First Independent Mena Newspaper
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 […]
Egypt and Italy have inked an agreement for the international transport of goods by towed land vehicles, trailers, and semi-trailers, using roll-on/roll-off (RoRo) line, ‘Arab Finance’ reports citing the Egyptian government. Under the deal, initialed by Minister of Transport Kamel Al-Wazir and Ambassador of Italy to Cairo Michele Quaroni, RoRo is scheduled to start during […]
The European Bank for Reconstruction and Development, EBRD, has committed to a provisional equity investment of up to $75 million in HAU Energy BV, a funding vehicle established by Hassan Allam Utilities that operates in Egypt and is running a project known as 1.1 GW Gulf of Suez wind farm. The investment is set to […]
The Egyptian Government is planning to expand by two folds the capacity of the Cairo International Airport to 30 million passengers per year, a cabinet statement issued on Monday January 15 said. Minister of Civil Aviation Mohamed Abbas presented in a meeting with Prime Minister Mostafa Madbouly the preliminary financial studies for the project which […]
Yehia Zakariya, chairman of the Board of Directors of the EgyptAir Holding Company, has confirmed the operation of new direct flights from Cairo to Misrata in Libya, starting from January 25, Libya Observer reports. Misrata become the third city the Egyptian carrier will be flying to, after Tripoli and Benghazi. Zakariya reportedly on company’s Facebook […]
Morocco joined an Arab industrial cooperation partnership bringing together the UAE, Egypt, Jordan and Bahrain aiming to promote investments and economic development. The partnership’s MoU was signed in Manama by the five countries during a high-level ministerial meeting, attended by Moroccan industry minister Ryad Mezzour. The partnership offers a promising cooperation platform to support sustainable […]
A consortium led by the Saudi-listed water desalination company ACWA Power has signed a usufruct agreement to invest $1.5 billion in a 1.1 MW wind project in Egypt, a statement by the Egyptian cabinet announced Thursday. The agreement was signed between Egypt’s New and Renewable Energy Development and Utilization Authority and the consortium including the […]
Concordia, a Russian manufacturer of electric vehicles (EVs), will set up an EV components manufacturing factory in Egypt as part of deal with real estate developer GV Investments. Per the partnership, GV Investments will provide the plot of land needed for the project and construct the factory, reports say. The future factory is expected to […]