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Government to develop comprehensive investment map through IT

The Ministry of Investment holds talks with the Ministry of Communications and Information Technology to develop a comprehensive investment plan through information technology (IT), according to a statement of the Ministry of Investment issued on Monday. Minister of Investment and International Cooperation Sahar Nasr and Minister of Communications and Information Technology Yasser Al-Qadi discussed on Sunday the mechanisms for implementing …

Daily News Egypt

The Egyptian Stock Exchange in session. (DNE PHOTO)

EGX could attract falling Saudi investments, experts say

Saudi stock exchange has been witnessing huge losses for the second week respectively. According to a report issued by Al-Hayat news website, Tadawul—the stock market of Saudi Arabia—lost more than $3.5bn due to declining demand. The report added that the liquidity in the market declined by 18%, affecting the Tadawul All Share Index (TASI) negatively. …

Hisham Salah

Ministry of Investment opens one-stop shop in Sohag

Minister of Investment Dalia Khorshid opened a new one-stop shop for investment services in Sohag on Sunday with the presence of the Minister of Petroleum, Tarek El-Molla, and Sohag governor Ayman Abdel Moneim. The one-stop shop will serve all investment companies in Sohag and neighbouring cities Qena, Luxor, and Aswan. “It will offer company establishment …

Farida Ismail

We aim to reduce government investment as a share of GDP: El-Araby

Minister of Planning Ashraf El-Araby said that the government aims to reduce government investment as a share of the gross domestic product (GDP) within its plan to control government spending and tackle the budget deficit. The government’s investment allocations amounts to EGP 150bn (equivalent to 4.4% of GDP) in the budget of the current fiscal year (FY), compared …

Daily News Egypt

Careem becomes MENA’s second unicorn, raises $350m

  Ride-hailing app Careem announced closing an initial investment round of $350m, as part of a $500m funding round. The investment of $350m was co-led by Japan’s Rakuten Inc. and telecom operator Saudi Telecom Company (STC). Up until now, investors in Careem include Abraaj Group, Al Tayyar Group, Beco Capital, El Sewedy Investments, Endure Capital, …

Daily News Egypt