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Egypt postpones state privatization program, new program to be announced in two months
PRIVATIZATION WATCH- The state privatization program is officially being put on ice as the covid-19 outbreak wreaks havoc on global…
CBE cuts interest for three of its financing initiatives, raises ATM withdrawal cap
REGULATION WATCH- CBE cuts interest for three of its financing initiatives: The Central Bank of Egypt (CBE) has reduced the…
US stocks suffer worst week since 2008 as global economic outlook darkens
US equities suffered their worst week since 2008 last week as the financial and economic consequences of the covid-19 outbreak…
EGX30 ends in the green for the first time in two weeks
The EGX30 closed Thursday in the green for the first time in weeks: The benchmark EGX30 closed in the green…
Farouk Saleh Nasser appointed as vice chairman of Alexandria Portland Cement board
MOVES- Farouk Saleh Nasser (bio) was appointed as vice chairman of the board at Alexandria Portland Cement, according to an…
Microsoft hires Mirna Aref as country manager for Egypt
MOVES- Microsoft has tapped Mirna Aref (LinkedIn) as its new country manager for Egypt, according to an emailed statement (pdf).…
Egyptian fitness startup ElCoach raises undisclosed USD six-figure seed funding
STARTUP WATCH- Egyptian Fitness startup ElCoach has raised USD six-figure seed funding from investors that include Endure Capital, 500 Startups…
EFG Hermes net profit up 36% in 2019
EARNINGS WATCH- EFG Hermes’ net profit surged 36% in 2019 to EGP 1.38 bn from EGP 1 bn a year…
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