News
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South Cairo and Giza Mills swings to profitability in 6 months
The company’s sales grew to EGP 106.85 million in the July-December period of last year from EGP 72.75 million the year before.
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Planning Minister participates in the 7th conference of investors in MENA
Al-Said pointed out that the strong nature of the cross-current requires policymakers to make a “barter” in policy-making.
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What does it mean for an index to “rebalance”?
Last month, the Egyptian Exchange released new criteria for inclusion in the EGX30 in a bid to make the benchmark index more attractive for investors
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Remco’s standalone losses drop 88% YoY in 9 months
Remco is an Egypt-based company that operates in tourism and entertainment projects development and construction.
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Egypt's CIB takes full ownership of Kenyan lender Mayfair
The acquisition has been approved by the central bank and will take effect on Jan. 31.
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Careem, iCheck, and Cargas partner to convert cars to natural gas with payment facilities
iCheck succeeded in converting 1,000 cars to run on clean energy in Sharm El-Sheikh before COP27.
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Egypt spends LE 42.5B in export support for 2,500 companies
Minister of Finance, Mohamed Maait, stated that these initiatives help provide the necessary cash liquidity to ensure the rotation of the economy.
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Uber announces new rates in Egypt
The increases in Uber services also included the Uber X Saver Service, so that the cost of the start of the trip became nine LE instead of LE7.80.
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Egypt Central Bank: Pound slips to new low against dollar
Many banks within Egypt were trading at 30 Egyptian pounds for $1 earlier this month.
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The African Space Agency’s headquarters is set to make a landing In Egypt’s New Cairo
Egypt has been taking big steps towards participating in the field of space with many key space-related events taking place during the past two years.
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Egyptian banks' high-yield certificates of deposit pull in EGP 460 billion
Proceeds from the 25 percent and 22.5 percent saving certificates of deposit offered by Banque Misr and the NBE garnered EGP 460 billion in a month.
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Cleopatra Hospitals’ shareholders greenlight capital reduction
The new capital will be distributed over 1.44bln shares instead of 1.60bln shares.
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Obour Land posts 31.85% YoY growth in 2022 consolidated profit
At the level of the standalone financial statement, the company recorded a standalone net profit after tax of EGP 462.69 million in 2022.
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Africa looks forward to return of Chinese tour groups, with Egypt, South Africa and Kenya first in line
Qin discussed increasing Chinese tourism to Egypt with Egyptian President Abdel Fattah El-Sisi and the country’s foreign minister, Sameh Shoukri.
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Sandoz Egypt Pharma and Ibnsina Pharma ink strategic partnership to improve patient access to OTC Products
The availability of over-the-counter (OTC) products is essential to improve the level of healthcare provided to patients.
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Abu Qir Fertilizers’ profits hike to $381mln in H1-22/23 unaudited financials
Furthermore, the earnings per share (EPS) soared by 124.88% to EGP 4.79 in H1-22/23 from EGP 2.13 in H1-21/22.
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IFC, Al Tadamun Microfinance partner to support women’s small projects in Egypt
The foundation will help designing and piloting a programme that targets projects and companies run by women.
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Egyptian Cabinet approves new controls to support industrial sector
The trade and industry ministry also suggested that projects delayed due to the Covid-19 pandemic would be exempted from fines for 4.5 months.
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Tax observatory denies imposing additional taxes on educational certificates
The “stamp tax” is as it is, and that the ministerial decision issued by the Ministry of Finance regulates only the dates of its supply.
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S&P Global Ratings maintains Egypt credit rating at B with stable outlook
Finance Minister Mohamed Maait hailed S&P’s decision, saying it reflects the international institutions' confidence in the Egyptian economy.