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Egypt will begin exporting from October this year up to 3,000 MW/h of electricity to Cyprus and Greece, the Arab republic’s electricity ministry said in a statement. The department headed by Mohamed Shaker, did provide details on revenues that the Read more
The European Bank for Reconstruction and Development (EBRD) has granted Egypt a loan worth €25 million for financing the country’s first dry port in the city of 6th of October, reports say. The financial facility will cover the design, development, Read more
The Egyptian Ministry of Petroleum signed a memorandum of understanding with Japan’s Toyota Tsusho to assess the opportunities for producing blue ammonia in Egypt, Arab News reports citing Asharq. The ministry in the statement said economic facilities studies and the Read more
Enwan Developments, real estate developer in Egypt, will launch the first technology mall, Pixel Technology Mall, in the Downtown area in the new administrative capital (NAC) with total investments worth around $19 million, reports say. The mall will serve the Read more
Saudi and Riyadh-headquartered storage and delivery startup Diggipacks has acquired shares in its Egyptian counterpart FWRUN and will expand its business in the country, Arab News reports, citing a statement from the company. Per the acquisition, both companies will exchange Read more
Seattle-based logistics giant Amazon opened Tuesday in Egypt its first logistics center in Africa as part of the efforts to expand its footprint in the Arab republic and increase investment in the country’s infrastructure, advanced technology and e-commerce sectors. The Read more
Egypt’s Central Bank Tuesday reported $28.5 billion of remittances by Egyptians working abroad, a 13 per cent increase year-on-year from July 2020 to May 2021, the first 11 months of Egypt’s financial year (FY), Reuters reports. The remittances according to Read more
The Arab Monetary Fund, AMF, has allocated a credit line worth $282 million to Egypt to help the Arab republic implement economic and financial reforms and overcome various challenges, the financial institution said in a statement. The Abu Dhabi-headquartered organization Read more
Iraq is set to invite Iran’s new President Ebrahim Raisi to attend a regional conference in Baghdad late this month that will also include Saudi Arabia. Iraqi top diplomat Fouad Hussein, according to his department, landed in Teheran Wednesday in Read more
UAE-based Company, Sky Abu Dhabi Real Estate Development, the real estate arm of Diamond Group is planning to invest 15 billion Egyptian pounds ($959 million) in Egypt in the next two years, including more than 4 billion pounds in two Read more