Leading News Source For Middle East
Alexandria-based petrochemical giant Sidi Kerir Petrochemicals Company (Sidpec) has signed a Memorandum of Understanding (MoU) with Nigeria’s Rungas Group to assist in building a petrochemical complex in Africa’s most populated nation. Per the deal, reports say, Sidpec will provide its Read more
Egypt and South Korea have inked two Memorandums of Understanding (MoU) in military cooperation covering defense industries and logical support, Arab News reports. The first memorandum, the Saudi media notes, covers defense industries and logistical support, and the second covers Read more
Egypt and France launched Sunday for several days Amun-22, an air training program at a number of Egyptian air bases, Arab News reports. The training, according to Egyptian Military Spokesman Ghareeb Abdel Hafez Gharib, includes the implementation of theoretical and Read more
Egypt is set to resume the privatization program of state-owned companies in March, Finance Minister Mohamed Maait told Bloomberg Asharq, Arab Finance reports. “We can expect more state-owned companies to offer shares on the EGX in the coming weeks,” Maait Read more
Egypt’s Ministry of Transport is close to signing a contract with Siemens for the construction of the country’s second high-speed train, Arab Finance reports. The project, to connect 6th of October city to Aswan with a length of 925 kilometers Read more
The Egyptian government is considering the privatization of state companies every month to attract private investors, Planning Minister Hala al-Said told Reuters. “We’re trying to select the right companies that can attract good institutional and good private sector (investors), and Read more
The International Islamic Trade Finance Corporation (ITFC) approved a financing of $2.6 billion to fund developmental projects in Egypt, Arab Finance reports citing a statement by the Egyptian Ministry of Trade and Industry. “The ITFC is one of the most Read more
British bank Standard Chartered will start operating in Egypt from September after it has received preliminary approval from the Central Bank of Egypt (CBE). Gamal Negm, the deputy Governor of the CBE, reportedly revealed that Standard Chartered will open its Read more
Egypt and South Korea have signed a memorandum of understanding (MoU) for cooperation between the two countries in the fields of antiquities and museums online on the sideline of the visit of the leader of the Asian country, Arab Finance Read more
Egyptian President Abdelfattah al-Sisi has ordered raising the minimum wage by 12.5% to EGP 2,700 (around $171) instead of EGP 2,400, Arab Finance reports. The Egyptian leader also reportedly has allocated EGP 8 billion from next year’s budget to raise Read more