Top 10 Trending Headlines to Go Through This Weekend
Updated 8/30/2024 9:00:00 AMArab Finance: The fourth week of August has been packed with newsworthy events, topped by the Ministry of Petroleum's recent launch of the international natural gas exploration bid round in 12 blocks across the Mediterranean and the Nile Delta region.
So, take a look at the most interesting news stories that have been covered from August 25th to August 29th.
1-Egypt launches global natural gas exploration bid round in 12 blocks
The Egyptian Natural Gas Holding Company (EGAS) has launched an international natural gas exploration bid round in 12 blocks across the Mediterranean and the Nile Delta region.
2-CBE turns profitable in FY2023/24
The Central Bank of Egypt (CBE) recorded net profits of EGP 22.834 billion in the fiscal year (FY) 2023/2024, compared to losses of EGP 86.28 billion a FY earlier.
3-Cabinet OKs increased pay for teachers working extra hours
The Egyptian cabinet has approved an agreement between the Ministers of Finance and Education to raise the hourly rate for teachers working beyond their teaching quotas.
4-Egypt’s auto sales climb 81.2% YoY in July
Automotive sales in Egypt surged by 81.2% year on year (YoY) in July to 11,400 vehicles, compared to 6,200 vehicles.
5-El Dabaa Nuclear Power Plant on track for 30% completion by end-2024
The implementation of the El Dabaa Nuclear Power Plant (NPP) is set to be completed by 30% by the end of the current year.
6-Egypt commits to zero CBE claims by EGP 100B each FY: IMF
The Egyptian authorities have reduced the Central Bank of Egypt’s (CBE) claims by EGP 150 billion by end-July 2024, committed to further cut them to zero by EGP 100 billion every fiscal year (FY).
7-GAFI’s entrepreneurship unit, ERI partner to back tech start-ups
The General Authority for Investment and Free Zones’ (GAFI) Permanent Entrepreneurship and Startups Unit has signed a memorandum of understanding (MoU) with the Electronics Research Institute (ERI) to support start-ups operating in the technology, electronics, and energy sectors.
8-Contact Insurance Brokerage launches new app to facilitate insurance policy management
Contact Insurance Brokerage, a subsidiary of Contact Financial Holding, has launched a new mobile app to enhance customer experience via a comprehensive suite of digital services.
9-valU finalizes EGP 1.09B securitized bond issuance
valU has completed its 11th securitized bond issuance worth EGP 1.091 billion.
10-MSMEDA, Entlaq ink MoU to improve Egypt’s investment landscape for entrepreneurship
The Micro, Small and Medium Enterprises Development Agency (MSMEDA) has signed a memorandum of understanding (MoU) with Entlaq to enhance the investment and legislative landscape for entrepreneurship in Egypt.
