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Gov’t takes steps towards bringing the real-estate-for-FX scheme to life
Foreigners enrolling in the initiative will be offered residency- and citizenship-related incentives
British private school Wycombe Abbey is setting up shop in the new capital
The school will be Wycombe Abbey’s first overseas expansion outside East Asia
Egypt transfers ownership of gov’t HQs to the Sovereign Fund of Egypt
The move is part of a wider plan to revamp Downtown Cairo
Gov’t’s Pharos Energy bill rises to USD 37 mn. PLUS: Schneider solar projects, Tata Motors team up with MM Group, ValU + Bosta + PayTabs, Heliopolis Housing project, Nokia factory, new ADIB microfinance firm
The company intends to refrain from retrieving its USD-denominated receivables due to the exchange rate volatility.
Banque Misr becomes the latest bank to lower credit card FX limits. PLUS: Startup financing news, new Heliopolis Housing project, new fintech startup on the block, Egypt + Malta talk energy
The move follows similar movies by NBE, CIB, and ADIB over the last two weeks
B2Gold is looking to sell gold exploration licenses to Lotus Gold. PLUS: Heliopolis Housing multi EGP bn land purchase, Egyptian National Railways loan
B2Gold is pivoting away from Egypt to focus on its operations in South Africa
Chevron to start Nargis gas production in 2025. PLUS: Redcon + Compass, PaySky has big plans, New Administrative Capital construction
Chevron wants to ramp up production to 1 bn cf within two years
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