First Independent Mena Newspaper
The Public Investment Fund (PIF) of Saudi Arabia launched the Saudi-Egyptian Investment Company (SEIC) that will invest in swathes of Egypt’s economy from infrastructure and real estate to pharmaceuticals. The fund in a statement said SEIC is interested in the country’s promising sectors including infrastructure, real estate development, healthcare, financial services, food and agriculture, manufacturing, […]
The Suez Canal Authority (SCA) is considering listing three companies on the Egyptian Exchange (EGX) by the end of the year, Chairman of the SCA Osama Rabie said. Rabie, in an interview with Al-Arabiya, said that studies are underway with the finance and investment ministries and that the chosen companies are those that achieve the […]
Egypt’s Finance Minister Mohamed Maait has denied reports that the Arab Republic is seeking a $15 billion-loan from the International Monetary Fund (IMF) to shore up its finances. Goldman Sachs Group Inc. in a July report indicated that Egypt may need to secure $15 billion from the IMF to meet its funding requirements over the […]
New Delhi’s ambassador in Cairo Ajit Gupte announced plans by the Asian country to invest $700 million in the coming few years, Arab News reports. Gupte made the announcement during a meeting with Egyptian and Indian businessmen. Indian investments in Egypt currently stand at $3.15 billion, the diplomat also noted. The announcement came as a […]
Russia’s Foreign Minister Sergey Lavrov Sunday said Russian grain exporters are committed to their obligations regarding international wheat orders. Russia’s top diplomat was in Cairo Sunday to meet with Egyptian authorities and the Arab League. Lavrov during a joint press conference with his Egyptian counterpart Sameh Shoukry said that his country took many steps to […]
Egypt and Russian energy company Rosatom have announced the beginning of construction work of the North African country’s first nuclear plant. The plant is being built at El-Dabaa on the country’s north coast and is expected to have four units, each with a generating capacity of 1,200MW. The project has been in the pipeline since […]
Egypt and Serbia inked a group of agreements and Memorandum of Understanding as President Abdelfattah al-Sisi visited the European country Wednesday. Al Sisi met with Aleksandar Vucic in capital Belgrade following a visit to Germany the day before. Both leaders oversaw the signing of several accords. One agreement in the field of higher education was […]
The African Development Bank Board of Directors approved a loan of USD 271 million to finance Egypt’s Food Security and Economic Resilience Support Program to support efforts to mitigate the impact of the global shocks on the domestic economy from the Russia-Ukraine conflict and to preserve resilience, Abidjan-based bank said in a statement. The program […]
The European Investment Bank (EIB) and Banque Misr have signed two technical assistance agreements to support small- and medium-sized enterprises (SMEs), Arab Finance reports citing emailed press release on July 6th. The first program will bolster Banque Misr’s credit risk management and help it adopt SME financing best practices. The second according to the statement […]
An attack carried out by a group of militants killed Wednesday five Egyptian military personnel in North Sinai, the second such an attack in less than one week after the Islamic state group (ISIS) claimed a first attack that slain 11 security forces. Two security sources told Reuters that unidentified armed men assaulted a security […]