News
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OCI Global Receives Methanol Bunkering Permit in Egypt
In an effort toward shipping decarbonization, OCI Global has been granted the first methanol bunkering permit for fuel supply in East Port Said and West Port Said.
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Microsoft Egypt to Provide Advanced AI Models, Boost AI Ecosystem
Mirna Arif, General Manager of Microsoft Egypt, intends to build a robust AI ecosystem while providing organizations with the most advanced AI models to enhance productivity and growth.
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Used Car Market Skyrockets in Egypt Amidst Growing Prices of New Ones
Due to the alarmingly high prices of new cars in Egypt, the used car market is experiencing a rapid boom. A combination of economic challenges has led to this change.
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Egypt keen on furthering joint cooperation with China
Egypt is eager to strengthen its strategic ties with China, aiming to boost economic, trade, and investment cooperation, says Trade and Industry Minister Ahmed Samir.
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Egypt: Edita secures $12.60mln loans to finance new investments
The EGX-listed firm will use the proceeds of the facility to finance 50% of the acquisition amount related to Fancy Foods.
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Egypt to expand oil and gas production from Zohr gas field
The government of Egypt aims to substantially increase the production of oil and gas within the Zohr field.
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Egypt chairs Arab delegations to 7th Arab-China Cooperation on Energy
Deputy Minister of Electricity and Renewable Energy Osama Asran will lead the Arab delegations in the 7th Arab-China Cooperation Conference on Energy, to be held in Hainan, China.
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Fertiglobe and AD Ports to collaborate on logistics projects in Egypt and UAE
Fertiglobe is a partnership between ADNOC and OCI Global, the world’s largest seaborne exporter of urea and ammonia combined.
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Egypt's New Wage Increase Effective from October 1
The new wage and pension increment in Egypt implemented from October 1 are the latest measures announced by President Abdel Fattah al-Sisi.
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Beni Suef power station to be sold to foreign investor
According to informed sources, the final buyer of the station will have to pay off the loans of international creditors, which amount to nearly $2.25b
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Operator of Egypt’s new capital plans 10% local market listing in H1 2024
Administrative Capital for Urban Development (ACUD), the operator of Egypt’s new capital, is planning to offer up to 10 percent of its shares.
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5th edition of Sharm Rendezvous Insurance Forum kicks off
The 5th edition of Sharm Rendezvous Insurance Forum commenced under Prime Minister Mostafa Madbouly, with 980 experts from 33 countries participating.
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Foreigners invest $1.5trln in Arab projects in 20 years
Morocco was ranked third with FDI of $15.3 billion, followed by the UAE with nearly $10.8 billion and Egypt with $10.6 billion.
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Egypt’s trade with G20 countries hit $88 bln in 2022
The trade exchange between Egypt and G20 countries reached $88 billion in 2022, up 10 percent from $80.1 billion in 2021.
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A new search begins for Queen Cleopatra’s tomb beneath the Mediterranean sea
Scientists believe that her tomb may be located in the depths of the Mediterranean Sea, off the coasts of Alexandria.
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Value of Egypt's imports of mobile phones rise to $564K last June
Egypt's imports of mobile phones declined significantly last May, then rose to $564K this June, reflecting a marginal increase, according to data.
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Egypt's Zohr field gas output shrinks by 11 percent in FY 2022/2023
Gas production in the giant offshore Zohr field went down by 11 percent in fiscal year 2022/2023: Egypt's Petroleum and Mineral Resources Ministry.
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Financial Regulatory Authority mandates pricing regulations for insurance companies
The Financial Regulatory Authority (FRA) has mandated insurance companies to price their policies to enhance market efficiency and fairness in pricing.
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Egyptian expatriates to receive social protection, assures assistant minister
Egyptian expatriates are set to gain social protection, particularly following crises in Libya, Morocco, Russia, and Ukraine, confirmed Assistant Minister of State for Immigration and Egyptian Expatriates, Amr Abbas.
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CBE governor participates in 47th session of council of Arab central banks
Fruitful discussions regarding the organization of specialized banking forums in Egypt, Tunisia, and Qatar were held during the session.