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Gennecs to invest $150m in building a multi-vaccine manufacturing facility in Egypt

by WAYA Staff - Aug 30, 2022
Gennecs to invest $150m in building a multi-vaccine manufacturing facility in Egypt

Gennecs Pharmaceuticals is establishing a multi-vaccine production facility, GennVax, in Egypt in addition to launching a vaccine research center with a total investment of $150 million.

Gennecs will produce vaccines that are in line with Egypt’s national immunization program, such as: HPV, polio, hepatitis A and B, among others. The GennVax facility received accreditation from the World Health Organization (WHO).

The pharmaceutical company told Enterprise in an interview, that both projects are in partnership with investors from Saudi Arabia and the UAE and that the factory will be able to produce 300 million vaccines yearly.

Also read: Tibbiyah acquires 51% stake in Innovative Care in a $56.8m deal

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Virtuzone becomes the first UAE company to accept crypto payments

by WAYA Staff - Aug 30, 2022
Virtuzone becomes the first UAE company to accept crypto payments

Partnering with Binance, Virtuozone becomes the first UAE company to accept cryptocurrency payments for business setups through Binance Pay. Established in 2009, Virtuzone is a one-stop-shop solution that aims to remove the complexities of company setup so that entrepreneurs can...

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Snapchat releases dual camera mode

by WAYA Staff - Aug 30, 2022
Snapchat releases dual camera mode

Snapchat has introduced a new feature that lets users capture photo and video using the front and back-facing cameras at the same time. Initially announced back in April, the dual camera feature is part of Snapchat’s director mode, which is...

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Tibbiyah acquires 51% stake in Innovative Care in a $56.8m deal

by WAYA Staff - Aug 30, 2022
Tibbiyah acquires 51% stake in Innovative Care in a $56.8m deal

Tibbiyah, Saudi medical equipment provider also known as Arabian International Healthcare Holding Company, acquired a 51% stake in Innovative Care Company, that operates New You Medical Center in Riyadh. The 51% acquisition deal is valued at almost $57 million, and...

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Saudi Arabia launches Attaa digital hackathon in Egypt

by WAYA Staff - Aug 30, 2022
Saudi Arabia launches Attaa digital hackathon in Egypt

The Saudi Ministry of Communications and Information Technology has partnered with the Ministry of Communications and Information Technology (MCIT) to launch the first Attaa Digital Hackathon in Egypt. The digital hackathon is part of the Attaa Digital initiative, and will...

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Instagram cracks down on default content settings for teens

by WAYA Staff - Aug 29, 2022
Instagram cracks down on default content settings for teens

In a recent update, Instagram is now defaulting the Instagram accounts of new users under 16 years old to “Less,” the most restrictive setting for Sensitive Content Control which was introduced to the platform last June.  Now, users who are...

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Binance to suspend ETH, ERC-20 deposits and withdrawals during Merge

by WAYA Staff - Aug 29, 2022
Binance to suspend ETH, ERC-20 deposits and withdrawals during Merge

Binance, the world’s largest crypto exchange by transaction volume, will be suspending all Ether (ETH) and ERC-20 deposits and withdrawals for stability as the blockchain transitions from proof-of-work (PoW) to proof-of-stake (PoS) this September. According to their official announcement, the...

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KarmSolar announces a new minority stake round

by WAYA Staff - Aug 29, 2022
KarmSolar announces a new minority stake round

KarmSolar, private power utility and solar energy company, has initiated a round of capital increase to fund its local and regional expansion plans. The new investment round is supported by US-based Synergy Consulting as the sell-side advisor. “Through the minority...

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