The Ministry of International Cooperation revealed on Wednesday highlights of 2023’s development cooperation programmes under the umbrella of the strategic partnership framework between Egypt and the United Nations Development Cooperation Organization.
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The General Authority for the Economic Zone of the Suez Canal and the French-owned Saint-Gobain Egypt Glass Companies Alliance signed a framework agreement to build a flat glass factory in the industrial zone of Ain Sokhna, the cabinet said on Wednesday.
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Benchmark US crude oil for May delivery fell 33 cents to $81.62 per barrel Tuesday. Brent crude for May delivery fell 50 cents to $86.25 per barrel.
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The state’s general budget for the fiscal year (FY) 2024/25, which begins in July, will increase allocations for health and education by 30 percent, the Egyptian presidency announced on Tuesday.
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France and the European Union (EU) have signed 61.5 mln euro financing agreements to support the development of the Yellow River Water Treatment Plant project in Egypt, the Ministry of International Cooperation announced on Tuesday.
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Egypt's Minister of Petroleum Tarek El-Molla witnessed on Tuesday the signing of two agreements for oil exploration and production in the Gulf of Suez.
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Hossam Heiba, executive director of the General Authority for Investment and Free Zones (GAFI), granted on Tuesday golden licenses to six companies implementing projects worth EGP 5.6 billion (just over $117 million), bringing the total number of projects receiving golden licenses to 29.
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The performance of the Egyptian Exchange (EGX) has fluctuated this week, reflecting a mix of gains and losses, with Sunday and Monday's rise offset by Tuesday's decline.
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Prime Minister Mostafa Madbouly announced on Monday an agreement with private sector manufacturers and merchants to reduce prices of food commodities by 15-20 percent, and then by 30 percent after Eid Al-Fitr, in line with President Abdel-Fattah El-Sisi’s directives.
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Benchmark US crude oil for May delivery rose $1.32 to $81.95 per barrel Monday. Brent crude for May delivery rose $1.32 to $86.75 per barrel.
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The young voices in the messages left for North Carolina Sen. Thom Tillis were laughing, but the words were ominous.
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A presidential decree establishing the Supreme Council of Taxes was issued on Monday, Minister of Finance Mohamed Maait announced.
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Commercial International Bank (CIB) has raised the yields on its new EGP-denominated fixed-rate certificates of deposits (CDs) by two percent, for the second time in two months, up to 24 percent on some of the three-month certificates, according to the bank’s website.
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The Ministry of Petroleum announced on Friday the first fuel price increase of 2024, affecting various octanes and diesel.
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The Central Bank of Egypt (CBE) decided to cancel the scheduled meeting of the Monetary Policy Committee on Thursday in light of the sufficiency of the special meeting of the Committee on Wednesday, 6 March 2024.
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Benchmark US crude oil for April delivery fell $1.79 to $81.68 per barrel Wednesday. Brent crude for May delivery fell $1.43 to $85.95 per barrel.
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The US Federal Reserve voted Wednesday to hold interest rates at a 23-year high for a fifth consecutive meeting, while signaling it still expects to make three cuts this year.
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French construction materials group Saint-Gobain laid on Wednesday the foundation for its third glass factory within Egypt’s Al-Ain Al-Sokhna Industrial Zone, northwest of the Gulf of Suez. The company plans to invest approximately €175 million in the project.
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Benchmark US crude oil for April delivery rose 75 cents to $83.47 per barrel Tuesday. Brent crude for May delivery rose 49 cents to $87.38 per barrel.
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Minister of Finance Mohamed Maait said the state is placing a stringent ceiling of EGP 1 trillion on public investments in the upcoming fiscal year 2024/25, while also capping public debt.
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