CAIRO – Egyptian and Chinese civilisations share common characteristics in terms of their distinctive imprints on humanity, said Ayman Abdel Wahab, vice-chairman of state-run Ahram Center for Political and Strategic Studies in a recent interview with Xinhua. Abdel Wahab, who is also editor-in-chief of “Ahwal Masryah” magazine, has prepared a research under the title of … Read more
CAIRO, Jan. 18 (Xinhua) — Egypt and the United Nations Industrial Development Organization (UNIDO) on Tuesday signed an agreement to develop eco-friendly industrial zones, the Egyptian Ministry of Trade and Industry said in a statement. “The agreement will support the Egyptian government to improve the economic, social and environmental performance of industrial zones, as well … Read more
CAIRO – On a table in downtown Cairo, Fady Francis, 30, aligns miniature sculptures of 100 influential world figures, standing side by side in harmony, although the figures were from different cultures, spoke different languages and lived in different eras in history. These statues and busts are carved by Francis as part of his 100-figure … Read more
CAIRO: Egypt’s Suez Canal Authority said the key waterway netted record revenues last year, despite the coronavirus pandemic and a six-day blockage by giant cargo ship the Ever Given. Connecting the Red Sea and the Mediterranean, the canal accounts for roughly 10 per cent of global maritime trade and is a source of much-needed foreign … Read more
Premier League trio Mohamed Salah, Sadio Mane and Riyad Mahrez will be star attractions in Cameroon at the Africa Cup of Nations, which promises to be “exceptional” according to the top football official in the continent. The 36-match group phase kicks off on January 9 at the newly built Olembe Stadium in Yaounde and the tournament concludes … Read more
CAIRO: Egypt expects an 11 per cent hike in the revenues from Suez Canal during the first half of 2022, Arab News quoted Lt Gen Osama Rabie, as saying, in a TV interview. The chairman and the managing director of the Suez Canal Authority said he expects a commercial boom in the coming period with demand for … Read more
RIYADH: Saudi Arabia was among the top countries in the Middle East and North Africa for new venture capital deals in the third quarter of 2021 with startups raising SR769 million ($205 million) from 91 deals, Arab News reported. It is a 439 per cent hike as compared with the figures of a year ago during which … Read more
RIYADH: Saudi-based United Electronics Co, known as extra, to inject one billion Egyptian pounds ($64 million) as an initial investment for a fully owned subsidiary in Egypt, marking its first expansion outside the Gulf Cooperation Council, Arab News quoted the company, as saying, in a bourse filing. The expansion in Egypt will be financed entirely from the … Read more
RIYADH: Egypt has ordered a state-owned company to work with a Chinese firm to build affordable electric vehicles priced at 315,000 Egyptian pounds ($20,000), Arab News reported. The Egyptian authorities have approached three potential companies to partner with the state-owned automobile company El Nasr Automotive Manufacturing on the project. It aims at investing 2 billion Egyptian pounds, Bloomberg reported, … Read more
CAIRO, Dec 18, 2021 (AFP) – Egypt on Saturday said it had detected its first three cases of the coronavirus Omicron variant, at the height of the economically vital tourist season. Three Egyptians tested positive on their return from overseas, the health ministry said without specifying where they had travelled from. One of them had mild symptoms and … Read more
RIYADH: Low-cost airline flyadeal will begin flights from Saudi Arabia to Egypt from January 6, 2022, Arab News reported. The company, a subsidiary of Saudia, will operate the Cairo-Riyadh route twice a day, with flights in both directions as a first stage. Egypt is the third international destination for flyadeal, following Dubai and Kuwait, bringing the … Read more
CAIRO: Egypt will have its first green hydrogen production plant up and running next November, Arab News quoted Ayman Soliman, CEO of Egypt’s Sovereign Fund, as saying. This comes in accordance with the agreement signed last October with the Norwegian Scatec alliance, Fertiglobe, and the Emirati Abu Dhabi National Oil Company, where quantities of 50 to 100 … Read more
CAIRO: Egypt’s largest steel producer Al Ezz Dekheila purchased 18 per cent of Egyptian Steel Company’s total equity in a deal worth 2.5 billion Egyptian pounds ($160 million), Arab News reported. The purchase has been made from the founding partner Ahmed Abou Hashima and his company Egyptian Steel, according to an EGX filing. The fair value of … Read more
CAIRO: Egypt announced it is ready to officially join the JPMorgan Government Bond Index-Emerging Markets (GBI-EM) for emerging markets by the end of January next year, CNBC Arabia reported citing the finance minister. Upon joining, Egypt will become one of only two countries in the Middle East North Africa region to make the index. Mohamed Maait said … Read more
RIYADH: Egyptian Buy Now, Pay Later platform Sympl has raised $6 million in seed funding just five months after it was founded and two months after a soft launch, Arab News reported. The funding round was led by Beco Capital along with A15, and Global Ventures, three of the region’s most established venture capital firms, Sympl said … Read more
DAMASCUS: Syria will host an Arab energy conference in 2024, the country’s energy ministry said, the latest sign that Arab countries are moving to re-engage with the government of Syria’s embattled President Bashar Assad, Arab News reported. The announcement followed a unanimous vote from members of the Organization of Arab Petroleum Exporting Countries during a virtual meeting … Read more
CAIRO: An Egyptian court Tuesday ordered the release of researcher Patrick Zaki who was detained in February last year when he arrived in Cairo from Italy, his family told AFP. “I’m jumping for joy!” his mother Hala Sobhi said. “We’re now on our way to the police station in Mansoura,” a city in Egypt’s Delta, … Read more
CAIRO: Egypt is poised to sign a deal that will see the production of electric vehicles in the country, Arab News quoted Minister of the Public Business Sector Hisham Tawfik, as saying. Three companies are currently competing for the right to produce the cars, but the names of these firms were not disclosed by the minister. Tawfik … Read more
CAIRO: The Central Bank of Egypt will issue 9.5 billion Egyptian pounds ($604.3 million) in treasury bonds to finance the country’s budget deficit, Arab News reported. The T-bonds will be issued in coordination with the Finance Ministry. In a statement posted on its website, the central bank said the value of the first offering is 8 billion … Read more
RIYADH: Gulf Capital, a financial institution based in the UAE, has added Dubai and Abu Dhabi to the list of possible markets for the initial public offerings of one of its assets in 2022, CEO Karim El-Solh told Al-Bayan paper. The return of IPOs in Dubai and Abu Dhabi financial markets have encouraged the company to consider … Read more
JEDDAH: Three global alliances have applied to submit green hydrogen projects in Egyptian regions of Sukhna and East-Port Said, Arab News quoted a statement by the Egyptian cabinet. The head of the Suez Canal Authority, Yahya Zaki, pointed out the possibility of implementing the three projects in parallel. Zaki’s statements came during a meeting held … Read more
CAIRO: The European Union (EU) aims at strengthening cooperation with Egypt in the field of energy, Arab News quoted Kadri Simson, commissioner for energy affairs of the EU, as saying, during a meeting with Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla. El Molla and the EU official discussed ways to increase coordination … Read more
RIYADH: Egypt aims at making 30 per cent of all the government projects green by 2024 and then raise the level to 100 per cent by 2030, Arab News quoted country’s Environment Minister Yasmine Fouad, as saying. Speaking at the Middle East Green Initiative Summit in Riyadh, she said Egypt spent 447 billion Egyptian pounds on 691 … Read more
ATHENS: Greece, Cyprus and Egypt have signed an electricity agreement that could include Egyptian solar power and potentially supply power to other European countries, Arab News reported. The protocol was signed during a meeting between Greek Prime Minister Kyriakos Mitsotakis and the presidents of Egypt, Abdel Fattah El-Sisi, and Cyprus, Nicos Anastasiades, in Athens. The deal concerns … Read more
RIYADH: Saudi Arabia and Egypt have signed an agreement to increase cooperation in the areas of housing and urban development. The Ministry of Municipal and Rural Affairs and Housing and its Egyptian counterpart signed an agreement to develop an executive programme, SPA reported. The agreement sets out a detailed programme for exchanging expertise between the … Read more
Inflation is slowing down across MENA countries and should decelerate next year, Arab News quoted a report by Capital Economics. The economic research company reached this conclusion after the PMI surveys for September revealed a fall in the output prices components in the region. The Capital Economics noted the recent increase in inflation in the region … Read more
The Egyptian Meteorological Authority (EMA) forecast that hot, humid weather will prevail during the country from Friday till Sunday. According to meteorologists, temperatures in Cairo and the Delta will soar in the low 30s throughout the day with humidity fluctuating between 40 and 50 percent. The weather will be warmer in Upper Egypt and South … Read more
Israel’s Naftali Bennett met Egyptian President Abdel Fattah al-Sisi on Monday, on the first visit to the North African country by a prime minister of the Jewish state in over a decade. Sisi was hosting Bennett in the Red Sea resort of Sharm el-Sheikh to discuss “efforts to revive the peace process” between the Israelis … Read more
