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Egypt’s real estate portfolio valued at $200 billion, ready for international export
In 2022, Egypt launched an initiative to export real estate with an aim to bolster the local property market and increase foreign currency reserves.
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Normalization in ties between Türkiye, Egypt spurs tourism surge
This revival caused the significant increase in the number of tourists traveling to Egypt from Türkiye, thanks to the visa facilitation process.
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Egypt textile circularity programme concludes
The SwitchMed III initiative was funded by the European Union (EU) and implemented by the United Nations Industrial Development Organization (UNIDO).
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Cash, Microfinanza launch $2.4 million project to support Egyptian entrepreneurs
Egypt-based Cash for Microfinance, a subsidiary of Beltone Holding, has partnered with Microfinanza Italia to launch a $2.4 million project.
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UN study warns of potential $20bln economic loss for Egypt amid Gaza conflict escalation
Under the least severe scenario, the projected cost to the Egyptian economy would decrease to $5.6 billion for the current and the upcoming FYs.
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Samsung starts first factory in Middle East, Africa to boost Egypt's manufacturing sector
Jung detailed that the factory's current production capacity stands at 6 million units annually, encompassing televisions, mobile phones, and tablets.
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Four Egyptian banks receive positive outlook on improved foreign currency liquidity
These revisions reflect reduced pressures on these banks' capital ratios in the upcoming FY2024/2025.
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EgyptAir expands Cairo-New Delhi service to daily flights
EgyptAir, the national carrier of Egypt, is set to expand its Cairo-New Delhi service to daily flights, up from the current four flights per week.
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The tourist flow from Russia to Egypt in January-April increased by 15%
Egypt plans to increase the foreign tourist flow annually by 25% in order to reach the figure of 30 million tourists by 2030.
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Al Ahli Bank Of Kuwait – Egypt Records EGP 3.2 Billion Net Profit In The First Quarter Of 2024
Net Interest Income increased by 71% to reach EGP 1.4 billion by the end of March 2024 compared to EGP 841 million over the same period in 2023.
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Global inflation raises Egypt’s import bill by $4 bln monthly
Egypt's import bill rose by $4 billion per month due to the rise in global prices, increased shipping costs, and exchange rate fluctuations.
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Egyptian doctors raise concerns over bill to lease government hospitals
Abdel-Hay expressed the Medical Syndicate’s welcome to encourage the private sector to participate in providing health services.
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Entlaq Company wraps up Dutch Startups Matchmaking Program in Egypt
Ehab stated that this program represents an investment opportunity for companies, workers, and investment institutions.
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Korean Delegation to Meet with Egyptian Gov't, Chamber of Commerce for Economic Cooperation
The accompanying Korean delegation includes a group of Korean businessmen and CEOs of 19 companies operating in 11 fields.
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Egypt aims to attract 60 million tourists annually
Egyptian Prime Minister Mostafa Madbouly announced that his government aims for the tourism sector to attract 60 million tourists annually.
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Egypt signs land access agreement for world’s largest wind farm project
Egypt signed on Wednesday a land access agreement with an Egyptian-Emirati consortium to build a 10GW capacity onshore wind farm in Upper Egypt.
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ADQ to commence construction work in Ras El Hekma Project before end of 2024
El-Gazzar highlighted that the project’s developer has established the plans, secured ministerial decisions, and acquired the necessary licenses.
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SCZone Aims to Attract 1,000 Chinese Companies by 2030, Says Chairman
This came during his meeting Friday, with a delegation from the Chinese city of Tianjin, inside the industrial developer TEDA.
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Egypt’s Customs Authority returns tariff on expatriate gold
The head of the Customs Authority Al-Shahat Ghatouri told Al-Masry Al-Youm We returned as it was before the exemption decision because it ended May 10
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PM: Economic reforms based on several sectors topped by industry
This came during the premier’s tour of a number of industrial and technological projects in the Upper Egypt governorate of Beni Suef.
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Orange Egypt Opens Submissions for 2024 Social Venture Prize Competition with an Opportunity to Win Prizes Up to €50,000
This prestigious competition invites three Egyptian startup businesses to vie against enterprises from the Middle East and Africa for a share of €50K.
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Egypt in talks to secure $1.2B from IMF's Resilience and Sustainability Facility
This came during a meeting between the Egyptian Minister of the Environment, Yasmine Fouad, and the IMF's resilience and sustainability mission.
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Egypt’s entrepreneurship sector attracts over $2B in investments during past 4 years
Madbouly highlighted the establishment of a dedicated unit for entrepreneurship and emerging companies.
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SCZone successfully attracts 128 projects worth US$6 billion within two years
It was the fruitful cooperation with industrial developer TEDA-Egypt that built bridges of trust between the SCZone and chinese companies.
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Egypt joins the International Agency for Research on Cancer
The International Agency for Research on Cancer (IARC) is pleased to welcome Egypt as its 29th Participating State.
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Egypt’s cabinet to set up a unit dedicated to state-owned companies
The unit will work to implement the state ownership policy with clear timelines and targets.
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Cairo University leads 20 universities in Egypt among world's best in 2024 CWUR ranking
The rankings, which feature 2,000 universities worldwide, highlight the historic Cairo University's position as the leading institution in Egypt.
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Egypt procures 2.8 mln tons of wheat in local harvest so far
Egypt, one of the world's biggest wheat importers, has procured 2.8 million metric tons of wheat, compared to its target of 3.5 million tons.
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Military Production Minister stresses interest in enhancing cooperation with Chinese companies
Mostafa’s remarks came while receiving representatives from China’s Famsun Group Company in the ministry’s headquarters in the NAC.
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African Tourism Forum 2024 in Egypt will boost tourism
The Sharm El Sheikh International Conference Center in Egypt is set to host the first edition of the African Tourism Forum 2024 (ATF24Egypt) on May 20