OIC Summit, African countries underline strategic importance of African Atlantic Initiative launched by King Mohammed VI

The 15th Summit of the Organization of Islamic Cooperation (OIC), held in Banjul, capital of The Gambia, underlined the strategic importance of the “Atlantic African States” Initiative launched by King Mohammed VI. In its Final Communiqué, the 15th OIC Summit welcomed the “Atlantic African States” Initiative launched by Morocco’s King as a process towards an […]

Saudi Arabia shelves plan to take over United Bank of Egypt over disagreement with Cairo

Saudi Arabia has put a plan by its sovereign wealth fund to acquire the United Bank of Egypt on hold because of a disagreement with the Egyptian authorities over its valuation, Reuters reports citing two sources familiar with the matter. The pause is unprecedented in the spree of investments done by the Gulf country in […]

Egypt: At least 38 injured in fire outbreak in Ismailia security directorate

A huge fire occurred early this Monday October 2 at a police facility in the Egyptian Suez Canal city of Ismailia, injuring at least 38 people before firefighters contained the blaze. Videos on social media showed the city’s security directorate engulfed in flames. It is unclear what caused the fire outbreak. State television said fire-fighters […]