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World’s largest spinning factory in Egypt set to see light by H2-22
The inauguration of the world's largest spinning and weaving factory in El-Mahalla El-Kubra is in the second half (H2) of 2022, expected the the Egyptian Ministry of Public Business Sector
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Egypt’s ICT startups attract $390m new investments in nine months
The startups in the information and communications technology (ICT) sector attracted investments worth $390 million during the first nine months of 2021, compared to $190 million a year earlier,…
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CBE issues rules for instant payment network services
The Central Bank of Egypt's (CBE) board of directors approved the regulations governing the instant payment network (IPN) services in Egypt as part of its efforts towards reducing the usage of cash in…
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Egypt’s President directs gov’t to expand into green economy projects
he Egyptian Minister of Finance, Mohamed Maait, said that President Abdel Fattah El-Sisi directed the government to expand into green economy investments in a bid to achieve comprehensive and…
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Suez Canal to raise transit fees by 6%
The Suez Canal Authority (SCA) will raise transit fees by 6% in 2022, the authority's Chairman, Osama Rabie, said.
The decision will be applied as of February 2022 on all ships, excluding tourist…
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UK’s investments in Egypt reached GBP 50bn, British Ambassador
The British investments in Egypt are estimated at about GBP 50 billion, British Ambassador to Egypt, Gareth Bayley, was cited as saying in a TV interview.
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EBRD sees Egypt’s economy growing 4.9% in FY21/22
The European Bank for Reconstruction and Development (EBRD) expects Egypt's economic growth to accelerate to 4.9% in fiscal year (FY) 2021/2022.
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Egypt repaid $15.8 billion in foreign debt in FY2020/21: c.bank
Egypt repaid $15.8 billion in foreign debt throughout the financial year 2020-2021 ended last June, the central bank said in a monthly report .
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Egypt’s building material exports hit $4.68bn in nine months
Egypt's exports of building materials amounted to $4.683 billion during the first nine months of 2021, the Minister of Trade and Industry, Nevina Gamea, said
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Egypt’s private sector may launch $ 120-200 mn in corporate green bonds, Minister
Egypt’s private sector is preparing to take to market USD 120-200 mn in corporate green bonds, Planning Minister Hala El Said said during COP26 climate summit in Glasgow yesterday.
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