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The World Bank’s Board of Executive Directors yesterday approved a $500 million loan to bolster Egypt’s efforts to ensure that poor and vulnerable households have uninterrupted access to bread, to strengthen Egypt’s resilience to food crises and to support reforms Read more
Egyptian President Abdelfattah al-Sisi Monday praised Saudi Arabia and the UAE for supporting the Arab African country economically as it faces an acute economic hardship compounded by the Russia-Ukraine crisis, Middle East Monitor (MEMO) reports. “Saudi Arabia and the UAE Read more
Turkey’s $20-billion plant project, the first ever by the country, is being threatened as Western sanctions heap up on Russia over its invasion of Ukraine. Operations of the first reactor of the Akkuyu Nuclear Power Plant, located on the Mediterranean Read more
India has exempted Egypt from its ban on wheat exports after heat waves dealt a blow to the crop’s production, reports say. Egyptian Minister of Agriculture Al-Sayed El-Quseir reportedly Sunday told Bloomberg Agency that India’s decision of last week will Read more
The UAE Monday announced a $4.2 billion Investment Initiative to facilitate investments in the Greek economy across a wide range of sectors, reports say. This came as part of several other agreements signed between the two countries as Prime Minister Read more
Egypt is planning to go after the Latin America and Asia tourism markets, the Arab republic’s Deputy Tourism Minister has told Bloomberg in an interview, Arab Finance reports. Ghada Shalaby told US media that the plan comes as an attempt Read more
Saudi monarch King Salman has instructed Saudi Arabia’s humanitarian charity to provide urgent medical and shelter aid worth $10 million to Ukrainian refugees who have fled to neighboring countries, mainly Poland, Arab News reports. “King Salman directs KSrelief to provide Read more
The Egyptian Businessmen Association (EBA) is set to submit a proposal to the government to open RUB banking accounts for exporters to Russia, Arab Business reports citing Borsa News. The proposal, EBA Chairman Ali Issa told Borsa News, will be Read more
The European Union, EU, according to the bloc’s Executive Vice-President Frans Timmermans, is looking to up its imports of liquefied natural gas (LNG) from Egypt in the short term – and contribute to building a local green hydrogen production facility Read more
The European Union has pledged to Egypt with €100 million to surf the consequences of rising prices of food and commodities as part of the bloc’s response to mitigate the impact of Russia’s war against Ukraine on the EU’s partner Read more