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Saudi Arabia and Egypt have agreed to enhance cooperation against corruption, exchange experiences and information related to corruption crimes, and strengthen both countries’ institutional capacity in this field, Arab News reports. Both countries signed a memorandum of understanding for the Read more
First Abu Dhabi Bank-Egypt is set to complete the acquisition of Bank Audi-Egypt in collaboration with the Arab country’s Central Bank of Egypt (CBE), Arab Finance reports. FAB and Bank Audi agreed in January this year for a merge with Read more
Three Egyptian siblings died Monday after an apartment building collapsed in a southern Egyptian province of Beni Suef, reports say. Two brothers, aged 8 and 12 and their 11-year-old sister were removed from the rubble of the two-story building in Read more
Europe’s biggest gas pipeline group Snam has acquired a 25% stake in East Mediterranean Gas Company (EMG), which owns a pipeline between Israel and Egypt, marking its entrance into a high gas demand area, Reuters reports. Snam will invest $50 Read more
General Motors Co and its Egypt dealer Al Mansour Automotive Co ink have signed to study joint manufacturing of electric vehicles in Egypt and, once finished, ask the government for support, Zawya reports citing Mansour Automotive Chairman Mohamed Mansour. Both Read more
Qatar will pay this month the salaries of civil servants in Gaza Strip following agreement with Egypt on the payment mechanism, reports say. Per the agreement, Qatar will provide money for employees indirectly by buying fuel from Egypt. Hamas, the Read more
Egyptian Minister of Military Production Mohamed Ahmed Morsi and the president of the Saudi General Organization for Military Industries Mohammed bin Hamad Al-Mady discussed Monday the possibility of exchanging experiences and manufacturing technology, Arab News reports. They met on the Read more
Egypt and Jordan Sunday agreed to double the capacity of their joint power interconnection to 1,000 megawatts, reports say. The Jordanian energy minister Saleh Kharabsheh reached the deal with Egypt’s minister of electricity Mohamed Shaker in the kingdom. The agreement Read more
The Central Bank of the Republic of Turkey (CBRT) and the Central Bank of the United Arab Emirates (UAE) signed cooperation agreement between the two institutions on the sidelines of Abu Dhabi Crown Prince Mohammed bin Zayed’s visit to Ankara Read more
Egypt’s Financial Supervisory Authority (FSA) has approved Abu Dhabi-headquartered Aldar Properties’ bid to acquire real estate developer SODIC, Zawya reports citing the Emirati Company. Aldar Properties made the offer to acquire 90 per cent of Al Sheikh Zayed City-based Company Read more