Binance, the world’s largest cryptocurrency exchange, has suspended withdrawals after hackers broke into its digital wallets and stole six billion dollars in what appears to be the biggest crypto heist ever. The exchange said Friday that it has begun recovering affected assets and was continuing to work with law enforcement and blockchain intelligence firms to …
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New York —  For decades, it was the all the bells and whistles that was the selling point for a fancy coffee machine. Now, consumers are looking for what it lacks. Growing concern over microplastics and sustainability is sparking a wave of plastic-free coffee pods and machines. Coffee companies and appliance makers have released new machines …
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Egypt is accelerating construction of a 341-kilometre railway line linking Bir al-Abd, Arish and Ras El-Naqab, near Taba Airport, as part of a broader project to extend the national railway network across Sinai and support economic development in the peninsula. Transport Minister Kamel Al-Wazir inspected construction sites along the route, focusing on the 83km section […]

Shares of Banque du Caire (BDC) began trading on the Egyptian Exchange (EGX) main market on Monday following a record EGP 36.37bn initial public offering (IPO), the largest in the history of the country’s capital market. The offering comprised 6,862,500,000 shares, representing 45% of the bank’s total 15,250,000,000 shares. The IPO gives BDC a market […]

Minister of State for Information Diaa Rashwan met with around 70 Egyptian content creators and social media influencers on Sunday, 1 November , to discuss the future of the country’s digital content sector, including the possibility of establishing an organizing framework, defining professional standards and improving access to official information. The meeting comes days after the Cabinet reviewed recommendations to introduce new measures addressing harmful social media practices, including proposed amendments to increase fines for offences involving false news and rumours, as well as preparations for a digital safety law. During Sunday’s meeting, participants called for the establishment of an Egyptian umbrella organization for content creators that would set professional and ethical standards and regulate their relationship with established media institutions. They also proposed developing a clearer definition of the term “content creator” and establishing criteria to distinguish professional creators from the wider population of social media users. Rashwan said the government would not establish a syndicate for influencers, but noted that content creators could form their own association or umbrella organization in accordance with the Constitution and the law. He added that the ministry was considering ways to supportContinue reading "Egypt Moves to Regulate Social Media Content Creators"
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Egypt signed a USD 1 billion (EGP 55 billion)  financing agreement with the World Bank on Sunday, 1 November, under the second phase of its Development Policy Financing (DPF) programme, aimed at strengthening economic resilience, encouraging private sector investment, and supporting the country’s transition to a green economy. Prime Minister Mostafa Madbouly witnessed the signing ceremony at the Ministry of Foreign Affairs headquarters in the New Administrative Capital.The agreement was signed by Foreign Minister Badr Abdelatty, who also serves as Egypt’s governor at the World Bank, and World Bank Regional Director Alwaleed Alataban⁠. The programme, titled “Building Resilience, Creating Opportunities and Enhancing Wealth for Egypt’s Prosperity and Stability,” seeks to improve the country’s business environment, attract private investment, and strengthen the competitiveness of the Egyptian economy. Its reform agenda includes improving the governance of state-owned enterprises, removing barriers to private sector investment and economic growth, promoting fair competition, increasing domestic revenue mobilisation, and reducing government borrowing costs. The second phase also includes social protection and environmental measures, including expanding the number of beneficiaries of the Takaful and Karama programmes, improving greenhouse gas emissions monitoring, and developing carbon credit markets. Additionally,Continue reading "Egypt Signs USD 1 Billion World Bank Financing Deal to Support Economic Reforms"
The post Egypt Signs USD 1 Billion World Bank Financing Deal to Support Economic Reforms first appeared on Egyptian Streets.