UAE pledges to invest $4.2 bn in Greece

The UAE Monday announced a $4.2 billion Investment Initiative to facilitate investments in the Greek economy across a wide range of sectors, reports say. This came as part of several other agreements signed between the two countries as Prime Minister Read more

EBRD to lend Egypt’s largest private bank $20m to back female-led companies

The European Bank for Reconstruction and Development (EBRD) is expected to provide a senior unsecured debt facility of $20 million to the Commercial International Bank Egypt (CIB) (COMI) to support private small- and medium-sized enterprises (SMEs) led by women, Arab Read more

Riyadh Chamber, China Foreign Trade Center sign cooperation deal

Riyadh Chamber and China Foreign Trade Center also known as Canton Fair, have inked today a cooperation deal to enhance and expand commercial, industrial and investment relations through encouraging cooperation among businesspeople and facilitating the realization of mutual interests, Zawya Read more

IFC invests $5 million in Egypt-based Fintech venture capital

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

Qatar’s QEWC acquires 24 per cent in Bangladesh power company

Public utility Qatar Electricity and Water Company (QEWC) has acquired a 24 percent equity stake in Unique Meghnaghat Power Ltd. in Bangladesh through its subsidiary, Nebras Power Investment Management B.V., Zawya reports. QEWC did not disclose the value of the Read more

6th EU-AU summit: Africa demands better status for partnership

The European Union (EU) and the African Union (AU) are holding this week (Feb. 17, 18) their sixth joint summit to reaffirm partnership between the two regions but the European ambition is expected to meet distrust from the African side, Read more