News
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Commodity Prices in Egypt to Decline by the Weekend: PM
Egyptian Prime Minister Mostafa Madbouly announces a price cut expecting in several major commodity groups by Saturday. The planned price fall ranges from 15%-25%.
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500 Global in Egypt announces scale up program’s first batch and showcase event
Program for Pre-Series A and Series A Startups Begins with 3-Day Founder Retreat.
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Amenli Raises $1 Million Equity Funding Round
Egypt-based insurtech, Amenli, has secured a fresh $1 million equity funding round led by Alter Global.
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China's Xiaomi launches new smartphone in Egypt
Chinese smartphone giant Xiaomi has unveiled its latest device, the 13T, in Egypt. The new device, which features a 50MP camera and updated imaging algorithm, was launched at a ceremony in Cairo.
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Egypt to suspend customs on essential goods for 6 months: PM
Prime Minister Mostafa Madbouly, in collaboration with the Ministry of Finance, announced that the government will suspend duties on essentials.
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Egypt first to achieve 'gold tier' status towards hepatitis C elimination
Egypt stands as the first nation to reach 'gold tier' status in eliminating hepatitis C, per WHO's guidelines, thus targeting a full elimination of mortality and incidence by 2030.
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Egypt aims to capture 5-8% of global green hydrogen market: Electricity Minister
Egypt's Electricity Minister, Mohamed Shaker, reveals that the country is finalizing its strategy for low-carbon hydrogen production. Egypt plans to secure 5-8% of the global green hydrogen market.
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First Desiro HC Electric Multiple-Unit Arrives in Egypt
Siemens Mobility delivers the first of 94 Desiro High Capacity electric multiple-units to Egypt on September 25, marking a significant milestone in Egypt's railway modernization initiative.
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Egypt plans oil projects worth $4.5bln
According to the report, the strategy also focused on “turning Egypt into a regional oil and gas marketing centre.”
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ITIDA CEO participates in Techne Summit, shares agency’s efforts in supporting local startups
ITIDA's CEO, Eng. Ahmed Elzaher, emphasizes the agency's efforts to support Egypt's young startups at the Techne Summit 2023.
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US Dollar Price Stabilizes on Monday in Egypt
The price of the US dollar remained stable against the Egyptian pound on Monday according to the Central Bank of Egypt and other banks. Click to read more about the currency rates.
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IMF/WBG annual meetings kick off in Marrakech with Egyptian participation
The annual meetings (autumn meetings) of the International Monetary Fund (IMF) and the World Bank Group (WBG) kicked off on Tuesday in Marrakech.
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Egypt, France probe bolstering economic ties
Egyptian Minister of International Cooperation Rania Al-Mashat has met with the French Minister of State for Development Chrysoula Zacharopoulou.
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EGP to lose 18.6 percent of its value by end of 2023: Fitch Solutions
Fitch Solutions expected that the Egyptian pound will be devaluated by 18.6 percent to reach around EGP38 against the US dollar by the end of year.
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Egyptian firm launches $4.5bln housing project
A key Egyptian developer on Friday launched a giant residential city project at a cost of around 140 billion Egyptian pounds ($4.5 billion).
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Egypt's Vegetable and Fruit Exports Dropped in Early October
Egypt sees a decline in vegetable and fruit exports in the first week of October, with a 5% decrease for vegetables and 18.1% for fruits compared to the last week of September.
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Inhabited Land in Egypt Has Doubled Since 2014
Between 2020 and 2023, the Egyptian government has sold 80,000 acres of land worth EGP 6.5 billion.
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Egypt’s tourism revenues increased by 26.8% in FY 2022/2023
Egypt's tourism sector saw an impressive rise of 26.8% in revenues in FY 2022/2023, with strategic governmental efforts leading to an influx of 7 million tourists in the first half of 2023.
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Indian investments in Egypt reach $3.2 bln: Trade minister
Indian investments in Egypt amounted to $3.2 billion distributed in 52 projects in several fields including food industries, chemicals, and tourism.
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FRA reviews compulsory purchase offer submitted to Dice Sport & Casual Wear
Egypt's Financial Regulatory Authority (FRA) is reviewing a compulsory purchase offer for a portion of capital shares of Dice Sport & Casual Wear. The cash price per share set at LE 0.65.