News
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Egypt's Commercial International Bank buys 51% of Kenya's Mayfair
CIB is the first Egyptian bank to venture into the Kenyan market.
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Saudi Telecom Extends MoU To Acquire Stake In Vodafone Egypt
The MOU has been extended for 90 days.
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CNN reviews Egypt's economy in 60 seconds
CNN stated that Egypt’s economy grew 5.6 percent in 2019, making it one of the world’s fastest growing economies.
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Paris wheat futures rise after Egypt buys from France
Egypt's state grain buyer GASC said it bought 240,000 tonnes of wheat in an international tender, including 180,000 tonnes of French supplies.
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Egypt to raise public investments by EGP 10 bln
Taxpayers can get their financial dues without submitting tax position statements to Egypt’s Tax Authority due to the coronavirus crisis.
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IMF official: Egypt's anti-COVID 19 measures decisive and support economy
The LE 100 billion stimulus package, announced by the government, has been meant to boost the national economy during the crisis.
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Business community endorses ‘Stay at your factory, protect your family’
Businesspeople are being asked to bear the costs of accommodating workers for a period of 14 days, equal to the period of quarantine.
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Egypt is food secure
Experts say Egypt has sufficient food reserves to last for many months to come.
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Egypt allows free zones’ projects to sell 50% in local market
For a six-month period, the companies can sell any of their products except banned items.
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Egypt's Financial Brokerage Group keeps top spot in March with 19.7% market share
The total market capitalisation reached $33.8bln in March.
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Egypt's airlines to lose $1.6 billion owing to coronavirus
African and Middle Eastern airlines have lost $23 billion due to the spread of the virus, the association said.
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STC suspends Vodafone Egypt finance talks
Saudi operator STC paused talks with banks regarding a $2 billion financial package to cover an acquisition of Vodafone Group’s Egyptian business.
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Egypt launches strategy to protect sustainable development goals
The 'New Global Partnerships Narrative' will be based on three major planks: People At The Core, Projects in Action, and Purpose As The Driver.
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Egypt exempts taxpayers from admin fees on income, VAT dues
This came also in light of the Central Bank of Egypt’s new working hours, which end at 1:30pm.
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Egypt sets daily limit for deposits, cash withdrawals temporarily
It also decided a daily limit for deposits and cash withdrawals from ATM machines at LE 5,000.
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Egypt considers fund to support informal economy workers amid virus outbreak
The funding for the proposal is set to come from either the state budget or other sources, as well as the emergency fund of the Manpower Ministry.
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Top 15 Inspiring Egyptians of the Decade in Business and Entrepreneurship
Dame Nemat Shafik, Naguib Sawiris, Mona Zulficar, Tarek Amer and Mohamed Al-Erian are on the list.
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Egypt's tax authority extends tax return submission for second time
Reda Abdel-Kader told Ahram Online that the authority extended the due date previously to 9 April instead of 31 March for individual taxpayers.
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Currency black market re-emerges in Egypt as coronavirus spreads
Some unofficial trades were taking place at 16.15 pounds to the dollar, compared to the 15.75 pounds offered by currency exchange bureaus and banks.
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CBE launches electronic payment initiative to curb corona virus
The initiative also enables new and existing bank customers to make transfers, purchases and cash withdrawals from ATMs for free.