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Egypt/Russia: the Russian arms deal
On a two-day visit to Moscow, Egyptian army chief Field Marshal Abdel Fattah al-Sisi was on Wednesday accompanied by Foreign Minister Nabil Fahmy to seal a lucrative arms deal and discuss areas of cooperation “in multiple fields”. The US$2 billion arms deal will mainly be funded by Saudi Arabia and the UAE. The expected Russian […]
Egypt’s foreign reserves hit record high of $50.07 billion in October
The Central Bank of Egypt (CBE) announced on Sunday that the country’s net international reserves reached a historic 50.07 billion U.S. dollars by the end of October, up from 49.53 billion dollars in September. This marks the highest level of foreign reserves in Egypt’s history, reflecting the impact of ongoing financial reforms and a resurgence […]
Safran to open Morocco’s first aircraft engine manufacturing plant in Casablanca, King Mohammed VI chairs presentation ceremony & launch of construction works of the complex
French Safran Group announced Monday the setting up of Morocco’s first aircraft engine manufacturing complex in Nouaceur, near Casablanca. The initiative was officially presented during a high-profile ceremony presided over by King Mohammed VI, who was accompanied by Crown Prince Moulay El Hassan. The new industrial complex, located within the Midparc integrated aerospace platform, will […]



