FINANCE & ECONOMY

16 Jul 2020

EIB grants €1.9bn to support Egypt’s public transport, business investment

The European Investment Bank (EIB) approved €1.1bn supporting support, on Wednesday, that will transform public transport in cities across Egypt. The bank will also provide €800m for business investments in the country relating to the novel coronavirus (COVID-19) pandemic.

"...

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16 Jul 2020

Arabia Investments okays CDCM restructure

ArabFinance: Arabia Investments Holding (AIH) will restructure Cairo For Development and Cars Manufacturing (CDCM) by settling the latter's debt with Suez Canal Bank, according to the company's July 15th statement filed to the Egyptian Exchange.

AIH"...

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16 Jul 2020

26% of SMEs suspends activities during January-May due to COVID-19: Report

A total of 26% of small- and medium-sized enterprises (SMEs) worldwide suspended their activities between January and May this year, due to the novel coronavirus (COVID-19).

In some countries, this percentage"...

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16 Jul 2020

New project on Ferchem Masr's land in Monufia

ArabFinance: Ferchem Masr for Fertilizers and Chemicals (FERC) stated that Abu Zaabal Fertilizers and Chemicals Company rented an area of 5,000 square meters from the former's land plot located in Monufia Governorate, according to the company's July 15th statement filed to the Egyptian"...

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15 Jul 2020

El Nasr for Manufacturing to sell its land in Sohag

ArabFinance: El Nasr for Manufacturing Agricultural Crops (ELENA) said Sohag governorate issued demolition license of the company plant in west Sohag, according to the company's March 14th statement to filed the Egyptian Exchange.

The"...

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15 Jul 2020

MSMEDA develops plan to improve SMEs sector post-COVID-19: Trade Minister

The Micro, Small and Medium Enterprise Development Agency (MSMEDA) is developing an urgent plan to improve Egypt’s SMEs sector after the coronavirus (COVID-19), according to Nevine Gamea, Minister of Trade and Industry and Executive Director of MSMEDA,

Gamea"...

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15 Jul 2020

Egypt’s El Ezaby Pharmacies targets regional expansion by 2023

El Ezaby Pharmacies is aiming to expand into a Gulf Cooperation Council (GCC) country and Africa by 2023, according to the company’s Executive Vice President Ahmed El Sadaty.

During a press conference on"...

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15 Jul 2020

Egypt’s venture capital remains most active in MENA region

Egypt remains the most active venture capital market in the Middle East and North Africa (MENA) region during the first half (H1) of 2020, MAGNiTT, MENA’s most comprehensive startup data platform, has announced.

According"...

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15 Jul 2020

Egypt offers reusable face masks in state subsidy scheme

Egypt has started offering reusable cotton face masks at around $50 cents each alongside the food items provided in its state subsidy programme, as it seeks to make protective gear more widely available to curb the coronavirus.

Egypt"...

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14 Jul 2020

15.4% increase in newly-established firms during June: GAFI

CAIRO - 13 July 2020: The General Authority for Investment and Free Zones (GAFI) saw a 15.4 percent increase in the indicators of establishing companies at its affiliate investors service centers during June to reach 1,672 companies, compared with the same month in 2019 when the numbered"...

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