Egypt Education Platform (EEP) recently held the fourth edition of its annual EEP Run – The Ultimate Race for Schools.The event took place at District 5, in collaboration with Marakez and Stamina Fitness.  Students, parents, and teachers from 12 EEP network schools and preschools participated, choosing between 1K and 5K distances. Members of Selah El Telmeez and Option Travel, also EEP entities, joined in the run. Proceeds from the event will support Gaza in collaboration with the Misr El Kheir Foundation. Egypt Education Platform emerged in 2019 as ..read more

Delegations from Hamas and Israel departed Cairo on Thursday after two days of ceasefire negotiations, according to a high-level Egyptian source who spoke to Daily News Egypt. The discussions came amid escalating violence and increasing international pressure to de-escalate the conflict in Gaza. Egyptian mediation efforts continue in an attempt to bridge the gap between the two parties, particularly in light of recent events in the Gaza Strip. The source indicated that further diplomatic work is ongoing, highlighting the challenges in finding a resolution amid the current hostilities. Escalati ..read more

Dubleuse, a leading real estate development firm, has proudly announced the sell-out of the first phase of its latest venture, District People. This project, which is a blend of commercial and administrative spaces, is strategically situated in New Cairo’s premier administrative district. Spanning an area of 5,000 sqm, District People is on track for completion within a three-year timeframe from the onset of construction, boasting total investments of approximately EGP 1.5 billion. This marks a significant milestone in Dubleuse’s ambitious expansion strategy across its diverse project portfoli ..read more

Yousra, an ardent art enthusiast, views life through a creative prism. She is a firm advocate for the power of creativity, infusing it into every aspect of her work. To her, the artistic voyage has been a swift and exhilarating experience. Yousra upholds the conviction that artists must play a significant role in society and live with purpose. In line with this belief, she has been engaging in live performances designed to leave a lasting impact on the community. Presently, she is basking in the acclaim of her most recent film, “Shekko,” which has topped revenue charts. Moreover, she is gearin ..read more

In an effort to support taxpayers and foster a cooperative relationship, Rasha Abdel Aal, the head of the Egyptian Tax Authority, has announced a comprehensive initiative to resolve all tax disputes for businesses with revenues not exceeding EGP 10m by the upcoming June. This initiative aligns with the Ministry of Finance’s commitment to ease the process for taxpayers and is in accordance with Article 3 of Law No. 30 of 2023, aimed at settling pending tax disputes before 16 June 2023. In a recent statement, Abdel Aal detailed the simplified tax structure under Article 3 of Law No. 30 of 2023 ..read more

EFG Hermes, the leading investment bank in the Middle East and North Africa, has completed its advisory role on Spinneys’ $375m initial public offering (IPO) on the Dubai Financial Market (DFM). The IPO was significantly oversubscribed. Spinneys, a premium grocery retail supermarket operator in the UAE and Oman, offered 25% of its total issued share capital through the sale of 900,000,000 existing shares at AED 1.53 per share. This implies a market capitalization of AED 5.5bn ($1.5bn). The IPO attracted significant interest from local, regional ..read more

MSCI has announced that, starting from the May 2024 Index Review, the special treatment previously applied to the MSCI Egypt Indexes, as announced on 8 May 2023, will be discontinued. This decision comes after considering market participant feedback, which indicates enhanced liquidity in the Egyptian foreign exchange markets and improved conditions for foreign investors to repatriate capital from the Egyptian equity markets. Key changes in the May 2024 index review: Implementation of Postponed Changes: All index review changes, including updates to the Number of Shares (NOS) and Foreign Inclu ..read more

The Central Agency for Public Mobilization and Statistics (CAPMAS) has announced an increase in deposits within the Postal Savings Fund, reaching EGP 130.7bn in the fiscal year 2022/2023. This marks a 9.2% growth from the previous year’s EGP 119.7bn. In its latest annual postal service statistics report, CAPMAS highlighted that current account deposits with the National Postal Authority saw a significant rise to EGP 164.5bn in 2022/2023, up from EGP 142.7bn in 2021/2022. This EGP 21.8bn increment reflects a 15.2% growth rate. The number of operational post offices increased to 4,412 in 2022/20 ..read more

In a landmark move for environmental sustainability, Danone Egypt has partnered with Shift EV to transform 50% of its distribution fleet into electric vehicles (EVs) using Shift’s cutting-edge Electro-fitted technology. This initiative is a significant step in Danone Egypt’s journey towards a greener future, aiming to slash carbon emissions by over 6,000 metric tons—akin to planting 240,000 trees—by 2030, while also targeting a 70% reduction in operating costs. Hesham Radwan, General Manager of Danone Egypt, expressed the company’s dedication to minimizing its carbon footprint in Egypt. “This ..read more

Humans can continue learning throughout their entire lifespan. It has been hypothesized that this ability is responsible for the extraordinary flexibility with which humans use tools, a key factor in the evolution of human cognition and culture. In this study, Malherbe and colleagues investigated whether chimpanzees share this feature by examining how chimps develop tool techniques as they age. The authors observed 70 wild chimps of various ages using sticks to retrieve food via video recordings collected over several years at Taï National Park, Côte d’Ivoire. As they aged, the chimps became m ..read more