06:31
cairo, gmt + 2
6 May
Monday, 2024
Sat, 04 May 2024 - 12:51 GMT
State Minister of Emigration Soha Gendy said that the total value of payment orders of those benefiting from the initiative of cars for Egyptian expats reached 2 billion dollars.
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That was in a meeting with Prime Minister Mostafa Madbouli Wednesday.
In the last quarter of the current fiscal year, LE 715.7 million has been allocated to pay the entitlements of employees within the funds and accounts, accounting for the recent increase, as stated by the Minister of Finance.
The sectors focused on the meeting were electronics, electrical appliances, textiles, oil and gas, nuclear energy, iron and steel, petrochemicals, manufacturing subway cars, and importing Egyptian agricultural products.
This deal marks HiTech Apparel's first venture in both the Middle East and Africa and is poised to create approximately 1,500 employment opportunities within the region
Under the MoU, the UK Export Finance, which serves as the British export financing agency, will provide financial support for a range of projects in close coordination with GAFI
In terms of year-over-year performance, automobile sales in March experienced a decline of 37 percent. This was primarily driven by a decrease of 41 percent in passenger car sales.
Wednesday trading saw 542,64 million shares exchanged with a turnover of LE 2.42 billion
Demand for jewelry and bullion in Egypt experienced a significant decline of 17 percent during the first quarter of 2024, falling to 13.2 tons from the 15.8 tons recorded in Q1 2023
The solar energy project will be implemented in two phases and has already secured a cooperation agreement with the Ministry of Electricity. Funding for the project will be sourced from renowned international financial institutions.
The deficit continues to decline due to increased inflows of remittances and foreign portfolio investments, including the second payment of the Ras El Hikma deal in early March.
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