Egypt Economy
Egypt is witnessing a surge in digital gold investment driven largely by younger investors, according to Saied Embaby, CEO of iSagha.
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Gold prices in Egypt's local market posted modest gains during last week's trading, with the 21-karat gram closing at EGP 6,925, even as global prices declined sharply due to US dollar strength and escalating geopolitical tensions.
Deputy Prime Minister Kamel Al-Wazir continued his nationwide inspection of strategic industrial projects on Tuesday, focusing this week on major food-production facilities in Nubaria and Sadat City. His tour began at Beyti Food Industries, a subsidiary of the Almarai Group, where he inaugurated five new production lines valued at EGP 1bn. The additions boost the plant's capacity to meet rising domestic demand and expand exports.
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Egypt’s Health Minister Khaled Abdel Ghaffar announced the launch of Eva Pharma’s new Oncology and Hematology Division, a key step toward localizing advanced pharmaceutical manufacturing and bolstering national health security. The announcement came at an event in Cairo, highlighting the handling of 360,000 annual cancer cases at a cost of nearly EGP 13 billion.