News
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INTERVIEW: Investing in Egyptians key to success, says Egyptian-American Enterprise Fund chair
The US government-funded private equity Egyptian-American Enterprise Fund (EAEF) released its 10-year impact report this week.
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Egypt will allow foreigners to own property with no limits, but with rules
Egypt will allow foreigners to own property with no limits, but according to certain rules, announced Prime Minister Mostafa Madbouly on Wednesday.
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Why de-dollarizing Egypt is easier said than done?
Egypt has been considering importing wheat in exchange for foreign currencies other than the USD, including the Indian rupee and Chinese yuan.
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Egypt establishes huge warehouses for wheat crops
Before the launch of the national silos project, the state incurred losses of about LE10 billion annually due to the quantitative and qualitative loss
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Moody's places a review rating of 5 Egyptian banks
The banks' long-term Counterparty Risk Ratings (CRRs) and Baseline Credit Assessments (BCAs) were also placed on review for downgrade.
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Egypt supplied 93% of the oranges that the EU imported in the first quarter of the year
South Africa has been the main supplier of oranges in the campaign with 46.5% of the total.
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Russia’s AZUR Air to run charter flights to Hurghada
Russian AZUR Air airline announced the launch of charter flights to Hurghada and Sharm el-Sheikh airports from ten Russian cities, starting in mid-May
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Network International launches ‘networkpay’
The networkpay service simplifies payments for merchants, enabling them to accept electronic payments through different channels.
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Egypt ranks as top destination in MEA region for FDIs in 2022
Egypt was able to secure 19 such investments from companies establishing green hydrogen developments.
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Masdar to invest in green energy with developer of Greece-Egypt power link
Copelouzos Group is a conglomerate based in Greece doing business in the sectors of energy, real estate, tourism, advertising and exhibitions.
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EIB grants $15 mln loan to ALEXBANK for Egypt's SMEs green projects
The European Investment Bank (EIB) and ALEXBANK, a subsidiary of Intesa Sanpaolo Group in Egypt, announced the release of a new tranche of$15 million.
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Axis launches its digital payments platform for small businesses
axis has obtained the license from CBE for its open-loop mobile wallet, in partnership with Visa, the world leader in digital payments.
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VIDEO: Japan’s development funding for Egypt reaches $3.9bln
Japan is one of Egypt's most prominent Asian development partners.
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Egyptian Tourism Authority releases new e-learning programme
The online course on the Egypt Specialist trade site has eight interactive modules and an agency resources section.
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Egypt central bank hires Barclays as adviser on sale of its 99% stake in United Bank
The hiring was as the international financial adviser for the sale of its 99 percent stake in the state-owned United Bank
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After 8 year hiatus, Egypt Air cargo flight arrives at Tripoli’s Mitiga airport
The resumption of the cargo flight can be seen as further evidence of increased trade between Tripoli and Egypt.
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Egypt approves draft law to promote green hydrogen projects
Egypt's Cabinet on Wednesday granted approval to a draft law aimed at boosting green hydrogen projects and their related ventures.
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CBE’s financial sector cybersecurity center becomes Egypt’s first to join global cybersecurity forum
EG-FinCIRT's achievement is in line with the Central Bank's strategic focus on strengthening cyber security within the financial and banking sector.
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Egypt and Saudi Arabia record significant increase in trade
The minister provided the details in meetings with the heads of the Egyptian Commercial Service in Saudi Arabia, Germany, Spain, France and Greece.
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Fitch Downgrades 4 Egyptian Banks to 'B' on Sovereign Downgrade; Outlook Negative
We have also downgraded the Government Support Ratings (GSRs) of all four banks to 'b-' from 'b'.