Kuwait extends $2 billion deposit to Egypt through 2025

On December 3, the Central Bank of Egypt (CBE) announced that Kuwait has agreed to extend a $2 billion deposit for an additional year. Originally set to mature in April 2024, the deposit will now mature in April 2025, according to the CBE’s latest external position report. This decision provides Egypt with crucial financial breathing […]

Laayoune/Handball: Egypt’s Al Ahly Retains Africa Men’s Club Crown & Angola’s Petro Atletico Wins Women’s Title

The 45th African handball clubs championship, organized in the Moroccan Saharan city of Laayoune (Oct.10-19) concluded with Egyptian Al Ahly club retaining its African title after trouncing in the final Benin’s Flowers CNSS 43-22. Al Ahly reached the final thanks to their victory over their rivals Zamalek (26-25), while Flowers CNSS advanced to the final […]

IMF and WB urge Algeria diversification

Algeria has been urged to diversify its economy which is heavily based on revenues generated from oil exports. This remark was made during the periodic assessments of the Algerian economy in the current year which has just a few days to go. The International Monetary Fund (IMF) and World Bank (WB) did show their satisfaction […]