News
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Egypt’s sovereign fund to launch new industry-focused subfund by July
In a bid to encourage fresh investments, Egypt’s sovereign fund is planning a tour of the Gulf next month.
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Egypt to allocate land for 27 GW of solar, wind projects
This capacity represents almost half of Egypt's total electrical grid capacity, which currently stands at around 59 GW.
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Cemex to operate Regenera facility in Egypt
Cemex has entered an agreement with the authorities in Egypt's Gharbia province to operate the first facility of its circularity solutions business.
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Mars Egypt pours $250 million into chocolate factory expansion
Alongside its signature Mars Bars, the company's Egyptian subsidiary makes 150 products, including Snickers, Altoids and Juicy Fruit chewing gum.
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Telecom Egypt secures $200m loan
Telecom Egypt inked an agreement this week to receive a $200 million medium-term loan from Banque Misr in the United Arab Emirates.
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How climate change could make Egypt's coffee cultivation a reality
One Egyptian experiment has successfully cultivated coffee beans, but analysts believe environmental factors are still unfavorable for localizing.
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Royal Jewelry Museum displays golden chessboard of King Farouk I
The Royal Jewelry Museum displays the possessions collected by the family throughout its rule reflecting their luxurious lifestyle.
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Rents rise by 24%, East Cairo at forefront of demand
A significant revelation at the event was the 24% year-on-year surge in rental costs throughout Greater Cairo.
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Shell discovers two new gas fields in Egypt
El Molla emphasized that Shell is a strategic partner for the petroleum sector and has been operating in Egypt for over 110 years.
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Egypt to set 4 eco-friendly investment zones, with investments of LE 5B
This initiative is expected to create 759 investment opportunities and generate approximately 10,000 job openings.
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Egypt finances health sector by LE 115B to support health insurance
The Egyptian government has set a target to increase the health sector budget to LE 125 billion by the end of June 2024.
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CBE to decide on key interest rates Thursday for last time in FY2023/24
This is amid expectations that it will maintain the current interest rates as inflation rates have started to take a downward path the last 2 months.
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Philip Morris International acquires 14.7% in Egypt's Eastern Company
Eastern Company is Egypt’s largest cigarette manufacturer, with a portfolio that also includes cigars and pipe tobacco, among other products.
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Telecom Egypt signs deal to secure $200mln medium-term loan from Banque Misr UAE
The five-year amortizing loan will be settled from the collection of Telecom Egypt's foreign currency revenues.
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Egyptian merchandise exports reach $13bn in first 4 months of 2024
Egyptian merchandise exports reached $12.91 billion during the first four months of 2024, reflecting an annual 10 percent increase.
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Egypt’s Bahr El-Baqar Wastewater Treatment project wins Abdlatif Y. Al-Hamad Development Award
This is the second Egyptian project to win that award after the South Helwan Electricity Generating Station won that award in last year’s editions.
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Egypt’s Wepco mulls USD 420 mn expansion of oil storage infrastructure at its Al Hamra Terminal
Wepco is planning to process 95 mn barrels of oil during the next fiscal year — an average of 260k barrels per day.
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Egypt receives 7 local, international offers to acquire Wataniya
The government is currently working on evaluating the offers to decide upon the best one, Elsaid pointed out.
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Egypt’s SCZONE secures $3.23 billion in new contracts over 10-month period
SCZONE chairman revealed that the contracts in the industrial zones and ports reached 144 projects, creating more than 25,000 direct and indirect jobs
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Huawei launches MENA’s first public cloud in Egypt
Huawei Cloud launched its Cairo Region on Tuesday, becoming the first company to launch a public cloud services suite in Egypt, the first in the MENA