First Independent Mena Newspaper
It was not a joyful day at the Egyptian Exchange just like any other day since the beginning of the week. Tuesday was among the worst as losses continue to increase with the Egyptian Exchange (EGX) 30 benchmark index dropping by 1.95% to reach 5,129 points at the end of the session compared to 5,231 […]
A total of 443,535,902 shares of the ‘’National Société Générale Bank’’ (NSGB) have been acquired by the Qatar National Bank (QNB) at a selling price of EGP 35.65 per share. The 100% acquisition of the shares cost the Qatari bank EGP 16.142bn. The NSGB is a subsidiary of the French Société Générale Bank in Egypt. […]
After the arrest of several Libyans in Egypt amongst which is Ahmed Qadhaf al-Dam, Khadafi’s cousin who served as Egypt-Libya relations coordinator under Khadafi’s regime, who is wanted in his native country. Libya has been demanding for their extradition during the past week, has now come up with a bulky incentive to Egypt. According to […]
Egypt has received warnings that the European Union (EU) would stop its aid package of €5 billion if its reforms for democracy fail to be effective. In the European Union’s latest report, the European Commission was unsatisfied with the progress Egypt has registered since the elected government took over. EU has already cut some of […]
Despite the surging interest, Libya continues to close its door to foreign banks on the basis that the legal framework is still under preparation. One of the latest banks to have its request rejected on numerous occasions by the Libyan Monetary Authority (LMA) is the National Bank of Egypt (NBE) according to reports. The NBE […]
President Morsi’s state visit to India has been marked by the signing of multiple pacts in different domains to take their bilateral relation and cooperation to “another level”. Prime Minister Manmohan Singh said talks were “extensive and very productive” pointing out that they both have enormous potential for deepening cooperation across the full spectrum of […]
After more than three years of limited business transactions between Algeria and Egypt due to the heavily contested FIFA World Cup qualifying match which was won by Algeria in 2009, businessmen in Egypt are willing to have a renaissance. They are planning on establishing an industrial zone within Algeria in an attempt to create and […]
Good news is coming out of Egypt’s Sukari gold mine. Centamin has announced that it is expecting more than a 20% increase in its production this year. The company which is focused on mineral exploration, development and mining has been achieving positive results for the past couple of years. Some of the company’s expansion projects […]
If Egypt has declared that it’s no more interested in International Monetary Fund’s (IMF) loan, Tunisia on the other hand has not ruled out its emergency loan which is on standby. However, planned protests and strikes for the following weeks might jeopardize the Tunisian government’s ability to overcome its shaky finance and at worst, its […]
The Egyptian government has set aside several development and investment projects despite the ongoing crisis as revealed by the ministers of the civil aviation and investment respectively. The Civil Aviation Minister, Samir Embaby Mewaly, has announced that the government will be pumping $20 million in a project aimed at developing the vicinity of the capital’s […]