Egypt targets Latin America, Asia tourism markets

Egypt is planning to go after the Latin America and Asia tourism markets, the Arab republic’s Deputy Tourism Minister has told Bloomberg in an interview, Arab Finance reports. Ghada Shalaby told US media that the plan comes as an attempt Read more

Egypt’s EFG Hermes appoints Goldman Sachs as financial advisor on FAB’s offer to acquire majority stakes

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

IHC Food Holding acquires controlling stakes in Abu Dhabi Vegetable Oil Company

IHC Food Holding, a subsidiary of International Holding Company (IHC), has acquired 75 per cent of Abu Dhabi Vegetable Oil Company (ADVOC), IHC has announced, Zawya reports. The conglomerate did not provide details on the operation but indicated that the Read more

Egypt, Pakistan eager to deepen cooperation in many areas including defense

Egypt and Pakistan Sunday contemplated plans to strengthen bilateral relations including defense between the two countries, nearly one month holding joint military drill. President Abdelfattah al-Sisi and Pakistani Joint Chiefs of Staff Committee Chairman Gen. Nadeem Raza discussed “strengthening bilateral Read more