News
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Beltone Leasing mobilizes 20 million USD to support sustainable loans in Egypt
The financing is evenly split between the two funds, each providing 10 million USD.
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Egypt signs contract with China’s Hantong Shipyard to build 2 KAMSARMAX vessels
Each of the two ships will have a total tonnage of 82,000 tons, with a length of 229 meters, width of 32.26 meters, and draft of 14.5 meters.
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Aria Ventures launches $1 million fund to bolster deeptech investment in Egypt
Aria Ventures operates as a venture studio, concentrating on Deep-Technology innovation across diverse sectors.
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Amazon Backs Egypt’s Valu with Equity Stake Following EGX Listing
The move comes amid growing international investor interest in Egypt’s financial sector, despite persistent regional macroeconomic headwinds.
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Prime Minister revokes industrial electricity discount as of 1 July
The revocation reflects the government’s renewed focus on public spending reform and fiscal consolidation, amid mounting financial pressures.
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Citrus tops list of Egyptian agricultural exports, recording 1.8M tons
Citrus and potato crops continuing to dominate the list of Egyptian agricultural exports so far.
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Egypt unveils plan for new desert city megaproject
While officials say these projects are key to Egypt’s long-term growth, they have also contributed to the country’s soaring foreign debt.
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Mobile phone subscriptions in Egypt hit 120mln in 2024
This is accompanied by more than 10% growth in mobile internet usage compared to the previous year.
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Egypt invests EGP 2t to overhaul transport sector
The railway upgrade plan, worth around 225 billion pounds, includes the purchase of 110 new locomotives from General Electric and signalling system.
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CBE announces bank holidays in Egypt
Sunday that all banks will be closed on Thursday, 26 June, for the Hijri New Year and on 3 July for the 30 June Revolution anniversary.
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Egyptian artists ride streaming wave to global success
The report highlights a fivefold increase in royalties earned by Egyptian artists on Spotify since 2022, with a 100% jump from 2023 to 2024 alone.
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Egypt assumes vice presidency of the International Gas Union
Khaled Abu Bakr: The Egyptian program to promote global energy as a basis for economic and social growth is set to be activated.
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Egypt records 77% rise in remittances over 10 months
Between January and April alone, remittance inflows rose 72.3 percent year on year to $12.4 billion, official data from Egypt’s central bank showed.
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Egypt looks to secure more fuel oil in August for power generation
The Egyptian General Petroleum Corporation (EGPC) is seeking about 900,000 tonnes of fuel oil for August delivery in its most recent tender.
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Red Sea Bridge Between Egypt and Saudi Arabia Moves Ahead with $4 Billion Plan
If realized, the structure would establish the first direct land crossing between Saudi Arabia and Egypt, linking two major regions of the Arab world.
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SCZone, Turkish firm ink $20 mln deal to build denim factory in Qantara West
Şirikçioğlu, founded in 1997, is a prominent Turkish denim yarns and fabrics producer and supplies several global brands.
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Egyptian pound faces short-term pressure but steadies by 2025-end
Egyptian pound outlook, economic trends, interest rate cuts, and inflation forecasts offer crucial insights for businessmen in MENA.
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Talks underway to disburse 2nd tranche of European aid to Egypt, worth €4 billion
Egypt in talks for €4 billion in European aid, focusing on structural reforms to boost competitiveness and attract investment.
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Egypt’s tax reform drive boosts revenues by over third
Egypt's tax reforms boost revenue by 36% through incentives and simplification, with plans for more relief.
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SCZone lays foundation stone of $200mln solar energy complex in Ain Sokhna
Egypt's Ain Sokhna gets a $200M solar energy complex, creating over 1,800 jobs and boosting local production.