First Independent Mena Newspaper
Three Egyptian banks, including Banque du Caire, will launch this month a fintech fund estimated at around $83 million amid increase in investment in Egypt’s fintech industry. Banque du Caire is joined by National Bank of Egypt (NBE) and Banque Misr to carry out the initiative, Rasha Negm, Assistant Sub-Governor Information Technology at NBE indicated. […]
Speaker of Egypt’s Senate Abdel-Wahab Abdel-Razek has called for enhancing further cooperation ties with Morocco through support measures propping up partnership between the two countries. He made the remarks following his meeting Tuesday in Rabat with Moroccan foreign minister Nasser Bourita. Speaker of the Egyptian Senate is visiting Morocco to take part in the 11th […]
The Egyptian government is set to dedicate 30% of the new budget for green investments, as compared to 15% in FY 2021/2022, minister of Finance said. Mohamed Maait also indicated that Egypt is planning to raise green investments under the FY 2024/2025 budget to 50%, Arab Finance reports. Egypt has embarked on the development of […]
The International Islamic Trade Finance Corporation (ITFC) will provide Egypt with $1.5 billion, a new financing agreement earmarked for imports of petroleum and basic commodities. Hani Sonbol, ITFC CEO announced the agreement to Bloomberg Asharq adding that the amount includes $800 million for petroleum imports and $700 million for basic commodities. The new deal is […]
Egypt is seeking another financial support from the International Islamic Trade Finance Corporation (ITFC) to back micro-, small-, and medium-sized enterprises (MSMEs) after the country secured last month $2.6 billion to fund developmental projects. The Ministry of Planning and Economic Development Monday indicated that the signing will take place this month, Arab Finance reports. The […]
Russian private military company Wagner has flown out of Libya 300 Syrian fighters back to the Middle East country, Libya Observer reports citing Syrian As-Suwayda 24 News Network. The fighters reportedly left Thursday through Benghazi airport in eastern Libya to the Hmeimim Air Base in Syria. The fighters made up the 42nd Brigade and were […]
Morocco has been eliminated in the quarter-finals of the African Cup of Nations soccer tournament, after losing to Egypt by a score of 2 goals to 1 after extra time, on Sunday at the Ahmadou Ahidjo stadium in Yaounde. The Atlas Lions opened the score in the 7th minute thanks to Sofiane Boufal on a […]
At first it was described as a working visit, but when Algeria’s President Abdelmedjid Tebboune landed in Cairo to meet his counterpart General Sisi, the trip was described as a private and friendship visit, from which he actually returned empty handed. Algerian commentators said the visit was without an invitation and was at the request […]
After suffering a diplomatic humiliation with the cancelation of the Arab summit that was planned in March in Algiers, Pdt. Abdelmajid Tebboune flew on Tuesday to Cairo seeking Egypt’s leverage to shore up Arab support for the summit venue. The hubris of Algerian military junta, de facto rulers, has been shaken to the core by […]
Morocco has resolved a trade dispute with Egypt that was sparked in March last year after Cairo denied entry to vehicles made in the Tangier factory. Egyptian authorities have denied entry to some 300 cars made in the Renault factory in Tangier, claiming these were not included under the free trade deal because they were […]