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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

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            Local, Italian companies partner up to establish food retail chain in Egypt

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            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

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            Miral’s premier Abu Dhabi waterfront project work on track

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            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

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                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

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                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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                UAE sends medical aid to Iraq to fight COVID-19

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                UAE launches phase III trial of inactivated Covid vaccine

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                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              BP to invest $13 billion in Egypt before 2020

              Ahram Online

              November 16, 2016
              in Finance, Oil & Gas
              0

              British oil company BP Global has plans to invest some $13 billion in Egypt before 2020, the UK embassy in Cairo said in a statement.

              According to the embassy, Britain has been providing investment flows worth $30.5 billion since 2011, with three major British companies – Vodafone, Unilever and GlaxoSmithKline – investing EGP 3.785 billion in Egypt last month.

              The embassy has also revealed “some details, given for the first time” at the International Monetary Fund (IMF) board meeting, which included the UK executive director on the board, to decide on the Egyptian financial request on 11 November.

              “The UK played a vital role in the IMF decision as a founder and important contributor to the fund,” the statement read, adding that Egypt’s reform program will “revive Egypt’s growth prospects by restoring stability and confidence in the economy, attracting investment and creating jobs.”

              According to the statement, the UK welcomes clauses related to a commitment of an additional 1 percent of GDP towards protecting the poorest citizens from rising inflation, new measures that will increase female labor force participation, and a plan to clear outstanding arrears to international oil companies.

              Egypt embarked on an economic reform program in July 2014 aimed at trimming the budget deficit and increasing the country's economic growth rate through introducing new taxes such as the value-added tax and cutting energy subsidies.

              Egypt's debts to international oil and gas companies rose to $3.58 billion by the end of September, rising from $3.2 billion six months ago, a statement by the oil ministry said in October.

              The ministry said that it has paid during 2015/16 a total of $5.4 billion, with $100 million as accumulative arrears owed to the foreign companies.

              On Friday, the IMF board approved a $12 billion loan to Egypt over three years to help the country recover from its deep economic crisis and the dollar shortage suffered since the 2011.

              The governor of the Central Bank of Egypt Tarek Amer told Ahram Online that the bank received an initial batch of $2.75 billion immediately following the board’s approval.

              “We congratulate the government on setting out such a clear vision for economic reform and taking the first steps on this difficult but necessary road. The UK experience is that while challenging for citizens, seeing these reforms through to completion will lead to a more solid economy in the future,” the statement quoted the UK’s executive director, during the IMF meeting, as saying.
              Ahram Online
              16 November

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