News
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Infograph: Egyptian expats' remittances to drop 15% in 2023
Egyptian expats’ remittances are expected to have declined by over 15 percent to $24.2 billion in 2023 from $28.3 billion in 2022.
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Why Egyptians are struggling to find their medicines?
Despite the country’s strategic reserve of pharmaceuticals, some Egyptians, especially those with chronic diseases, are still struggling.
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Jordan, Egypt to activate alternative shipping route amid Red Sea navigation halt
Jordan and Egypt have agreed to operate the Arab Bridge Maritime and Land Transport Line between Aqaba and Egyptian ports.
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TradeHub launches digital platform to support exports, local manufacturers in Egypt
TradeHub, an Egyptian startup, has launched a digital platform to simplify exports and trade operations for local manufacturers.
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Madinet Masr Invests EGP 7bn in 2023
Egypt’s developer Madinet Masr held a ceremony to celebrate the fruitful and strategic partnerships with its successful partners.
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EU Mobilizes €9 Bln in Investments to Support Egypt's Economic Development
The EU ambassador said that the economic support program for Egypt to confront the economic challenges facing Egypt as a result of the migration.
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Egypt, China in final negotiations on debt swap agreement
The debt program aims to convert debts owed to China into investments in green projects in early 2024, the official said.
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Egypt Post suspends foreign currency transactions through EasyPay cards
Egypt Post has suspended foreign currency withdrawals and purchases through EasyPay cards, according to SMSs sent to clients’ mobile numbers.
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SCZone receives $1.85 bln investments in six months: Chairman
Egypt’s Suez Canal Economic Zone (SCZone) has received $1.85 billion worth of investments between 1 July and 25 December.
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MCIT ministry sign 30 MoUs to build youth digital capacities
The minister indicated that the first phase of the National Artificial Intelligence (AI) Strategy is almost completed.
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Egypt's medicine stock covers local demand for 6-12 months: Official
Egypt's strategic stock of medicines is enough to cater to domestic consumption for a period of 6 to 12 months.
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Egypt's private sector to drive country’s economic recovery in 2024: Finance minister
Egypt's private sector is poised to drive economic recovery and foster growth in the country throughout 2024.
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Harbour Energy Signs $11.2 Billion Deal For Wintershall Dea Assets
This amount includes the outstanding bonds of Wintershall Dea, with a nominal value of around $4.9 billion that will be transferred to Harbour.
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Dollar prices stable at major Egyptian banks
At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered LE 30.75 for buying and LE 30.85 for selling.
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Egypt’s Decent Life initiative to enter second stage in FY2024/25: Planning Minister
Egypt is poised to begin the second stage of the Decent Life initiative, comprising a series of countryside-focused national infrastructure projects.
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Egypt targets debt-to-GDP ratio to drop to 75% by 2027, Finance Minister
The finance minister expects that the Egyptian economy will have positive growth in the upcoming fiscal year.
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Egypt, Iraq, Jordan working on final plan to start operations on 1st-ever Arab Trade Line
Work is underway to build the Taba–Arish trade/logistics railway corridor, one of seven international developmental logistics corridors in the project
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Egypt’s manufacturing industry index drops about 4% in October
The official data showed a decrease in electrical appliances and medical production.
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Funding for Egyptian microenterprises skyrockets 1,123% in 6.5 years
Financing offered to Egyptian microenterprises surged by more than 1,123%, reaching EGP 78.3 billion in June 2023 from just EGP 6.4 billion.
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Suspending ship passage through Suez Canal an “act of blackmail against Egypt”
This action aims to push Egypt to join the coalition formed by the US to confront Yemeni naval strikes on ships heading to Israel.