Weekly round-up of top 10 news stories
Updated 8/16/2024 9:00:00 AMArab Finance: The five working days to August 15th have been packed with newsworthy events, from the Ministry of Education and Technical Education's announcement of the 2024/2025 school year to the recent launch of the first voluntary carbon certificate trading market in Egypt.
So, take a look at the most interesting news stories that have been covered from August 11th to August 15th:
1-Academic year 2024/25 for schools begins on September 21st
The Ministry of Education and Technical Education announced that the academic year 2024/2025 for schools will begin on Saturday, September 21st, until Thursday, June 5th.
2-CBE directs local banks to open bank accounts for non-residing foreigners
The Central Bank of Egypt (CBE) has directed local banks to open bank accounts for non-residing foreigners in Egypt, without prejudice to the rules governing this process.
3-Egypt seeks to draw in over $2B FDI from EU in 2024
Egypt is planning to attract foreign direct investment (FDI) of over $2 billion from the European Union (EU) countries for new industrial projects this year.
4-Egypt launches 1st voluntary carbon certificate trading market
Egypt has officially launched the first voluntary carbon market in the country and Africa.
5-Egypt allocates EGP 7B to address medicine shortages
Egypt has allocated EGP 7 billion to ensure the rapid availability of essential medicines and medical supplies in hospitals and pharmacies.
6-Cabinet ratifies draft on establishing national council for electronic chips manufacturing
The cabinet has approved a draft resolution on the establishment and formation of the national council for the localization of electronic chips and solar cell manufacturing.
7-Egypt aims to lure 15M tourists by end-2024
Egypt is targeting to attract around 15 million visitors by the end of 2024, Asharq Business reported.
8-Greek Energean discovers natural gas, oil-bearing layers in Egypt
The Greek energy firm Energean has discovered two natural gas and oil-bearing layers in an exploratory well in Egypt.
9-UAE’s Tabreed in talks over further expansion in Egypt
The UAE-based cooling solutions provider Tabreed is currently in negotiation to expand in the Egyptian market after its first district cooling plant started operations at Marakez’s Downtown Katameya Mall.
10-Rameda targets raising export revenue share to 20% in 5 years
The Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) is planning to increase its export revenue share to 20% within the next five years, up from the current 12%.
