Business - Markets & Companies

Three Egyptian banks to launch investment trust for fintech start-ups

The National Bank of Egypt (NBE), Banque Misr and Banque du Caire aim to launch a trust in October to support fintech start-ups with an overall capital worth EGP 100 billion, the Central Bank of Egypt (CBE) announced on Monday.

ITIDA, Plug and Play sign agreement to boost Egyptian startups

Plug and Play is one of the world s leaders in managing innovation hubs

Huawei Technologies has invested $10 mln over 5 years in innovation centres in Egypt

Song elaborated that the platforms continue to provide Egyptian customers and partners with innovative ICT solutions that meet local needs.

Volvo EMEA, VOLVO Egypt teams at Ezz Elarab Automotive Group celebrate leap in sales this year

During the first eight months of 2021, the Egyptian sales and marketing team established a remarkable success in sales of the Swedish brand, surpassing sales achieved for the entire year of 2020

Global Finance lists National Bank of Egypt, Banque Misr among world’s 50 safest banks

The two national banks ranked ninth and 10th, respectively, as the safest banks in Africa

Egypt’s banking sector has sizable foreign currency reserves allowing policy maker to mitigate pressures on Egyptian pound: Goldman Sachs

In September 2020, Goldman Sachs said that it expects Egypt s hard currency inflows will increase and that the Egyptian pound will maintain its stability

Egypt will not impose new taxes on stock market operations: Finance minister

The manual is meant to clarify the procedures of imposing taxes on trading securities to facilitate the process for taxpayers and traders and to promote transparency, said Maait

Amazon officially launches platform and warehouse in Egypt

The launch came a month after the online shopping titan had announced its intention to have an official presence in Egypt

Amazon inaugurates logistics centre in Egypt

The inauguration was attended by high-profile figures, including Egyptian Prime Minister Mostafa Madbouly

IKEA eyes business expansion in Egypt

Serguei made his statements during the congolomerate s annual press conference held on Wednesday to launch its new products and its new trade campaign

Uber raises prices in Egypt due to fuel price hike

According to an email sent to their clients, the fare prices for its Uber X and Uber comfort in Cairo and Alexandria have increased

Egypt tops MENA in start-up deals, second in investments during July: Wamda

Start-ups in the region raised almost 632 million in July through 77 deals which is a record-breaking month on the back of Kitopi s 415 million Series C round, according to the report

TikTok bumps up video length to 3 minutes

'With longer videos, creators will have the canvas to create new or expanded types of content on TikTok, with the flexibility of a bit more space,' product manager Drew Kirchhoff said in a post

Air Canada operates first non-stop flight between Cairo, Montreal

The Boeing 787-8 Dreamliner aircraft was announced to be designated for the Cairo-Montreal route

Asian shares edge lower after mixed finish on Wall Street

Stocks edged lower in Asia on Tuesday after a mixed finish on Wall Street, as investors weighed the risks of inflation against signs the recovery from the pandemic is gaining momentum

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