News
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Egyptian consumer money app Telda raises $20M
Egypt's private consumption accounts for nearly 85% of its nominal GDP, and only 4% of its overall GDP is cashless.
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India seeks to increase trade exchange with Egypt to US$ 2 billion
Indian Foreign Minister Subramaniam Jaishankar announced that his country is seeking to increase trade exchange with Egypt by up to two billion dollar
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India, Egypt to now explore opportunities in renewable energy, trade
India and Egypt have stepped up defence and security cooperation and will explore opportunities in renewable energy, trade, tourism and connectivity.
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Egypt seeks to push forward key IMF deal
The Ukrainian crisis led foreign investors to pull nearly $20 billion out of Egyptian treasury markets in a matter of weeks.
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Debt reduction, not currency stabilization, is Egypt’s goal
Egypt's debt represents 80 percent of the country’s gross domestic product, which is a low percentage compared to the global level.
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Egypt’s trade deficit drops 28.7% YoY in July
The value of Egyptian exports increased by 2.2% year-on-year (YoY) to $3.13 billion in July 2022 from $3.07 billion.
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Egypt’s economy more capable of green recovery
Egypt seeks to lure more development investments, especially in the green projects, through giving more opportunity to the private sector.
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Egypt raises natural gas prices for cement, petrochemical industries
The decree also set the price of natural gas supplied to the petrochemicals industry for the production of the ethane-propane mix to a minimum of $4.5
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Al-Sisi follows up on establishing unified national network for emergencies
The president directed the integration of the network with development and service projects.
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Egypt-Ghana trade deal to help reach $100 bn exports
This is the first trade deal to be signed in light of the AfCFTA, which came into force on January 2021.
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NBE, Banque Misr raise interest rates on dollar certificates
The yield of golden certificates (three-year term starting from $500) will reach 5.30% annually, 5.25% biannually, 5.20% quarterly or 5.15% monthly.
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Egypt Banks set withdrawal limits on using ATM cards abroad
Banks spotted manipulation practices from some companies and individuals using their cards to withdraw foreign exchange abroad.
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Patement proptech Platform raises $1.5 million
Partment offers a hassle-free solution for second home co-ownership through the digital platform and smart booking system
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Egypt plans to expand car tire industry
The expansion will happen locally, in cooperation with one of the major Italian companies specialised in the field.
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EgyptAir elects CyberSource as its anti-fraud platform
This agreement seeks to ensure the cyber safety of EgyptAir customers and guard them against any potential information theft.
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Egypt top destination for EBRD investment in region
The EBRD’s volume of investments in Egypt – a founding member of the bank – stands at nearly one billion Euros annually.
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Egypt to host 'Finance Day' on November 9
The 'Finance Day' will be held amid the activities of COP27, slated to be held in the Red Sea resort city on November 6-18.
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How will Egypt’s decision to maintain interest rates, raise reserve requirement affect the economy?
CBE recently decided to keep interest rates unchanged and raise the Reserve Requirement (RR) ratio for the first time in five years.
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Tourism Ministry looks to enhance cooperation with Messe Berlin
The meeting was attended by various officials from both sides along with representatives from Russia and Italy.
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Private sector’s contribution to Egypt’s economy 70-75%
President Abdel Fattah El-Sisi affirmed that the state is keen to remove all obstacles facing investors.