Daily News Egypt

Talaat Moustafa Group (TMG) has reinforced its position as the dominant player in Egypt’s North Coast real estate market, recording EGP 130bn in sales during 2025 and capturing approximately 38% of total sales across the region over the past two years, according to a report by The Board Consulting. The report highlighted the North Coast’s growing importance as one of Egypt’s most significant real estate growth engines. The region accounted for 36% of total real estate sales nationwide during 202

Talaat Moustafa Group (TMG) is emerging as the leading force in Egypt’s North Coast real estate market, not only in terms of sales performance but also through exceptional construction progress at its flagship SouthMED development, according to a recent report by The Board Consulting. The report highlighted that competition among developers in Egypt’s North Coast has evolved beyond sales figures, with construction progress, delivery timelines, and execution capabilities becoming increasingly dec

IQOS, the number 1 tobacco heating system1, announces the launch of its latest platform, “Electric Dreams,” an interactive experience spanning six weeks, targeting adult nicotine users. This initiative comes as part of the brand’s aim to create lifestyle experiences that reflects adventure and transforms curiosity into a unique reality that connects the digital world to spaces inside and outside Egypt. The platform supports a competition based on a series of digital challenges and missions anno

Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda), one of Egypt’s leading pharmaceutical manufacturers, has announced the appointment of Sharif Ahmed El Akhdar as non-executive Chairman of its Board of Directors, representing LVP Pharma. LVP Pharma, the investment vehicle of LimeVest, an Egypt- and Saudi-focused healthcare platform, holds an approximately 23.15% stake in Rameda. The appointment follows the completion of LVP Pharma’s strategic investment in the compa

Kuwait escalated its diplomatic response to Iran on Wednesday, expelling two Iranian diplomats and summoning the acting head of the Iranian embassy after attacks that Kuwait and Bahrain said targeted civilian and critical facilities. The incidents have drawn widespread Arab condemnation and heightened concerns over a broader escalation across the Gulf. Kuwait’s Ministry of Foreign Affairs said it had delivered a formal protest note to the Iranian chargé d’affaires over what it described as “cont

Egypt has condemned attacks targeting Bahrain and Kuwait, reaffirming its full solidarity with both countries and rejecting any actions that violate the sovereignty of Gulf states or threaten regional security and stability. In a statement issued on Wednesday, Egypt’s Ministry of Foreign Affairs strongly denounced Iranian attacks targeting the Kingdom of Bahrain, calling them a flagrant violation of the country’s sovereignty and a dangerous escalation that threatens the security and stability of

Egypt has disbursed EGP 42bn in early June pension payments to 10.2 million beneficiaries ahead of the Eid al-Adha holiday, following the official nationwide launch of its comprehensive digital social insurance system. Major General Gamal Awad, Chairman of the National Authority for Social Insurance, announced the figures during an evening meeting on Wednesday chaired by Prime Minister Mostafa Madbouly to review the system’s operational status between Feb. 24 and May 31, 2026. Minister of

Egypt’s mergers and acquisitions (M&A) market continues to demonstrate resilience and long-term investor confidence despite ongoing geopolitical uncertainty in the region, according to the Middle East M&A Market Analysis Q1 2026 released by Ansarada, an AI-powered virtual data room platform trained on more than 60,000 transactions. The report revealed that the Middle East recorded 196 announced deals valued at $23.3bn in Q1 2026, compared to 207 deals worth $31.3bn in the same period of

The Economic Concentration Review Committee at the Egyptian Competition Authority (ECA) has approved eight acquisition and investment transactions across a range of sectors, underscoring continued merger and acquisition activity involving international corporations and investment firms. Among the approved transactions is the acquisition by Kimberly-Clark Corporation of 100% of the shares of Kenvue, alongside Baker Hughes’ acquisition of 45,704,396 shares, representing 100% ownership of Chart Ind

Egypt has received fresh international recognition for the rapid development of its civil aviation sector and its growing ability to host major global aviation events, following the successful organization of the 38th IATA Ground Handling Conference (IGHC 2026) in Cairo from 19 to 21 May. Organized by the International Air Transport Association (IATA), the conference showcased Egypt’s emergence as a leading regional hub for international aviation gatherings and highlighted the country’s efforts

Prime Minister Mostafa Madbouly chaired a meeting Wednesday at the Government Headquarters in the New Administrative Capital to review ongoing efforts to maximize the utilization of companies and factories affiliated with the Ministry of Military Production. The meeting was attended by Minister of Electricity and Renewable Energy Mahmoud Esmat, Minister of Education and Technical Education Mohamed Abdel Latif, and Minister of State for Military Production Salah Gomblat. Opening the session, Madb

Egypt and Mauritania have explored opportunities to deepen bilateral cooperation in healthcare, with discussions focusing on medical training, pharmaceutical collaboration, preventive healthcare and medical tourism during a meeting between Egypt’s Minister of Health and Population, Khaled Abdel Ghaffar, and Mauritania’s Ambassador to Egypt, El Houssein Ould Sidi Abdallah. According to a statement from Egypt’s Ministry of Health and Population, Abdel Ghaffar reaffirmed Egypt’s commitment to stren

Egypt’s trade deficit widened by 48.8% year-on-year to $4.6bn in March 2026, compared with $3.1bn in the same month of 2025, according to the latest Monthly Foreign Trade Data bulletin issued by Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS). The increase came as exports declined while imports recorded strong growth during the month. Egypt’s exports fell by 2.5% to $4.6bn in March 2026, down from $4.8bn in the corresponding month of the previous year. The decline was driv

Ahmed Rostom, Egypt’s Minister of Planning and Economic Development, met with Andreas Schaal, Director for Global Relations and Cooperation at the Organisation for Economic Co-operation and Development (OECD), to discuss strengthening bilateral cooperation and launching the second phase of the Egypt-OECD country programme. The meeting took place on the sidelines of Rostom’s participation in the OECD Ministerial Council Meeting 2026, held in Paris under the theme “Shaping sound economic policies

Egyptian President Abdel Fattah Al-Sisi has reaffirmed that a comprehensive and just settlement of the Palestinian issue based on a two-state solution remains the only viable path to achieving lasting peace and stability in the Middle East. According to a statement issued by the Egyptian presidency, Al-Sisi met with a delegation from the Conference of Presidents of Major American Jewish Organizations, led by Chair Elizabeth Burns Korn and Chief Executive Officer William Daroff. The meeting was a

Tensions along the Lebanese-Israeli border escalated sharply on Tuesday as Israeli military operations continued in southern Lebanon and both Israel and Hezbollah exchanged threats, prompting intensified international diplomatic efforts to preserve the ceasefire and prevent a broader regional confrontation that could jeopardise ongoing negotiations between Iran and the United States. Lebanon’s Ministry of Public Health said the cumulative death toll from Israeli military operations since 2 March

The Ministry of Planning and Economic Development has unveiled the key features of Egypt’s Economic and Social Development Plan for fiscal year (FY) 2026/27, as well as the medium-term development framework covering the period from FY 2026/27 to FY 2029/30. The plan was presented during a meeting of the Financial, Economic Affairs and Investment Committee of the House of Representatives, chaired by Ahmed Abou Hashima, and aligns with Egypt Vision 2030 and presidential directives aimed at improvi

Egypt is studying a comprehensive plan to develop the Blue Hole diving site within the Abu Galum Protected Area in South Sinai while safeguarding its fragile marine ecosystem, according to the Ministry of Local Development and Environment. Minister of Local Development and Environment Manal Awad reviewed the proposed plan during a meeting with officials from the Arab Region and Europe Environment and Development Centre (CEDARE) and representatives of an environmental consultancy firm. Awad descr

Egypt’s Minister of Finance, Ahmed Kouchouk, said a new package of customs facilitation measures marks a further step towards simplifying procedures for the business community and reducing administrative burdens on economic operators, helping to enhance the competitiveness of the Egyptian economy, support trade flows, stimulate productive activity, and attract additional investment. In a statement issued on Tuesday, Kouchouk said the government is working to reduce documentation requirements and

The Central Bank of Egypt (CBE) announced that net foreign assets (NFAs) in Egypt’s banking sector rose to approximately $22.903bn, equivalent to EGP 1.229trn, in April 2026, up from $21.320bn, or EGP 1.164trn, in March. Net foreign assets are among the most important indicators of banking sector stability and resilience, reflecting the difference between foreign currency-denominated assets and liabilities held by the banking system. According to a report issued by the CBE on Tuesday, total fore