News
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Wealthy GCC investors targeting Egypt for real estate investments
GCC nationals have been purchasing residential properties in Egypt for an average of around $1.1 million.
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Egypt's Annual Inflation Slows To 31.2% In January Amid Looming Devaluation
Prices rose by 1.7% in January compared to December, up from 1.2% in the previous month.
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Ruins of ancient Ptolemaic temple discovered in Egypt
The temple dates to the Ptolemaic dynasty, which began about two decades after Alexander the Great died in 323 B.C.
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Latest edition of Cairo International Book Fair concludes with record number of visitors
The 55th session of the Cairo International Book Fair ended on Tuesday with nearly five million visitors – achieving the largest public turnout.
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President Sisi Raises Minimum Wage by 50%
President Abdel Fattah El-Sisi directed to raise the minimum wage by 50%, reaching 6,000 pounds per month.
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National Bank of Egypt increases interest rates for certificates in 2024
The change in the return rate on the NBE certificates of deposit came on Sunday, with the previous interest rate of 19.5 percent rising to 21.5.
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Egypt commences 2nd phase of economic reforms: PM
In recent years, the government has provided support amounting to approximately EGP 15.3 billion to small, medium, and micro enterprises.
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Record sales in 2023 – real estate developers secure LE 700B in sales
Topping the list of the most popular real estate locations was East Cairo, with the report pointing towards expansions in Al-Mostakbal City.
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Foreign exchange shortage a key challenge now for Egyptian economy: ECSS experts
The US dollar shortage in the local market is really serious, as manufacturers and businesspersons can set neither their expense plans nor wages.
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Serbia's NeoMedica to make hematology reagents in Egypt
NeoMedica will transfer its know-how to Egypt and supervise the whole production process.
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Saudi Arabia Lifts Restrictions on Egyptian Strawberry Imports
The decision was not a ban of strawberry shipments for quarantine or health reasons, but its content is to regulate the internal KSA market.
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SCZONE's revenues increase to LE 4.3B in H1 2023-24
This represents an increase of approximately 70 percent compared to the same period in 2022, where the revenue was LE 2.6 billion.
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Egypt, Tunisia discuss cooperation in water sector
The meeting took place on the sidelines of the fifth Mediterranean Water Forum, which is held in Tunis from February 5 to 7.
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Egypt's commodity exports recorded more than $35bln in 2023: Industry minister
He attributed the increase in exports to the high demand on Egyptian commodities after opening new markets for exports.
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Bonyan acquires 8th commercial asset in REDCON Properties’ Golden Gate Project
This is in line with Bonyan’s strategy of acquiring trophy commercial real estate assets cementing its position as the leading real estate company.
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Hong Kong’s InvestHK selects Egypt as North Africa representative office's headquarters
Egypt has set an ambitious plan to secure $100 billion in direct foreign investments between 2024 and 2030.
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Egypt to receive final bids to acquire Wataniya within 48 hours
Furthermore, the government plans to finalize the sale of the Jabal El Zeit wind power plant by the end of March 2024, as stated by El Said.
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Egypt commits to accelerated digitalization
With a mobile phone penetration rate of around 95% and an Internet penetration rate of 49%, Egypt is Africa’s ICT giant.
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Egypt to invest $94mln in metal industries
Egypt has approved plans to invest nearly 2.9 billion Egyptian pounds ($94 million) in new metal industrial projects during fiscal 2023-2024.
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Madbouly discuss with Samsung Electronics means to pump more investments in Egypt
Prime Minister Mostafa Madbouly said that he is looking forward to more investments of Samsung Electronics company in Egypt in the coming period.