Tag: Egypt
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Funding Entrepreneurship in Cairo
Although the Egyptian government has long been an enthusiastic promoter of small and medium enterprises (SMEs), up until recently, financing institutions did not have a unified definition of what makes an SME. According to Haytham Waguih, Head of Private Equity (PE) at the Arab African International Bank (AAIB) and board member at the Egyptian Private Equity Association (EPEA), the absence…
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3,800-Year-Old ‘Tableau’ of Egyptian Boats Discovered
More than 120 images of ancient Egyptian boats have been discovered adorning the inside of a building in Abydos, Egypt. The building dates back more than 3,800 years and was built near the tomb of pharaoh Senwosret III, archaeologists reported. The tableau, as the series of images is called, would have looked upon a real wooden…
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Central Bank of Egypt Floats the Egyptian Pound
In a surprise morning announcement, the Central Bank of Egypt announced that it has floated the Egyptian pound against all foreign currencies. “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…
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Cyprus and Egypt reaffirm their will to further enhance their relations
Cyprus and Egypt have reaffirmed their will to further enhance their relations. According to an official press release, House President, Demetris Syllouris, received on Tuesday the Ambassador the Arab Republic of Egypt in Cyprus, Hussein Mubarak. Syllouris reaffirmed close relations between Cyprus and Egypt at all levels, referring to the cooperation between the two countries…