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Kuwait's Alshaya Group, one of the largest retailers in the Middle East, announced the closure of several of its retail franchises in Egypt due to economic challenges and the devaluation of the Egyptian Pound. "Due to the economic situation over the past three years and the challenges facing our business in Egypt, including the currency devaluation, exchange rate pressures, and high inflation, we have been compelled to make the difficult decision to scale down our operations in the country," the…
