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Samsung smartphones are number 1 in Egypt
The Korean giant came on top of all smartphone brands sale in Egypt with almost a quarter of the market share in Q2 of 2020.
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More inclusion for SMEs in Egyptian exchange
EGX announced the new account aggregation system for securities listed on the SMEs market.
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Denmark to help Egypt in its green transformation
Egypt and Denmark inked their Energy Partnership program for the years 2019-2022 as Egypt aims to increase its investment in renewable energy.
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Amazon has big plans for Egypt
Amazon, the US retail giant with market value that surpasses $1.5 trillion has big plans of expanding in Egypt.
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8 Things you need to know about “Not Expensive for You” Campaign
The goal is to promote the purchase of local products, increase demand from local factories to boost production and job opportunities.
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American embassy announces the 2020 Virtual Exchange Grant Competition
To prepare for the application, you need to register for two upcoming webinars on August 11 and 27, links included.
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Egypt lowers its deficit despite Coronavirus
The GDP is expected to drop down by a little over EGP 200 billion.
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Egypt first globally to have Uber intercity bus
Customers will be able to book the time they prefer between 8 rides daily with 9 pick-up/drop-off points in Cairo and Alexandria.
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10 things you need to know about technical education
The Ministry of Education dedicates special attention to technical education. With economic developments, there is a growing need for skilled labour.
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Confusion prevails regarding new electronic tax
Playstations can be taxed up to 60% while selfie sticks and cameras are subject to 20% tax; all this is in addition to a 14% VAT.
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SMEs join beneficiaries of financing initiative
CBE added small and medium enterprises to the list of beneficiaries of an GP 100billion initiative to support economy amid COVID-19 crisis.
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Egypt wins 2 sustainability awards from EBRD
Egyptian Electricity Company got the silver award in sustainable energy whole the National Railway company got a bronze for gender inclusion.
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Egypt launches wastewater management program in Fayoum
The project’s value is estimated at more than 450 million euros and it will be financed by 3 European bodies along with the Egyptian government.
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10 things you need to know about the state of social housing
The social housing program launched in 2015 with the aim of providing 1m housing units to limited-income citizens.
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World Bank approved $50m for Egypt Covid-19 response
The World Bank Group had established a Fast Track COVID-19 facility to help countries in health and economic emergency response against the pandemic.
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Egypt Economy partially open
Many workers will be going back to work, especially in the state sector and extending the hours of shops and trade centers.
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Egypt economic growth forecast lowered
A Reuters poll lowered Egypt’s economic forecast to 3.5% in the next fiscal year starting July down from 5.9%.
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Egypt budget deficit at EGP 267 billion
The deficit measured from July to January reached ~ EGP 268 billion, while last year same time it stood at ~EGP 214 billion.
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Egypt lowers fuel prices
The drop is considered “slight” in comparison to the global decline on the backdrop of the Corona pandemic.
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CBE announces new monetary procedures over Corona outbreak
The procedures include banks raising their credit card daily transaction limits and abolishing fees on withdrawals from ATM for the next 6 months.
