Top 10 Viral News Stories to Revisit This Weekend

Updated 5/3/2024 9:00:00 AM
Top 10 Viral News Stories to Revisit This Weekend

Arab Finance: The five working days ended on May 2nd have been jammed with major news, from Japan's $230 financial assistance to Egypt and the inauguration of Egypt's first government data and cloud computing center.

So, here is our weekly round-up of the most interesting events of the week from April 28th to May 2nd to help you stay up to date:

1-Egypt to secure $230M from Japan in budget support: Maait 

Japan will provide Egypt with $230 million in financing to support the state budget.

2-Egypt inaugurates 1st government data center 

President Abdel Fattah El-Sisi has witnessed the opening of the Government Data and Cloud Computing Center.

3-Tourist arrivals to Egypt up 3-4% YoY in Q1 2024 

Tourist arrivals to Egypt increased by 3% to 4% year on year (YoY) in the first quarter (Q1) of the current year.

4-IMF releases staff country report on EFF arrangement with Egypt 

The International Monetary Fund (IMF) released a staff country report on April 26th on its first and second reviews of Egypt's Extended Fund Facility (EFF) arrangement.

5-Hosting refugees could cost Egypt over $10B annually: Madbouly 

The direct cost of hosting refugees in Egypt is estimated at over $10 billion annually.

6-Egypt targets 10% growth in industrial investments in 2024 

Egypt is targeting boosting its industrial investments by around 10% to at least $3.6 billion in 2024, compared to $3.3 billion in 2023.

7-Egypt, Belarus ink MoU to foster investor participation in securities markets 

Egypt and Belarus have penned a memorandum of understanding (MoU) to support investor participation in the securities markets, futures contracts, and other related investment product markets.

8-SCZONE lays foundation stone of Xinxing Ductile Iron Pipes factory 

The General Authority for the Suez Canal Economic Zone (SCZONE) has laid the foundation stone of the China-based Xinxing Ductile Iron Pipes Corporation’s factory.

9-IsDB’s investment portfolio in Egypt hits $22B

The Islamic Development Bank’s (IsDB) investment portfolio in Egypt has reached $22 billion.

10-MSMEDA signs EGP 30M with Al Khair Microfinance to fund micro-projects in Egypt  

The Egyptian Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has signed a new contract worth EGP 30 million with Al Khair Microfinance for funding various new and existing micro-businesses.

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