News
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Trading on Egypt's commodity exchange to start in Q1 of 2023
Ashmawy noted that the commodities that will start trading have been identified, such as wheat.
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Suez Canal Bank accepting applications for 4th Launch SaaS
The bank supports start-ups that provide innovative solutions in areas of digital transformation, fintech, and climate change.
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Egypt considering listing Universal Healthcare Insurance in exchange
This is to diversify its investment portfolio and increase the yields of invested funds, Minister of Finance and UHIS Chairman Mohamed Maait said.
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Egypt’s PM checks on government complaints system
We are keen to continuously monitor the processing of complaints by relevant government agencies: PM.
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Saudi PIF sets up unit to invest in Egypt
SEIC will invest in priority sectors including but not limited to, infrastructure, real estate development, health care and financial services.
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Egypt to produce Nokia phones locally
Talaat said that this agreement comes out of the state’s efforts in creating a supportive climate for the growth of international company investments
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Egypt's current account deficit widens in Jan-March
The figures showed that a net $14.75 billion in portfolio investments left the country in January-March.
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Egypt, Djibouti discuss developing trade exchange, joint investments
Djibouti represents strategic depth for Egypt in Red Sea region, says Djibouti Trade Minister.
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Cartona raises $12M to scale and explore new verticals
Cartona was present in three Egyptian cities; it’s now in 11. The investment will allow them to cover all of Egypt.
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Egypt's M2 money supply up 23.4% y/y in June
Money supply stood at 6.61 trillion Egyptian pounds ($349 billion), up from 5.35 trillion pounds in the same month last year.
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Egypt focused on training youths for current labour market
Some jobs will be replaced by technology, however, new jobs will appear in their stead.
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US dollar price nears 19 EGP at Egypt's major banks
The US dollar exchange rate registered 19 EGP at the Central Bank of Egypt while it neared 19 EGP at the beginning of Monday's transactions.
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Egyptian expats’ remittances grow 2.1% YoY
Remittances sent by Egyptian expats went up 2.1 percent year on year in the first 11 months of the past 2021/2022 fiscal year.
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FRA receives requests to establish agricultural, climate change investment funds
Authority suggests amendment to regulation to provide sustainability, green bonds: Omran.
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Adnoc Distribution to acquire 50% stake in TotalEnergies Egypt
The partnership with TotalEnergies, includes a diversified portfolio comprising 240 fuel retail stations, 100+ convenience stores, among others.
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National Bank of Egypt, Banque Misr achieve profits of over $5bln
The statements also indicated that NBE achieved net profits after taxes of EGP 29.7bn, as the bank paid EGP 36.3bn in taxes to the state treasury.
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Egypt’s home delivery workers: Toward integration in the formal economy?
Egyptians who work as home delivery couriers – known in Arabic as tayareen, face hard working conditions and enjoy minimal social protection.
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The Fashion Kingdom raises $2.6M in seed funding
Not only does the platform enlist products of all these brands for customers’ viewing and buying pleasure, but it also provides ancillary services.
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Egypt to achieve growth rate of 5.5 percent
the Ministry of Planning and Economic Development issued a report on the economic and social development plan for the fiscal year (23/2022).
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Switzerland offers $1.8 bln for Aswan water project
Swiss Ambassador in Cairo Yvonne Baumann announced that the Swiss Agency for Development and Cooperation (SDC) would offer a grant worth USD 1.8bln.