News
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Egypt gov't submits amendments to VAT law to stimulate economy
Egypt’s government has submitted a package of amendments to the VAT law that would exempt the Suez Canal Authority’s services from the tax.
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HSBC Egypt launches EGP 3bn ‘Foras Trade Fund’
Todd Wilcox, Deputy Chairperson and CEO of HSBC Egypt, said: “SMEs are a vital engine of growth for any economy".
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Private sector is crucial to Egypt’s recovery
Large investment projects are keeping the Egyptian economy moving, but a big switch from public to private sector economic activity is needed.
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Egypt’s food exports up by 19% year on year in 2021
Food Africa Exhibition is being held in Egypt’s International Exhibitions Centre for two days from 12 to 14 December with 400 local and intl companies
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Int'l cooperation min. launches cooperation platform
Minister Rania el Mashaat launched a joint coordinative cooperation platform focusing on investment in human capital for sustainable development.
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Bulgaria seeks stronger relations with Egypt
Bulgarian Minister of Economy Daniela Vezieva attends Egypt Defence Expo 2021.
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4,000 people run Pyramids Half Marathon
The half marathon was divided into a 5k race, a 10k race, and a 21k race.
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GM president says Egypt heading to tech-based future
He celebrated the signing of a MOU with Al-Mansour Group to develop Supply chains, evaluate mobility start-ups, and bring electric vehicles to Egypt.
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22.5% decrease in trade deficit during September 2021
Egypt’s exports increased by 36.6% to $3.45bn during September 2021, versus $2.53bn in September 2020.
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Bahrain one of Egypt's most prominent GCC partners
Trade between the two countries amounted during the first seven months of 2021 to about $552 million.
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Egypt’s business sector debt falls by 77% in 3 years
The minister further noted that the original value of the debt in 2018 also included costs such as electricity and petroleum.
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Egyptian economy 2nd largest Arab and African economy by 2022
The IMF expectations of the most prominent economic indicators in the coming years indicate an increase in total revenues as a percentage of GDP.
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Egypt-based celebrity platform Minly acquires Dubai’s Oulo
The acquisition is coming six months after Minly raised a $3.6 million seed round and off the back of an impressive year of growth.
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Egypt inks finance agreements worth $4.5 bln in 2020/21
These agreements provide banks operating in the Egyptian market with finances to on-lend small- and medium-sized enterprises.
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Egypt's net foreign reserves rise to $40.909 billion in November
Foreign reserves have been rising since June 2020, after dropping to around $36 billion from more than $45.5 billion due to the pandemic.
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Egypt to establish EGP 2 bln logistical zone in Dakahlia
Egypt’s Supply and Internal Trade Minister Ali Moselhi announced Tuesday the start of the implementation of this major project to develop trade.
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JUMIA to offer services to merchants with NBE
The New York-listed firm has acquired a new payments license and is cooperating with NBE to expand its services to other online retailers.
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Trade minister probes with Libyan counterpart economic relations
Gamea pointed out to the importance of putting into effect all agreements signed between the two countries for carrying out joint projects.
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Egypt gives primacy to boosting cooperation with Africa
This is in line with the presidential directives that call for encouraging investments and cementing integrated economy.
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Arab Bank announces winners of 1st fintech bootcamp in Egypt
Targeting early stage Egyptian startups, the bootcamp offers entrepreneurs the opportunity to present their solutions to Arab Bank’s innovation hub.