{"id":607823,"date":"2023-10-10T00:00:00","date_gmt":"2023-10-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/10\/egypt-turkey-mull-local-currency-trade-plus-news-from-rology-taqa-x-aman-and-telecom-egypt\/"},"modified":"2023-10-10T00:00:00","modified_gmt":"2023-10-10T00:00:00","slug":"egypt-turkey-mull-local-currency-trade-plus-news-from-rology-taqa-x-aman-and-telecom-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/10\/egypt-turkey-mull-local-currency-trade-plus-news-from-rology-taqa-x-aman-and-telecom-egypt\/","title":{"rendered":"Egypt, Turkey mull local currency trade. PLUS: News from Rology, Taqa x Aman, and Telecom Egypt"},"content":{"rendered":"

TRADE- <\/strong><\/p>\n

EGP for TRY? <\/strong>Officials from Egypt and Turkey\u2019s central banks will meet next week to discuss using local currencies in bilateral trade,reports Asharq Business<\/a>, citing the Egyptian Commercial Representation Service\u2019s Yahya Al Wathiq Billah. \u201cEgypt suffers from a shortage of the USD, and so does Turkey,\u201d 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<\/p>\n

Warming economic relations: <\/strong>Egypt wants to boost trade volumes with Turkey by 50% to USD 15 bn in the next five years, Trade Minister Ahmed Samir said<\/a> 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<\/a> for the first time in a decade.<\/p>\n

HEALTHCARE- <\/strong><\/p>\n

#1- Rology just got access to the US market: <\/strong>AI-assisted teleradiology platform Rology will now be able to market its teleradiology platform in the US after receiving clearance from the company\u2019s regulator, it said in a statement (pdf)<\/a> 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.<\/p>\n

What they said: <\/strong> \u201cThe 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,\u201d said Rology\u2019s chief medical officer, Mahmoud Eldefrawy.<\/p>\n

FINTECH- <\/strong><\/p>\n

Another new e-payments kid on the block: <\/strong> Qalaa Holdings\u2019 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)<\/a>. The firm will provide<\/a> 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.<\/p>\n

Who owns what? <\/strong>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.<\/p>\n

TELECOMS- <\/strong><\/p>\n

From Egypt to Albania: <\/strong>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<\/a> Wednesday. The project will give the two firms a \u201csignificant share\u201d of the growing market for data traffic between Europe and Asia, the state-owned company said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt wants to boost trade with Turkey by 50% to USD 15 bn in five years<\/p>\n","protected":false},"author":1,"featured_media":607824,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,616,214,168,6717,72,183,7115,1550,614,1712,615,212,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-607823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-aman-financial-services","tag-cit","tag-diplomacy","tag-egypt-turkey-relations","tag-enterpriseam","tag-fintech","tag-healthcare","tag-healthtech","tag-raya-holding","tag-rology","tag-taqa-arabia","tag-telecom-egypt","tag-trade","wpautop","entry"],"acf":{"mongo_id":"8638cd01-e135-4988-b445-df5bdec44f53","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/490.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt, Turkey mull local currency trade. 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PLUS: Food security, trade with India","author":"enterpriseam admin","date":"2 April 2023","format":false,"excerpt":"We\u2019re the lender\u2019s biggest shareholder after the five BRICS countries","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/28.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592324,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/03\/egypt-turkey-want-to-boost-trade-volumes-by-50-over-5-years\/","url_meta":{"origin":607823,"position":2},"title":"Egypt, Turkey want to boost trade volumes by 50% over 5 years","author":"enterpriseam admin","date":"3 August 2023","format":false,"excerpt":"The two countries agreed to reestablish diplomatic ties last month after a decade-long rift","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/72.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581508,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/12\/egypt-russia-have-yet-to-make-a-final-decision-on-mir\/","url_meta":{"origin":607823,"position":3},"title":"Egypt + Russia have yet to make a final decision on Mir","author":"enterpriseam admin","date":"12 February 2023","format":false,"excerpt":"No decision yet on MIR: Egypt and Russia have completed much of the technical work to introduce Moscow\u2019s MIR payments system in Egypt but no final decisions have been made, Russia\u2019s ambassador to Egypt Georgy Borisenko told Russia's RIA Novosti. Russian authorities have been working with the Central Bank of\u2026","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/egp-rub-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548683,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/17\/aman-taqa-fintech-to-launch-in-4q-idhs-ceo-ups-stake-in-company\/","url_meta":{"origin":607823,"position":4},"title":"Aman \/ Taqa fintech to launch in 4Q, IDH\u2019s CEO ups stake in company","author":"enterpriseam admin","date":"17 August 2022","format":false,"excerpt":"Aman + Taqa\u2019s fintech venture to launch in 4Q 2022: Raya Holding subsidiary Aman and Qalaa Holdings\u2019 Taqa Arabia hope to launch their fintech company in 4Q 2022, Raya Holding CFO Hossam Hussein told CNBC Arabia (watch, runtime: 8:29). 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