Egypt: decline in Hermes profits

One of the biggest investment bank in Egypt has reported an 18.8 % decline in its net profit for the first nine months which fell to 232.1 million Egyptian pounds ($38 million) from 286 million pounds. EFG Hermes made this announcement in report of its third quarter consolidated financial results. EFG Hermes said its net […]

US commends King Mohammed VI’s reform agenda over two-decades

US Secretary of State Michael R. Pompeo highlighted King Mohammed VI’s leadership in advancing a bold and far-reaching reform agenda over the two past decades. Pompeo made the statement in a joint release following the 4th session of the US-Morocco strategic dialogue which he chaired in Washington together with Foreign Minister Nasser Bourita. The US […]

Sudan fighting likely to affect supply chains, disrupt regional trade — analysts

As fierce battles between armed forces loyal to two rival generals continue raging and with Sudanese counting their losses, the wider region is already reeling from the impact of the one-week conflict due to Khartoum’s economic importance in Northeast Africa, according to analysts. Khartoum’s economic importance to its neighbors have already been felt and, as […]