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Thursday, 1 December 2022

Closer entrepreneurship ties between Egypt and China

TECH-

New Egypt-China association to give AI + tech investments a shot in the arm: Egypt and China launched the Egyptian-Chinese Entrepreneurs Association (ECEA) this week, with an eye to drive Chinese investments in AI, space tech, and e-commerce, according to a Finance Ministry statement. The association creates a “platform for continuous communication to discuss cooperation,” Finance Minister Mohamed Maait said.

FINANCIAL SERVICES-

Contact Financial has added financial leasing to the factoring services it offers dental startup Toothpick, allowing dentists to finance their equipment purchases through Toothpick’s online marketplace, according to a Contact statement (pdf).

MANUFACTURING-

Haj Arafa wants to export Siwa dates to Africa and Asia: Natural food and cosmetics maker Haj Arafa plans to build a date packaging factory in Siwa Oasis with investments of more than EGP 100 mn within the next year, Al Borsa reports, citing company CEO Mohamed Arafa Al Attar. The company will look to export the dates to African and Asian markets.

REGULATION-

FRA greenlights Misr Takaful Ins.-Hayat: The Financial Regulatory Authority has granted Misr Takaful Ins. Hayat — a joint venture between Misr Ins. Holding Company, Misr Life Ins., the National Bank of Egypt, and Banque Misr — a license to operate, according to a statement (pdf) from the regulator. The new company’s portfolio focuses on sharia-compliant (Takaful) ins. products and services, Zawya reports.

TOURISM-

The government said it has succeeded in registering festivals related to the Holy Family’s journey in Egypt on UNESCO’s Intangible Cultural Heritage of Humanity list, according to a Culture Ministry statement. The Tourism Ministry recently launched the Holy Family Trail, which links together 25 destinations along the route said to have been walked by Jesus, Mary, and Joseph.

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