The Saudi Egyptian Investment Co (SEIC), owned by Saudi Arabia's state-owned Public Investment Fund (PIF), plans to increase its investments in Egypt by buying more shares in publicly-traded Egyptian companies.
SEIC plans to buy shares in Egypt (...)
Egypt has signed agreements to carry out projects worth around $15 billion at the recent UN climate summit COP27 that took place in Sharm El-Sheikh, said Environment Minister Yasmine Fouad on Monday.
Speaking to DMC TV channel, Fouad further said (...)
Remittances from Egyptians working abroad recorded around $20.9 billion throughout the January to August 2022, from $21.4 billion in the same period last year, the central bank said on Thursday.
In August 2022, remittances stood around $2.2 billion (...)
Egypt's state grains buyer, the General Authority for Supply Commodities (GASC) has reportedly bought 300,000 tons of Russian wheat through private talks, traders told Reuters on Wednesday.
On Monday, Egyptian Minister of Supply and Internal Trade (...)
Members of the Arab Coordination Group (AGC) announced on Wednesday its pledge to provide at least $24 billion in financing by 2030 to address the global climate crisis.
This commitment, made at the COP27 climate summit in Egypt, came as part of a (...)
During the UN climate summit COP27 taking place in Sharm El-Sheikh, the World Bank launched on Tuesday the Country Climate and Development Report (CCDR) for Egypt.
The report provides recommendations on how the North African country can attain its (...)
Qatar's sovereign wealth fund, Qatar Investment Authority (QIA) has deposited on Wednesday $1 billion with Egypt's central bank.
The Arab gulf country moves closer to a deal to take over government holdings in some of major firms in Egypt.
The $445 (...)
At COP27 in Egypt, talks wrangle over whether wealthy polluters should help vulnerable countries pay for costly extreme weather events fueled by climate change, a handful of small, European governments has stepped up to offer "loss and damage" (...)
World Bank president David Malpass is set to unveil on Tuesday a fund aimed at helping developing countries to cope with climate change.
It's "a big trust fund" called SCALE, Malpass told Bloomberg TV in an interview on the sidelines of the UN (...)
Philip Morris Holland Holdings, an affiliate of Philip Morris International Inc. (PMI), a New York-based tobacco company, announced on Monday completion of the offer to the shareholders of Swedish Match AB. This follows its decision to waive the (...)
UAE's President Sheikh Mohammed bin Zayed al-Nahyan said on Monday at COP27 summit in Egypt that his country will remain a supplier of oil and gas for "as long as the world is in need."
"The UAE is considered a responsible supplier of energy and it (...)
Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) reported on Sunday a 104.8 percent year-on-year growth in net profit for the first nine months of the year, continuing its robust performance in the Egyptian market.
Net profit recorded 1.3 billion Egyptian (...)
Egypt's main stock index EGX 30 fell 1.6 percent, snapping a seven-day long winning streak as investors locked in profits.
Most of the stocks on the index were in negative territory, including the Commercial International Bank (CIB Egypt), whose (...)
Russia will resume its participation in the Black Sea grain deal, its defence ministry said in a statement on Wednesday.
"The Russian Federation considers that the guarantees received at the moment appear sufficient, and resumes the implementation (...)
Saudi ACWA Power Company has signed a preliminary agreement to build a 10-gigawatt (GW) wind energy project in Egypt, the Saudi Energy Ministry announced in a statement on Tuesday.
The Memorandum of Understanding has been signed with Egypt's New and (...)
NERO Electronics is taking part in Egypt Energy 2022 at the Egypt International Exhibition Centre (EIEC) from October 30 to November 1.
At booth H4.H41, the company said in a statement that it will showcase its all-around solution for smart metering (...)
The National Bank of Egypt (NBE) has raised 12 billion Egyptian pounds ($518.4 million) from its high-yielding certificates of deposit, launched when the central bank announced a flexible exchange rate, deputy chairman said on Sunday.
Yehia Aboul (...)
Egypt's pound currency dropped by around 4 percent to EGP 24 against the U.S. dollar as trading resumed on Sunday, after the central bank announced last week adopting a flexible exchange rate.
The pound fell 14.5 percent to 23 against the dollar on (...)
Egypt will host the eighth annual meeting of the board of governors of the Asian Infrastructure Investment Bank (AIIB) in Sharm El-Sheikh on 25-26 September 2023, Finance Minister Mohamed Maait announced on Sunday.
Maait, who is also Egypt's (...)
The International Monetary Fund (IMF) announced on Thursday it had reached with authorities in Egypt a staff-level agreement on comprehensive economic policies and reforms to be supported by a 46-month $3 billion Extended Fund Facility (EFF) (...)
UK Prime Minister Rishi Sunak and King Charles III will not be attending the climate conference COP27, which will be taking place in the Red Sea resort of Sharm El-Sheikh from November 6-18.
Sunak has pulled out of attending the November summit in (...)
Innovative payment platform Arab Financial Services (AFS) on Wednesday announced the launch of its acquiring payment services in Egypt. The launch will help businesses in Egypt tap into AFS payments services, offering faster, more cost-effective, (...)
Egyptian property developer SODIC has received an approval from Orascom Development Egypt to go ahead with the due diligence process for a potential acquisition of Orascom Real Estate's (ORE) entire share capital.
"ODE Board has granted SODIC (...)
As the UN climate summit (COP27) is taking place in Sharm El-Sheikh in Egypt in less than two weeks, authorities are intensifying efforts to go greener by cleaning up plastic waste around the Red Sea.
On Saturday, Egyptian Minister of Environment (...)
Amazon on Monday announced the opening of its largest customer service centre in the Middle East region. Located in New Cairo, the centre is designed to serve Amazon's customers across Egypt, UAE, Saudi Arabia, Germany, and Australia, Amazon added (...)
