State-owned Telecom Egypt will begin testing fifth-generation (5G) network services in three months, Managing Director and Chief Executive Officer Mohamed Nasr told Asharq Business on 19 January. The company also intends to roll out the service commercially by the end of the year, Nasr added. Telecom Egypt received the country’s first licence on 17 January
Kuwait's Alshaya Group, one of the largest retailers in the Middle East, announced the closure of several of its retail franchises in Egypt due to economic challenges and the devaluation of the Egyptian Pound. "Due to the economic situation over the past three years and the challenges facing our business in Egypt, including the currency
Egypt’s famed military-owned ChillOut fuel station franchise will be privatised through an initial public offering (IPO), announced Minister of Planning and Economic Development Hala El-Said on 3 December. The announcement, made during an interview with Asharq Business on the sidelines of COP28, marks a significant step in the country’s ongoing privatisation programme. The transaction is
The Egyptian Exchange (EGX) is on track to introduce a real estate exchange system within the next four months, according to statements made by Chairman of the EGX, Ahmed El-Sheikh, to Asharq Business on 24 October. El-Sheikh revealed plans to establish a notary public unit within EGX to facilitate the transfer and registration of real
A tragic building collapse occurred in Cairo's Hadaeq Al-Qubbah district on 6 September, claiming the lives of four individuals and injuring five others. All victims were members of the same family, as confirmed by a source from Cairo's Civil Protection Forces who spoke to Ahram Online. Ahram Online also confirmed that an investigation by Egypt’s