Leading News Source For Middle East
The Egyptian government has signed an agreement with France for manufacturing and supply of 55 air-conditioned rail carriages for the First Line of Cairo Metro for €776.9 million, the Arab country said in a statement according to Arab Finance. Alstom Read more
Egypt and Vicat Group, a French cement producer, have reached a final settlement with the Egyptian government over an investment in an effort by the Arab country to attract more foreign direct investments. The agreement was signed by Minister of Read more
Egypt’s President Abdelfattah al-Sisi Tuesday hosted in the resort city of Sharm El Sheikh both Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces and Israeli Prime Minister Naftali Bennett in a Read more
Egypt’s three biggest state-owned banks are setting up an $85 million financial technology fund that aims to accelerate innovation in the sector, Reuters reports citing venture capital firm Global Ventures, a partner in the fund. Global Ventures, which focuses on Read more
Egypt Sunday hosted political consultations with Saudi Arabia on bilateral relations and regional issues as ways to boost their ties, Daily News Egypt reports. The talks, the media notes, dealt with a number of regional and international files of mutual Read more
Saudi Arabia’s sovereign wealth fund, Saudi Public Fund, will set up a public fund in Egypt per an agreement signed with the Arab republic, amid Cairo’s search for financial support from Gulf countries. The deal was signed Thursday in Cairo Read more
The International Finance Corporation (IFC), a member of the World Bank Group, announced Wednesday the investment of $5 million a new venture capital fund from Disruptech Ventures to support development in Egypt’s fintech sector and help expand access to financial Read more
The Egyptian government has branded rubbish reports it is in talks with the International Monetary Fund (IMF) for an assistance package. Planning minister Hala El-Said told Reuters the Arab country is not seeking a loan from the Washington-based institution, Arab Read more
AG Café has announced plans to open 110 more branches of Tim Hortons in Saudi Arabia by 2024, taking the total number of stores across the country to 200, Zawya reports. The company runs 190 stores, in total across the Read more
The Egyptian Electricity Transmission Co., EETC, will sign a purchase deal with Saudi Arabia’s ACWA Power for wind energy of 1,100 megawatts, Zawya reports. EETC, the media notes citing sources, the project would cost over $1.2 billion and would be Read more