First Independent Mena Newspaper
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 […]
Commercial International Bank Egypt (CIB) is set to proceed with the complete takeover of Kenya’s Mayfair CIB, after obtaining approvals from authorities, in a deal valued at $40 million. The Central Bank of Egypt (CBE) and the Central Bank of Kenya (CBK) have just granted their consent for CIB to acquire the remaining 49% of […]
Egypt’s Prime Minister Mostafa Madbouly has announced the government’s intention to unveil the plan for offering state-run companies on the Egyptian Exchange (EGX) in 2023 within two weeks. Madbouly, Asharq business reports, indicated that the Cabinet would soon reveal the names of the companies to be offered on EGX throughout 2023. Egypt has been planning […]
Egypt and India signed several memoranda of understanding covering the areas of ICT, cybersecurity, youths and sports, broadcast, and culture. The MoUs were signed on the sidelines of President El-Sisi’s three-day visit to India to participate for the first time ever in the South Asian country’s 74th Republic Day celebrations, Egypt’s Presidential office indicated Wednesday. […]
Egypt will put Financial Year 2023-2024 budget draft to a community dialogue expected to be convened within the next few weeks in view of enhancing community participation in determining public spending priorities, Finance Minister Mohamed Maait announced Monday. “A community dialogue on the new budget will be launched in the next few weeks, in order […]
Egypt signed Sunday a $1.5 billion Annual Work Program with the International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the Islamic Development Bank (IsDB) Group, to provide integrated financing solutions to the Arab country. Under the agreement, ITFC will deliver Egypt $1.5 billion integrated financing solutions, meant to enhance the country’s capacity to […]
Egypt’s General Authority for Supply Commodities will launch its first-ever corn tender on January 19th, a statement by the Ministry of Supply and Internal Trade said. The tender according to the ministry aims at providing fodder for the kids of poultry jam. The authority announced practice No. (1) for the year 2022/2023 for the supply […]
The Sovereign Fund of Egypt (TSFE) and Etisalat Egypt have launched Erada Microfinance to provide access to a wide range of financial services to micro and small enterprises (MSEs). Erada uses financial technology (FinTech) and provides access to a diversified set of innovative financial products for MSEs to expand their businesses, Mubasher.info reports. The partnership, […]
Italian energy group Eni has discovered a major natural gas at Narges-1 exploration well in the Narges Offshore Area Concession in the Eastern Mediterranean, offshore Egypt, the company announced Sunday in a press release. The multinational firm said it discovered 200 net feet (61 meters) of milocene and oligosin gas-bearing sandstones in the Nargis-1 well […]