First Independent Mena Newspaper
Egypt is looking to attract $10 billion-foreign direct investments for the fiscal year 2022-2023, Arab Finance reports citing a report by the Ministry of Planning and Economic Development on the goals of the budget bill. The report says the government is also pursuing the creation of around 900,000 jobs annually to keep the unemployment rate […]
As Kenyans head to the polls on August 9, East Africa’s largest economy could be headed for tough times. With the country’s currency having depreciated sharply, Kenya’s Treasury will face difficulty paying back its huge dollar-denominated debt. Kenya is among developing countries facing an economic crisis, according to a recent report released by Moody’s Investors […]
More cooperation was needed among developing nations to overcome dwindling foreign currency reserves, a growing energy crisis and supply chain disruptions, according to business leaders and officials from eight developing nations meeting in Bangladesh. Representatives from Egypt, Nigeria, Turkey, Iran, Malaysia, Pakistan and Bangladesh under the banner of D-8, or developing eight countries, were discussing […]
New Delhi’s ambassador in Cairo Ajit Gupte announced plans by the Asian country to invest $700 million in the coming few years, Arab News reports. Gupte made the announcement during a meeting with Egyptian and Indian businessmen. Indian investments in Egypt currently stand at $3.15 billion, the diplomat also noted. The announcement came as a […]
Central Bank of Somalia (CBS) has recently granted its first two foreign banking licenses — to Turkey’s Ziraat Katılım bank and Egypt’s Banque Misr — in decades as the country seeks to rebuild its financial sector and attract international investment. Both state-owned financial institutions were approved by Somalia’s central bank at the start of July. […]
Following a visit to Egypt and the Republic of Congo, Russian Foreign Minister Sergey Lavrov has now (26 July) arrived in Uganda as Moscow aims at strengthening its ties with the continent. Uganda’s President Yoweri Museveni has a long history of balancing strong relations with Western allies and good ties with Moscow. Lavrov has earlier […]
Bahrain has officially joined the integrated industrial partnership alongside Egypt, UAE, and Jordan, Egypt’s Ministry of Trade and Industry said in a statement on Thursday. The announcement came during the second higher Committee meeting of the integrated industrial partnership, in the Egyptian capital Cairo. Egyptian Minister of Trade and Industry Nevine Gamea who chaired the […]
Russia’s Foreign Minister Sergey Lavrov Sunday said Russian grain exporters are committed to their obligations regarding international wheat orders. Russia’s top diplomat was in Cairo Sunday to meet with Egyptian authorities and the Arab League. Lavrov during a joint press conference with his Egyptian counterpart Sameh Shoukry said that his country took many steps to […]
Egypt and Russian energy company Rosatom have announced the beginning of construction work of the North African country’s first nuclear plant. The plant is being built at El-Dabaa on the country’s north coast and is expected to have four units, each with a generating capacity of 1,200MW. The project has been in the pipeline since […]
Egypt and Serbia inked a group of agreements and Memorandum of Understanding as President Abdelfattah al-Sisi visited the European country Wednesday. Al Sisi met with Aleksandar Vucic in capital Belgrade following a visit to Germany the day before. Both leaders oversaw the signing of several accords. One agreement in the field of higher education was […]