cairo, gmt + 2
Tue, 08 Aug 2023 - 10:27 GMT
This reaffirms the deep-rooted and historical ties between the two sister nations.
Ezz elaborated that Egypt is resolutely enhancing the business environment.
Egypt announces groundbreaking fund and council to drive innovation in the environment-friendly automotive sector.
Chairman of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba told press Monday that strategies are being set to bolster specific sectors.
The driving force behind this growth can be attributed to the devaluation of the Egyptian pound against the US dollar, prompting individuals to secure their funds through more stable investment avenues, capitalizing on the potential for price appreciation.
The approval was granted in accordance with the decision of the FRA's Board of Directors No. 53 of 2018 and its amendments, as well as the decision of the specialized committee of the FRA dated August 6 of this year.
The benchmark EGX30 rose 0.80 percent, or 141.99 points, to end at 17,839.48 points.
Mohamed Abdel Karim, Chairman of the IDA, stated that the expected investments for the project exceed LE 1.2 billion to produce health supplements using the latest global technologies.
Egypt’s exports to Jordan rose 24 percent during 2022, reaching $726.5 million during 2022, compared to $711.1 million during 2021.
Farag added that the initiative has helped the Egyptian economy and stabilized gold prices.
If confirmed, the acquisition deal is expected to be finalized by the fourth quarter of 2023, according to the source, who further added that Zanussi’s sales, maintenance, and technical support operations in Egypt would not be affected.