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Financials and Investment News

Yalla Group Records Aed561 Million in First Half Revenues
United Arab Emirates >> 8/15/2023 -  Yalla Group Limited today announced its unaudited financial results for the first half of the fiscal year 2023, ending on 30th June.

According to the financial results, Yalla’s H1 revenues...
Cairo, Beijing Keen to Boost Agricultural Co-Operation
Egypt >> 8/16/2023 - Egypt’s Minister of Agriculture and Land Reclamation el-Sayed el-Qoseir and Chinese Minister of Agriculture and Rural Affairs Tang Renjian and his delegation met for co-operation talks.

El-...
UNCTAD: Egypt Comes First in Foreign Investment Flows Into Africa in 2022
Egypt >> 8/16/2023 - The Cabinet's Information and Decision Support Center (IDSC) said the net direct foreign investment witnessed a tangible increase in Egypt in 2022.

A 2023 global investment report, released...
Egyptian Mercantile Exchange Adds Sugar to Traded Commodities
Egypt >> 8/16/2023 - The Egyptian Mercantile Exchange (EME) said it is adding sugar to its list of traded commodities starting Thursday, read a statement on the EME website.

The EME has reached agreements with ...
ITIDA Partners With Germany's GIZ To Boost IT Sector In Egypt
Egypt >> 8/16/2023 - The Information Technology Industry Development Agency of Egypt (ITIDA)signed a memorandum of understanding with the German Agency for International Cooperation (GIZ) to jointly develop the country's ...
Market Watch: Egyptian Bourse Reaches New High on Gold Rebounds
Egypt >> 8/16/2023 - The Egyptian Exchange's main index reached a record level Gold prices rebounded, shrugging off some of the loses on the last two days.

The leading index EGX30 grew by 0.54 percent to end a...
UK Annual Inflation Drops to 15-Month Low
Egypt >> 8/16/2023 - Britain's annual inflation rate dropped sharply in July to a 15-month low, official data revealed Wednesday, off the back of lower energy prices and in line with economists' expectations.

T...
Egypt's Cbe Auctions Egp 86.25 Bln Treasury Bills & Bonds in 6 Types
Egypt >> 8/16/2023 - The Central Bank of Egypt (CBE) auctioned EGP 86.25 billion ($2.8 billion) worth of treasury bills and bonds according to the bank's website.

The CBE auctioned EGP 82 billion in treasury bi...
Ethiopia And Afdb Ink $84.3 Mn Grant Agreement to Enhance Wheat Production
United Arab Emirates >> 8/16/2023 - The African Development Bank Group (AfDB) has awarded grant funding totalling $84.3 million to Ethiopia to advance wheat production and increase farmers’ incomes.

Ethiopia’s Finance Ministe...
Africa Can Become A Key Link in Global Supply Chains: UNCTAD
United Arab Emirates >> 8/16/2023 - African economies can become major participants in global supply chains by harnessing their vast resources of materials needed by high-technology sectors and their own growing consumer markets, the Un...
Mro Middle East And Aime Will Return for Record Edition in 2024
United Arab Emirates >> 8/16/2023 - MRO Middle East and Aircraft Interiors Middle East (AIME) is set to return to Dubai in 2024 for its biggest edition yet, gathering the entire airline supply chain over two days.

The event s...
GDP Up By 0.3%, Employment Up By 0.2% in Euro Area
United Arab Emirates >> 8/16/2023 -  In the second quarter of 2023, seasonally adjusted GDP increased by 0.3 percent in the euro area and was stable in the EU, compared with the previous quarter, according to a flash estimate published ...
DWTC's Hospitality Division Sees 32% Growth in H1'23
United Arab Emirates >> 8/16/2023 -  Hospitality by Dubai World Trade Centre (DWTC) has once again proven its culinary prowess with a stellar H1 2023 performance, coupled with a significant medal haul at the recent Emirates Salon Culina...
PM Reviews River Transport Upgrade Plan
Egypt >> 8/16/2023 - Prime Minister Mostafa Madbouli has underscored the importance of implementing an action plan aimed at developing river transport nationwide.

The development plan comes in implementation of...
Communications Min. Takes Part in G20 Ministerial Meeting on Digital Economy
Egypt >> 8/20/2023 - Communications and Information Technology Minister Amr Talaat took part in India in a G 20 ministerial meeting on digital economy with the participation of ministers of the group as well as nine invit...
EBRD to Approve $125 Mln Loan to Damietta Port’s 2nd Terminal Project in October
Egypt >> 8/20/2023 - The European Bank for Reconstruction and Development (EBRD) is set to approve a $125 million loan to build a second container terminal for Egypt's Damietta Port on 4 October, according to the bank's w...
Egypt Raises Governorates’ Special Funds Budget By 32% to Make Payroll
Egypt >> 8/20/2023 - The Egyptian government has increased allocations to special funds and accounts in governorates, except for Cairo, by 32 percent for the fiscal year 2023/2024, in order to make payroll for state emplo...
Military Factory 270 Under Inspection
Egypt >> 8/20/2023 - Minister of State for Military Production Mohamed Salah Eddin Moustafa inspected the Qaha Company for Chemical Industries (Factory 270 Military), one of the companies affiliated with the ministry.
...
SCA Eyes More South Korean Investment Projects
Egypt >> 8/20/2023 - Chairman of the Suez Canal Authority (SCA) Osama Rabie held a meeting with South Korean Ambassador in Cairo Kim Yong-Hyun and his delegation.

During the meeting, the two sides discussed way...
Sisi Orders Continuing Support to Increase Volume of MSME Enterprises
Egypt >> 8/21/2023 - President Abdel Fattah El Sisi ordered continuing efforts to support the Micro and Small Enterprises Authority (MSEA) with the aim of increasing the volume of its project in a way that meets the needs...

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