News
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IMF head expects increase to Egypt’s $3 bln loan over ongoing challenges
Kristalina Georgieva expects the fund to increase the value of the loan provided to Egypt due to the impact of external factors on its economy.
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Madinaty hosts ‘Forever Is Now’ exhibition
Running from 2 to 9 December, the exhibition is overseen by the Ministries of Tourism, Antiquities, and Foreign Affairs.
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SODIC Has Developed Egypt’s First Certified Green Business Park
SODIC's Eastown District New Cairo is the first business park in Egypt to be awarded the EDGE Advanced Green Building Certification.
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IFC partners with Al Baraka Bank to support Egyptian MSMEs
IFC partnered with Al Baraka Bank Egypt to offer $50 million in finance for Egyptian micro, small and medium-sized enterprises.
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CAPMAS: Egypt‘s Exports to Cyprus Jumps 20.3% to $70.5 Mln
The report stated that the value of Egyptian imports from Cyprus amounted to $8.4 million during the first nine months of 2023.
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Lowest FOB offer at Egypt wheat tender at $250/T -traders
The lowest free-on-board offer presented at an Egyptian state purchasing tender for wheat on Tuesday was $250 a metric ton, traders said.
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Moharram & Partners announces new CEO for Africa, MENA regions
With a wealth of experience from holding key roles in various organizations, Hala Abdel Wadood is poised to be a valuable asset to the group.
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Goldwind installs the first wind turbine for a wind farm in Egypt
Goldwind has completed the assembly of the first wind turbine for the 504MW Gulf of Suez II Wind Farm in Egypt.
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Central Bank of Egypt sells $990 mln USD-dominated T-bills
CBE sold on Monday $990 million in USD-denominated treasury bills (T-bills) with a one-year maturity, according to the bank’s website.
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MSMEDA finances 1.9 million small, micro-projects with EGP 48.3bn in President Al-Sisi’s tenure
The agency allocated EGP 25bn for micro-projects, benefiting around 1.713 million projects and providing 2.53 million job opportunities.
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Egypt is considering issuance of Masala bonds worth $50M in 2024
Maait said he hopes to raise between $500 million and $1 billion through sustainability bonds in 2024.
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Egypt’s PMI for non-oil business rises in November for sixth time in 2023
Egypt’s Purchasing Managers Index (PMI) for the non-oil private sector rose slightly in November to 48.4 points compared to 47.9 points in October.
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NTRA launches initiatives for persons with disabilities
On the occasion of the International Day of Persons with Disabilities (IDPD), which falls on 3 December, NTRA announced several initiatives.
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120% surge in loan services payment push Egypt’s budget deficit higher
Egypt’s budget deficit rose to 3.85 percent of GDP during the first quarter (July-September) of FY 2023/2024, up from 2.05 percent.
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Valu and GSK Launch First-of-its-Kind Partnership in the Egyptian Pharmaceutical Industry
Valu and GSK aim to create a more inclusive and equitable healthcare ecosystem, aligning with their shared vision of advancing public health.
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Egypt, AFC to boost climate action and green economic recovery
The Minister expressed Egypt's willingness to enhance the contribution of AFC to providing financing to Egyptian heavy industries.
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Global giant MasterCard, Egypt’s MDP sign strategic alliance to enhance e-payments
Global payment technology company MasterCard has entered into a strategic alliance agreement with the Egyptian digital payment company MDP.
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Egyptian guava and mango exports to EU triple in last 5 years
From January to September 2023, nearly 1,500 tons of mango and guava were imported from Egypt to the EU.
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Egypt’s tax revenues jump around 35% in Q1 of current FY2023/24
Egypt’s tax revenue jumped 34.83 percent on an annual basis during the first three months of the new fiscal year (FY) 2023/2024.
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PayTabs partners with mnGm to initiate card acceptance for gold purchases online in Egypt
This collaboration introduces card acceptance for gold purchases online for the very first time in the country.