First Independent Mena Newspaper
Egypt and Saudi Arabia signed Sunday two deals for industrial cooperation covering non-oil exports and auto industry, Ahram Online reports. The first Memorandum of understanding (MoU) involved the export authorities of both countries to boost cooperation on non-oil exports. The second deal is signed between Saudi National Industrial Development Centre and Egyptian consumer finance company […]
US First lady Jill Biden has arrived Friday in Egypt, second stop on a week-long, four-country tour in the region that reaffirms the commitment of the USA to strengthening partnerships and advancing shared priorities in the region. In Egypt, Jill Biden, according to the US embassy, will meet with women and youth and highlight US […]
The Egyptian Armed Forces received Monday a MEKO A-200 frigate, a second frigate built by Germany, several months after taking delivery of the first out of 4 ordered. The military vessel dubbed Al-Qahhar by the Egyptian Navy was built by German shipbuilder Thyssenkrupp Marine Systems (TKMS) at SBN Shipyard. Commander of the Egyptian Navy Ashraf […]
Egypt is in advanced talks with China for the purchase of around 12 of the latest version of the J-10 Vigorous Dragon multirole combat fighter jet, The New Arab reports. Talks between the two sides started last year and the North African country is expected to send representatives of its Air force to the Chinese […]
A Hong Kong-flagged ship has run aground in Egypt’s Suez Canal causing traffic jam, reports say adding that authorities are at work to refloat the ship. “M/V XIN HAI TONG 23 has grounded in the Suez Canal at KM 159/0400 hrs”, Leth Agencies said in a tweet. The situation, the agency said, left behind 4 […]
Earlier this May, Fitch downgraded Egypt’s sovereign rating to “B” with a negative outlook. Three of the four banks, whose ratings it downgraded, are public banks exposed to the state. Rating agency Fitch downgraded on May 17 the credit ratings of four major Egyptian banks, namely The National Bank of Egypt (NBE), Banque Misr, Banque […]
The UAE International Investors Council and the Egyptian-Emirati Business Council have signed a Memorandum of Understanding (MoU) to enhance cooperation and the existing investment partnerships. The deal aims to increase investment opportunities in the new economy, green projects, recycling, clean projects, the technology sector, and new digital technologies. It also provides for exchanging expertise as […]
The African Development Bank Group, AfDB, has greenlighted a partial credit guarantee of $345 million to Egypt for the financing of green and social projects, reports say. Egypt expects to use the credit guarantee to raise the equivalent of $500 million in the Chinese Yuan denominated Panda Bond market, issued by foreign borrowers, Egypt Today […]
The Central Bank of Egypt (CBE) has handpicked Barclays Bank as an international sell-side advisor for the sale of its 99% stake in the state-owned United Bank, Egypt Today reports. Barclays will work alongside local financial advisor, CI Capital, the media also notes. United Bank is one of the 32 state-owned companies the Egyptian government […]
Moroccan foreign minister Nasser Bourita is taking part in the preparatory meetings for the 32nd Arab Summit due in Jeddah on May 19. The summit comes amid ongoing Sudan crisis, the Israeli-Palestinian conflict, continuing tension between Morocco and Algeria over the Sahara issue, Syria’s return to the Pan-Arab organization, the Iranian and Turkish interferences in […]