Ras El Hikma

Egypt lowers budget deficit forecast after securing $12B from Ras El Hikma deal

Tue, 30 Apr 2024 - 10:37 GMT

the government raised its projections for achieving a primary surplus to 5.75 percent of the gross domestic product (GDP) in 2023/2024 from previous estimates of 2.5 percent of the GDP, according to the ministry.

Egypt to receive $20B from Ras El Hikma funds at beginning of next May

Sat, 30 Mar 2024 - 01:03 GMT

Egypt had received $10 billion in the previous period from the funds of the $35 billion deal and took measures to convert $11 billion from deposits from the United Arab Emirates (UAE) at the Central Bank into local currency, as stipulated by the terms of the deal.

Egypt to receive 2nd installment of financial dues for Ras El Hikma project within weeks

Wed, 27 Mar 2024 - 02:59 GMT

Egypt had received $10 billion in the previous period from the funds of the $35 billion deal and took measures to convert $11 billion from deposits from the UAE at the Central Bank into local currency.

Even with Ras El Hikma deal, Egypt needs IMF's support: Capital Economics

Thu, 29 Feb 2024 - 07:10 GMT

Middle East and North Africa Economist at Capital Economics, James Swanston, noted that even before the Ras el Hekma deal, investor sentiment towards Egypt had improved in recent months on the back of hopes that a new IMF deal will soon be secured.

Egypt receives $5B in 1st installment of Ras El Hikma deal: PM

Thu, 29 Feb 2024 - 01:24 GMT

Madbouly added that measures will be taken to convert $5 billion from the United Arab Emirates (UAE) deposit to Egyptian pounds (EGP)

Annual Capital Markets Summit discusses Ras El Hikma deal

Mon, 26 Feb 2024 - 11:35 GMT

Themis came during a session entitled,”Promotional efforts to attract foreign direct investment”.

Talaat Moustafa leads gainers on EGX following Ras El Hikma project collaboration

Sun, 25 Feb 2024 - 05:42 GMT

The company stated in a filing to the EGX that the collaboration in implementing the Ras El Hikma project aligns with the group's strategy of creating continuous added value that benefits its shareholders by maximizing returns and creating additional value.

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.

Head of GAFI gives first official confirmation of Ras El Hikma development plans

Thu, 08 Feb 2024 - 10:43 GMT

Heiba’s comments are the first confirmation by an Egyptian official since media outlets began publishing reports last week on the potential sale and development of the area

Egypt unveils ambitious 2052 urban development plan for Northwestern Coastal Region

Thu, 01 Feb 2024 - 04:06 GMT

The official source highlighted the significance of the Northwestern Coastal Region, emphasizing its capacity to accommodate the expected population surge.

Yanni in Egypt before 5000 fans at Mountain View Ras El Hikma

Thu, 08 Aug 2019 - 11:44 GMT

This event was recognized as the biggest seated event in the history of Egypt; with an audience of 5000 guests witnessing the global artist perform on the beach in one of the unmatched spots of the North Coast at the Greek islands of Mountain View.