Al-Jaghbeer: The Industrial Sector Leads Economic Growth
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Egypt's economy grew by 4.4% in the fiscal year 2024-2025, surpassing the targeted 4.2%, driven by growth in tourism, non-oil manufacturing, and telecommunications sectors. Private investment contribution increased significantly, while Suez Canal activity declined due to regional geopolitical tensions.
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The Trump administration is pushing Taiwan to relocate semiconductor investments and production to the US to manufacture half of American chips domestically, aiming to reduce heavy reliance on Taiwan, which produces over 90% of advanced semiconductors worldwide.
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Egypt's Agriculture Minister Alaa Farouk affirmed Egypt's full support to enhance agricultural cooperation with Lebanon, noting that Lebanon is the second-largest apple exporter to Egypt, with Egypt importing about 53,000 tons of Lebanese apples in 2024.
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US markets are moving toward easing regulatory burdens to boost investor confidence. The SEC is considering replacing quarterly reporting with semi-annual reports to reduce costs, encourage innovation, and increase stock market listings.
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The Cultural Fund signed an agreement to establish the second private investment fund in Saudi Arabia's film sector with a capital of 375 million SAR. The fund aims to boost local and global investments in the film industry. This is the second fund where the Cultural Fund is a main investor, bringing the total investment to 750 million SAR.
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On Tuesday, September 30, 2025, the US dollar continued to decline against the Egyptian pound, with the selling price reaching 47.95 pounds, the lowest level in a year. Several banks recorded decreases ranging from 11 to 15 piasters.
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The Dubai Multi Commodities Centre (DMCC) has launched the Wealth Centre to support the expansion of family offices and private capital in Dubai. Family offices in Dubai manage assets exceeding one trillion US dollars. The centre provides a comprehensive ecosystem for governance, succession planning, and investment strategies with tailored licensing and investment opportunities.
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Flaword has launched the "Future Programmers" initiative offering 100 scholarships to children and youth across the Middle East to learn programming and digital skills, in partnership with local educational institutions like Pure Minds Academy in the UAE.
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The Minister of Local Development launched Egypt's National Smart Cities Strategy, aiming to develop existing and new cities through strategic plan updates, infrastructure improvements, and enhanced citizen participation in sustainable urban development.
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Dr. Amr Talaat, Minister of Communications, announced that the national smart cities strategy aims to build a digital society with accurate databases and advanced infrastructure. The strategy includes upgrading telecommunications networks to fiber optics in new cities and rural areas.
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