An important report from the Central Bank.. A Turkish company invades oil production in Egypt.. And important statements by the Prime Minister.. Welcome to Wednesday’s news harvest
Starting from the banking sector, specifically the Central Bank, which revealed in its annual report monitoring the emergence of new credit and financing activities and services that are provided within the Egyptian market outside the scope of the usual financing systems, such as the activities of electronic association platforms, the activities of digital personal lending platforms, the activities of small and micro enterprise financing platforms, and the activities of purchasing platforms. Current and postpaid.
The Central Bank added that, as part of its keenness to provide a legislative cover to regulate these credit and financing activities, which are known as alternative financing activities in a way that guarantees the interests of all dealers, it is worth noting that the Central Bank is currently, in cooperation with the Financial Supervision Authority, putting in place the final preparations for the draft “draft law regulating… Alternative financing and financial technology activities related to banking services.
We go to the Turkish company Ercias for the production of oil lines and gas pipelines, which intends to establish a factory to produce oil, natural gas and water pipelines of large diameters in Egypt, with investments of 60 million dollars.
This came during a meeting today with Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, with Amri Ercias, President of the Turkish Ercias Company, in the presence of Dr. Sherif Al-Jabali, CEO of the company.
The Minister stressed the Ministry’s keenness to provide all aspects of support to the Turkish company to establish and expand its project, and export to various global markets, noting that the Egyptian economy possesses many distinct investment components and potentials, which include the geographical location, the infrastructure system for logistical transport, qualified workforce, and the availability of renewable energy sources. And qualified ports, in addition to the network of free and preferential trade agreements signed between Egypt and a large number of countries and regional and global economic blocs.
We go to Dr. Mostafa Madbouly, Prime Minister, who presided today; Wednesday, the weekly meeting of the Council of Ministers, where a number of important topics and work files were discussed and reviewed.
At the beginning of the meeting, the Prime Minister referred to the important participation of President Abdel Fattah El-Sisi, President of the Republic, in the activities of the G20 Summit, which was held in Rio de Janeiro, Brazil recently, and the bilateral meetings that were held with leaders and presidents of a number of countries on the sidelines of the work. Top.
The Prime Minister then moved on to talk about internal affairs, referring to the celebration that was held recently to announce the restart of Al-Nasr Automotive Company and the start of new production therein, after a hiatus that lasted more than 15 years. In this regard, he reiterated the state’s continued efforts to support and develop… The industrial sector, given its pivotal role in driving various development processes and its significant contribution to achieving more economic goals.
We go to the Talaat Mustafa Group, which was opened in cooperation with the AME Group – the Triple A Cultural Educational Center in East Hub Madinaty.
The center was opened by Omar Hisham Talaat, CEO of Business Development at Talaat Mostafa Group, and Eng. Alaa Al-Badri, CEO of AME Group, in the presence of a number of leaders of the two companies.
The Triple A Education Center offers training courses in foreign languages and specialized courses in computers and programming in all specializations (artificial intelligence – cybersecurity – graphics – financial analysis and digital marketing…) in addition to courses in human development. The educational center has an area of about 750 square meters and includes 8 training halls with a capacity of 500 seats.
