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Egypt Business Activity Rebounds to 4-Month High
A measure of conditions in the non-oil private sector bounced back to the highest in four months thanks to slower rates of decline in new business.
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Fire breaks out at market in Cairo, destroys shops
No casualties reported.
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Egypt dealing with COVID-19 impacts by increasing investments
El-Said said that in the FY2020/2021 budget, communication and information technology investments have been increased by 300 percent.
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Saudi Telecom Extends Vodafone Egypt Stake Purchase for Second Time
STC needs another two months to complete the purchase of Vodafone Group's 55% stake in Vodafone Egypt.
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Microfinance sector contributes less than 1% of Egypt’s GDP
The microfinance portfolio in Egypt has recorded EGP 26 billion, which is under 1 percent of the country’s GDP of around EGP 4 trillion.
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Egypt intends importing meat from Pakistan
Egypt has shown interest in importing meat from Pakistan and requested to allow an inspection of Pakistani.
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Egypt imposes new fee on imported mobile phones
Egypt’s National Telecommunications Regulations Authority (NTRA) has imposed an extra charge on all imported mobile phones, starting from Wednesday.
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10 things you need to know about technical education
The Ministry of Education dedicates special attention to technical education. With economic developments, there is a growing need for skilled labour.
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Reopening Egypt's economy: The new normal
On 27 June, more than three months after they were imposed, Egypt began lifting many of the restrictions put in place to curb the spread of corona.
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Egypt secures $5.2 billion IMF loan amid coronavirus fallout
The 1 year arrangement, which comes on top of a separate $2.77 billion emergency financing announced last month, aims to boost Egypt’s social spending
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Egypt to see GDP growth slowdown to 4.5% until 2024
Egypt is expected to witness a real GDP growth slowdown from 2020 to 2024 to reach approximately 4.5 percent, down from five percent in 2015-2019.
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Egypt awarded WTTC hygiene stamp
The certification is hoped to boost the country’s tourism.
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Egypt- Public transport companies complain financial losses
The affected companies include Lotus, Ibrahimiyyah, Al Salam, Lebanon, Cairo, Al Heba, Al Rowad, Al Saqr, and Cooperative Association.
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Egypt’s central bank maintains key interest rates
The CBE reported the lowest core inflation ever, coupled, nonetheless, with a contraction in GDP and higher unemployment rates.
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PepsiCo expands in Egyptian market, seeks to expand in North Africa
The company's activities are focused on the manufacture and export of crackers and soft drinks.
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Confusion prevails regarding new electronic tax
Playstations can be taxed up to 60% while selfie sticks and cameras are subject to 20% tax; all this is in addition to a 14% VAT.
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IMF executive board to discuss Egypt’s SBA loan request on 26 Jun
The $5.2 billion loan will support Egypt’s efforts to maintain macroeconomic stability amid the coronavirus shock.
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Chinese company builds 20-tower business district in Egypt
Video story included.
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COVID-19 proves priority of accelerating digital economy
Our infrastructure is still not fully ready to provide digital services to Egypt's population of 100 million.
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SMEs join beneficiaries of financing initiative
CBE added small and medium enterprises to the list of beneficiaries of an GP 100billion initiative to support economy amid COVID-19 crisis.
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Moody's reviews impact of COVID-19 on Egypt's economy
Moody’s Investors Service published a FAO on the impact of coronavirus on Egypt’s event risk, public finances and longer-term credit trends.
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Egypt seen as MENA’s fastest growing economy in 2020 – World Bank
Egypt’s GDP is expected to grow by 3.0% in 2019/20.
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Egypt post-June 2014: Global trust in Egypt’s economy even in times of crisis
Since 2014, Egypt has adopted policies to engage in regional and international partnerships and to open up to all kinds of financing.
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Egypt named one of the top service locations globally
Software development (62%), customer service (29%), and IT helpdesk (24%) are the major service types delivered in Egypt.
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Project: Supply of power generators
Cairo: Supply of 5 No. 80 KW power generators for the heating of asphalt
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Project: machines for printshop
Kalioubiya: Supply of six machines for equipping the company's printshop
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Project: Supply of medical consumables
Cairo: a) C Arm instrument, b) kidney requisites, c) heart catheterization requisites
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Egypt's economy grows 5% in Q3
COVID-19 caused a slowdown in various economic activities.
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Egypt's finance ministry introduces new facilities for financial leasing providers
The new facilities include deducting interests of loans and cash advances from companies’ net profits.
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Egypt private sector increases spending on digital marketing due to COVID-19
It is projected that digital marketing will be the lifeline to stave off global economic on the back of the pandemic.
