News
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Sphinx Glass Partners with DFI in Egypt under Exclusive Distribution Agreement
Sphinx Glass to introduce DFI glass coating technology in Egypt and the Mediterranean North African region.
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With the maturity of 25% CDs approaching, will banks offer up new savings pots?
Owners are interested in the best ways to employ them, and whether public banks will tend to offer CDs with higher returns in retaining this money.
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Suez Canal: 55 Ships Divert Route to Cape of Good Hope due to Red Sea Threats
The Suez Canal is closely following the ongoing tensions in the Red Sea and studying the extent of their impact on the navigation movement.
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Egypt excludes several sectors from spending rationalization plan: Maait
The Egyptian government's decision to rationalize spending will not affect crucial sectors such as health, supply goods, petroleum and gas supplies.
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Egypt’s MOIC launches Hafiz platform to support private sector
The platform will offer a range of 75 services, both financial and non-financial, from 20 different development partners to businesses in Egypt.
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The Egyptian Proptech Startup Changing the Way We Buy Homes
Since 2022, Partment has enabled users to co-own a second home in some of the top destinations in Egypt and Greece.
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Agriculture Ministry Seizes 2,000 Tons of Onions during Inspection Campaigns
There are tens of thousands of tons still in the possession of major traders, and their owners will be forced to put them on the markets.
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Egypt receives $39 bln soft development financing in 2020-2023
Egypt has received $38.8 billion of soft development loans and grants from international development partners between 2020 and 2023.
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Egypt converts King Fouad train station into post office
The office provides integrated governmental, postal, digital and financial services.
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Egypt allocates more than EGP 50B since 2019 to support exporters: Finance Minister
He also added that Egypt has dedicated LE 160 billion to support the agricultural, industrial, and tourism sectors.
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Egypt’s petroleum imports shrink 11.4% in September: CAPMAS
Egypt’s petroleum imports, including crude oil and oil products, dropped 11.4 percent to $1.06 billion in September from $1.2 billion in August.
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Egypt: 5.7% increase in the number of students enrolled in higher education in 2022/2023
3.7 million students enrolled in higher education for the academic year 2022/2023, compared to 3.5 million students in 2021/2022.
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APEX Pharma to build EGP 4 bln in factories in Egypt, Saudi Arabia next year
Elba added that the plan involves constructing a new factory in Egypt with an initial investment of over EGP 1 billion.
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FRA amends resolutions to allow more entities to set up investment funds
This amendment enables closed investment fund companies to issue multiple batches of documents, streamlining the establishment and processes.
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Egypt pays over EGP 13 bln annually in interest rate difference for domestic producers: Minister Maait
Egypt bears an annual burden of over EGP 13 billion due to interest rate differences in loans provided domestically at discounted interest rates.
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BRICS-led dedollarization should alarm the US
Writing for the Atlantic Council, Thomas Hill noted that Egypt, among others, was added to the BRICS club while Algeria and Tunisia were turned down.
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Egypt obtained $38.8B in financing in past 4 years to support SDG progress, Al -Mashat
Rania Al-Mashat stated that the ministry secured $28.5 billion for the public sector and $10.3 billion for the private sector between 2020 and 2023.
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Egypt’s exports to Africa rise 13 percent in 10 months
Egypt’s exports to Africa surged 13 percent year-on-year (YoY) to $6 billion between January and October, Minister of Trade and Industry said.
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IIF projects Egypt’s GDP growth at 3.3% for FY2023/24
Egypt's economy is expected to achieve a real growth rate of 3.3 percent during the fiscal year (FY)2023/2024, which ends in June 2024.
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HSBC forecasts Egyptian pound devaluation to EGP 40-45 against USD in Q1 2024
British bank HSBC projected the Egyptian pound to experience devaluation, reaching EGP 40-45 against the US dollar, during the first quarter of 2024.