Trade News
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Sisi, Netanyahu discuss strengthening relations during phone talks
The two leaders expressed their desire to promote bilateral relations between Egypt and Israel in all fields.
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Egypt-Singapore trade up 120% YoY in 2021
Egyptian exports amounted to $505 million, and Singaporean investments in Egypt amounted to $175 million in 33 projects.
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Al-Sisi reviews Egypt’s Sovereign Fund projects, partnerships
Al-Sisi directed that the Sovereign Fund of Egypt (TSFE) should utilise the state’s assets and develop them in a sustainable manner to maximise return
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President El-Sisi Follows-up on the Activities of the Suez Canal Authority
President El-Sisi gave directives to proceed with the implementation of the development strategy of the Suez Canal.
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Laser hallmarking on gold to be applied in Q1-23
The Ministry of Supply and Internal Trade agreed with the Armed Forces to deploy the software system for laser hallmarking on gold.
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Egypt's Damietta port receives 66,000 tons of Russian wheat
The port of Damietta received the bulk carrier "ANNA-S" coming from Russia with 66,000 tons of wheat on board for the Supply Commodities Authority.
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Egypt's engineering exports rise 10% to $3.3 billion in 2022
Egypt's engineering industries exports rose between January and November 2022 by 10 percent to $3.3 billion.
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Stamping and Scales Authority unveils new law for gold manufacturers
Meanwhile, the ministry is discussing the introduction of amendments to Law No. 68 and 91 regarding gold and precious metals.
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Supply Ministry forms operations room to facilitate custom clearance of production supply imports
Operations room includes Ministry of Trade and Federation of Egyptian Chambers of Commerce.
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Central Bank of Egypt ends Letter of Credit system for importing
The CBE announced that it would begin a process of phasing out letters of credit system for import finance by the end of December.
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Egypt to purchase 42,000 tons of cooking oil – GASC
It is part of the state’s plan to increase its strategic stock of cooking oil to be sufficient for at least six months, the GASC added.
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Egypt believed to have purchased Russian wheat
The purchases included two 40,000-tonne cargoes at a price of $339 per tonne, traders said. The supplier is Grain Flower.
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Egypt, South Korea discuss ways to strengthen bilateral cooperation
Ambassador Hong mentioned that since Egypt became an official development assistance (ODA) priority partner country in 2021.
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Egypt, Japan sign second financing tranche of metro line 4
The second tranche will be used to support the implementation of the first phase of Line 4 of the Greater Cairo Metro, with a length of 19 km.
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Egypt's agricultural exports recorded 6M tons in 2022
In a related context, Egypt's exports of frozen strawberry surged by 30 percent in the first 10 months of 2022.
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Gold price soars in Egypt as local currency weakens
Prices have since fallen to 1,545 pounds but it's still a jump from 673.5 pounds a year earlier and a sharp premium versus the current $50-51.
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Egypt’s GASC announces wheat tender
GASC said the tender was to supply 30,000, 40,000, 50,000, 55,000 or 60,000 tonnes, plus or minus 5% at the sellers’ discretion.
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Trade Ministry acting to secure commodities in markets ahead of Ramadan
He touched upon facilities by the government and the Central Bank of Egypt (CBE) to release big quantities of commodities and production supplies.
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Egypt’s supply ministry denies increasing prices of commodities in January
The top official noted that Egypt has a sufficient strategic reserve of commodities, denying any shortage in commodities across the country.
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Government released goods worth $5B from harbors in 23 days
He noted that by the holy month of Ramadan, a cost of $4 billion of merchandise will be released,.