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MG Developments announced its acquisition of Ain Sokhna Hospitality Services Company

Posted on يناير 12, 2025 by Fatma abdelhamed

MG Developments announced its acquisition of Ain Sokhna Hospitality Services Company, a step that aligns with its plan to strengthen its presence in Ain Sokhna

.and expand its project portfolio in one of the most vital areas with strong client demand

Mohamed Metawee, Chairman of MG Developments, stated that this strategic move aims to enhance the company’s presence in the Ain Sokhna area

,and broaden its real estate project portfolio, especially after the remarkable success of its flagship project

.Blue Blue,” in Ain Sokhna, which bolstered its reputation as a distinguished real estate developer in the region”

Aya El-Shenawy, Executive Director of the Commercial Sector and Board Member, stated that this acquisition is expected to support MG Developments’ expansion plans.

The group intends to develop new projects on the land owned by Ain Sokhna Hospitality Services Company, aligning with its strategy to increase investments in the Egyptian real estate market.

El-Shenawy noted that the group is implementing an ambitious plan to expand its investment portfolio in Ain Sokhna, which also includes a new project in the North Abu Darag area with investments amounting to approximately EGP 1.5 billion.

The project is set to be announced soon. She emphasized that this acquisition represents a significant milestone in the company’s journey to achieve its expansion goals and strengthen its position in the Egyptian real estate market,

.particularly in coastal areas that are experiencing growing demand for residential and tourism projects

She added: “This step aligns with MG Developments’ strategy to deliver exceptional services in the hospitality and tourism sectors by developing integrated hotel projects that meet the needs of the growing market. The acquisition aims to enhance the quality of hospitality services provided, with a strong focus on achieving the highest standards of excellence.”

She revealed that plans are underway to develop a tourist resort with hotel services on the newly acquired land. Development and design studies are currently

being conducted in collaboration with renowned architect Yasser El Beltagy (YBA). The project is expected to be officially announced in 2025.

Samsung Expands ‘AI for All’ Vision at CES 2025 To Bring AI Everyday

Posted on يناير 8, 2025 by Fatma abdelhamed

Cairo – Jan. 8, 2025 – Samsung Electronics Co., Ltd. today unveiled its new “AI for All” vision at CES® 2025, with the focus of making AI an “Everyday, Everywhere” experience.

,Building on a decade of connected home leadership, Samsung is leveraging the power of AI to bring intelligence to every day

enabling people to experience a more personal, impactful and empowering world.

Jong-Hee (JH) Han, Vice Chairman, CEO and Head of Samsung’s Device eXperience (DX) Division, opened Samsung’s CES 2025 press conference by introducing the company’s roadmap for Home AI,

a plan for redefining the meaning of home by providing truly personalized services across all intelligent, connected devices. This strategy,

alongside Samsung’s innovations in AI-powered devices across mobile, home appliances and visual display, is a testament to Samsung’s longstanding commitment to human-centric innovation and brings the power of AI to everyday experiences to make life better for all.

“I’m proud of how we have introduced new technologies and intelligence to the home, connected key devices and set the standard for the home of the future,”

Vice Chairman Han said. “This year at CES, we are reinforcing our commitment to delivering personalized experiences through our widespread implementation

of AI and we will continue this journey of AI leadership in the home and beyond, not just for the next decade, but for the next century.”

Elevating Everyday Experiences With Home AI

Later in the press conference, Jonathan Gabrio, Head of the Connected Experience Center at Samsung Electronics America,

expanded on Samsung’s Home AI vision, underscoring the company’s commitment to integrating AI across the entire connected experience to cater to diverse lifestyles. From single person households to multi-generational families under one roof, Home AI learns from habits and adapts to individual routines for a hyper-personalized smart home experience.

Security and Privacy are at the heart of Samsung’s strategy for Home AI. Samsung recognizes that as users introduce more connected devices into their homes and AI becomes more personal, it must also protect users’ privacy. To meet these evolving needs, the company has extended its security capabilities. Now, Samsung Knox Matrix protects home appliances along with mobile devices and TVs with its signature blockchain technology, ensuring that connected devices are working together to protect the user’s home, data and each other from digital threats. With Knox Matrix Dashboard, a transparent privacy control, Samsung offers simplified security management across the entire connected home. As information syncs across devices, Knox Matrix’s Credential Sync ensures that data can only be encrypted or decrypted from the user’s devices, and Samsung Knox Vault adds another layer of protection, keeping sensitive information like passwords or PINs isolated in a secure location.

Samsung

Samsung’s One UI provides an integrated software experience across all connected Samsung devices, enhancing interoperability, empowering users with AI-based features and providing software updates for up to seven years.

Underpinning it all is SmartThings, Samsung’s smart home platform that brings intelligent connectivity to hundreds of millions of users around the world. With Samsung’s belief in open innovation and partnership as a foundation, SmartThings is being equipped with the latest AI technology to streamline and personalize the smart home experience for complete convenience. SmartThings Ambient Sensing intuitively understands the user’s environment and situational context by analyzing even human movements and ambient sounds through connected devices within the home, thereby enabling those devices to intelligently and seamlessly respond and adapt to daily routines.

Bixby Voice, an enhanced AI voice assistant, will be integrated to increase usability. The assistant has been trained so that it can recognize individual voices and respond to commands in a way that works best for each user.

Another way SmartThings simplifies everyday life is with Flex Connect, Samsung’s energy demand response program which incentivizes customers to enroll their devices with SmartThings and use SmartThings Energy. Users can decrease strain on local electricity grids and receive rewards in the form of Samsung Rewards points. In 2025, the program will be expanded from New York and California to select regions in Texas, helping address critical grid needs in the state.

These Home AI updates free up time previously spent on home management, allowing users to focus on what matters most and explore new passions. Samsung’s new Galaxy Book5 Pro and Galaxy Book5 360 are AI PCs built to boost productivity with Intel® Core™ Ultra Processors (Series 2) and enhance creativity with features like AI Select and Samsung Studio. AI Select works to make browsing a breeze, while Samsung Studio lets users edit across their Galaxy smartphone, tablet or PC wherever inspiration strikes, at home or on the go. Powered by the NPU, Photo Remaster upscales low-resolution photos into high-quality visuals, while Storage Share lets users directly access the files on their smartphone from their PC, avoiding the process of downloading.

With productivity comes proactivity, too. When AI and Samsung Health combine, users are empowered to take control of their health and wellness. With AI-driven health insights gathered on the Galaxy Ring and Galaxy Watch, Samsung is helping users make sense of their data and arrive at more informed decisions about their well-being. These new capabilities will further improve the overall experience of Samsung Health, which stands apart as an end-to-end health solution that integrates the entire home seamlessly.

Seamless Entertainment in the AI Era

Samsung’s latest screen experiences, powered by Samsung Vision AI, bring unexpected joy to users’ days through unparalleled personalization and exciting new features. The AI Screen experience infuses intelligence into TVs, bringing Generative Wallpaper, Live Translate and Click to Search to users. At the forefront of this technology is the Neo QLED 8K, which provides the most advanced viewing experiences though AI features like 8K AI Upscaling Pro, Auto HDR Remastering Pro and Color Booster Pro — all of which work behind the scenes to intelligently enhance picture quality. Plus, The Frame’s art experience is expanding, allowing all Samsung QLEDs to come with a digital collection of over 3,000 art pieces, making it so that they can turn any room into a personal gallery.

Samsung’s commitment to its Screens Everywhere strategy is reflected in new display options for its appliances, including its new refrigerators with 9″ AI Home displays and other devices with 7″ screens. Consumers will be able to enjoy heightened functionality — including various entertainment services, AI features such as AI Vision Inside and direct access to the online grocery service Instacart — on a broader range of products.

Taking AI Everywhere

Beyond the home, Samsung’s AI innovations are set to transform new categories and industries with SmartThings Pro. Created to bring the same AI-powered digital solutions to business partners as SmartThings offers consumers, SmartThings Pro is a B2B solution spanning multi-residential homes to retail spaces, hotels, schools and more. Since its launch last June, SmartThings Pro provides businesses with integrations to better understand energy usage, proactively identify devices with maintenance needs and offer comprehensive control of connected solutions. Samsung is working with partners to create an innovative platform, Future Innovation Technology (FIT), for larger businesses and buildings to set automated climate controls that save energy and reduce electricity costs.

The company is also working with Samsung Heavy Industries on a new SmartThings collaboration that uses the Matter connectivity standard to connect with compatible ships. SmartThings for Ships offers a Pre-Sailing Mode, which allows captains and crews to automate when the engine starts and turn on settings for temperature and lights, saving time and energy. Meanwhile, Care Mode provides a complete view of a ship’s power, AC systems and smoke alarms, while Protection Mode constantly monitors for — and will alert captain and crew to — any abnormal activity.

Additionally, Samsung is expanding its SmartThings and automotive integrations in a new partnership with Hyundai Motor Group to bring SmartThings to Hyundai EVs. With the expanded ecosystem, users can now use SmartThings Find to easily locate their parked car, even in crowded parking lots. With the power of Home AI, SmartThings can make recommendations on when to recharge EVs based on schedules and rates. And if there is a neighborhood power outage, it will automatically activate Battery Backup Mode, which works alongside AI Energy Mode to extend the battery energy to power home essentials.

In the Automotive space, Samsung and its subsidiary Harman continue their promise to transform the in-car experience with new products that bring contextual awareness into the cabin. Leveraging Samsung’s expertise in UX and AI, HARMAN’s new in-vehicle avatar acts as an intelligent digital copilot that works with Harman products like Ready Care and Ready Vision to anticipate needs while drivers focus on the road.

Empowering the Next Generation

Finally, Inhee Chung, Vice President of the Corporate Sustainability Center, underscored how Samsung’s AI for All vision is rooted in the brand’s commitment to harness the power of advanced technology for a better, more inclusive world.

Samsung is introducing diverse and enhanced accessibility features through its AI-powered devices and services, starting with the ability to automatically sync accessibility features across home appliances from a smartphone.

From the first half of this year, Bixby will automatically have connected devices display text in high contrast or provide a voice guide for family members with low vision, all by simply recognizing their voice. For those with low vision,

AI is improving Audio Subtitles by lowering foreign language audio and reading out the subtitles in the language of the user’s choosing.

Chung also discussed how initiatives like Samsung Solve for Tomorrow, Samsung Innovation Campus and the company’s work with the United Nations Development Programme (UNDP) are enabling the next generation of innovators.

Today, Samsung Solve for Tomorrow challenges more than 2.6 million students across 66 countries to use STEM to address challenges in their community.

In particular, during the Paris 2024 Olympic Games last year, Samsung and the International Olympic Committee (IOC) launched a digital community “Together for Tomorrow, Enabling People” and appointed top 10 teams from global Solve for Tomorrow as community ambassadors.

Meanwhile, Samsung Innovation Campus has helped prepare nearly 180,000 young people across 33 countries for the workforce through training on emerging technologies like AI, IoT and big data.

In a video message, Achim Steiner, UNDP Administrator, joined VP Chung to share an update on Samsung and UNDP’s partnership to harness the power of technology for good. Since its initiation five years ago,

the Samsung Global Goals app has raised over $20 million thanks to nearly 300 million users who are using a Galaxy smartphone, tablet or watch.

Plus, Samsung and UNDP’s joint work through the Generation17 initiative continues to inspire extraordinary young leaders around the world who are mobilizing their communities to advance the Global Goals.

.About Samsung Electronics Co., Ltd

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, home appliances, network systems, and memory, system LSI, foundry and LED solutions, and delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For the latest news, please visit the Samsung Newsroom at news.samsung.com.

Financial Soundness Indicators Reflect the Resilience of the Banking Sector

Posted on يناير 8, 2025 by Fatma abdelhamed

,The Financial Soundness Indicators have underscored the resilience and robustness of the banking sector as a key pillar

.supporting the state’s efforts to achieve economic, financial, and monetary stability

,This resilience is reflected in the banking sector’s ability to provide financing for various economic sectors

.contributing to the increase of Gross Domestic Product (GDP), and achieving high growth and investment rates, as well as creating job opportunities for all citizens

Additionally, the capital adequacy ratio reached 19.1% by the end of Q3 2024, marking an increase of 0.5%, compared to a minimum regulatory requirement of 12.5%.

.Regarding the asset quality, ratio of non-performing loans (NPLs) declined to 2.4% of total loans, with the provisions’ coverage ratio for NPLs reaching 87.4%

,Moreover, the indicators reflected the maintenance of high and stabilized liquidity rates in both local and foreign currencies, which recorded 32.1% and 77.7%

.respectively, compared to minimum regulatory requirement of 20% and 25%respectively. As for the loan-to-deposit ratio, it marked 61.3% by the end of Q3 2024

.These indicators confirmed the preservation of high profit margins, with a return on equity of 32.2%, by the end of FY2023

,In this regard, the financial resilience of the banking sector fosters banks’ ability to support the national economy

,maintained by the regulatory framework of the Central Bank of Egypt (CBE), which closely monitors the performance of all banks

.and ensures their adherence to international best practices in achieving financial stability

Huawei provides the Huawei WATCH D2 for accurate blood pressure measurement

Posted on يناير 7, 2025 by Fatma abdelhamed

.High blood pressure affects around a third of adults worldwide, making it a critical public health issue

Early detection and effective management of high blood pressure can significantly improve long-term health outcomes.

.HUAWEI is responding to these challenges with the launch of the HUAWEI WATCH D2, with price at EGP 22,999

The watch delivers advanced technology for continuous, non-invasive blood pressure monitoring in a compact

.and comfortable design, making it easier for people to integrate blood pressure monitoring into their daily routine

.HUAWEI WATCH D2 brings 24-hour blood pressure monitoring to users’ wrists

It uses an inflatable airbag to measure blood pressure at set intervals, with reminders during the day and automatic readings at night.

The watch supports various measurement scenarios, including standing, sitting, or reclining during the day, and performs automatic measurements during sleep.

Ambulatory blood pressure measurement (ABPM) is the gold standard for diagnosing and managing hypertension, and is recommended by major health guidelines.

The HUAWEI WATCH D2 supports blood pressure measurements in various modes, including standing, sitting, and lying down, giving users the ability to comprehensively monitor their health.

.The HUAWEI WATCH D2 boasts a number of important features that make it an ideal choice for users

The Health Glance quick health check feature allows users to measure their blood pressure at any time, enhancing health awareness and helping to continuously monitor their health status.

.The watch has a lightweight and stylish design, making it comfortable to wear all day long

.Additionally, the watch offers social and home healthcare features, helping to improve a healthy lifestyle

The watch also supports a wide range of operating systems, including iOS and Android, meaning it can be easily used with most smartphones. Finally, the watch offers multiple smart features that support modern lifestyles, making it a valuable addition to any tech gadget collection.

The HUAWEI WATCH D2 allows users to measure physical indicators, including heart rate, blood pressure, and blood oxygen. Thanks to the new TruSense system, the watch provides high-precision vital sign monitoring, helping users better manage their health.

HUAWEI WATCH D2 is now available for purchase through HUAWEI’s online store and selected distributors at price EGP 22,999 through https://consumer.huawei.com/eg/offer/wearables/watch-d2-buy/ . Seize the opportunity today and start your journey towards smarter health management.

Dell Technologies Expands AI Innovations at the Edge

Posted on يناير 6, 2025 by aberabozaher

Dell Technologies Expands AI Innovations at the Edge
Dell NativeEdge software provides secure, high-availability clustering capability for NativeEdge Endpoints to boost edge workload resiliency

Dell Technologies

From retail stores to factory floors, Dell NativeEdge AI innovations simplify operations and automate AI deployments

at scale across a diverse range of edge environments
Dell Technologies announces advancements to its Dell NativeEdge edge operations software platform to simplify how organizations can deploy, scale and use AI at the edge.

Why it matters:
According to Gartner®, “by 2025, more than 50% of enterprise-managed data will be created and processed outside the data center or cloud.”1 As organizations increasingly move data toward the edge and AI accelerates new edge workloads, the demand is rising for agile, connected and secure systems to deploy and manage AI models across multiple edge locations.

Today’s Dell NativeEdge advancements, part of our Dell AI Factory capabilities, address these needs and offer organizations AI software integrations and high-availability (HA) capabilities to provide more resiliency and reliability in the deployment and management of AI at the edge.

Boost Edge and AI Workload Efficiency with NativeEdge
Dell NativeEdge is the industry’s only edge operations software platform delivering secure device onboarding at scale, remote management and multicloud application orchestration2. NativeEdge software now enables multinode high-availability (HA) clustering for NativeEdge Endpoints, such as Dell PowerEdge servers, OptiPlex and Precision workstations and Dell Gateways.

The endpoints can be clustered, or grouped together by NativeEdge software to act like a single system, so organizations can:
Provide high-availability capabilities to maintain critical business processes and edge AI workloads, despite network disruptions or device failures. Virtual machine (VM) migration and automatic application, compute and storage failover provide organizations increased reliability and continuous operations.

Easily adapt to changing workload demands across diverse environments, from retail stores to utility companies.
Integrate NativeEdge Endpoints with external storage solutions, such as Dell PowerStore and Dell PowerVault, to support the training and deployment of AI models with the versatility of single, two-tier or three-tier solutions at the edge.

NativeEdge AI Software Integrations Simplify Edge AI Deployments
Organizations implementing AI inferencing at the edge may find it tedious and time consuming to deploy AI applications and solutions across hundreds, if not thousands, of edge locations. Dell offers a comprehensive catalog of more than 55 pre-built Dell NativeEdge Blueprints that automate the deployment of an organization’s choice of AI applications and frameworks for faster time to value. The NativeEdge Blueprints provide customers an easy button to assemble and deploy new use cases and AI inferencing capabilities at the edge, while reducing manual set up time and errors.
Dell is expanding the catalog to include:

Open-source tools, such as Apache Spark™, Apache Airflow®, MLflow, and Grafana, to support continuous MLOps workflows tailored for edge use cases, for quick and efficient deployment of AI-enhanced solutions.
Aveva Unified Operations Center, to facilitate city infrastructure modernization in integrated operations, building systems, master planning, intelligent urban mobility and critical connectivity.
EPIC iO, which uses real-time analytics for retail operations to enhance the in-store shopper experience.

Dell Data Collector, to collect and transfer data from sensors and IoT devices to various locations in near real-time with. Organizations can use Dell Data Lakehouse to query the data for real-time insights and AI workloads.

The Intel® Geti™ software solution, to accelerate the development of computer vision AI models at the edge.
Updates to the NVIDIA AI Enterprise software platform, which includes NVIDIA NIM microservices, enable developers to more efficiently and securely deploy AI inferencing capabilities at the edge, while reducing manual setup time and minimizing errors.

Dell Services for NativeEdge Blueprints help organizations design and develop custom NativeEdge Blueprints for Dell validated and customer-owned applications, providing seamless deployment using Dell NativeEdge software.

Perspectives
“AI is accelerating new edge workloads and opportunities at an unprecedented rate, and organizations across industries are asking for simpler and more reliable ways to use AI at the edge,” said Gil Shneorson, senior vice president, solutions and platforms, Dell Technologies. “Our NativeEdge expansion automates the deployment and management of edge AI workloads, with features to support business continuity, so organizations can continually use the latest AI advancements at the edge to drive revenues and positive customer outcomes.”

“With over 1,000 IoT-enabled facilities, Dell NativeEdge helps us monitor real-time infrastructure elements, ensuring optimal conditions for our produce, and receive comprehensive insights into our produce packaging operations,” said Keith Bradley, vice president, Information Technology, Nature Fresh Farms. “Dell NativeEdge has enhanced our operational efficiencies and reduced costs, while supporting our continued growth and innovation in yield optimization and environmental monitoring.”

1Gartner, Hyperscalers Stretching to the Digital Edge, Tom Bittman, July 24, 2023. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

2 Dell Technologies internal analysis, May 2024.

“Apache” is a registered trademark or trademark of the Apache Software Foundation in the United States and/or other countries.

MPC decides to keep key policy rates unchanged; extends inflation target horizons

Posted on ديسمبر 27, 2024 by aberabozaher

MPC decides to keep key policy rates unchanged; extends inflation target horizons

Cairo, Egypt — In its meeting today, the Central Bank of Egypt’s Monetary Policy Committee (MPC) decided to keep the CBE’s overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 27.25 percent, 28.25 percent, and 27.75 percent, respectively. The Committee also kept the discount rate unchanged at 27.75 percent. The meeting also decided to extend the inflation target horizons to Q4 2026 and Q4 2028 at 7 percent (± 2 p.p.) and 5 percent (± 2 p.p.) on average, respectively, in line with CBE’s gradual advance towards implementing a fully-fledged inflation targeting regime.

MPC

Globally, central banks in advanced and emerging market economies continued to gradually cut their policy rates as inflation moderates, while maintaining a restrictive stance to ensure convergence to target levels. Economic growth is broadly stable, with the current pace expected to continue over the medium term, yet still below pre-pandemic levels. However, the outlook is subject to downside risks, including the dampening effect of monetary tightening on economic activity, heightened geopolitical tensions, and the resurgence of protectionism. Furthermore, global commodity prices have recently exhibited minimal volatility, with forecasts suggesting a potential decline, especially in energy prices. Nonetheless, upside risks to inflation remain, such as disruptions to global trade and the adverse effects of extreme weather events on agricultural production.

Domestically, leading indicators for Q3 and Q4 2024 signal continued recovery in economic activity, with estimates indicating that real GDP growth has accelerated compared to Q2 2024. Nonetheless, real GDP remains below its potential, supporting the forecasted decline in inflation throughout 2025, and is projected to realize its full potential by end of FY 2025/26. With regards to the wage channel, inflationary pressures continue to be subdued, as real wage growth remains contained.

Following three months of broad stability, annual headline inflation eased in November 2024 to 25.5 percent, mainly driven by a decline in food prices, with volatile and core food prices recording their lowest annual inflation in almost two years at 24.6 percent. Conversely, administered prices of non-food items, including fuel products, inland transportation, and tobacco products increased in line with the revenue mobilization strategy aimed at curbing the fiscal deficit. Accordingly, annual core inflation declined to 23.7 percent in November 2024 against 24.4 percent in October 2024. These outturns, along with the improvement in inflation expectations that reflected in the gradual normalization of monthly inflation dynamics, suggest that inflation will continue its downward course.

Following a surge in global inflation for more than two years, inflation in advanced and emerging economies started to moderate, yet remains above target levels. Egypt has not been an exception, with headline inflation declining recently, and is expected to average around 26 percent in Q4 2024, missing the CBE target range of 7 percent (± 2 p.p.). This can be attributed to a combination of domestic and global economic factors throughout 2022-2024, namely (1) the build-up of external imbalances, fueled by a surge in global food prices throughout 2021, imported inflation, and sizeable portfolio outflows following the outbreak of the Russo-Ukrainian conflict, (2) domestic supply shocks arising from market distortions and unanchored inflation expectations, and more recently (3) fiscal consolidation measures aimed at tightening the fiscal stance and placing debt on a downward trajectory. These developments, along with exchange rate depreciation, drove inflation above the target range, with annual headline inflation peaking at 38.0 percent in September 2023, before declining to 25.5 percent in November 2024.

MPC

Starting March 2024, the CBE implemented a number of corrective measures aimed at restoring macroeconomic stability, which succeeded in containing inflationary pressures and bringing down overall inflation. These measures include the CBE’s significant tightening of monetary policy as well as the unification of the foreign exchange market that helped anchor inflation expectations and attract sizable foreign exchange inflows. Nevertheless, risks to the outlook include possible escalation of geopolitical tensions, resurgence of protectionism, and higher-than-anticipated passthrough of fiscal measures. Looking ahead, inflation is projected to ease substantially in 2025, as the cumulative impact of monetary policy tightening and favorable base effect materializes, with a notable decline in Q1 2025 and convergence to single digits by H2 2026.

Considering inflation dynamics, the MPC deems the deferment of the previous targets as appropriate, extending the target horizons to Q4 2026 and Q4 2028 at 7 percent (± 2 p.p.) and 5 percent (± 2 p.p.) on average, respectively. The deferment will allow for more room to weather price shocks without requiring further stringent monetary tightening, thereby avoiding substantial slowdown in economic activity.

In view of the above, the Committee judges that the current policy rates remain appropriate to maintain a tight monetary stance until a significant and sustained decline in inflation is achieved, and expectations are firmly anchored. The Committee’s decisions regarding the duration and extent of policy restrictiveness will be made on a meeting-by-meeting basis. Such decisions will continue to be outlook dependent, responsive to data developments, and sensitive to the prevailing balance of risks. The MPC will continue to monitor economic and financial developments, and will not hesitate to utilize all tools at its disposal to steer inflation to target levels through containing demand-side pressures and second-round effects emanating from supply shocks.

Monetary Policy Sector
[email protected]

To download the press release, click here

Zakat and Charities Fund Announces the Arrival of the First Batch of the 8th Relief Convoy to Khan Yunis, Southern Gaza Strip

Posted on ديسمبر 25, 2024 by aberabozaher

Zakat and Charities Fund Announces the Arrival of the First Batch of the 8th Relief Convoy to Khan Yunis, Southern Gaza Strip

Under the Guidance of the Grand Imam of Al-Azhar and as part of the International Aid Gaza Campaign,
Zakat and Charities Fund,” under the supervision of HE Professor Ahmad At-Tayyeb, Grand Imam of Al-Azhar, has announced the arrival of the first batch of the 8th relief convoy to Khan Yunis, located in the southern Gaza Strip. This initiative is part of the international Aid Gaza campaign, under the slogan “Strive through Your Wealth … Support Palestine.

Zakat and Charities

” The convoy consists of 20 massive trucks carrying approximately 500 tons of urgent relief supplies, including food, clean water, blankets, quilts, medicines, and medical supplies. This is part of a total of 100 massive trucks that will sequentially reach our brothers and sisters in Palestine.

In a statement issued today, Wednesday, December 25, 2024, Zakat ana Charities Fund explained that the relief convoy included hundreds of tons of aid, with the participation of popular delegations from 85 countries worldwide. This response comes in response to the call made by HE Professor At-Tayyeb, who urged the continuous provision of relief and humanitarian support to our fellow people in Gaza, who are facing tragic conditions due to the brutal Israeli aggression and the severe blockade since October 7, 2023.

This aggression has resulted in significant human and material losses, targeting civilians and infrastructure, including UN facilities and staff, causing the displacement of more than 1.9 million Palestinians and aggravating the suffering of the population, with the prevention of humanitarian aid access.

Zakat and Charities Fund confirmed that the aid has already been delivered to the competent authorities in Gaza for distribution to the families most affected by the Israeli blockade and aggression. These efforts are part of ongoing support for the Palestinian people and the enhancement of humanitarian response, ensuring the provision of essential needs to the affected population.

• Continuous Humanitarian Efforts
The 8th relief convoy is part of a series of convoys launched by Zakat and Charities Fund, which has delivered more than 7840 tons of aid since October 7, 2023, with the support of the Egyptian political leadership and in coordination with the relevant authorities. The statement pointed out that the convoy carries a message of solidarity and support for the Palestinian people, in line with the directives of HE the Grand Imam, embodying the saying of Prophet Muhammad (pbuh), “The believer to another believer is like a building whose different parts enforce each other.”

Maqam Misr launches its latest project, Q CLINICS medical complex in a Prime Location at New Capital

Posted on ديسمبر 25, 2024 by aberabozaher

Maqam Misr launches its latest project, Q CLINICS medical complex in a Prime Location at New Capital

Maqam Misr debuts its latest project, Q CLINICS, at New Capital with EGP 1.2bn investments

Maqam Misr introduces its third project in New Capital and prepares to announce its fourth in early 2025

Maqam Misr plans to expand its project portfolio at New Capital to four projects by Q1 2025

Maqam Misr

With a firm belief in the significance of New Administrative Capital (NAC) and a strategy aligned with the state’s developmental plans, Maqam Misr Developments has unveiled its third project in the NAC, Q CLINICS, with an investment of EGP 1.2bn. This specialized medical investment project, the first of its kind in its area, marks a new milestone in the company’s ongoing success in the New Administrative Capital.

Eng. Al-Saeed Shaaban, Chairman of Maqam Misr Developments, announced that the Q CLINICS project covers a total area of 3,000 sqm. Strategically located in the NAC’s MU7 district, directly opposite the Central Business District (CBD) of the New Capital, the project boasts a prime location.

This specialized medical development offers clinics in various sizes, starting from 40 sqm, alongside commercial spaces designed to complement its healthcare focus. The company has appointed YBA – Yasser Al Beltagy Architects as the project’s consultant.

During the company’s conference, Shaaban said that effective management is a key success factor for any project and essential for preserving its investment value. Therefore, from the very first day of the project, the Emirati Eltizam Group, one of the leading global management firms, was selected to oversee the project’s operations.
He noted that excavation work has already begun, with the project set to officially launch for customers in mid-January.
He further highlighted that Maqam Misr has successfully established a leading role and a distinctive real estate presence in the New Capital within just two years of its inception. The company has acquired four plots of land in the NAC and launched three projects with varying stages of execution. Additionally, Maqam Misr plans to launch its fourth project during the first quarter of 2025.

He stressed his confidence in the New Capital as a promising national project characterized by its strategic location and the government’s determination to make it a landmark in the region. This confidence encouraged him to invest in projects in the New Capital as early as 2017, initially through partnerships with other investors, and later through independent projects under Maqam Misr.

He highlighted that Maqam Misr’s consistent success across its projects has strengthened client trust and increased their willingness to invest further with the company. By delivering exceptional quality in its developments and collaborating with leading partners across various fields, the company has built a solid reputation for reliability and credibility.

He disclosed that a cooperation agreement was signed with YBA – Yasser Al Beltagy Architects to act as the consultant for all of the company’s projects. This partnership is based on YBA’s strong portfolio of designing prominent projects both within and outside Egypt. This collaboration reflects Maqam Misr’s commitment to delivering high-quality real estate projects with innovative designs that meet client aspirations.

He added that this collaboration marks a strategic step toward enhancing the company’s vision of delivering modern real estate projects aligned with global standards, reflecting Maqam Misr’s commitment to adding value to the Egyptian real estate market.

Regarding the company’s expansion plans, Eng. Ahmed Al-Saeed Shaaban, the company’s CEO, stated that Maqam Misr aims to expand both locally and internationally. Domestically, the company plans to invest in a fourth project in the New Administrative Capital, a project in Sheikh Zayed, and another in the Delta region. Internationally, the company is set to expand into Saudi Arabia.
He revealed that a new company was established in Saudi Arabia a year ago, focusing on developing residential projects in the Kingdom.

He added that Maqam Misr has an ambitious expansion strategy built on its success in launching and implementing three prominent projects, as well as its strong expertise and financial solvency.

He added that the company’s expansion plan to launch new projects coincides with the progress in construction across its existing projects. The foundations and first basement level of the East Tower5 project have been completed. This project spans over 3,585 sqm in the Downtown area of the New Capital. It is located on a main axis with a width of 75 meters and overlooks an open garden of 28,000 sqm. The ground floor features commercial units and a restaurant area, while the first floor houses a Food Court. The project is planned for delivery by the end of 2026.

“Excavation works are also underway for the company’s second project, QEAST, which has already completed its foundational work. This project covers an area of 3,380 sqm, is located on a 75-meter-wide street along the eastern axis in Downtown, and directly overlooks a 28,000 sqm garden,” Shaaban said. “Excavation for the third project, which is currently being launched, has also been completed, while designs are being prepared for the fourth project, scheduled for launch in the first quarter of 2025. This reflects the company’s seriousness in investment and its ability to balance marketing and execution plans, alongside taking strong steps in its expansion strategy.

Eng. Yasser El Beltagy, Head of YBA, said,”We are proud to collaborate with Maqam Misr on all of its upcoming projects.

Through this partnership, we aim to provide innovative designs and engineering solutions that reflect our commitment to quality and excellence. Maqam Misr has an ambitious vision for expansion and developing real estate projects that leave a clear mark on the Egyptian market. At YBA, we believe that this collaboration will result in projects that meet international standards and fulfill customer expectations.”

Al Beltagy stated that the accumulated experience of YBA, along with its previous work on prominent projects both inside and outside Egypt, supports its plans to make a real contribution that meets market needs and enhances Maqam Misr’s position as a leading company in the real estate sector.

He highlighted the importance of providing elements that strengthen the competitive advantages of the company’s projects.

Galaxy… The First Step Towards True AI Companion

Posted on ديسمبر 25, 2024 by aberabozaher

Galaxy… The First Step Towards True AI Companion

In the era of mobile AI, the freedom to focus on what matters most to users isn’t a dream, it’s reality — and it’s coming soon to Galaxy devices. A few weeks ago, Samsung Electronics launched the One UI 7 beta program. It marked the start of a new era with the first AI-integrated operating system, a true AI platform that vastly improves mobile experiences for users through unprecedented personalization.

Galaxy

Galaxy’s approach to AI personalization prioritizes both privacy and the protection of personal information. Samsung Electronics understands that users have diverse needs based on their lifestyles. Accordingly, the company focuses on launching AI-powered mobile devices tailored to these individual preferences, ensuring there is no compromise on privacy or the risk of misuse of personal data.

In anticipation of the next standard-setting Galaxy S series smartphones, Samsung Electronics is giving Galaxy users greater peace of mind alongside greater personalization. That’s why the company has created the Personal Data Engine, a powerful privacy advancement that ensures on-device, cross-app personal data protection.

Personalized data is stored in a secure space, carefully safeguarded by an encryption key that’s managed by Knox Vault. That’s the same trusted platform used to secure the most sensitive information on smartphones, such as users’ biometric data. And as an added layer of protection, post-quantum cryptography (PQC) future-proofs the security of users’ data against rising quantum computing threats.

One defining element of One UI 7 is Now Bar, which gives personalization a new meaning by seamlessly integrating users’ everyday actions and most-used apps into their lock screen. It’s where users control their entertainment, time their next personal best workout, get directions to their next meeting or start communicating in other languages.

Users traveling long distances, such as from Seoul, Korea, to San Jose, California, can rely on their Galaxy devices for seamless support throughout their journey. While packing, the device prompts the creation of a quick-access apps folder for convenience, reminds users of their flight time, and even provides a curated travel playlist tailored to enhance the mood during the long flight.

With a single swipe, users can access the weather forecast — no need to search or check various apps. Throughout their trips, they will be able to capture the magic of each moment, and as each day winds down, they can relive the highlights.

Morning and night, Galaxy AI will keep users both informed and inspired with actionable tips and recommendations uniquely tailored to their life. Game-changing personalization with privacy users can always trust.

TOREC and Jumla Market enter into an agreement to open the first hypermarket in New Alamein, which will run for a full year.

Posted on ديسمبر 25, 2024 by aberabozaher

TOREC and Jumla Market enter into an agreement to open the first hypermarket in New Alamein, which will run for a full year.

The construction firm “TOREC DEVELOPMENTS,” one of the businesses of the New Urban Communities Authority, signed a 450 million-pound contract with the “Jumla Market” chain to open a branch in the heritage city of New Alamein in order to implement the directives of the Minister of Housing, Utilities, and Urban Communities, Eng. Sherif El-Sherbiny, to swiftly operate and provide services that ensure that New Alamein City operates throughout the year for 12 months.

TOREC

The contract comes as a confirmation of the serious steps taken by the New Urban Communities Authority to implement the development plan for the Northwest Coast.

The signing ceremony of the contract between TOREC Real Estate Development Company and Jumla Market was attended by Counselor Rady Rady, Chairman of the Board of Directors of the construction company “TOREC DEVELOPMENTS”, Eng. Mohamed Anwar, CEO of the company, Eng. Ahmed Ibrahim, Chairman of the New Alamein City Authority, and Mr. Hamdy Fathallah, Partner and Member of the Board of Directors of Gomla Market.

Eng. Mohamed Anwar, CEO of TOREC DEVELOPMENTS, said that the New Urban Communities Authority has

assigned the company the task of marketing a number of buildings and shops in the heritage city in New Alamein. The company immediately conducted studies and adopted innovative marketing mechanisms to attract major brands that achieve the authority’s goals of raising the added value of the region and achieving the highest returns.

He explained that the contract with Jumla Market is the first in a series of contracts that will be concluded with major brands during the next phase.

He continued, “Under the contract, Jumla Market obtained a building with an area of 5,200 square meters, and it is scheduled to open based on the directives of His Excellency the Minister of Housing before the start of the summer season of 2025, i.e. during the month of May, and it will operate throughout the year for 12 months.” Eng. Ahmed Ibrahim, Chairman of the New Alamein City Authority, said that The contract highlights the Authority’s desire to provide all facilities and streamline procedures for serious investors to expedite the start of investment activities, as well as the Minister of Housing’s directives to provide the highest level of strategic services that contribute to the North Coast operating throughout the 12 months.

He went on to say that the Jumla Market chain is one of the well-known Egyptian business chains that stands out for offering the highest quality and most competitive pricing for all of the needs and demands of Egyptian households.
He clarified that the heritage city’s neighborhood around the Jumla Market branch is distinguished by the presence of green areas, traffic lanes, and parking spaces that can hold over 2,500 vehicles.

For his part, Mr. Hamdi Fathallah, a member of the Jumla Market Board of Directors, expressed his happiness at the opening of the latest branches of the Jumla Market chain in New Alamein City, which is one of the most important major projects implemented by the state in recent years.
He praised the easy procedures provided by the Authority, which reflect the directives of the Minister of Housing to quickly complete procedures for investors and provide all means to start investment activity quickly.

He explained that the branch is the fifth for Jumla Market on the North Coast, and the new branch, like all branches of the chain, will provide all the needs of the home and family, and the distinguished location of the Jumla Market branch in New Alamein City will ensure the provision of services to customers on the North Coast as a whole.

He revealed that the total investments that will be pumped into the construction of the Jumla Market branch in New Alamein City are about EGP500m.

Al-Taamir Real Estate Development Company is responsible for developing and marketing major projects for the New Urban Communities Authority.

TOREC DEVELOPMENTS was established in 2015 under the name “TOREC DEVELOPMENTS – First Real Estate Development” with a shareholder structure consisting of the “New Urban Communities Authority” and “First Real Estate Finance Company”, in addition to “Bank Misr Iran”, “Med Bank”, “Holding Company for Investment and Development”, “Misr Insurance” and “Misr Life Insurance”. The company was established with a capital of EGP5 million pounds, which was raised in a short time to 50 million pounds, then to 124 million pounds in 2018.

With the beginning of 2021, it took a new path towards expanding in the Egyptian market and working on diversifying its activity, to include real estate development in addition to marketing the projects of the New Urban Communities Authority.

The company’s ambition to grow and develop led to the appointment of a new executive management team in August 2021, with Engineer Mohamed Anwar Hilal selected as the executive director. In 2022, the company’s capital was increased to 500 million pounds, and the New Urban Communities Authority decided to increase its ownership of the business to roughly 67% of the entire shares.

Egypt and DXC Luxoft Empower Automotive Software Talent for Global Industry

Posted on ديسمبر 24, 2024 by aberabozaher

Egypt and DXC Luxoft Empower Automotive Software Talent for Global Industry

Under the Patronage of Egypt’s ICT Minister, ITIDA, ITI, and DXC Luxoft Graduate Middle East’s First Certified Android Automotive Engineers

Cairo, Egypt – Thursday, December 19, 2024 – As the automotive industry shifts toward software-defined vehicles, with major brands adopting Android Automotive, the demand for skilled professionals is escalating. Despite limited training programs in this niche across the MEA region, Egypt has emerged as a leader.

Egypt

In collaboration with DXC Luxoft, ITIDA, and the Information Technology Institute (ITI), Egypt has launched the first specialized Android Automotive training program in the region, certifying its first cohort of professionals.

This initiative underscores Egypt’s position as a key player in bridging the regional talent gap in automotive software. By aligning with global trends, Egypt is not only addressing industry demands but also reinforcing its status as a regional hub for high-value tech talent, prepared to lead in one of the world’s most advanced technology sectors.

A Program Driving Impact

Launched in July 2024, the Android Automotive Training Program is designed to equip a new generation of engineers for the rapidly evolving automotive software industry. With 28 graduates now certified and employed at DXC Luxoft, the program highlights the impact of public-private partnerships in fostering innovation and creating job opportunities.

The six-month program covers essential skills such as Linux, C++, Kotlin, Cybersecurity, and platform integration, providing participants with specialized expertise in Android Auto and Android Automotive OS. This initiative not only develops local expertise but also addresses the global need for skilled automotive software professionals.

Egypt’s Strategic Advantage

At the graduation ceremony, Dr. Amr Talaat, Egypt’s Minister of Communications and Information Technology, emphasized the program’s alignment with Egypt’s broader strategy to empower its youth with future-ready skills.

“This initiative reflects our commitment to nurturing Egypt’s digital talent and strengthening our position as a global hub for high-value services in automotive software and beyond. By meeting global industry needs, we are enabling Egyptian youth to secure premium job opportunities while contributing to economic growth,” said Talaat.

The event was attended by senior leaders, including Mr. Loth G. Mauch, Executive Vice President of Luxoft, Dr. Michael Dinkel, Senior Vice President of Automotive Engineering, and Eng. Amr Taher, Managing Director of Luxoft Egypt, among others.

Egypt as a Magnet for Global Talent and Investment

DXC Luxoft’s decision to anchor its Android Automotive operations in Egypt reflects the country’s growing appeal. With a dynamic, multilingual workforce and over 730,000 university graduates annually—many specializing in IT and engineering—Egypt offers a vast pool of talent at competitive costs. The country’s proximity to Europe also makes it an ideal location for global tech companies seeking scalable innovation.

Government Support and Visionary Leadership

Egypt’s success in attracting global tech companies like DXC Luxoft is driven by strong government support and strategic initiatives. ITIDA plays a pivotal role in aligning talent development with industry needs, enabling businesses to scale while ensuring access to a highly skilled workforce.

“The automotive software industry is undergoing a significant transformation. By tailoring programs like this, we are not only meeting industry demands but also positioning Egypt as a leader in this transformative field,” said Eng. Ahmed El Zaher, CEO of ITIDA.

From Software to Security: Egypt’s Growing Tech Ecosystem

Beyond automotive software, Luxoft’s operations in Egypt extend to cybersecurity testing and compliance. Certified by TÜV SÜD for Cybersecurity Management Systems (CSMS), Luxoft’s Cairo office is a center for advanced data protection and compliance solutions.

“We are proud to celebrate the graduation of a cohort of talented engineers who have excelled in the Android Automotive training program. Their success marks a milestone for Luxoft Egypt as we continue to build a hub for innovation,” said Eng. Amr Taher, Managing Director of Luxoft Egypt.

A Catalyst for Growth and Investment

The success of the Android Automotive Training Program showcases Egypt’s potential as a global tech leader. By continuously nurturing talent and attracting strategic investments, Egypt is solidifying its position as a key player in the global technology landscape, driving growth in sectors like embedded systems, IC design, automotive software, and cybersecurity.

Automotive software and future mobility solutions in Egypt have seen unprecedented growth, fueled by rising investment from global IC design and embedded systems companies. This surge is driven by Egypt’s abundant pool of skilled software developers and engineering professionals, placing the country at the forefront of the global talent race in the high-tech sector.

Additionally, local companies in these highly specialized fields have achieved significant success, securing business contracts with major global players and leading automakers, solidifying Egypt’s position as a competitive hub for automotive technology and innovation.

A New Era in Digital Content Creation: Egypt’s Top Industry Leaders Launch the “Content Player Awards”

Posted on ديسمبر 24, 2024 by aberabozaher

A New Era in Digital Content Creation: Egypt’s Top Industry Leaders Launch the “Content Player Awards”

Cairo, Egypt, A groundbreaking initiative is set to revolutionize the digital content landscape as the Content Player Awards (CPA) launches in April 2025. This trailblazing event aims to celebrate and advance the digital content industry, ushering in a new era for creators, brands, and media leaders across Egypt and the Middle East.

A New Era in Digital Content Creation

The CPA is a collaboration between three powerhouse organizations, each bringing distinct expertise:
• Tayarah: Egypt’s pioneering content hub, renowned for fostering creativity and innovation among content creators in the region.

• Ievents: The masterminds behind iconic events such as the Gouna Film Festival (GFF) and the Egypt Entrepreneurship Awards (EEA), ensuring that the CPA is immersive and impactful.
• DigiSay Group: The region’s leading digital media group, leveraging global expertise and platform access to amplify the CPA’s reach.

The CPA kicks off with “The Playground”, a two-day interactive event featuring workshops, panel discussions, and networking opportunities. This dynamic forum will showcase cutting-edge tools in digital content creation while fostering collaboration and innovation among participants.

The celebration will culminate in the Content Player Awards Ceremony, where the region’s top content creators, brands, and influencers will be honored for their contributions to digital storytelling. Industry leaders, media professionals, and celebrities will gather to recognize the power of content in shaping the future.

Stay tuned for further updates by following CPA’s official social media channels.