First Independent Mena Newspaper
Egypt’s President Abdelfattah al-Sisi has named Hassan Abdallah as acting governor of the central bank of the country after the former chief resigned Wednesday. Abdallah until the appointment Thursday was Chairman of the Board of Members of the United Media Services Group (UMS). The 62-year old man replaces Tarek Amer who resigned Wednesday but was […]
President Abdelfattah al-Sisi has named Tarek Amer as presidential adviser after the latter resigned from his job that he was supposed to hold for another year. Local media Gate Ahram has revealed that al-Sisi accepted his resignation as Governor of the central bank and appointed him as close aide. Amer submitted his resignation to the […]
Egypt’s central bank governor, Tareq Amer, resigned on Wednesday amid the country’s ongoing economic crisis and the Egyptian President accepted his resignation, according to several press reports. Amer had been at the helm of the central bank since 2015, and was due to hold the position for another year. The resignation comes amidst a severe […]
The Central Bank of Egypt, (CBE) collected around $5.2 billion (EGP 100 billion from local banks in the weekly open market operations (OMO) as the North African country turns to local, regional and international banks for loans to address growing economic pressures. The CBE data indicate that the funds were raised at a fixed rate […]
Egypt is considering taking a loan estimated at around $2.5 billion from regional and international lenders to tackle growing economic pressures, reports say. The government, Bloomberg has revealed citing sources familiar with the matter, is negotiating with regional and international banks over the details of the financing. The talks, the unnamed sources told the US […]
A fire that broke out on Sunday in the middle of a mass in a church in a working-class district of Cairo has killed 41 people, leaving the Middle East’s largest Christian community of 10-15 million Egyptians in grief. “The air conditioner in a classroom on the second floor of the church building broke down […]
Danish shipping company Maersk is planning to inject around $500 million worth of investments into the Suez Canal Container Terminal in East Port Said, statement issued by the Suez Canal Authority (SCA) indicated Thursday. The money will go into the development of a new container dock with a length of 1,000 meters beside the current […]
The recently-launched Saudi-Egyptian Investment Company (SEIC) has reportedly added three other Egyptian listed company to its portfolio after acquiring fertilizer giant MOPCO. Abu Qir Fertizilers and Chemical Industries, Alexandria Container and Cargo Handling and E-Finance for Financial and Digital Investments are the companies, Zawya reports citing Egypt’s planning ministry’s website. SEIC also reportedly acquired 25 […]
A flight of Egypt’s national carrier EgyptAir landed Tuesday at Tripoli’s Mitiga International Airport for the first time since 2014. The flights, according to the airliner, will continue till October 11 to transport groups of tourists from Libya to the Egyptian Red Sea resort city of Sharm El-Sheikh. The flag carrier will operate a weekly […]
The recently launched Saudi-Egyptian Investment Company (SEIC) is set to acquire 25 per cent of stakes in Egyptian fertilizer giant Misr Fertilizers Production Company (MOPCO) for an unrevealed amount. The deal, Arab Finance reports citing a source who asked not be named, might have been executed Tuesday or it would be carried out this Wednesday […]