First Independent Mena Newspaper
The Egyptian government signed Thursday three framework agreements for automobile manufacturing with the aim of to achieve bonded cooperation between Egyptian government representatives and companies, working to achieve the goals of the National Automotive Development Program. The agreements were signed by representatives of the government, including Amr Noureldin, Legal Advisor to the CEO of the […]
MasterCard has inked a partnership agreement with Copal to launch Egypt’s first family digital payment and expenses management mobile application, Arab Finance reports, citing a press release. The app aims to spread E-banking services by integrating youth into the banking system and the formal economy in a way that achieve Egypt’s financial inclusion goals, the […]
The Egyptian Exchange (EGX) and the Saudi Tadawul Group have signed a memorandum of understanding (MoU) to strengthen joint cooperation, Arab Finance reports citing an emailed press release of February 13. The MoU was signed on the sidelines of the ongoing Saudi Capital Market Forum, held in Riyadh February 12-14. “We seek to cooperate with […]
Egyptian Aviation Company and the Arab Investors Union have penned an agreement to promote therapeutic tourism in Egypt through Arab-African cooperation, the Egyptian Ministry of Civil Aviation has revealed in a statement. The deal, signed by Yahya Zakaria, Chairman of the Board of Directors of the Egyptian Aviation Company and Huda Yassi, President of the […]
A Cairo Criminal court has removed the name of the businessman Safwan Thabet, the grandson of outlawed Muslim Brotherhood’s second leader Hassan al-Hudaybi, from the terror list following his release in mid-January. Safwan, the founder and former CEO of Juhayna Food Industries, and his son Seif El-Din were set free on January 21 from prison […]
Moody’s Investors Service cuts Egypt’s sovereign rating by one notch to B3 from B2, saying that it does not expect the country’s liquidity and external positions to rebound quickly. The change comes as the Arab country has continued to face a foreign currency shortage despite allowing the Egyptian pound to depreciate sharply in recent months. […]
The “Funding Body of Science, Technology and Innovation” of the Egyptian Ministry of Higher Education and Scientific Research and Romanian Ministry of “Research, Innovation and Digital” have penned a Memorandum of understanding (MoU) to enhance cooperation in the field of science and technology. The agreement signed Sunday aims at enhancing cooperation between the two parties […]
Concord International Investments, a company providing investment management and supervisory services to high-net-worth individuals, banks, thrift institutions, and other investment companies from its headquarters in New York, is planning to establish a healthcare investment company in Egypt with a capital of $40 million. Chairman Mohamed Younes has told Asharq Business that investments will be directed […]
Air Arabia Egypt announced flights to Gizan in Saudi Arabia, making the Saudi city the 11th destination of the low-cost carrier to the Gulf country. The direct flights will connect Cairo International Airport with King Abdullah bin Abdulaziz International Airport with a frequency of two weekly flights starting from April 9th, 2023. “We are glad […]
The Egyptian Prime Minister, Mostafa Madbouly, indicated that the Arab country hopes to list at least 20 state-owned companies in 2023 as part of a larger strategy aimed at generating more revenues, Zawya reports. Not all companies will be listed on the EGX (the Egyptian stock market). Some will see major shares sold to strategic […]