News
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380,000 Russian Tourists Visited Hurghada in the Past Eight Months
The number of departure cities in Russia has increased from five to 12 to accommodate the increase.
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Cabinet says cultivated lands up in 2024 to 10 million feddans
The state spares no effort to achieve agricultural development as it adopted an integrated approach to increase farmlands across the country.
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NBE, Banque Misr raise limits of credit card withdrawals outside Egypt to $5,000
At the same time, they raised the monthly purchase limit to $6,000 for the highest category of credit cards.
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ACUD launches 1st business incubator in real estate
This move aims to provide companies with the best solutions and methods, making their work in property technology effective and beneficial.
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Tamweely acquired by consortium of EU, British, Egyptian investors
The deal reflects investor interest in Egypt’s growing microfinance sector, a financial analyst told Mada Masr.
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Egypt targets increasing food industry exports 15% annually through 2027
Food Export Council aims to achieve a composite annual growth rate of 15 percent with export targets of $6 billion by the end of 2024 and $7.7 billion
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Egypt’s Monorail Project Starts Trial Operations in October
El-Wazir emphasized Egypt’s commitment to expanding cooperation with the UK, highlighting the potential for joint ventures in industrial development.
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Egypt jewellery, gemstones exports amount to $1.5 bln in 7 months
Egypt’s exports of jewellery and gemstones increased by 118 percent from January to July amounting to $1.526 billion, compared to $700 million in 2023
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Egypt-born FlapKap raises $34 million pre-series A
The fintech company will use the new investment to expand its small and medium enterprise (SME) financing services across MENA.
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Egypt Courts Chinese Investment for Tech Growth
Egypt called on Indonesian companies to invest in the country’s burgeoning tech sector, particularly in data centers and digitalization.
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NBE Raises Limit for Traveling Clients to USD 5,000
The bank also announced an increase in the foreign currency spending limits on its credit cards for transactions outside of Egypt.
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Egypt should invest $40-$50 bln to reach $140 bln in exports
Egypt should invest $40-$50 billion to reach $140 billion in exports, Minister of Investment and External Trade Hassan ElKhatib said.
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Entlaq acquires a stake in Egypt’s Brotinni
Entlaq, an Egypt-based company supporting entrepreneurs, has acquired a stake in the Egyptian foodtech Brotinni for an undisclosed value.
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Egyptian remittances increase by 87% in July
The Central Bank of Egypt (CBE) announced that Egyptian remittances increased by 87 percent in July 2024 to $3 billion, compared to $1.6 billion.
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Egypt, China sign 5 MoUs in ICT field
The new factory is expected to produce up to 3 million kilometers of fiber optic cables annually, exporting 40% of its production to Europe and MENA.
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Egypt adjusts electricity prices for different consumption segments
The Electricity Utility and Consumer Protection Regulatory Authority (EgyptERA) disclosed the updated rates for various consumption segments.
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Egyptian Company Unveils Locally-Made Drones, Smart Munitions
The company's flagship product, the“6th of October” drone, was a key attraction, entirely made in Egypt.
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Sales of passenger cars rose by 97.6% in July: AMIC
The sales of passenger cars increased by 97.6 percent in volume in July 2024 compared to July 2023.
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AstraZeneca Recognized as the First Company in Egypt to Achieve the Best Place to Work for Working Parents
AstraZeneca Egypt worked on creating a workplace environment that is conducive to both professional success and personal well-being.
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Egypt Eager for New Investment Opportunities in Oil, Gas Sectors
Badawi welcomed the expansion of Emirati investments in Egypt’s petroleum and mining sectors.