News
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Egypt Signs MoU with Romania's “CIS” to Support Implementing Natural Gas Networks
The memorandum of understanding was signed by Mohamed Fathi, Chairman of Town Gas, and the General Manager of the Romanian CIS Gaz Company.
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Egypt’s Beltone to acquire majority stake in National Seeds Company
Beltone Capital is in the process of acquiring a 51 percent stake in the National Seeds Company (NSC) for EGP 150 million.
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Egypt’s foreign financing decreases by more than a third in 2023
The volume of development financing provided to Egypt last year amounted to $13.7 billion, an increase of 37 percent over the previous year.
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Shipping firms redirect vessels from Red Sea as Houthi attacks increase
The Houthis have been attacking ships in the Red Sea in response to Israel's war in Gaza, targeting a route that would take ships through the Canal.
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Egypt extends contract with Lukoil for Eastern Desert oil concession
Egypt extends Lukoil's contract for the West Esh El-Milaha oil field, boosting production and attracting significant foreign investment.
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EGX reportedly studying new upgrade to trading system to address tampering concerns
The main objective will be to address concerns surrounding tampering with the auction session, a critical factor influencing the closing price.
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Xmatch attracts over $20 mln in potential investments for Egypt’s SMEs, startups
Xmatch Demo Day has secured more than $20 million in potential investments for Small and Medium Enterprises (SMEs) and startups in Egypt.
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Egypt advances six places globally in fixed internet speeds in November
Egypt has climbed six places in global rankings for fixed broadband internet speeds, sitting at 77th place, with a speed of 64.53 megabytes per second
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After a 15 day pause, Egypt’s banks resume fees on issuing cards and opening accounts
Banks operating in Egypt on Sunday resumed collecting fees on opening accounts (current or savings), adhering to the minimum account balance.
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In landslide victory, Abdel Fattah al-Sisi has been elected the next president of Egypt
Candidate Abdel Fattah al-Sisi, symbol of the star, received 39,702,451 votes, or 89.6 percent of the total valid votes – a landslide victory.
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Telecom Egypt receives offers for network towers up to $250M
Telecom Egypt intends to sell approximately 2,500 out of its 2,800 owned communications towers.
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Egypt anticipates onion price drop
This forecast comes on the heels of an exorbitant price hike that saw onions selling for over EGP 40 per kilo.
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Egypt to build integrated urban project on state-owned lands: Minister
The Egyptian government will build a comprehensive urban project on 2,000 acres in southern Cairo previously belonging to the state-run Iron and Steel
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Egypt seen keeping interest rates on hold on Thursday
Many analysts believe Egypt will wait until January, well after the Dec. 10-12 vote, before hiking interest rates or devaluing the currency.
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Egypt eyes $11.5bn as annual medical tourism revenues
Egypt intends to launch an electronic platform to provide tourism services within 3 months.
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Egypt's finance minister confirmed that the country will implement financial policies that support the industrial sector
Egyptian Finance Minister Mohamed Maait mentioned the launch of a national programme for the production of environmentally friendly cars.
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Egypt’s ACUD promises to offer new green building incentives by end of 2023
Administrative Capital for Urban Development (ACUD), the operator of Egypt’s new mega capital, is set to offer new green building incentives.
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UK: "Next challenge on strawberries will be the increase in duty charged on imports from Egypt"
According to Ben last year importers then moved to Spanish supply and Germany took up the Egyptian volumes.
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EIB, AfDB support launch of African Pharmaceutical Technology Foundation
Africa advanced efforts to develop an independent drug industry after Rwanda agreed to host the African Pharmaceutical Technology Foundation (APTF) .
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Egyptian banks increase people of determination ATMs by 23 percent: CBE
The number of ATMs with features supporting people of determination in Egypt surged by nearly 23 percent to 4,950 in December from around 4,000 in Jan