First Independent Mena Newspaper
Senior members of the European Parliament (MEPs) have accused the EU executive of “bankrolling dictators”, claiming that the €150 million it gave to Tunisia last year in a migration and development deal went straight to the country’s president, Kais Saied. The group of MEPs on the human rights, justice and foreign affairs committees at the […]
Egypt is reportedly set to receive up to 7.4 billion euros in funding from the European Union under a major ‘cash for migrant control’ pact which could be formally announced during the upcoming visit of the European Commission chief to Cairo this Sunday (17 March). The EU support package is intended to relieve pressure on […]
Nigeria will apply for membership of the BRICS in the next two years and it intends to join the group with or without pressure from the West, the country’s foreign minister Yusuf Tuggar has said. During a recent three-day working visit to Russia, where he held talks with his Russian counterpart Sergey Lavrov, Tuggar re-iterated […]
Only days after the announced $35 billion deal with the UAE for the development of Ras al-Hekma on its Mediterranean coast, Egypt is reportedly also targeting investors from Qatar and Saudi Arabia offering them prime Red Sea coastal land in Ras al-Ghamila in South Sinai for sale as part of Cairo’s attempt to inject cash […]
Egypt and the United Arab Emirates (UAE) have signed a landmark $35 billion investment deal to develop Ras al-Hekma peninsula on the Mediterranean coast that, economists say, will inject $35 billion of foreign direct investment into the struggling Egyptian economy, helping it to bolster economic growth and address a hard currency crisis. The deal is […]
Senior leaders from Sudan’s army and the paramilitary Rapid Support Forces (RSF) reportedly met three times in January for unannounced talks in Bahrain, the first such contact between the two warring sides in nine months of conflict, just as the United Nations has warned that the number of people uprooted by the war is almost […]
Egypt will extend for additional three months the tax-free car import initiative launched by the country in view of widening the beneficiary base, Arab Finance reports. Finance Minister Mohamed Maait who made the announcement said that the number of beneficiaries has increased by more than three times during the first two months of the initiative’s […]
Escalating attacks by Yemen’s Houthi rebels on ships in the Red Sea have not only unraveled a key global trade route, sending shipping and insurance costs soaring, but they are also threatening to again push up the cost of living in Africa that is already struggling with crippling debt. The Red Sea crisis and the […]
Egypt and Italy have inked an agreement for the international transport of goods by towed land vehicles, trailers, and semi-trailers, using roll-on/roll-off (RoRo) line, ‘Arab Finance’ reports citing the Egyptian government. Under the deal, initialed by Minister of Transport Kamel Al-Wazir and Ambassador of Italy to Cairo Michele Quaroni, RoRo is scheduled to start during […]
The European Bank for Reconstruction and Development, EBRD, has committed to a provisional equity investment of up to $75 million in HAU Energy BV, a funding vehicle established by Hassan Allam Utilities that operates in Egypt and is running a project known as 1.1 GW Gulf of Suez wind farm. The investment is set to […]