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Egyptian ride-sharing company Swvl plans to go public in a $1.5B SPAC merger
Swvl plans to go public in a merger with special purpose acquisition company Queen’s Gambit Growth Capital, Swvl said.
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Banking consortium brings European education to Egypt
The project will cost more than EGP 900 mln and will establish branches of universities such as University of London and Central Lancashire to Egypt.
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EJB announces African Junior Business Initiative
The initiative aims to create partnerships between companies, especially emerging ones, and small and medium enterprises in countries of the continent
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Egypt, Singapore discuss CIT cooperation
Two countries previously signed agreement establishing partnerships to spread public awareness on AI, transfer knowledge.
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CBE launches EGP 100 bln mortgage initiative
low and middle-income individuals will have access to secure loans from banks and mortgage companies with a decreased interest rate of 3 percent.
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Steel plant saves around €70,000 with spherical roller bearings from NSK
By adopting the recommendations set forward by NSK, the steel plant is now saving €69,803 per annum in reduced costs.
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Egypt-South Sudan trade exchange hits $707,000 in 2020
The main items of the trade exchange include vegetables, fruits, sugar, glass, and cotton.
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Events platform Bevy acquires Egypt’s Eventtus
The acquisition means Eventtus’ 20 engineers will now join the Bevy team, alongside Egyptian founders Mai Medhat and Nihal Fares.
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Sisi directs officials to develop public business sector assets
He underlined the importance of ensuring the best management of assets to protect public funds and state-owned lands.
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Egypt’s Suez Canal reports record revenue
Egypt’s Suez Canal revenue rose to a record $5.84 billion in its 2020-21 financial year (July-June).
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Spanish companies eye expanding investments in Egypt
Spain’s Trade Minister Xiana Méndez Bértolo applauded the Egyptian economy’s positive growth during the COVID-19 pandemic.
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Vodafone & E-Tadweer strive for a greener society
The E-Tadweer platform, in partnership with the Ministry of Environment, aims in collecting e-waste, works towards reducing deteriorating health risks
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Egypt hotels expect more than 44% occupancy
A report by Colliers International predicts big increases in Egypt's hotels occupancy in Cairo, Alexandria, Sharm El-Sheikh and Hurghada.
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Egypt moves to regulate tuktuk
The government wants to regulate tuktuks by national licensing system and nudging drivers to convert to natural gas-powered minibuses.
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Kenya seeks to bolster ties with Egypt
The Kenya National Chamber of Commerce and Industry started talks to revive a framework for strengthening bilateral cooperation for Egypt.
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Trade exchange bet. Egypt, Malaysia records $503M
the list of imported and exported goods between the two markets includes vegetables, fruits, herbs, spices, phosphates, fertilizers, among others.
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Egypt’s ITIDA and Atos sign agreement
With this agreement, Atos and ITIDA aim to accelerate the development of the digital sector in Egypt and create new employment opportunities locally.
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Egypt among 130 countries to reach deal to combat tax evasion
Under that OECD/G20 inclusive framework on BEPS, 139 countries and jurisdictions are implementing 15 Actions to tackle tax avoidance.
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MaxAB raises $40m for expansion
Founded in November 2018 by Belal El-Megharbel and Mohamed Ben Halim, MaxAB’s platform manages procurement and grocery delivery to shops in Egypt.
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Egypt to release online e-visa
Travelers are required to apply online, the application process takes a few minutes, then an approval letter is sent visa email.
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Egypt to develop roads west of Cairo
Egypt’s Prime Minister Mostafa Madbouly has reviewed the plan to develop the road network and axes in areas west of the Greater Cairo Governorate.
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Sisi approves law on FY 2021/22 state budget
the public expenditures for the FY 2021/22 stood at about $157.0 billion while the state's revenues are estimated at about $88.8 billion.
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Egypt's NPPA applies for construction permits for El Dabaa plant
A permit is being sought for full-scale construction for units 1 and 2 of the El Dabaa nuclear power plant.
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Egypt's January-June tourism revenues were $3.5-4 bln
The country's revenues from the vital sector were about $4 billion in 2020 amid the coronavirus pandemic, down by 70% from $13.03 billion in 2019.
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Trade exchange bet. Egypt, Iraq rises 36%
The minister said that the value of Egyptian exports to Iraq in 2020 amounted to $421.7 million, compared to $411.4 million in 2019.
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Egyptian billionaire, Onsi Sawiris dies at 90
His death in the Egyptian resort city of El Gouna was announced Tuesday by the Sawiris family, which didn't give a cause.
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Egypt to launch 3rd stage of exporters support programme
Finance Minster Mohamed Maait said that the action comes in implementation of President Abdel-Fattah El-Sisi’s decision to back exporting companies.
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Egypt, Jordan discuss cultural exchange
The officials discussed a number of cultural events that the two countries will hold in the days to come, foremost of which is the Jarash Festival.
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Egypt announces success of negotiations with EAEU
The agreement is expected to boost regional and intra-trade between Egypt and central and north Asia and Europe through the Eurasian Economic Union.
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Minly raises $3.6m
The platform closed a seed round, oversubscribed at $3.6m led by 4DX Ventures, Global Ventures and B&Y Venture partners among many others.
