TRADE-

EGP for TRY? Officials from Egypt and Turkey’s central banks will meet next week to discuss using local currencies in bilateral trade,reports Asharq Business, citing the Egyptian Commercial Representation Service’s Yahya Al Wathiq Billah. “Egypt suffers from a shortage of the USD, and so does Turkey,” he told the news outlet, explaining that both countries are looking to reduce their reliance on the greenback. Local currencies could account for between 25-30% of the total bilateral trade in the event of an agreement, the official added

Warming economic relations: Egypt wants to boost trade volumes with Turkey by 50% to USD 15 bn in the next five years, Trade Minister Ahmed Samir said in August. Turkish investment in Egypt currently amounts to USD 2 bn, according to Asharq, citing Trade Ministry data. The two countries recently agreed to restore diplomatic ties for the first time in a decade.

HEALTHCARE-

#1- Rology just got access to the US market: AI-assisted teleradiology platform Rology will now be able to market its teleradiology platform in the US after receiving clearance from the company’s regulator, it said in a statement (pdf) last week. This is the first platform of its kind to be cleared as safe by the Food and Drug Administration, according to the statement.

What they said: “The FDA clearance not only emphasizes our commitment to cybersecurity and regulatory adherence, but also paves the way for promising collaborations with major radiology and hospital chains,” said Rology’s chief medical officer, Mahmoud Eldefrawy.

FINTECH-

Another new e-payments kid on the block: Qalaa Holdings’ Taqa Arabia and Raya Holding subsidiary Aman have finished setting up their long-awaited fintech company Aman Taqa Electronic Payments, Taqa said in a filing to the EGX (pdf). The firm will provide digital payment services to Taqa customers, increasing the number of Aman branches at Taqa gas stations to 350. Aman plans to invest EGP 300 mn in the first three years.

Who owns what? Aman holds a 51% stake in the joint venture, while Taqa Arabia owns the remaining 49%. The two firms will launch the company with EGP 20 mn in capital.

TELECOMS-

From Egypt to Albania: Telecom Egypt and Hungarian IT services company 4iG will lay a new subsea data cable across the Mediterranean linking Egypt to Albania, the EGX-listed company said Wednesday. The project will give the two firms a “significant share” of the growing market for data traffic between Europe and Asia, the state-owned company said.

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