First Independent Mena Newspaper
Egypt and Saudi Arabia will sign soon multiple contracts for a 2 GW electricity transmission network that will connect the two countries’ grids. The project worth $1.6 billion will connect both countries’ grids with 900 kilometers of overhead transmission cables and pass across the sea bed, for 25 kilometers. Egypt will finance 40 per cent […]
Libya has signed multiple billion-dollar contracts with a number of Egyptian companies to set up power stations in the oil-rich country. Salama Al-Ghwail, Libya’s State Minister for Economic Affairs, told Egyptian media the contracts are worth between $1.5 billion and $2 billion. Al-Ghwail said Egyptian companies should win between 60 to 70% of the reconstruction […]
Israeli Prime Minister Naftali Bennett will travel “soon” to Egypt to meet with President Fattah al Sisi in the Sinai Peninsula, Israeli media reports. Bennett will sit down with al-Sisi in the Sinai resort city of Sharm el-Sheikh, ‘Times of Israeli’ reports citing Kan broadcaster. Kan did not provide details on the timeframe but […]
Egypt has announced the discovery, in the city of Alexandria, of the remains of “residential and commercial” areas dating back to at least the second century BC, and the fossil of a new species of amphibian whale dating back 43 million years in Fayoum, south of Cairo. In a statement posted on Facebook, the Egyptian […]
The European Bank for Reconstruction and Development (EBRD) has rubber-stamped the loan of $25 million for Egypt-based United Metals Company (UMC). The funding is aimed at backing the company’s working capital needs amidst the COVID-19 pandemic. The loan will enhance the Company’s financial resilience to withstand the potential negative implications of the COVID-19 pandemic through […]
The visit last week of Libyan Marshal Khalifa Haftar to Egypt, according to Cairo and Washington, is part of the efforts led by the international community to succeed in the political process and lead to general elections at the end of the year in Libya. For the sake of balance, Egypt also announced that it […]
Russian security forces have been dispatched to sharm El-Sheikh and Hurghada Airports in Egypt as direct flights from Moscow and two resort destinations in the Sinai resume. EgyptAir flight MS724 took off from Moscow with 300 people on board and landed in Hurghada without incident, the airline said. Russia last month said direct flights between […]
Egypt’s tourism ministry moved Saturday the pharaonic solar boat of ancient King Khufu to the Grand Egyptian Museum, as part of efforts to preserve the iconic historical piece for future generations. The boat, dating back to some 4,500 years and discovered in 1954 at the southern corner of the Great Pyramid of Khufu, was exhibited […]
Libyan and Egyptian Attorney Generals signed a Memorandum of understanding (MoU) on increased cooperation in the fight against terrorism, human trafficking, and other crimes. The MoU was signed during a meeting last week in Cairo between visiting Libya’s Attorney General Sideeg Al-Sour and Egyptian counterpart Hamada Al-Sawy, Libya Herald reports. Under the agreement, the two […]
The International Finance Corporation, IFC, a member of the World Bank, will invest $100 million in the first private sector green bond in Egypt, to help fund climate-smart projects, alleviate greenhouse gas emissions, and support Egypt’s shift to a greener economy, the institution said in a statement. The bond, the first by the private sector, […]