KMS Partners

A leading banking consortium comprising Commercial International Bank – Egypt (CIB Egypt ), Banque Misr, Bank of Alexandria (a member of the Intesa Sanpaolo Group’s International Banking Division), National Bank of Egypt (NBE) , Attijariwafa bank Egypt , Crédit Agricole Egypt, Emirates NBD Egypt , and HSBC Egypt has signed an EGP 8 billion syndicated loan with a six-year tenor in favor of Orange Egypt for Telecommunications, one of the market’s leading telecom operators.

The transaction reflects strong confidence in the Egyptian banking sector’s ability to structure and deliver complex financing solutions that support investment in strategic sectors, particularly telecommunications and digital infrastructure. Commercial International Bank – Egypt (CIB) acted as Initial Mandated Lead Arranger, Facility Agent, and Bookrunner, while Banque Misr, Bank of Alexandria, and the National Bank of Egypt served as Initial Mandated Lead Arrangers and Bookrunners. Attijariwafa Bank Egypt, Crédit Agricole Egypt, Emirates NBD Egypt, and HSBC Egypt participated as Mandated Lead Arrangers.

ADSERO - Ragy Soliman & Partners played a central role in the transaction, acting as legal counsel to the lenders. The firm advised the banking consortium on all legal aspects of the syndicated financing, including structuring, documentation, and successful closing of the facility, ensuring full alignment with applicable regulatory and market standards.
The team was led by Hossam Gramon , Partner - Head of Banking and Project Finance, and Karima Serry Seyam
, Senior Associate, assisted by Junior Associates Malak Zaki , Mostafa Khaled Serry , and Nour Osama .

Financial Regulatory Authority FRA has approved the establishment and licensing of the Emtelaak - امتلاك Fund for Real Estate Projects, following a review by the FRA Company Establishment and Licensing Committee, in accordance with the applicable laws and regulations governing real estate investment funds in Egypt.

The approval enables Emtelaak to operate a regulated real estate investment fund under the supervision of the Financial Regulatory Authority, marking an important step in the development of structured and compliant real estate investment vehicles within the Egyptian market.

The legal advisory and regulatory structuring for the fund were provided by El Laithy & Associates, a law firm recognized for its expertise in corporate governance, regulatory compliance, and investment structuring. The mandate was led by Ahmed Ellaithy, alongside Ahmed Rezk , who jointly advised on the legal framework, regulatory approvals, and governance requirements related to the establishment and licensing of the fund.

This approval reflects the FRA’s ongoing efforts to enhance transparency, governance, and investor protection within the non-banking financial services sector, and supports the continued evolution of regulated real estate investment models in Egypt.

IBF & COMPANY has acquired a 50% stake in Diatom CBT, a fast-growing cross-border technology company operating across the UAE and Egypt, strengthening IBF’s portfolio of technology-driven ventures alongside Kouncel.com and marking a major step in accelerating global cross-border e-commerce.

Diatom delivers a fully integrated, full-stack D2C export platform managing the entire export lifecycle — from onboarding and listing to pricing, logistics, warehousing, fulfillment, and post-sale support — enabling manufacturers and brands to scale internationally while focusing on growth rather than operational complexity.

Commenting on the partnership, Tarek Abdelrahim, CEO of Diatom, noted that the investment will enable faster scaling, expanded logistical capabilities, and greater access for regional manufacturers to global markets, reinforcing Diatom’s mission of seamlessly connecting offline infrastructure with online ecosystems.

Alexandre Boules, CEO of IBF & COMPANY, highlighted that Diatom’s model fundamentally changes how SMEs approach global expansion, creating significant opportunities to unlock international demand for regional products across the Middle East, Europe, and the United States.

This partnership reflects IBF & COMPANY’s focus on investing in digital platforms that solve real-world challenges and support sustainable growth for SMEs across regional and global markets.

Ashurst , the UK-based law firm, and the U.S. firm Perkins Coie Coie have announced an agreement to merge and create a unified legal entity comprising 3,000 lawyers and generating revenues of $2.7 billion—placing it among the world’s top twenty law firms. Partners from both firms noted that negotiations began in February and focused on building long-term capabilities, particularly in technology, financial services, and energy.

Paul Jenkins and Bill Malley will serve as global co-CEOs of the new firm, which will operate under the name Ashurst Perkins Coie. The combined entity will have 52 offices across 23 countries, with no immediate plans for further expansion. The merger is expected to be finalized by the end of 2026, pending partner approval.

This consolidation comes as part of a broader wave of transatlantic expansion in the legal services market, mirroring recent merger deals between UK and U.S. firms. It is also noted that Perkins Coie previously faced executive orders issued under President Donald Trump’s administration, which were later withdrawn and subsequently reinstate.

Tov: Egypt Advances Structural Reform of Economic Authorities

Prime Minister Mostafa Madbouly chaired a meeting this evening to review the progress of the committee tasked with reforming and restructuring Egypt’s economic authorities.

At the outset, the Prime Minister stressed that the meeting aims to follow up on the work of the committee formed to restructure these authorities, in line with ongoing efforts to maximize the use of state assets, achieve comprehensive structural reform, address longstanding challenges, and enhance the efficiency and economic contribution of these entities.

Cabinet Spokesperson Counselor Mohamed El-Homsany stated that the meeting included a detailed presentation on the restructuring process, covering the study results on governance proposals for several economic authorities and recommendations on best practices and required actions.

Dr. Hussein Eissa explained that the committee operates under Cabinet Resolution No. 3994 of 2022, which established a high-level committee chaired by the Prime Minister to oversee comprehensive structural reform. A technical secretariat was also formed to conduct all restructuring studies and present findings to the high-level committee and the Cabinet.

Following the review of 59 authorities in the first phase, it was agreed in principle to:
– Retain 39 economic authorities,
– Liquidate and abolish 4 authorities,
– Merge 7 authorities into others, and
– Convert 9 authorities from economic entities into public authorities for various considerations.

He added that detailed reports for the first group of authorities have been completed, along with the final study report, which will be submitted to the Cabinet.

During the meeting, the head of the committee’s technical secretariat noted that the second phase will involve detailed restructuring for each authority in its new form to improve efficiency, effectiveness, and overall contribution to GDP.

Apple is on track for an exceptional year in 2025 in terms of iPhone sales, driven by surging global demand and strong consumer interest in the iPhone 17 series. This momentum has pushed the global smartphone market to expand beyond earlier forecasts.

Estimates indicate that iPhone shipments in 2025 could reach around 247.4 million units, marking a 6.1% year-on-year increase — the highest in the company’s history. This performance has also lifted expectations for overall market growth to about 1.5%, with total smartphone shipments projected to reach nearly 1.25 billion units.

Apple also delivered a standout performance in China during the final quarter of the year. The iPhone 17 series topped sales charts in October and November with a market share exceeding 20%, prompting analysts to revise their forecast for Apple’s fourth-quarter sales growth in China to 17%, up from earlier estimates of 9%. This upward trend has also extended to other major markets, particularly the United States and Western Europe.

Tov China’s DeepSeek Launches New Human-Like AI Models

Chinese startup DeepSeek has released two new versions of its AI model. The main model, DeepSeek-V3.2, now combines human-style reasoning with the ability to use tools like search engines and calculators. The company says it performs on par with OpenAI’s GPT-5 in several reasoning tests.

DeepSeek also launched V3.2-Speciale, a version focused on advanced math and long reasoning. It reportedly reaches the level of Google’s Gemini-3 Pro, scoring gold-medal results in major global benchmarks.

The company added that it has developed a new method for training AI agents.

A new cooperation protocol has been signed between Banque Misr and NextEra Education , marking a significant step toward developing Egypt’s digital talent pipeline. The agreement introduces the “01Talent ” initiative, designed to equip young Egyptians with advanced skills in technology, programming, and digital innovation.

The protocol was signed in the presence of Ihab Dorra , Head of Retail, Payments & SME Banking at Banque Misr, alongside representatives from NextEra Education, Ziti Group , and Garmian. The collaboration aims to deliver modern training programs that integrate artificial intelligence, digital learning methodologies, and competency-based education models.

Through this partnership, Banque Misr seeks to support the creation of a new generation of highly skilled digital professionals capable of contributing to the evolving needs of Egypt’s fintech and technology sectors. The initiative also reflects a broader commitment to strengthening the link between education, employability, and the future requirements of the digital economy.

The launch of 01Talent represents a practical move toward expanding opportunities for youth and enhancing Egypt’s competitiveness in technology-driven fields.

Norm Ai Secures $50M from Blackstone and Launches AI-Native Law Firm

The legal tech startup Norm Ai has secured an exceptional $50 million investment from Blackstone, marking a significant shift in the legal services sector as AI-driven technologies continue to rise.

Alongside this investment, the company announced the launch of an independent law firm, Norm Law LLP, offering “AI-native legal services.” The firm leverages Norm Ai’s advanced technology to automate regulatory reviews and support compliance teams within financial institutions.

The law firm is fully independent, in compliance with professional regulations that prohibit non-lawyer ownership of law firms. It will utilize Norm Ai’s smart solutions under a structured fee agreement and is guided at launch by a high-level advisory board including former U.S. Securities and Exchange Commission officials.

This move reflects the accelerating trend toward a new model of legal service delivery, where AI is no longer just a supportive tool but an integral part of the legal workflow itself.

We just attended Dubai Watch Week 2025, and it was — without exaggeration — one of the greatest watch fairs on the planet. The scope, energy, and calibre of participants made it clear: luxury watches are no longer just about style or status — they are serious investments with evergreen value.

Among the standout names we had the privilege to see and hear directly:
• Jean‑Frédéric Dufour (CEO of Rolex), speaking on stage with Abdul Hamied Seddiqi (Chairman of Seddiqi Holding), in one of the most talked-about discussions of the week. 
• Georges Kern (CEO of Breitling), Ilaria Resta (CEO of Audemars Piguet), Karl‑Friedrich Scheufele (Co-President of Chopard), and Julien Tornare (of TAG Heuer) — all participating in the first-ever “CEO Roundtable: Horology Edition,” offering candid perspectives on the watch industry’s past, present, and future. 

On top of that, DWW 2025 featured more than 90 of the world’s most prestigious watch brands — from Rolex, Audemars Piguet, Chopard, Breitling, Bulgari, Hublot, to independents and micro-brands. 

Beyond the glitz and launches, the fair offered real substance: masterclasses, deep-dives into craftsmanship, networking with collectors and industry insiders, and an atmosphere that felt both grand and intimate. 

For anyone looking to combine passion with prudence — be it for collecting, investing, or simply appreciating horological art — Dubai Watch Week 2025 proved that luxury watches remain a timeless asset: beauty, heritage and value all in one.

In one of the most significant developments in the Kingdom’s insurance industry, Buruj Cooperative Insurance Company has officially completed its merger with MEDGULF Saudi Arabia (the Mediterranean and Gulf Insurance and Reinsurance Company).
The merger is expected to create a stronger, more sustainable insurance entity with enhanced operational capabilities and a wider footprint across the Saudi market—fully aligned with national strategies aimed at boosting competitiveness in the sector.

As part of the transaction, Baker McKenzie acted as legal counsel to Buruj. The team was led by Nadine Nassar , supported by Thamer AlZayer, Lama AlHabib, and Alma Alghamdi . The firm oversaw all legal and regulatory aspects of the merger, including the consolidation of rights and obligations and the issuance of new shares, in compliance with insurance regulatory requirements and related frameworks.

On the offeror’s side, Khoshaim & Associates served as legal counsel to MEDGULF. The transaction was led by Managing Partner Dr. Zeyad S. Khoshaim , with support from Ghaida Meaigel, Duaa Amer , and Mohammad Al Mogheerah. The team advised on the transaction structure, negotiation strategy, and sector-specific regulatory matters related to insurance, competition, and securities.

This merger marks a pivotal moment in the evolution of Saudi Arabia’s insurance landscape—signaling a broader shift toward larger, more efficient, and more resilient market players, in line with the sustainability and competitiveness objectives of Saudi Vision 2030.