First Independent Mena Newspaper
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 […]
The steering committee of the Negev Forum, including Abraham Accords partners, Egypt and the U.S. met Monday in Abu Dhabi to prepare for the second summit, scheduled in Morocco. Delegates from Morocco, Egypt, the UAE, Bahrain, Israel and the U.S. are taking part in the two-day preparatory meeting tasked with identifying realistic and doable projects […]
South Korean airlines operated last Friday two charter flights to Cairo International Airport following several years of suspension. The first flight, operated by Asiana Airlines, came from Seoul with 295 passengers onboard, while the second flight was operated by Korean Air, Egypt Today reported. In November, South Korea’s Ambassador to Egypt Hong Jin Wook affirmed […]
The Egyptian Minister of Transport, Kamel El-Wazir, announced the arrival of the third and fourth luxury Talgo trains made in Spain. The newly-arrived high-speed trains are part of seven trains contracted with Spanish train manufacturer Talgo. The contract valued at €157 million includes maintenance and supply of spare parts. Each of Talgo trains consists of […]
The Central Bank of Egypt (CBE) abolished a February 2022 circular requiring the use of letters of credit for imports, and allowed the use of collection documents instead, Arab Finance reports. The CBE in a late December circular scrapped the letter of credit which provides an irrevocable guarantee to the exporter that the importer’s bank […]
Egypt’s President Abdel Fattah al-Sisi on Thursday approved a document outlining 62 economic activities the state will withdraw from and turn over to the private sector, a cabinet statement said. The document’s approval was required by the International Monetary Fund, which this month approved a $3 billion financial support package for Egypt. The statement said […]
Japan will release to Egypt $301 million to finance the implementation of phase one of Cairo Metro’s fourth line. The related agreement was signed between Egypt’s Minister of International Cooperation, Rania El-Mashat and the Minister of Transport, Kamel El-Wazir, and Japan’s Embassy in Egypt and the Japan International Cooperation Agency (JICA), Mubasher reports. The funds […]
An Egyptian-Qatari Business Forum will be launched during the first quarter (Q1) of 2023, Mubasher reports citing sources familiar with the matter. Egypt’s General Authority for Investment and Free Zones (GAFI) has been mandated to arrange the event, the sources indicated noting that the forum will be launched at the Gulf country’s recommendation. A number […]