The Financial Regulatory Authority (FRA) has issued new regulations requiring insurance companies to regularize their operations in line with the recently implemented Unified Insurance Law.

Prime Minister Mostafa Madbouly witnessed the signing of a contract to establish the Administrative Capital Water Company, an Egyptian joint-stock entity aimed at managing the water infrastructure in the New Administrative Capital (NAC)

Raya Contact Center is planning to launch a new investment arm in the UK within the first half (H1) of 2025.

Talaat Moustafa Group Holding (TMG Holding) is looking forward to entering the consumer finance field through Orion Facility Management Services.

Egypt is set to launch a new investment and management firm in the education sector within the coming days.

The Egyptian investment bank Zilla Capital will establish an investment portfolio management firm in Saudi Arabia, in partnership with a Saudi financial institution, Zilla Capital’s CEO Moustafa El-Shenety said.

Contact Financial Holding’s board has approved the establishment of a limited liability company in Dubai, with seed capital of AED 300,000.

Contact Financial Holding has embarked on establishing a new company in the UAE to provide financing services to Egyptian expats.

The Egyptian International Pharmaceutical Industries Company (EIPICO), in cooperation with the Arab Company for Drug Industries and Medical Appliances (ACDIMA) and the Suez Canal Economic Zone (SCZONE), has finished the incorporation procedures of the pharmaceuticals firm Arab API.

The Egyptian Transport and Commercial Services Company’s (EGYtrans) board has approved the establishment of a limited liability company in Saudi Arabia before the end of the first quarter (Q1) of 2024, in partnership with Link Investments.

Beltone Financial Holding has submitted a request to the Financial Regulatory Authority (FRA) for the preliminary approval on establishing a company to finance small and medium-sized enterprises (SMEs).

Banque Misr will launch, in cooperation with the UAE-based telecom operator e& Egypt, an e-payment company with capital of EGP 500 million before the end of 2023.

Taqa Arabia has finalized the procedures for incorporating a limited liability company in Saudi Arabia, in cooperation with the Saudi Natural Gas Distribution Company.

Beltone Financial Holding has signed a memorandum of understanding (MoU) to acquire a microfinance firm by the Financial Regulatory Authority (FRA).

Misr Fertilizers Production Company’s (MOPCO) board has approved the establishment of a company for the production of green hydrogen, in cooperation with the Egyptian Petrochemicals Holding Company (ECHEM) and Norway’s Scatec.

Arab African International Bank (AAIB) is seeking to sell its stake in Palm Hills Development Company (PHDC) to Abu Dhabi-based Al Ain Holding, two sources familiar with the matter told Asharq Business on February 5th. The Mansour family owns more than 46% of Palm Hills’ shares, while Al Ain Holding holds a 12.7% stake in the company.

CI Capital has revised the target prices of two companies listed on the Egyptian Exchange (EGX), namely Commercial International Bank Egypt (CIB) (COMI) and Telecom Egypt (ETEL), according to the research firm’s MENA Top Picks report issued on January 29th.

The National Telecom Regulatory Authority (NTRA) has approved Telecom Egypt's (ETEL) financial and technical offer to obtain new frequencies of 5-megahertz (MHz) within the 1800MHz band using the frequency division duplex (FDD) technology, according to a press release on January 31st.

ExxonMobil Egypt has signed a memorandum of understanding (MoU) with Sawiris Foundation for Social Development (SFSD) to join its program “Bab Amal”, carried out by the Giving Without Limits Association in Assiut, according to a press release on January 31st.

Integrated Diagnostics Holdings (IDH) (IDHC) has backed out of a deal to purchase a 50% stake in Islamabad Diagnostic Centre in Pakistan, according to a press release on January 31st.