Ras El Hikma project's liquidity to cover Egypt's financing gap for next 4 years: Goldman Sachs

Fri, 23 Feb 2024 - 05:48 GMT

The report explained that the size of this investment is much larger than expected, and the timing of this liquidity entry is very close if the financing goes as planned.

Things to know about "Ras El Hikma" Deal

Fri, 23 Feb 2024 - 05:33 GMT

The government expects the project to attract investments of up to $150 billion during its development, helping to provide millions of job opportunities and inject liquidity into the Egyptian economy.

Ras El Hikma investment deal unveils 5 key factors

Fri, 23 Feb 2024 - 03:55 GMT

the project represents the largest direct investment deal in the country's history, noting that it will bring $150 billion in investments to Egypt over the project's lifetime.

Egypt, UAE ink largest investment deal for Ras El Hikma Project with $35B FDI

Fri, 23 Feb 2024 - 03:25 GMT

The deal involves $150 billion in investments during the project development period, including around $35 billion in direct investments for the Egyptian state within two months.

Egypt’s PM Madbouly meets UAE President, discuss boosting ties

Tue, 13 Feb 2024 - 07:19 GMT

Egypt’s Prime Minster Mostafa Madbouli meet on Monday with UAE President Sheikh Mohamed bin Zayed Al Nahyan as they discussed the strong fraternal ties, cooperation, and joint initiatives between their nations.

PM Madbouly sits down with UAE President to explore further co-op

Tue, 13 Feb 2024 - 06:27 GMT

Egyptian business tycoon Hisham Talaat Mostafa attended the meeting with the PM, which was held at Qasr Al Shati Palace in Abu Dhabi.

ITIDA, MGN sign agreement for 3 years to export banking services from Egypt

Tue, 13 Feb 2024 - 01:42 GMT

MGN will expand its presence in Egypt and offer a wide range of services, including data analysis, business intelligence, credit management, and various financial and banking solutions

UAE vice president asserts keenness on boosting cooperation with Egypt

Mon, 12 Feb 2024 - 01:08 GMT

UAE Vice President and Prime Minister Mohammed bin Rashid Al Maktoum conveyed the appreciation of UAE President Mohammed bin Zayed Al Nahyan for President Abdel Fattah El Sisi.

UAE, Egypt sign protocol to enhance investment cooperation

Sun, 11 Feb 2024 - 05:14 GMT

Egypt's Minister of Finance, Mohamed Maait, emphasized the significance of the agreement against the backdrop of global challenges, stressing the need for coordinated Arab efforts to address the negative impacts on supply and import chains

Egypt extends condolences to UAE, Bahrain on victims in Somali military base attack

Sun, 11 Feb 2024 - 12:52 GMT

The terror attack occurred in the General Gordon military base in Mogadishu on Saturday.

Egypt to potentially issue Emirati, Indian, and Chinese currency-denominated bonds: Maait

Mon, 29 Jan 2024 - 03:04 GMT

The bonds – which would be issued in Emirati dirhams, Indian rupees, and Hong Kong dollars – are within the government’s efforts to diversify its financial strategy by entering new markets and developing various financial tools

Red Sea Port Authority, AD ports sign $3M agreement to operate 3 cruise terminals

Mon, 08 Jan 2024 - 12:16 GMT

The primary objective of this agreement is to introduce new and improved services, enhance accessibility for cruise operators, and expand the range of itineraries available

Egyptian official unveils destiny of land used to house headquarters of dissolved National Democratic Party

Sun, 07 Jan 2024 - 02:42 GMT

The land lies on the Nile Corniche in Cairo.

UAE's Mubadala eyes expansion in Egyptian petroleum sector amid promising opportunities

Thu, 07 Dec 2023 - 11:47 GMT

Al-Hamed affirmed Mubadala's commitment to continuing its expansion in projects in Egypt in the near future.

UAE renews $1B deposit with Egypt's central bank for additional 3 years

Thu, 30 Nov 2023 - 05:25 GMT

The deposit was due to mature in June 2023, but the UAE extended it for three more years until June 2026.

COP 28 adopts decision of establishing Loss and Damage Fund

Thu, 30 Nov 2023 - 03:29 GMT

The UAE pledged $100 million for the fund, as announced by Sheikh Abdullah bin Zayed Al-Nahyan, UAE minister of foreign affairs and international cooperation.

Egypt’s FM hands Presidency of UN Climate Change Conference to UAE

Thu, 30 Nov 2023 - 03:26 GMT

“We cannot achieve our common goals without having everyone on board, most importantly the Global South. We need to start delivering on climate justice and provide the needed tools as agreed in Sharm El-Sheikh to fund loss and damage. One of the most anticipated outcomes of COP28 is for the Loss and Damage Fund to be fully activated,” he added.

Egypt’s gold, jewelry exports decrease 4% in first 9M of 2023

Wed, 22 Nov 2023 - 03:15 GMT

The United Arab Emirates (UAE) ranked first as the largest importer of gold, precious stones and jewelry from Egypt with imports worth $534M

UAE, KSA reportedly planning to deposit $5B in CBE

Wed, 25 Oct 2023 - 01:55 GMT

Sources stated that there is a preliminary agreement in place, which will include the renewal of existing deposits provided by the two Gulf countries that are set to expire next year

Al Dahra to potentially acquire 500K feddans in Egypt

Thu, 19 Oct 2023 - 03:04 GMT

One of the sources indicated that the deal could encompass the acquisition of 500,000 feddans potentially executed in phases through either a purchase or a long-term lease agreement.