Weekly Rundown of Top 10 Trending Headlines
Updated 11/29/2024 9:00:00 AMArab Finance: From the Financial Regulatory Authority (FRA) announcing a decision regulating the issuance and distribution of new standard insurance policies electronically to the remittances from Egyptians working abroad jumping 43% year on year in the first nine months of this year, the five working days ended on November 28th have been dominated by interesting news headlines that should not be missed.
The following are snippets of the top news stories posted from November 24th to 28th.
1-FRA approves digital issuance, distribution of standard insurance policies
The Financial Regulatory Authority (FRA) has issued decision No. 267 of 2024 regulating the issuance and distribution of new standard insurance policies electronically.
2-Remittances from Egyptians abroad surge 43% YoY in 9 months
The Central Bank of Egypt (CBE) announced that remittances from Egyptians working abroad reached $20.8 billion in the first nine months of 2024, reflecting a 43% year-on-year (YoY) increase.
3-Egypt launches national alliance to localize vaccine production
Egypt has officially launched the Egyptian Vaccine Manufacturers Alliance (EVMA), an initiative that aims to localize vaccine production and expand exports across Africa.
4-Egypt, Spain strengthen cooperation with 2 new grants worth €800,000
Egypt has signed two grants worth a total of €800,000 with Spain, provided by the Spanish Agency for International Development Cooperation (AECID)
5-United Bank’s private offering on EGX 3x oversubscribed
Subscription to the United Bank’s private offering on the Egyptian Exchange (EGX) has been oversubscribed by three times its allocated shares.
6-Chinese-Egyptian alliance to develop $7B agricultural complex in New Valley
An investment alliance between Chinese investors and both the private and public sectors in Egypt is set to develop an integrated agricultural complex in New Valley Governorate with an estimated investment of $7 billion.
7-Ebda to pump EGP 17B in investment for 8 industrial projects
The National Initiative for Developing Egyptian Industry (Ebda) will invest EGP 17 billion in eight industrial projects under the Nile Fund for Industrial Development
8-IFC, ODE partner to support green tourism in Egypt
The International Finance Corporation (IFC) is supporting Orascom Development Egypt (ODE) with a sustainability-linked loan (SLL) of $155 million to enhance energy and water efficiency and reduce greenhouse gas (GHG) emissions in hotels in El Gouna on the Red Sea.
9-e-finance, Cassava Technologies forge partnership to expand across africa
e-finance has signed an agreement with Cassava Technologies to explore collaboration and joint expansion opportunities across Africa.
10-DHL Express Egypt plans for EGP 500M in investment in 2025
DHL Express Egypt is seeking to invest between EGP 400 million and EGP 500 million in 2025 as part of its expansion strategy.
