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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
Baladna QPSC, Qatar’s largest locally-owned food and dairy producer, has acquired 5 per cent in Egypt’s Juhayna Food Industries in return for a total investment of $18.4 million. The company in a statement to the Qatar Stock Exchange (QSE), Zawya Read more
Morocco’s Parliament Upper House and Egypt’s Senate have agreed to enhance further cooperation between the two legislative institutions on issues common concern. An agreement to this end was inked Tuesday in Rabat by Speaker of the House of Advisors, Naama Read more
British-Swedish multinational pharmaceutical and biotechnology company AstraZeneca has unveiled plans to double its investment in Egypt in the next three year, reports say. Hatem Werdany, Director of the company in the Arab Republic, has indicated that the multinational has invested Read more
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 is planning to install 5,000 communication towers with $318 million in investments, Communication minister Amr Talaat has told Al Arabiya.net in an interview, Arab Finance reports. The project will take five years for completion and will be implemented in Read more
Egypt and Yemen have signed a Memorandum of Understanding (MoU) for cooperation in several fields including oil, natural gas, and mining, Arab Finance reports. Egyptian Minister of Petroleum Tarek El Molla signed the agreement with his Yemeni Abdul Salam Baaboud Read more