The Al Shaya Group, a Kuwaiti retail company, has decided to close some of its stores in Egypt due to the country’s economic situation, characterized by currency depreciation, exchange rate pressures, and high inflation. The group has been operating in Egypt for over 20 years and has a portfolio of over 200 stores. The decision to close some of its stores is a major setback for the group and for Egypt’s economy. The Al Shaya Group said that it will continue to operate its remaining stores in Egypt and that it is committed to the Egyptian market. However, the closure of some of its stores is likely to lead to job losses and a decline in consumer spending. The Al Shaya Group further announced
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