INSEAD Day 4 - 728x90

Cairo

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.
  • Gaza situation approaching humanity’s ‘darkest hour’, says WHO

    Richard Peeperkorn, the WHO's representative in the occupied Palestinian territories, said that since the start of the war, there had been 120,000 acute respiratory infections; close to 26,000 people with scabies and lice; 86,000 cases of diarrhea, including 44,000 among children aged under five, which he said was 20 to...
  • Beltone 9M net profit at $2.7m

    In 9M, the firm's restructuring led to a turnaround.
  • Fishing nations pledge to protect sharks, rays

    CAIRO, EGYPT -  Atlantic fishing nations have agreed to better protect sharks and rays by limiting the retention of several bycatch species, but advocacy groups warn progress is still lagging. At the conclusion of the International Commission for the Conservation of Atlantic Tunas (ICCAT) this week, countries agreed on "new measures...
  • EU chief says union against ‘forced displacement’ of Palestinians

    Cairo, Egypt - European Commission President Ursula von der Leyen on Saturday said she was opposed to the "forced displacement of Palestinians" during a meeting in Cairo with Egyptian President Abdel Fattah al-Sisi. Von der Leyen "thanked Egypt for its key role in providing and facilitating humanitarian aid to vulnerable Palestinians",...
  • Egypt and Qatar to discuss ceasefire efforts in Gaza

    The high-level meeting in Cairo comes ahead of Saturday's summits in Saudi Arabia, where Arab and Muslim leaders are expected to press for an end to more than a month of fighting.
  • 7,000 Palestinians killed in 20 days of Israeli bombardments: Ministry

    Hamas released a list of around 7,000 names of people in Gaza it said had been killed in Israeli strikes. The list was produced a day after US President Joe Biden said he had "no confidence" in the militant group's death toll figures. Israel says 1,400 people were killed in...
  • Premises of two Gaza hospitals shelled by Israel: report

    Cairo, Israel - The areas near Al-Shifa Hospital in Gaza City and Al-Quds Hospital in the western part of the Gaza Strip have been shelled by Israel's air force, Palestine's WAFA news agency reported, according to Russia's TASS news agency. WAFA said that the strikes aimed to hinder the operations...
  • Thousands rally in support of Gaza across Egypt, says media

    CAIRO, EGYPT – Tens of thousands of protesters rallied across Egypt in support of war-torn Gaza on Friday, with large crowds flooding into Cairo's iconic Tahrir Square, an AFP correspondent and Egyptian media said. The correspondent said several thousand packed into Tahrir Square, the epicenter of the 2011 uprising that toppled...
  • WHO says only 24 hours for aid to enter Gaza before catastrophe

    If aid is not allowed into the besieged territory, doctors will have to "prepare death certificates for their patients," WHO regional director for the eastern Mediterranean, Ahmed al-Mandhari told AFP. Monday marked 10 days of relentless Israeli air strikes on targets in the Palestinian enclave, in retaliation for an October...
  • Non-cash transactions in Egypt set to reach $16.34 billion in 2023

    Cairo, Egypt -  The Egyptian market is projected to reach an impressive $16.34 billion in non-cash transactions in 2023, while as global non-cash transaction volumes are set to hit a staggering 1.3 trillion in the year, reveals  the Capgemini Research Institute's 2023 World Payments Report. As consumers and businesses eagerly...
  • Heeding ‘people’s call,’ Sisi announces run for third term

    Cairo, Egypt - Egyptian President Abdel Fattah al-Sisi announced Monday his candidacy for a third term in office, ahead of December elections he is widely expected to win. "As I have responded to the people's call before, I heed the call now and announce my intention to run and complete the...
  • Egypt to elect President in three-day election from Dec 10

    President Abdel Fattah al-Sisi, a former army chief, has ruled for nearly a decade in the Arab world's most populous country, which is now mired in a deep economic crisis. Experts had predicted Sisi would move forward the 2024 election, ahead of a possible switch to a flexible exchange rate...
  • Egypt jails opposition activist ahead of next year’s presidential polls

    CAIRO, EGYPT - An Egyptian court has sentenced prominent dissident Hisham Kassem to six months in prison, his lawyer and political movement said, a move barring him from taking part in campaigning for next year's presidential election. It comes one day after Egypt's only candidate campaigning so far for the election,...
  • Inflation in Egypt hits record high of nearly 40 percent, says government

    Annual inflation in Egypt hit 39.7 percent in August, official figures showed, an all-time high for the country as it grapples with a punishing economic crisis. It comes after an unrelenting economic crisis that has seen the currency shed half its value against the US dollar since early last year.
  • Arab-Japan ties to see expansion to cultural, environmental, energy fields

    Cairo, Egypt-- Vowing to expand their relations to cultural, educational, environmental, and energy fields, Arab states and Japan have expressed satisfaction with the level of cooperation between the two. Dr. Abdullatif bin Rashid Al-Zayani, Minister of Foreign Affairs of Bahrain, participated in the third session of the Arab-Japan Political Dialogue...
  • Italy’s Eni plans to invest $7.7 bn in Egypt

    Cairo, Egypt - Italian energy giant Eni has revealed plans to invest $7.7 billion in Egypt's energy sector over the next four years, according to Egyptian Presidential spokesman Ahmad Fahmi. "The President values the distinguished Egyptian-Italian relations and the extended partnership with Eni, which executes multiple activities in Egypt according...
  • Egypt, Ethiopia restart talks over dam construction

    Cairo, Egypt - Egypt announced on Sunday that negotiations had resumed over Ethiopia's controversial mega-dam, after agreeing last month to reach a deal following years of tensions between the two countries. For years at loggerheads over the issue, Egyptian President Abdel Fattah al-Sisi and Ethiopian Prime Minister Abiy Ahmed had agreed...
  • Climate change to be discussed in Dubai COP28 meet, says Egypt minister

    Cairo, Egypt - Egyptian Minister of International Cooperation Dr. Rania Al Mashat, said the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) is likely to address climate change issue and its effects on countries and people, local media reports said. The UAE will host...
  • Arab Parliament endorses call to support victims of terrorism

    Cairo, Egypt-- Arab Parliament on Monday endorsed the call for victims of terrorism in the Arab world to be supported "financially and economically" to overcome tragedies. The parliament said that those affected by the evil claws of terrorism in the Arab world must be supported to overcome their tragedies. The...
  • Egyptian President Sisi pardons jailed activist Ahmed Douma

    Egyptian activist Ahmed Douma, a leading figure of the country's 2011 uprising who has spent the last decade behind bars, has been granted a presidential pardon, lawyers said. "President Abdel Fattah al-Sisi... has used his constitutional powers" to pardon several prisoners including Douma, said Tarek Elawady, a member of the...
  • Central Bank of Egypt raises interest rate to 100 bps to combat inflation

    Cairo, Egypt – In a surprising move, the Central Bank of Egypt (CBE) announced on Thursday that it has raised interest rates by 100 basis points to contain the rising inflationary pressures. The lending rate was increased to 20.25 percent, and the deposit rate to 19.25 percent, while the credit...
  • Egypt energy-saving measures evoke satirical reaction among citizens

    Sweltering without air conditioning during the day and plunged into darkness at night, many Egyptians have responded with anger and ridicule to government measures for reducing energy consumption. Hours-long power cuts across Egypt, several times a day, prompted the directives as record temperatures hit the Mediterranean region this month.
  • Palestinian president, factions arrive in Egypt for talks

    Ahead of unity talks between various Palestinian factions boycotted by the militant group Islamic Jihad, President Mahmud Abbas arrived in Egypt on Saturday. Apart from chairing meeting of the heads of factions, the president is also scheduled to meet with the Egyptian counterpart Abdel Fattah El-Sisi, the Palestinian news agency...
  • UAE and Egypt to boost cooperation in higher education, scientific research

    Cairo, Egypt-- The UAE and Egypt are looking to ramp up cooperation in the fields of higher education and scientific research. In this connection, Sheikh Dr. Ammar bin Nasser Al Mualla, attaché of education and technology sciences of the UAE in Egypt, discussed with Mohamed Ayman Ashour, Minister of Higher...
  • Egypt building collapse kills eight residents in capital

    According to state media and the public prosecution, eight people including seven members of one family were killed in Cairo when a residential building collapsed. Civil defense workers pulled out nine people, among them an injured woman, while the eight others were dead, adding that five people got out in...
  • War-scarred Sudan refugees face soaring rent prices in Cairo

    As Egypt said more than 250,000 people crossed in from Sudan -- fleeing ceaseless air strikes, street battles, rampant looting and sexual violence -- property owners in Cairo saw an opportunity. Inflation in Egypt hit a record high of 36.8 percent in June, and the pound has lost half its...
  • Egypt, Ethiopia to finalize deal on Nile dam in four months

    The two countries resolved to finalize a deal over Ethiopia's big dam on the Blue Nile in four months, a breakthrough after years of bickering between the two countries. The huge $4.2 billion dam has been at the heart of a regional dispute since Ethiopia broke ground on the project...
  • Egypt, Turkey appoint ambassadors after a decade

    Egypt and Turkey said they had appointed ambassadors to each others' countries for the first time in a decade, in the latest sign of warming ties. The two foreign ministries said the move "aims at the re-normalization of relations between the two countries and reflects the mutual will to develop...
  • India’s Modi, Egypt’s Sisi pledge to deepen strategic partnership

    Indian Prime Minister Narendra Modi met Egypt's President Abdel Fattah al-Sisi in Cairo on a rare visit during which both sides pledged to deepen their strategic partnership. They agreed to boost investment by India, the world's most populous nation, in Egypt and which is now in the grips of an...
  • TAQA Arabia’s shares listed on EGX

    More than 1.35 billion shares of the energy distribution firm were listed.
  • UAE Investors Council, EECB sign MoU to boost partnerships

    Cairo, Egypt - The UAE International Investors Council (UAEIIC) and Egyptian-Emirati Business Council (EEBC) will work together to enhance the existing investment partnerships, local media reports said. The two signed an MoU regarding the same, which also includes creating more investment opportunities in the new economy, green projects, recycling, clean...
  • Oman’s Sultan Haitham and Egypt’s el-Sisi review bilateral ties in Cairo

    Cairo, Egypt--Egypt's President Abdel Fattah el-Sisi and Oman's Sultan Haitham bin Tareq reviewed bilateral relations and regional issues in talks in Cairo on SUnday. The two leaders shared views on the importance of intensifying efforts to protect the interests of Arab peoples, Presidency Spokesman Ahmed Fahmy said. Before the summit...
  • Egypt signs transport investment deal with Japan worth US$734mn

    Cairo, Egypt--Egypt has signed its biggest investment package with Japan aimed at supporting the North African country's transportation development plan. According to a statement released by Egypt's Cabinet, the agreement, worth 100 billion yen ($734 million), will be used to finance Cairo’s metro expansion, a 30-km stretch of land that...
  • Cleopatra had white skin, Hellenistic features, Egypt to Netflix

    Cairo, Egypt - Egypt's antiquities ministry insisted on Thursday that Cleopatra had "white skin and Hellenistic characteristics" in an ongoing row over a Netflix drama-documentary depicting the famed beauty of antiquity as black. "Queen Cleopatra", produced by Jada Pinkett Smith and starring Adele James, is due for release on the streaming...
  • Egypt’s Sisi meets UAE leader amid economic woes

    Cairo's foreign reserves fell by about 20 percent in one year to $34.45 billion -- about $28 billion of which are deposits from wealthy Gulf donors. Experts have for months warned that Egypt is among the top five countries at risk of defaulting on its debt, which hit a record...
  • Egypt’s village traditions in peril as costs rise

    Multi-day weddings, feeding the bereaved and homemade bread are all becoming things of the past in rural Egypt.
  • Children to be vaccinated in quake-hit northwest Syria

    CAIRO/AMMAN, EGYPT/JORDAN -   Measles and polio vaccination campaign will be launched on Saturday across northwest Syria to protect some 800,000 children under five years from the two potentially deadly but preventable diseases, the World Health Organization (WHO) said in a statement. The vaccination drive, supported by WHO, the Vaccine Alliance...
  • Arab thaw: Egypt’s Sisi likely to meet Syria’s Assad this month

    Cairo. Egypt - The Egyptian President Abdel Fattah al-Sisi is planning to hold a meeting with his Syrian counterpart Bashar Al-Assad towards the end of April, Wall Street Journal reported on Sunday.  Cairo and Damascus are in the process of restoring diplomatic ties and the high-level meeting is expected to...
  • Egyptian President al-Sisi meets Saudi Crown Prince amid quest for financial aid

    CAIRO, EGYPT - Egyptian President Abdel Fattah al-Sisi met Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud at Ramadan Suhoor-meal table in Jeddah early Monday. The trip came as Egypt seeks financial support to alleviate pressure on its currency and strengthen its struggling economy. During...
  • Syrian foreign minister on a visit to Egypt

    Egypt's Foreign Minister Sameh Shoukry met with his Syrian counterpart Faisal Mekdad in Cairo, a first since Syria's civil war broke out over a decade ago, Shoukry's office said. The meeting comes amid amplified Arab engagement with the Damascus government which has been politically isolated in the region since the...
  • Egypt raises key interest rates by 200 bps amid soaring inflation

    Cairo, Egypt - The Central Bank of Egypt (CBE) raised key interest rates by 200 bps for the first time in 2023 on Thursday as it struggles to control soaring inflation. “In its meeting today, the Monetary Policy Committee (MPC) decided to raise the Central Bank of Egypt’s (CBE) overnight...
  • Egyptians cling to Ramadan charity as inflation soars

    Families have buckled under the weight of inflation, which hit 32.9 percent in February as Egyptians tried to fill their shelves ahead of the Islamic holy month of daytime fasting and special evening meals, known as iftar. "Last year, we were giving out 360 iftar meals every day -- this...
  • 2,000 ancient sheep heads found in Egypt temple

    Mummies of dogs, goats, cows, gazelles and mongooses were also exhumed by a team of US archaeologists from New York University.
  • Israel, Palestine seek ‘to restore calm’ in West Bank at Cairo meet

    Cairo, Egypt - Israeli and Palestinian officials were holding talks in Egypt on Sunday "to restore calm" after a surge in deadly violence in the occupied West Bank, Egypt's foreign ministry said. The meeting, which follows similar talks last month in Jordan where both sides pledged to prevent more violence, comes...
  • Erdogan to meet Egyptian President al-Sisi soon, says Turkish minister

    Turkey's top diplomat said President Recep Tayyip Erdogan and Egyptian President Abdel Fattah al-Sisi would meet to mark the end of a decade of estrangement between the two countries. Turkish Foreign Minister Mevlut Cavusoglu, speaking alongside his Egyptian counterpart Sameh Shoukry during a visit to Cairo, said Ankara wanted to...
  • Jordan Senate, Arab Parliament speakers discuss regional issues

    AMMAN,  JORDAN -   The Speaker of Jordan's Senate Faisal Fayez met with Arab Parliament Speaker Adel Abdulrahman Al-Asoomi and discussed the ways and means to activate parliamentary work and diplomacy to address the region's common interest. During the meeting, attended by Jordan's ambassador to Egypt Amjad Adaileh, the two sides...
  • Egypt’s train derailment in north kills two and injuries 16

    In the latest rail tragedy to hit Egypt, two people were killed and many more injured at Qalyub north of Cairo. According to the country's health ministry, the injured are in a stable condition. An earlier toll provided by the ministry said that one person died and 16 were wounded,...
  • Dimpled sphinx statue unearthed in Egypt

    The limestone artifact, believed to be a stylized representation of an ancient Roman emperor, was found inside a two-level tomb near the temple in southern Egypt.
  • Egypt’s foreign reserves rise $128m in February

    Cairo, Egypt - Egypt’s foreign exchange reserves rose $127.9 million by the end of February to $34.352 billion, compared to $34.224 billion by the end of January, according to the Central Bank of Egypt (CBE). Foreign currencies in Egypt’s foreign reserves include the US dollar, euro, Australian dollar, Japanese yen...
  • Egypt arrests 29 over alleged online crypto scam

    Cairo, Egypt - Egyptian authorities have detained 29 people, including 13 foreigners, accused of running an online cryptocurrency scam that defrauded thousands of investors, state media reported Sunday. The network pocketed about US$620,000 at the expense of its victims in the country now battered by an economic crisis and rapid inflation,...