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Egypt to launch first insurance policy for citizens living abroad

RIYADH: Egypt will launch the first-ever insurance policy for Egyptians working and residing abroad effective January 2022, Nabila Makram, the country’s minister of emigration and expatriates affairs said. The project will be carried out in cooperation with the Financial Regulatory Authority. FRA chief Mohamed Omran pointed out the duration of the insurance document is one ....

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Egypt begins implementing 1st insurance policy for Egyptians expat. in early 2022

Omran clarified that there are consultations that the insurance policy for Egyptians working abroad will become compulsory in the new law.

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Egypt's cosmeceutical giant Macro Group to list 46% stake on EGX30

RIYADH: Cairo-based cosmeceutical giant Macro Group plans to offer 45.8 percent of its shares on the Egypt’s EGX Exchange before Jan. 23. The company will offer its shares at a value of 3.5 billion Egyptian pounds ($222 million), the Financial Regulatory Authority said in a statement. This comes as the company received approval to list on the bourse yesterday, the FRA said. ....

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Three companies worth over $255m to IPO on Egyptian Stock Exchange

RIYADH: The Egyptian Financial Supervisory Authority has approved three initial public offering applications worth over 4 billion Egyptian pounds ($255 million) on the country’s bourse. The companies include the cosmaceutical company Macro Group Pharmaceuticals, which has a major fair value of 3.5 billion Egyptian pounds, Asharq reported. The other two companies are Nahr ....

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Egypt allows establishment of special firms to facilitate acquisitions

The Egyptian Financial Regulatory Authority has agreed to allow the establishment and licensing of companies with the purpose of acquisition, known as SPAC. FRA Chairman Mohamed Omran said the authority’s decision reflects its interest in creating financing solutions that would facilitate the access of investors, especially small and medium-sized companies, to financing in ....

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