News
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IMF: We support Egypt in all measures aimed at introducing economic structural reforms
The IMF supports Egypt in its structural reform measures aimed at improving the Egyptian economy, praising the positive impact of the steps taken.
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IFC’s banking finance network upgrades Egypt’s performance to ‘Advancing’
The matrix provides a measure of progress made at the country level by member institutions to develop a sustainable finance framework.
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Egypt’s FRA & World Gold Council Launch Gold Fund Initiatives
Dr. Farid added that these funds also provide a hedge against price volatility through participation in a structured and secure investment.
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China proposes to build a major textile manufacturing city in Egypt worth $300 mln
The delegation included presidents and representatives of 20 largest Chinese companies and alliances operating in various fields of the industry.
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Egypt’s major commitments under the IMF’s $8 bln expanded loan deal
The fourth through eighth and final reviews are scheduled to be completed every six months, allowing the country to receive around $1.3 bn each time.
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Egypt's Engineering exports record unprecedented high levels
The figures showed that the after Egyptian engineering exports recorded levels that are the highest in the history of Egyptian engineering exports.
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Egypt to cut interest rates by 2 percent in May; inflation to decrease to 20 percent by end of 2024
The CBE's Monetary Policy Committee is scheduled to meet on May 23 to review the key interest rates.
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Egypt wants to increase oil production by 9 percent
The aim is to reach 637 thousand barrels per day, compared to the current 580 thousand barrels.
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Tunisia's COFICAB Company to boost Egypt’s exports, targeting $200M in exports by 2027
This came during the meeting on Tuesday 23/4/2024 with Prime Minister, Mostafa Madbouly to follow up on the company’s recent developments.
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Egypt and African Development Bank finilise programme to strengthen country's entrepreneurial ecosystem
More than 100 businesses and entrepreneurs have benefited from the financial, tax, administrative, and technological advice offered by top consulting.
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Globeleq Completes Acquisition of Stake in Winnergy Solar PV Plant in Egypt
Globeleq, a leading independent power and energy transition company, has finalized the acquisition of a 48.3% equity share in the 25 MWp solar plant.
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TAG Oil commences flow back of BED4-T100 horizontal well
At least 50 tonnes of sand were used per stage in the mechanically propped fracture stages with over 1,000,000 pounds successfully pumped.
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Prices of 18 car brands in Egypt drop by up to 23% since currency floatation
This comes after two years of consecutive price increases due to a suspension of imports and a decrease in supply due to foreign currency shortage.
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Waja Company to set-up e-car factory in Egypt
Saudi Arabia’s Waja Company in JV to build manufacturing plant, leading new energy transition.
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4 Local Egyptian Sportswear Brands to Wear
The Egyptian fashion industry has witnessed a renaissance, where a wave of homegrown talent and creativity produced a wide array of brands.
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Suez Canal Adjusts Licensing, Fines, and Service Fees for Boats
Licensing fees and fines for floating vessels were amended, as it was decided to amend the fees for felucca with oars at 80 EGP or $150 for foreigners
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Austria, Czechia to establish $160 mln sodium cyanide production plant in Egypt
The plant would meet the needs of the local market and export 80 percent of its production to markets in the Mediterranean Basin and MENA.
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Cabinet approves major investments in Ras El Hekma
The Egyptian Cabinet has approved the establishment of a private free zone in Ras El Hekma, known as the Ras El Hekma Urban Development Project.
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Chinese textile alliance explores $300m integrated textile city in Egypt
These companies expressed their desire to invest in Egypt, recognizing it as a crucial market in the Middle East and Africa.
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Boycott campaign in Port Said decreases fish prices
Wissam al-Safty, thanked the rapid response to the campaign which grew until it reached to over 11 governorates in solidarity.