News
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Hisham Talaat Mostafa named most influential real estate developer in Middle East by Forbes
Forbes attributes this distinction to Talaat Mostafa’s remarkable success over four decades in leading the Talaat Mostafa Holding Group.
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IMF ties Egypt loan disbursements to currency flexibility
Egypt will have immediate access to $820 million this week and another $820 million after a review to be completed by the end of June.
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Egypt’s M&A activity decline by 60% during 2023: PwC
The decline is due to the devaluation of the Egyptian pound against the US dollar, interest rate hikes, and broader economic challenges.
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TSFE aims to complete Misr Pharmacies deal by Q3
The fund plans to execute the deal through its specialized healthcare fund and is currently evaluating the company.
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Russian Company Aims to Invest $1 Billion in Egypt's Mining Sector
The Russian company "Infinity" intends to pump investments into Egypt in the mining sector of about $1 billion.
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Egypt expects IMF agreement to stimulate more foreign financing
Maait added that the rest will come from the World Bank, the European Union, Japan and the United Kingdom.
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PM visits Fresh Electric Factory & announces $8M investments in automatic washing machines production
The prime Minister emphasized that any new investments or expansions from the private sector are a strong addition to the Egyptian economy.
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Egypt aims to procure 3.5 million tonnes of local wheat in 2024
Egypt imported about 12 million metric tonnes of wheat every year from 2017 to 2021: a 2022 report by the United States Department of Agriculture.
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Egypt, Italy sign agreements to back MSMEs, vocational training, and much more
Italy’s Deposits and Loans Fund is providing a total of EUR 145 mn to support MSMEs in Egypt.
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Egypt announces LE 120B soft financing for agricultural, industrial production
The allocated funds will be divided into two categories: LE 105 billion for working capital and LE 15 billion for the acquisition of machinery...etc.
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Egyptian concessions on foreign currencies now at LE8 billion
The proceeds of the concessions on Friday alone amounted to LE224 million, with 65 percent of the total proceeds were from concession of US dollar.
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Nilesat reports 12% increase in profits for 2023
Revenues from operations also increased by 2% to $101.825m, compared to $99.859m in 2022.
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PM visits El Sewedy Electrical Transformers Factory emphasizing role in energy sector, support for local industries
Al-Suwaidi emphasized the company's dedication to delivering high-quality local products that meet international standards.
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Smartphone production is back on the table
The government has been working over the past several years to localize the country’s electronics manufacturing industry.
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Madbouly visits Beko’s $100M factory in 10th of Ramadan City tour
The factory, covering a total area of 114,000 square meters, represents a significant investment of over $100 million.
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Egypt population growth rate declined by 46% from 2017 to 2023
Population growth rate in Egypt declined by 46 percent from 2017 to 2023, Minister of Planning and Economic Development Hala El-Said.
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Egypt to establish an integrated medical city on an area of 230 acres
Egypt plans to establish an integrated medical city on an area of 230 acres on Ain Sokhna Road near the New Administrative Capital.
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Egypt seeks to localize various industries in partnership with private sector
Madbouly highlighted the significant role played by the industrial sector in driving the national economy and its potential to lead development effort
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Egypt considers importing liquefied natural gas to avoid shortage during summer
They said the gas would be routed through an existing facility in Jordan, although Egypt is seeking to establish its own floating terminal.
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Sprints, an Egyptian Edtech Company, Secures $3 Million in Bridge Funding
Established in 2020 by Ayman Bazaraa and Bassam Sharkawy, Sprints is dedicated to addressing the tech talent gap in the MEA region.