First Independent Mena Newspaper
Three Egyptian state-controlled banks will launch from next month a $63.5 million (EGP 1 billion) fintech fund to support start-ups in the fintech space and international outfits that want to establish in the Egyptian market, concerned banks have said in a statement. National Bank of Egypt, Banque Misr, and Banque du Caire are behind the […]
Egypt will host the 8th edition of the Ministerial Gas Forum co-organized by the International Energy Forum (IEF) and the International Gas Union (IGU) in 2022, it was announced last week. The forum on natural gas, expected to take place during the second half of 2022, will focus on the global economic recovery after the […]
Egypt Tuesday expressed its desire to host the Conference of the Parties (COP 27) of the UNFCCC, next year. In a pre-recorded speech played in the World Leaders Summit on Climate Change on the sidelines of the 76th United Nations General Assembly, President al-Sisi said if Egypt hosts the COP 27 in 2022, it would […]
Egypt and Saudi Arabia will sign soon multiple contracts for a 2 GW electricity transmission network that will connect the two countries’ grids. The project worth $1.6 billion will connect both countries’ grids with 900 kilometers of overhead transmission cables and pass across the sea bed, for 25 kilometers. Egypt will finance 40 per cent […]
Libya has signed multiple billion-dollar contracts with a number of Egyptian companies to set up power stations in the oil-rich country. Salama Al-Ghwail, Libya’s State Minister for Economic Affairs, told Egyptian media the contracts are worth between $1.5 billion and $2 billion. Al-Ghwail said Egyptian companies should win between 60 to 70% of the reconstruction […]
Israeli Prime Minister Naftali Bennett will travel “soon” to Egypt to meet with President Fattah al Sisi in the Sinai Peninsula, Israeli media reports. Bennett will sit down with al-Sisi in the Sinai resort city of Sharm el-Sheikh, ‘Times of Israeli’ reports citing Kan broadcaster. Kan did not provide details on the timeframe but […]
Egypt has announced the discovery, in the city of Alexandria, of the remains of “residential and commercial” areas dating back to at least the second century BC, and the fossil of a new species of amphibian whale dating back 43 million years in Fayoum, south of Cairo. In a statement posted on Facebook, the Egyptian […]
Egypt-based investment company, Egypt Kuwait Holding Co SAE (EKH), will invest $500 million over the coming five years, CEO Sherif El-Zayat has revealed. El-Zayat said the company will invest $100 million a year and has made available $100 million to seize any acquisition opportunities during the upcoming period. In this vein, the firm already decided […]
The European Bank for Reconstruction and Development (EBRD) has rubber-stamped the loan of $25 million for Egypt-based United Metals Company (UMC). The funding is aimed at backing the company’s working capital needs amidst the COVID-19 pandemic. The loan will enhance the Company’s financial resilience to withstand the potential negative implications of the COVID-19 pandemic through […]
The visit last week of Libyan Marshal Khalifa Haftar to Egypt, according to Cairo and Washington, is part of the efforts led by the international community to succeed in the political process and lead to general elections at the end of the year in Libya. For the sake of balance, Egypt also announced that it […]