News
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Japan’s Yazaki initiates construction of $32.5 mln auto parts factory in Egypt
Japanese car parts supplier Yazaki has announced commencing the construction of its manufacturing facility in Egypt, with an investment of $32.49m.
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US dollar reaches EGP 72 in Egypt's parallel market
The US dollar rate in Egypt’s currency parallel market has soared to a new peak, hitting EGP 72 per USD, multiple sources in the local market reported
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IMF lowers growth expectations for Egypt economy for the 3rd time
The IMF also reduced growth expectations for the year 2025 to 4.7 percent, compared to five percent previously.
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Health Min discusses with General Electric Co Representative Coop in Medical Sector
General Electric contributed to a project to develop old Computed tomography (CT) scanners and develop them using modern tomography technologies.
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The rise of e-commerce in Egypt: Igniting economic growth through SMBs
I have been privileged throughout my career to meet many entrepreneurs; and their boundless energy and passion to innovate never fails to amaze me.
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Conflict in Red Sea will weigh on Egypt’s elevated financing needs; inflation to soar
The Red Sea crisis will further elevate public sector gross financing needs for most emerging markets and middle-income countries in MENA.
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Electricity minister discusses with Siemens officials boosting cooperation
Shaker commended distinguished and unique relations between the two sides in the different electricity fields, according to a statement.
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Madbouly calls for national council to localize electronic chip manufacturing industry
ITIDA head, Al-Zaher, explained that there are currently around 60 companies operating within this field in the country.
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Health Min Discusses with Johnson & Johnson challenges, Opportunities Available to Boost Cooperation in Medical Applianc
This comes on the sidelines of Arab Health Medical Expo held on January 28-February 1 in Dubai.
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Infographic: Egypt Real GDP Projections for 2024
As Egypt is facing a tough economic situation, various global economic institutions have given different projections for Egypt's real GDP growth 2024.
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Cleopatra Hospitals Group to invest EGP 2 bln in Egypt's healthcare sector
Cleopatra Hospitals Group (CHG) announced plans to invest EGP 2 billion to expand in the Egyptian healthcare market in the next 18 months.
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Communication Min Heads to Hungary to Enhance Cooperation in IT Fields
Minister of Communications and Information Technology Amr Talaat headed on Tuesday 30/1/2024 to the Hungarian capital Budapest, on a two-day visit.
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Central Bank of Egypt to convene amidst ongoing pound decline
The gap between rates is widening, the rate reaching approximately EGP30.85 in banks and up to EGP68 in the parallel market
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High demand for oranges from Egypt
Egypt has little presence on the French and European markets but this year, the drop in production is forcing the sector to turn to other origins.
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NileSat registers $44mln net profits in 2023
Revenues amounted to EGP 101.82 million last year, up 1.97% from EGP 99.85 million in 2022, according to the financial results.
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Standard Chartered Bank launches operations officially in Egypt
The UK-based multinational Standard Chartered Bank has officially commenced its banking operations in Egypt.
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Egypt Explores Green Hydrogen Cooperation With Czech Republic
Egypt aims to attract foreign investments in the green hydrogen sector, leveraging the strategic location of the Suez Canal Economic Zone for exports.
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The Know How: Localizing the Locomotive Industry in Egypt
The government seeks to localize the locomotive industry in partnership with the private sector to curb import in the future.
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Banque Misr introduces new USD debit card allowing purchases up to $20,000
Egypt's state-owned Banque Misr (BM) has issued a new debit card exclusively for US dollar accounts, named Visa Platinum, enabling account holders.
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Saudi Arabia's recent ban on strawberry imports not exclusive to Egypt
Importers with valid permits are receiving their shipments without hindrance, indicating that Saudi Arabia is regulating imports from all countries.