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A recent survey reveals that 93% of entrepreneurs are confident in their business skills, with 96% believing AI will help them compete with larger firms. Women-led businesses in Egypt are thriving, with 62% optimistic about growth, while AI tools are saving them an average of 19 hours weekly, allowing for skill development and improved operations. GoDaddy's AI solutions are empowering these entrepreneurs, enhancing their quality of life and business satisfaction.
Longevity Wellness Hub is set to launch five new wellness centers in Dubai, Abu Dhabi, and Riyadh, featuring advanced technologies like quantum body scanning and hyperbaric oxygen therapy. This expansion aligns with the booming global wellness industry, projected to reach $7 trillion by 2025, and integrates traditional healing with modern biohacking. The company aims to empower individuals to age well and live better through a holistic approach to health and recovery.
Egypt plans to reduce fuel subsidies to cost-recovery levels by December 2025 as part of its economic reforms, confirmed by the IMF following a USD 1.2 billion disbursement. Despite three price hikes in 2023, the government still spends EGP 10 billion monthly on subsidies, although diesel will continue to receive partial support. The current account deficit has risen to 5.4% of GDP, exacerbated by energy sector challenges and declining Suez Canal revenues.
Egypt plans to reduce fuel subsidies to cost-recovery levels by December 2025 as part of its economic reforms, confirmed by the IMF following a USD 1.2 billion disbursement. Despite three price hikes in 2023, the country spends around EGP 10 billion monthly on subsidies, with diesel still receiving partial support. The current account deficit has risen to 5.4% of GDP, exacerbated by energy sector challenges and declining Suez Canal revenues amid geopolitical tensions.
Shell Egypt is investing USD 300 million in collaboration with Petronas to drill three new gas wells in the West Delta Deep Marine concession, aiming to develop an additional 90 billion cubic feet of gas. Production from the first well is expected to start in 2025, as Shell expands its offshore exploration and prepares for new drilling in the Mediterranean by 2026. This initiative supports Egypt's energy goals and reinforces Shell's commitment to boosting gas production amid fluctuating levels.
Shell Egypt is investing USD 300 million in collaboration with Petronas to drill three new gas wells in the West Delta Deep Marine concession, aiming to develop an additional 90 billion cubic feet of gas. Production from the first well is expected to start in 2025, as the company expands its offshore exploration and prepares for new drilling by 2026. This initiative supports Egypt's energy goals and reinforces Shell's commitment to boosting gas production amid fluctuating levels.
Rania Nerhal, Mashreq’s Chief Client Experience & Conduct Officer, has been recognized as one of Finance Middle East’s Top 26 most influential women in finance for 2025. With over 25 years of experience, she has significantly enhanced client experiences and ethical business conduct, leading to a notable rise in the bank's Net Promoter Score.Her strategic vision focuses on leveraging digitization, AI, and operational efficiency to deliver superior customer interactions, while also driving digital transformation to meet evolving customer expectations. Under her leadership, Mashreq has strengthened customer loyalty and expanded its market presence, contributing to financial inclusion efforts.
Egypt's fintech sector is rapidly evolving, with over 170 companies enhancing financial inclusion through innovative digital wealth management and investment platforms. Key players include Thndr, Azinvest, Bokra, Valu, and Fawry, each offering unique services that empower users to invest and manage their finances effectively. Thndr, for instance, has surpassed 3 million downloads and processed $1.8 billion in trading volume, while Fawry has expanded its offerings to include a tax-free investment fund, highlighting the growing intersection of digital payments and investment solutions in the region.
Egypt's fintech sector is rapidly evolving, with over 170 companies enhancing financial inclusion through innovative digital wealth management and investment platforms. Key players include Thndr, Azinvest, Bokra, Valu, and Fawry, each offering unique services that empower users to invest and manage their finances effectively. Thndr, for instance, has surpassed 3 million downloads and processed $1.8 billion in trading volume, while Fawry has expanded its offerings to include a tax-free investment fund, highlighting the growing intersection of digital payments and investment solutions in the region.
Egypt is set to receive a USD 1.2 billion loan tranche from the IMF, following the approval of its fourth disbursement under an extended support program. The IMF acknowledges Egypt's economic reforms, including reduced inflation and rising foreign reserves, while reaffirming the country's commitment to lifting fuel subsidies by December 2025, supported by favorable global oil prices. Future program reviews are planned to ensure continued progress amidst ongoing economic challenges.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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