First Independent Mena Newspaper
Moroccan football club RS Berkane defeated Zamalek of Egypt 2-1 in their first leg match of the 2024 African Confederation Cup final played Sunday in Berkane’s Municipal Stadium. The two goals were scored by captain Issoufou Dayo in the 13th minute and Adil Tahif in the 32nd minute, while Seifeddine Jaziri scored for the Egyptians […]
Morocco is considering applying anti-dumping measures on tomato paste imported from Egypt, the industry minister said as local industries complain of unfair competition. The agri-food federation noted in a report that Egyptian imports had a far lower price resulting in loss of jobs for the local tomato paste industry, whose sales plummeted by 14%. The […]
Sudan, Cabo Verde, Mozambique, Republic of the Congo, and Egypt have been listed as countries with the highest debt to GDP ratio in the African continent. This came in a report by Yahoo Finance which listed 30 countries with the highest debt to GDP ratio. The report noted that Emerging economies and low-income economies are […]
The IMF agreed to offer Egypt a loan worth 8 billion dollars under an Extended Fund Facility to support the country’s economic stability. Following its review, the IMF noted that Egypt’s recovery was slowed by rising global inflation, foreign exchange shortages, and elevated debt levels. Egypt is also struggling with new challenges such as the […]
The European Union signed a “historic” deal with Egypt on Sunday (17 March) that includes a funding package of 7.4 billion euros and elevating their relationship to the level of a “strategic and comprehensive partnership”, in bid to stem migrant flows to Europe. The 7.4 billion-euro aid package for cash-strapped Egypt was announced by European […]
Egypt is reportedly set to receive up to 7.4 billion euros in funding from the European Union under a major ‘cash for migrant control’ pact which could be formally announced during the upcoming visit of the European Commission chief to Cairo this Sunday (17 March). The EU support package is intended to relieve pressure on […]
Three Egyptian Coptic monks were killed in an attack in a monastery on March 12 in South Africa, as the country struggles with a surge in gang criminality. The three monks who belong to the Egypt-based Coptic Orthodox Church were killed in the Saint Mark the Apostle and Saint Samuel the Confessor Monastery Police said […]
Only days after the announced $35 billion deal with the UAE for the development of Ras al-Hekma on its Mediterranean coast, Egypt is reportedly also targeting investors from Qatar and Saudi Arabia offering them prime Red Sea coastal land in Ras al-Ghamila in South Sinai for sale as part of Cairo’s attempt to inject cash […]
Egypt and the United Arab Emirates (UAE) have signed a landmark $35 billion investment deal to develop Ras al-Hekma peninsula on the Mediterranean coast that, economists say, will inject $35 billion of foreign direct investment into the struggling Egyptian economy, helping it to bolster economic growth and address a hard currency crisis. The deal is […]
Egypt will extend for additional three months the tax-free car import initiative launched by the country in view of widening the beneficiary base, Arab Finance reports. Finance Minister Mohamed Maait who made the announcement said that the number of beneficiaries has increased by more than three times during the first two months of the initiative’s […]