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Financials and Investment News

Global Central Banks’ USD Reserves Decline to 59.2% in Q3 of 2023
Egypt >> 12/23/2023 - Global central banks’ reserves of US dollars declined to 59.2 percent during the third quarter of 2023 from 59.4 percent the previous quarter, the lowest figure since Q4 of 2022, according to the late...
Egypt Delivers Training to 18 African Investment Agencies
Egypt >> 12/24/2023 - The General Authority for Investment and Free Zones (GAFI) and the Egyptian Agency of Partnership for Development (EAPD) joined forces to deliver a training programme to workers at 18 African investme...
Egypt's Rice Production Covers Local Consumption for Nine Months
Egypt >> 12/24/2023 - Egypt’s rice production can cover local consumption needs for nine months, Ragab Shehata, head of the Rice Division at the Federation of Egyptian Chambers of Commerce, said

“A kilogram of ...
Egypt’s Exports Drop 22% Yoy in Nine Months
Egypt >> 12/24/2023 - Egypt’s exports dropped 22 percent year-on-year (YoY) to $30.8 billion during the first nine months of 2023, according to data released by the Central Agency for Public Mobilization and Statistics (CA...
Market Watch: EGX Tumbles on Sunday; Gold Prices Reach New Highs
Egypt >> 12/24/2023 - The Egyptian Exchange (EGX) indices tumbled at the first session of the week and the market cap lost EGP 18 billion.

Gold prices are still rising and 21-carat gold achieved a new high at EG...
FTA Issues Guide Outlining Criteria to Determine Natural Persons Subject to Corporate Tax
United Arab Emirates >> 12/24/2023 - ABU DHABI, 24th December, 2023 (WAM) -- The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural persons subject to the Corporate Tax Law, that came into effe...
Hamriyah And Deira Ports Report AED 12.133b In Customs Declaration Value By End Of Q3 2023
United Arab Emirates >> 12/24/2023 - DUBAI, 24th December, 2023 (WAM) – Hamriyah and Deira ports have reported 62,454 customs declarations, totalling AED 12.133 billion, with 19 seizures recorded over the first nine months of this year.<...
Ministry of Economy Organises Final Forum on UAE’s Economic Policy
United Arab Emirates >> 12/24/2023 - DUBAI, 24th December, 2023 (WAM) -- The Ministry of Economy, in cooperation with the Organisation for Economic Cooperation and Development (OECD), organised the final forum on the UAE’s Economic Polic...
Minister of Local Development and Cairo Governor Discuss the Progress of Investment Projects
Egypt >> 12/24/2023 - Minister of Local Development Hisham Amna and Cairo Governor Khaled Abdel Aal discussed the progress of investment projects in various neighbourhoods for the 2023-2024 fiscal year.

During ...
GAFI Trains Cadres of 18 African Countries on Investment Promotion Mechanisms
Egypt >> 12/24/2023 - The General Authority for Investment and Free Zones (GAFI) in cooperation with the Egyptian Agency of Partnership for Development in the Foreign Ministry organized a training program for administrativ...
CBE: 4.7 Million Microentrepreneurs Received Finance of EGP 78 Bn
Egypt >> 12/25/2023 - The Central Bank of Egypt (CBE) announced that some 4.7 million microentrepreneurs received a finance of EGP 78.3 billion till June 2023 compared to a finance of EGP 6.4 billion for two million microe...
Egyptian Startups Moderately Satisfied With Business Climate: Report
Egypt >> 12/25/2023 - Egyptian entrepreneurs are moderately satisfied with various aspects of the business climate, according to a report released by local startup incubation firm Entlaq Holding.

The report find...
Funding for Egyptian Microenterprises Skyrockets 1,123% in 6.5 Years
Egypt >> 12/25/2023 - Financing offered to Egyptian microenterprises surged by more than 1,123%, reaching EGP 78.3 billion in June 2023 from just EGP 6.4 billion in December 2016, according to a press release by the Centra...
Huawei Launches Huawei Cloud for Startups 2024 Programme in Egypt
Egypt >> 12/25/2023 - Chinese technology giant Huawei has unveiled its Huawei Cloud for Startups 2024 programme, designed to accelerate the growth of startups in Egypt, according to a statement by the company.

T...
Dahab Masr, Blnk Partner to Create New Gold Investment Opportunities in Egypt
Egypt >> 12/25/2023 - Precious metals investment company Dahab Masr and Blnk, a fintech company, have signed a strategic partnership to offer gold investments through the Blnk application, according to a press release.
...
Cbe Gives Banks 6 Months to Comply With New Anti-Money Laundering Regulations
Egypt >> 12/25/2023 - The Central Bank of Egypt (CBE) has given banks six months to comply with the updated anti-money laundering and terrorism financing regulations issued on 19 December, according to a circular posted .<...
Sczone Receives $1.85 Bln Investments in Six Months: Chairman
Egypt >> 12/26/2023 - Egypt’s Suez Canal Economic Zone (SCZone) has received $1.85 billion worth of investments between 1 July and 25 December, the SCZone’s Chairman Walid Gamal El-Din stated according to a cabinet stateme...
Infograph: Egyptian Expats' Remittances to Drop 15% in 2023
Egypt >> 12/26/2023 - Egyptian expats’ remittances are expected to have declined by over 15 percent to $24.2 billion in 2023 from $28.3 billion in 2022, according to a recent report released by the World Bank (WB) in Decem...
Egypt’s Decent Life Initiative to Enter Second Stage in FY2024/25: Planning Minister
Egypt >> 12/26/2023 - Egypt is poised to begin the second stage of the Decent Life initiative, comprising a series of countryside-focused national infrastructure projects, in the coming fiscal year 2024/2025, Minister of P...
Tradehub Launches Digital Platform to Support Exports, Local Manufacturers in Egypt
Egypt >> 12/26/2023 - TradeHub, an Egyptian startup, has launched a digital platform to simplify exports and trade operations for local manufacturers, according to a company statement released .

The platform sup...

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