First Independent Mena Newspaper
The European Bank for Reconstruction and Development (EBRD) is set to approve by end of May a $100 million loan program to Banque Misr, under the Financial Intermediaries Framework (“FIF”), to finance micro, small, and medium enterprises (MSMEs). The program, according to the EBRD website, will support BM’s lending to private MSMEs in Egypt, where […]
Not all Africans are poor — this could arguably be the main message from the 2023 edition of the annual Africa Wealth Report by London-based Henley & Partners that reveals that the ‘Big 5’ wealth markets in Africa — South Africa, Egypt, Nigeria, Kenya, and Morocco — together account for a significant 56% of Africa’s […]
Egypt and Greece have signed a Memorandum of Understanding (MoU) to launch a periodic dialogue between their ministries of Finance in order to exchange views on financial policy issues and topics, mechanisms of developing technical cooperation, the Egyptian Finance Ministry said in a statement. Mohammed Moait, Egypt’s Finance Minister signed the deal with his hosting […]
Thirty five people, including 26 tourists of different nationalities, were rescued Tuesday after their tourist boat capsized in the northern Red Sea, during a cruise to one of the local diving areas. The victims were rescued by workers on another tourist boat sailing nearby, Al-Masry Al-Youm reports. The tourists were transferred to a nearby marina, […]
Mohamad El-Gharawi, a staff member of the Egyptian embassy in Khartoum was killed in the ongoing conflict between the Sudanese army and the paramilitary Rapid Support Forces, the Egyptian Foreign ministry announced this Monday. Gharawi was slain on the way from his residence to the embassy headquarters to follow up on evacuation procedures for Egyptians […]
The Egyptian Foreign ministry Sunday said one member of its staff at the country’s mission in the Sudanese capital Khartoum has sustained injuries after suffering from a gunshot. Ahmed Abu Zeid, spokesman for the ministry did not name the staff member and urged Egyptians in Sudan to exercise the utmost caution amid the ongoing fighting […]
An Egyptian court in the city of Alexandria Tuesday sentenced famous model and blogger, Salma Elshimy to two years in prison over filming and broadcasting inappropriate videos via the Internet in exchange for sums of money obtained through increased views, Egypt Independent reports citing police. Salma Elshimy’s accounts on Instagram, TikTok, and YouTube circulated video […]
Chinese consumer electronics manufacturer OPPO is considering setting up a smart phone producing plant in Egypt with a total investment of $20 million, the CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba said Sunday. The venture Heiba added during a meeting with Prime Minister Mostafa Madbouly will generate 650 jobs. […]
Egypt’s General Authority for Investment and Free Zones (GAFI) will launch a digital platform that enables investors to establish their companies online on July 1st, the authority’s Chief Executive Officer announced Thursday. Hossam Heiba made the announcement as he met with Swiss ambassador in Cairo, Vonne Bauman. The Authority is adopting mechanisms for dialogue between […]
Egypt and India unveiled Sunday the cornerstone for a polyethylene (PET) production factory to cost a $110 million investment, in Ain Sokhna, Suez governorate. The project is planned to have a production capacity of 30,000 tons per month, Ahram Online reports. The construction will go through two phases, the first starting during the first half […]