in Egypt

driven by a dynamic urban and economic transformation With the introduction of this third

project, Squares Developments will expand its portfolio in the New Capital to five projects, with

a combined sales target of EGP 23 billion. The project will feature an innovative architectural

concept that balances modern design with functional space efficiency, offering a product that

combines investment value and quality to meet the current market demand

“This new project will stand out as an exceptional choice for clients seeking unique and high-quality

developments in the New Capital,” Eng Gorgous state

Highlights of Previous Successful Projects in the New Capital

Eng. Hany Gorgous, Vice Chairman of Squares Developments, shared that the

company’s Remeny Project, located in the MU23 area, is a mixed-use development

that includes residential, hotel, commercial, administrative, and medical units Spanning

7,000 square meters, the project sits next to the Sports City and overlooks the Al-Amal Axis

The company has adopted a strategic marketing approach for the Remeny Project, ensuring

price stability and consistent construction progress In addition, Squares Developments owns

the West View Project, located on the Western Axis in the Downtown area of the New Capital

Covering 3,700 square meters, this mixed-use development features commercial, administrative

and medical units, highlighting the company’s commitment to delivering varied real estate solutions

that meet diverse customer needs

Commitment to Quality and Transparency in Real Estate Development

Eng Mina Maher, Board Member and General Manager of Squares Developments, emphasized

the company’s unwavering commitment to executing projects with the highest standards of

quality and transparency He confirmed that the company is working at full capacity to deliver

landmark developments that align with the Egyptian government’s urban growth plans

We are dedicated to providing real estate products that cater to the needs of various customer

segments while contributing to the overall development of the New Capital,” Eng Maher added

A Legacy of Success in Real Estate Development

Eng Talaat Gorgous brings over 40 years of extensive experience in real estate development

both in Kuwait and Egypt His successful career includes his leadership of House Building

Developments, a pioneering firm that has delivered a strong portfolio of projects in areas

like Nasr City and New Cairo