News
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Egypt launches its first government data and cloud computing center
Situated along the Ain Sokhna highway, the center spans 23,500 square meters, with 10,000 square meters designated for current infrastructure.
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Egyptians brought 4.6 tons of gold from abroad in a year
There is no final decision yet regarding whether or not to extend the initiative to exempt gold imported for personal use from customs after 10 May.
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Key targets of Egypt’s FY2024/2025 budget plan
The FY2024/2025 budget is based on oil prices of $82 per barrel, up from $80 per barrel in the current FY2023/2024.
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Egypt to build international religious & cultural complex in Sharm el-Sheikh
The complex was designed in a manner to compliment Sharm el-Sheikh’s status as a tourist city.
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Egypt Expects to Achieve Primary Surplus of 5.75% of GDP in Current Fiscal Year
Egypt aims to achieve a primary surplus of EGP591.4 billion, or 3.5 percent of GDP, in the next fiscal year 2024-2025.
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Egyptian startups secure funding to boost expansion to Saudi Arabia following a period of stagnation
Egyptian fintech startup Waffarha has secured a seven-figure seed round from Value Makers Studio to expand its footprint.
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Egyptian fintech MNT-Halan lands $120M from Apis Partners, DisrupTech and others
More than 70% of Egypt’s young and fast-growing population of over 100 million is financially underserved, despite mobile penetration exceeding 90%.
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Egypt procures 750,000 MT in local wheat harvest so far
It aims to procure a total of 3.5 million metric tonnes this season, which began on April 15.
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Egypt's planning minister: Suez Canal revenues down 50%
Suez Canal revenues are down by 50% due to tensions in the Red Sea.
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IMF: We support Egypt in all measures aimed at introducing economic structural reforms
The IMF supports Egypt in its structural reform measures aimed at improving the Egyptian economy, praising the positive impact of the steps taken.
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IFC’s banking finance network upgrades Egypt’s performance to ‘Advancing’
The matrix provides a measure of progress made at the country level by member institutions to develop a sustainable finance framework.
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Egypt’s FRA & World Gold Council Launch Gold Fund Initiatives
Dr. Farid added that these funds also provide a hedge against price volatility through participation in a structured and secure investment.
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China proposes to build a major textile manufacturing city in Egypt worth $300 mln
The delegation included presidents and representatives of 20 largest Chinese companies and alliances operating in various fields of the industry.
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Egypt’s major commitments under the IMF’s $8 bln expanded loan deal
The fourth through eighth and final reviews are scheduled to be completed every six months, allowing the country to receive around $1.3 bn each time.
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Egypt's Engineering exports record unprecedented high levels
The figures showed that the after Egyptian engineering exports recorded levels that are the highest in the history of Egyptian engineering exports.
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Egypt to cut interest rates by 2 percent in May; inflation to decrease to 20 percent by end of 2024
The CBE's Monetary Policy Committee is scheduled to meet on May 23 to review the key interest rates.
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Egypt wants to increase oil production by 9 percent
The aim is to reach 637 thousand barrels per day, compared to the current 580 thousand barrels.
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Tunisia's COFICAB Company to boost Egypt’s exports, targeting $200M in exports by 2027
This came during the meeting on Tuesday 23/4/2024 with Prime Minister, Mostafa Madbouly to follow up on the company’s recent developments.
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Egypt and African Development Bank finilise programme to strengthen country's entrepreneurial ecosystem
More than 100 businesses and entrepreneurs have benefited from the financial, tax, administrative, and technological advice offered by top consulting.
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Globeleq Completes Acquisition of Stake in Winnergy Solar PV Plant in Egypt
Globeleq, a leading independent power and energy transition company, has finalized the acquisition of a 48.3% equity share in the 25 MWp solar plant.