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Financials and Investment News

Ajman Real Estate Transactions Total AED7.17bn in H1'23
United Arab Emirates >> 8/22/2023 - The real estate market in Ajman showed robust performance in the first half of 2023 (H1'23), with total real estate transactions surpassing AED7.17 billion.

This figure, which represents a ...
Dubai Logs Over AED2.8bn in Realty Transactions Tuesday
United Arab Emirates >> 8/22/2023 -  Dubai's real estate market recorded 578 sales transactions worth AED2.1 billion, in addition to 132 mortgage deals totalling AED702.33 million, and 12 gift deals amounting to AED19 million, data rele...
E& Capital Leads $5mn Series A Financing Round in Maxbyte
United Arab Emirates >> 8/22/2023 -  e& capital today announced a lead investment in the US$5 million Series A financing round of Maxbyte, an innovator in the field of integrated digital and robotics solutions, to strengthen the company...
IDSC Signs Mou With Microsoft
Egypt >> 8/23/2023 - The Cabinet's Information and Decision Support Center has signed a memorandum of understanding with Microsoft Corporation as part of the Center's efforts to set a roadmap for digital transformation.
CAPMAS: Egypt Ranked 109th Globally In E-Commerce Readiness
Egypt >> 8/23/2023 - Central Agency for Public Mobilization and Statistics (CAPMAS) issued study on " trends of E-commerce in Egypt during the period (2011-2021)", The main indicators are as following:

• China,...
Maait Unveils Reasons Regarding Egypt’s Request to Join BRICS
Egypt >> 8/23/2023 - Minister of Finance Mohamed Maait revealed the reasons why Egypt is requesting to join BRICS economic grouping, which includes Brazil, Russia, India, China, and South Africa.

Maait stated t...
Navigation Through Suez Canal Back to Normal After Broke-Down Tankers Towed: SCA
Egypt >> 8/23/2023 - Navigation through the Suez Canal has been back to normal after tugboats managed to tow the two tankers that slightly collided and broke down in the global waterway, disrupting traffic.

In ...
Dollar Prices Stable at Start of Wednesday's Transactions at Major Egyptian Banks
Egypt >> 8/23/2023 - The exchange rate of the US dollar against the Egyptian pound was stable at the beginning transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the doll...
PM Attends BRICS Summit on Behalf of Sisi
Egypt >> 8/23/2023 - Egyptian Prime Minister Moustafa Madbouli arrived in Johannesburg, South Africa, earlier to attend the 15th summit meetings of the BRICS.

Madbouli is due to attend the summit, themed “BRICS...
Explainer: Four Key Benefits for Egypt As A Member of BRICS
Egypt >> 8/23/2023 - The 15th summit of the BRICS (Brazil, Russia, India, China, and South Africa) is currently deliberating on applications from five countries seeking to join the bloc: Egypt, Saudi Arabia, the UAE, Alge...
Egypt's GAFI Approves Establishing $16.2 Bln Industrial City in Giza
Egypt >> 8/23/2023 - The Egyptian General Authority of Investment and Free Zones (GAFI) has approved an application by GV Investments to establish an EGP 500 billion ($16.17 billion) industrial city near Atfih in the West...
Market Watch: Egyptian Exchange Ends in Red on Wednesday; Gold Prices Unchanged
Egypt >> 8/23/2023 - The Egyptian Exchange indices declined after neutral to positive performance over the first three sessions of the week. Gold prices haven't nearly changed mid-day.

The benchmark EGX30 inde...
AD Ports Group’s Economic Cities, Free Zones And Digital Cluster Enhances Customer Experience
United Arab Emirates >> 8/23/2023 - AD Ports Group has completed a number of initiatives under "The Abu Dhabi Programme for Effortless Customer Experience," a pioneering new model that enables effortless customer experiences across Abu ...
GCC Revealed As Top Export And Re-Export Market for Dubai Chamber of Commerce Members During H1 2023
United Arab Emirates >> 8/23/2023 - Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that the GCC was the top export and re-export market destination for its members globa...
82% of Employees in UAE Open to Employers Investing Their End of Service Benefits
United Arab Emirates >> 8/23/2023 - National Bonds, the savings and investment company, said that 82 percent of employees in the UAE are open to employers investing in their end-of-service benefits.

This insight strongly alig...
Supply Min. Lays Foundation Stone of Strategic Warehouse in Luxor With Cost of EGP 1.5 Bn
Egypt >> 8/27/2023 - Minister of Supply and Internal Trade Ali Moselhy laid the foundation stone of state's second strategic warehouse in the Upper Egypt governorate of Luxor, with total investments of some EGP 1.5 billio...
Dollar Prices Stable st Start of Sunday's Transactions at Major Egyptian Banks
Egypt >> 8/27/2023 - The exchange rate of the US dollar against the Egyptian pound was stable at the beginning transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dolla...
Declining Car Market in Egypt Raises Concerns Amidst Economic Challenges
Egypt >> 8/27/2023 - A tough market has seen vehicle sales in Egypt in the first half of 2023 plummet by 69.8 percent compared to the same period last year, according to a report by the Automotive Information Council (AMI...
Sczone Celebrates Laying Foundation Stone for Chinese “Cady Egypt” With $60 Mln Investments
Egypt >> 8/27/2023 - The General Authority of the Suez Canal Economic Zone (SCZONE) announced, this morning, the laying of the foundation stone for Cady- Egypt factory, which specializes in manufacture of high-end functio...
Foreign Purchases Push EGX 30 to Historic High
Egypt >> 8/27/2023 - The Egyptian Stock Exchange ended Sunday's trading with a collective rise, with the main index EGX 30 recording the highest peak in its history at the level of 18,516 points, up 1.7%.

The i...

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