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Business
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Economy
1/15/2024 12:31:56 PM
Egypt has received requests worth over $6 billion from international and Gulf investors, expressing their interest in obtaining new licenses to invest in renewable energy projects, Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), said on Sunday.
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Business
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Economy
1/14/2024 8:56:58 PM
Egypt's Initial Public Offering (IPO) programme, which commenced in February 2023, has attracted $3.5 billion in investments so far, Minister of Finance Mohamed Maait said on Sunday.
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Business
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Economy
1/14/2024 3:16:03 PM
Beltone Financial Holding’s subsidiary Beltone Asset Management has announced the launch of a new gold investment fund in collaboration with investment company Evolve Holding, read a statement on the Egyptian Exchange (EGX).
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Business
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Economy
1/14/2024 1:54:04 PM
The Egyptian government is expected to increase the minimum wage for government employees and pensions – currently stand at EGP 4,000 and EGP 1,300, respectively – within two months, Samir Sabry, Rapporteur of the Investment Committee at the National Dialogue, said on Saturday.
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Business
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Economy
1/13/2024 7:28:38 PM
The Egyptian government is preparing to introduce a social protection package that encompasses various improvements, including wage and pension adjustments and an increase in the tax exemption threshold, said Minister of Finance Mohamed Maait, according to a Cabinet statement on Saturday.
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Business
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Economy
1/13/2024 12:56:34 PM
ADQ, an Abu Dhabi-based investment and holding company, and ADNEC Group signed on Friday definitive agreements for the strategic acquisition, through a capital increase, of a 40.5 percent stake in the leading Egyptian real estate developer Talaat Mostafa Group's hotel arm, ICON.
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Business
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Economy
1/11/2024 10:36:34 PM
Wall Street is slipping Thursday after a warmer-than-expected report on inflation forced some investors to push back forecasts for when the Federal Reserve could deliver long-sought cuts to interest rates.
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Business
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Markets & Companies
1/11/2024 8:58:41 PM
The Egyptian Exchange main index (EGX30) achieved humble growth in the second week of 2024 as investors move slowly, awaiting progress in Egypt’s negotiations with the International Monetary Fund (IMF).
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World
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International
1/11/2024 8:38:26 PM
The US Federal Aviation Administration (FAA) announced a new investigation into Boeing's quality control on Thursday, after a near-catastrophic incident last week involving an Alaska Airlines-operated 737 MAX.
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Business
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Energy
1/10/2024 2:03:53 PM
A consortium led by the Saudi-listed water desalination company ACWA Power signed on Wednesday a usufruct agreement to invest $1.5 billion in a 1.1 MW wind project in Egypt, according to a statement by the Egyptian cabinet.
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War on Gaza
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War on Gaza
1/10/2024 12:27:13 PM
The International Criminal Court (ICC) confirmed Wednesday it is investigating possible crimes against journalists during the ongoing Israeli aggression on the besieged Gaza Strip, Palestinian news agency WAFA reported.
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Business
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Economy
1/9/2024 5:00:32 PM
The Egyptian government launched in January a comprehensive eight-direction economic strategy for the period 2024-2030, the document of which tackles several aspects of economy and quality of life.
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Business
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Economy
1/9/2024 4:59:44 PM
The Egyptian General Authority for Investment and Free Zones (GAFI) signed a contract with Maxim Investment Group (MIG) to establish the country's first medical and health resort, with $1.5 billion in investment, according to a Cabinet statement on Tuesday.
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Business
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Economy
1/8/2024 7:31:33 PM
Egypt is set to establish a company focused on managing real estate export and leasing activities. The company is planned to generate between $2 and $3 billion in revenues, read a report by the cabinet's Information and Decision Support Centre.
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Business
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Markets & Companies
1/8/2024 6:42:35 PM
Egypt's Financial Regulation Authority (FRA) has approved setting a minimum capital requirement of EGP 15 million for fintech startups looking to engage in one of the non-banking financing activities, according to a statement released on Monday.
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Business
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Economy
1/8/2024 2:13:11 PM
Egypt plans to increase its annual foreign currency revenue from exports, tourism, remittances, foreign direct investments (FDIs), the Suez Canal, and outsourcing services to $300 billion in 2030 from around $100 billion, according to a government document released this month.
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Business
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Economy
1/6/2024 7:05:33 PM
Egypt’s current account deficit decreased by 12.1 percent to $2.8 billion during the period between July and September 2023, compared to $3.2 billion a year prior, according to the data released by the Central Bank of Egypt (CBE) on Thursday.
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Business
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Markets & Companies
1/6/2024 4:49:07 PM
Egypt Ventures, the first government venture capital company, has invested over EGP 383.5 million in 205 startups over seven years since its inception, according to a Cabinet statement on Saturday.
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Business
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Economy
1/5/2024 6:52:32 PM
Head of the European Union delegation to Egypt Christian Berger said Friday that the EU will organize a conference to highlight investment opportunities in Egypt.
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Sports
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World
1/4/2024 7:49:14 PM
Erik ten Hag said he held "very positive" talks with Jim Ratcliffe when the under-fire Manchester United boss met the club's new minority stakeholder this week.
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