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Why Fitch's Revision of Egypt's Outlook to Positive Matters?
At the same time, the agency expected in its report on Egypt that foreign exchange reserves would continue to rise further to record $53.3 billion.
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Egypt & Belarus Sign Memoranda to Boost Economic Cooperation
The annual trade exchange between Egypt and Belarus amounts to USD 95 million on average.
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Saudi-listed ADES wins jackup drilling contract in Egypt
The new award follows the group’s recent contracts in Qatar and Thailand, slated to commence operations in the second half of 2024.
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PM reviews efforts of unified gov’t complaints system in April
The state is doubling efforts to receive complaints from the citizens.
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Elsewedy Electric, Bühler Group, and IBC Group sign agreement to advance grain silos industry in Egypt
This strategic alliance aims to promote the localization of grain silo manufacturing in Egypt, thereby enhancing food security.
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Egyptian onions replace Moroccan ones in West Africa
Since March 2023, Morocco, confronted with a difficult drought season, has banned onion exports to West Africa.
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Mazaya Developments Launches 4Th Project In New Capital With EGP 5Bn Investment
The new project boasts a modest built-up area, occupying only 30% of the total land, with buildings spanning 106 sqm in width.
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Egypt’s foreign currency reserves to soar $16.2bln in FY24/25
The report expected the country’s reserves to rise further by $2.60 billion in FY25/26.
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JPMorgan expects major surge in Egypt's foreign exchange reserves
The announcement from JP Morgan comes in the wake of encouraging developments in Egypt's financial landscape.
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Egypt braces for second summer of power cuts as gas supplies dwindle
The cuts started as Egypt allocated more of its gas production for export to raise scarce dollars, importing polluting fuel oil to keep some power.
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Egypt's general treasury pays EGP 3B to support funds’ workers
During the final quarter of the ongoing fiscal year, a sum of EGP 715.7 million was earmarked to pay the entitlements of employees within the funds.
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China's home appliance giant Haier inaugurates industrial park in Egypt
Haier Smart Home Co., Ltd., a subsidiary of the Haier Group, invests 135 million U.S. dollars to build the Haier Egypt Ecological Park.
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Finance min.: Egyptian economy restoring trust of int’l rating agencies with positive outlook
The latest rating issued by Fitch Ratings revised the Outlook on Egypt’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to Positive.
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Air Cairo expands fleet with 24th Airbus A320
Air Cairo had confirmed that on the occasion of the start of the summer season, a number of new air routes will be operated.
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Egypt private sector faces challenges applying new minimum wage increase
Egypt’s private sector is struggling to implement the minimum wage limit the National Council of Wages (NCW) has set recently.
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Egypt seeks investment boost from South Korea across key sectors
Madbouly highlighted several sectors that Egpyt seeks to boost investment in, including electronics, oil and gas, nuclear energy, and iron and steel.
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US authorities return antiquities linked with notorious smuggling ring to Egypt
The Egyptian items repatriated by the Manhattan District Attorney's office this week, collectively valued at $1.4m.
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Beltone Launches $100M Private Credit Platform for Egyptian Exporters
BIH is looking to establish a comprehensive facilitatory platform to aid the growth prospects of the Egyptian economy.
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Egyptian potato exports to Asia immune to red sea crisis
The potato sector owes its immunity to supply chain problems to the bigger crisis in global production of this essential crop for consumption.
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Egypt sets sail for renewable future with $9 billion FDI for 8 GW wind projects
Egypt has entered into agreements for two wind energy projects west of Sohag, involving foreign direct investments (FDI) totaling an estimated $9 bln.
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Madbouly Witnesses Inking Of Land Deals To Implement 2 Electricity Projects In Sohag
Investments in this field to contribute to reducing the use of fossil fuel and carbon emissions and achieving the sustainable development goals.
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$2bln total value of payment orders of beneficiaries of cars for Egyptian abroad initiative
In a statement on Saturday, Gendy said the initiative was launched in response to requests of the Egyptian expatriates to bring cars from abroad.
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Egypt’s Majestic Squash Showdowns: Unveiling the Finest Tournament Venues
The anticipation is building for the forthcoming World Championship at the prestigious National Museum of Egyptian Civilization in May.
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National Museum of Egyptian Civilization marks third anniversary with special exhibition
“The Story of a Museum” is a special exhibition relating the story of the National Museum of Egyptian Civilization (NMEC).
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Egypt as a top orange exporter globally: A success story
In recent years, Egypt has emerged as a powerhouse in the global citrus market, with its oranges commanding attention from buyers worldwide.
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5 key facts about Egypt's new capital gains tax
The new tax will be applied starting from March/April 2025. What is it? who does it apply to? Here are the 5 things you need to know about it.
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Online channels that can bring you more customers
Digital channels are becoming the most important tool for drawing the attention of interested parties to your products, but their prices are rising.
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A deep dive into Egypt's fish market boycott campaign
The boycott campaign serves as a strong reminder of the power of collective action in holding market prices to account.
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Egyptian boycott of fish, meat, and poultry enters 2nd week
Despite the decline in the price of meat in some governorates, Sohag has a strange insistence among butchers to sell a kg of local meat for 430LE.
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Auto sales in Egypt record 4.2k vehicles sold in March 2024
Only 4.2k vehicles were sold, marking a decrease of 43 percent compared to the previous month.