Leading News Source For Middle East
First Abu Dhabi Bank (FAB) , the UAE’s biggest lender, has withdrawn its offer to buy a controlling stake in Egyptian investment bank EFG Hermes, the bank said in a statement on Thursday, reports say. “After careful consideration and in 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
Shrimp Nation, the largest seafood restaurant chain in Saudi Arabia, plans to open its first branches in the UAE with an investment value of AED 10 million ($2.72 million), Trade Arabia reports. “We are delighted to expand and open branches 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
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
Egypt’s Prime Minister Mostafa Madbouly Monday said the Arab republic is eager to host the new headquarters of the African Medicines Agency (AMA). AMA headquarters, Madbouly hints, will be located in Egypt’s new administrative capital. Madbouly, Arab News reports, indicated Read more
Malta Government Investments (MGI), the Sovereign Fund of Egypt (SFE), and French public investment bank Bpifrance have signed to found the European, Middle East, and North Africa (EMENA) Sovereign Wealth Funds Foundation in Malta, the three said in a statement. Read more
Saudi Arabia has deposited $5 billion at the Central Bank of Egypt (CBE), the kingdom’s press agency SPA has announced. As part of historical solid bonds and close cooperation relations between the Kingdom of Saudi Arabia and the Arab Republic Read more
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