Νέα
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Funding Entrepreneurship in Cairo
In January of this year, the CBE launched a program to finance 350,000 SMEs for EGP 200 billion (US $22.5 billion) over the next four years, with a declining interest rate of 5% annually, and introduced a policy that will oblige banks to commit 20% of their total loan portfolio to SMEs. But in spite of these…
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3,800-Year-Old ‘Tableau’ of Egyptian Boats Discovered
The tableau, as the series of images is called, would have looked upon a real wooden boat said Josef Wegner, a curator at the Penn Museum at the University of Pennsylvania, who led the excavation. Only a few planks remain of the wooden boat, which would have been constructed at Abydos or dragged across the…
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Greek Doctor Afksendiyos Kalangos has saved the life of over 15,000 children
In 1998, Dr. Afksendiyos Kalangos founded the charity institution «Coeurs pour tous» (Hearts for All), and since then he is surrounded by a group of surgeons with common ideals, offering valuable medical services to people in need around the world. He graduated in 1984 at the age 23, from the American Medical Faculty of Istanbul,…
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Central Bank of Egypt Floats the Egyptian Pound
“The CBE hereby announces its decision to move, with immediate effect, to a liberalized exchange rate regime in order to quell any distortions in the domestic foreign currency market,” the bank said in a statement. Against the US dollar, the Egyptian pound was floated to EGP 13.00 per USD 1.00. Selling a US dollar, however, yields…