EFG Hermes' share in the bank will become 51 percent, and the share of Egypt's sovereign fund through the Egypt Financial Services and Digital Transformation Sub-Fund, which is wholly owned by it, is 25 percent, while the National Investment Bank maintains 24 percent after the increase capital.
Abdel-Atti said he is upbeat about the visit of Rurema, stressing depth of joint relations.
The contract is for a 10 year-period, and the total expected revenue for the contract period is 2.5 million dinars ($ 8.3 million).
This came during the Cabinet meeting held Wednesday under Prime Minister Mostafa Madbouli.
Under the agreement, Google will obtain international capacities for Europe through the TE North submarine cable system owned by Telecom Egypt.
The execution duration is 18 months for ITS for-highway roads in Egypt including Traffic Management System (TMS) and toll collection system (TCS) in addition to the main control rooms in the ACUD, phase one includes six highway roads with total 1079 km.
The deal was signed in July, 2020.
The agreement was signed during a video conference by Telecom Egypt Managing Director and CEO Adel Hamed and President of Ericsson in the Middle East and Africa region Fadi Pharaon.
The grant is meant to support a national strategic project for development statistics.
Under the deal, both sides will cooperate in implementing a research and development project in the domains of Natural Language Processing (NLP) and machine translation using the artificial intelligence technology.
Investments in Middle East and North African startups jumped 35 percent during the first half of the year with companies in the United Arab Emirates raising the bulk of the funding.
Egypt says that violations of the international laws and the Declaration of Principles are impermissible under Ethiopia’s ownership of the dam.
“The company’s main goal is to ensure that its shareholders gain the maximum benefit out of the opportunities currently presented.”
The grant deal was signed by USTDA’s Acting Deputy Director Todd Abrajano and Echem’s Chairman Saad Helal.
The agreement falls within the framework of the third phase of the Italian-Egyptian Debt Swap (IEDS) Program.
The deal stipulates to supply local petroleum coke (pet coke) with an annual volume tons as of July 2019.
The summit will be co-chaired by Russian President Vladimir Putin and his Egyptian counterpart Abdel Fattah El Sisi.
That is within a six-plane deal.
U.S. President Donald Trump said on Saturday progress is being made toward a trade deal with China.
The talks were extended into an unscheduled third day, showing both sides were “serious”, China’s Foreign Ministry said.