Egypt’s GAFI, Japan’s Yazaki Europe ink MoU to set up new car components factory

Egypt’s General Authority for Investment and Free Zones (GAFI) signed on April 5th a memorandum of understanding (MoU) with Japanese operating automotive supplier Yazaki Europe Limited for the establishment of a new factory for car components in Faiyum, 62 miles Read more

Qatar to inject $5 billion into Egypt’s economy as countries boost renewed ties

Qatar will invest $5 billion into the Egyptian economy in unspecified sectors, the government of the Arab republic has said a statement. Statement came following a meeting on March 29th in Cairo between the Egyptian Prime minister Mostafa Madbouli and Read more

Egypt’s EFG Hermes appoints Goldman Sachs as financial advisor on FAB’s offer to acquire majority stakes

Cairo-based investment bank EFG Hermes has appointed Goldman Sachs to advise on First Abu Dhabi Bank’s (FAB) offer to acquire a majority stake, the bank has said in a statement. The board of Egypt’s largest investment bank also said it Read more

Egypt, South Korea sign two military cooperation agreements spanning over defense industries and logistical support

Egypt and South Korea have inked two Memorandums of Understanding (MoU) in military cooperation covering defense industries and logical support, Arab News reports. The first memorandum, the Saudi media notes, covers defense industries and logistical support, and the second covers Read more

Standard Chartered to open shop in Egypt in September

British bank Standard Chartered will start operating in Egypt from September after it has received preliminary approval from the Central Bank of Egypt (CBE). Gamal Negm, the deputy Governor of the CBE, reportedly revealed that Standard Chartered will open its Read more