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    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

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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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    Azerbaijan, Iraq discuss prospects of relations

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    Oman inks pack to bolster role of SMEs in food systems

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      Egypt’s Trade minister, Hungarian ambassador discuss economic relations

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      Turkey eyes $5bn bilateral trade with Qatar

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

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      Foundation stone laid for new 700-bed hospital is Salalah, Oman

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      Iraq set to award new Faw Port deals

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      Miral’s premier Abu Dhabi waterfront project work on track

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        Investments in renewables in Egypt reach LE6 bn: Official

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

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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

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

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          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

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

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

          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

          Oman inks pack to bolster role of SMEs in food systems

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            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

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

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

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

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            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            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

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            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

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

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

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

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

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                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

                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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              Egypt eyes sovereign fund by year end to shake up assets

              The Daily Star

              June 8, 2018
              in Economy, Finance
              0

              Egypt plans to launch its first sovereign fund by the end of the year and will begin a roadshow in the first half of 2019 to drum up private investment, the planning minister said. Modeled after sovereign funds in India and Malaysia, Egypt’s new investment arm will seek to generate additional wealth from under-utilized state assets rather than investing surplus oil and gas revenues as Gulf countries do. Partnering with the private sector, the fund will seek to attract domestic and foreign investment and build on economic reforms started in 2016 with the flotation of the currency.

              “Egypt has a wealth of assets and companies that have not been properly used and mismanaged over many years, and we are ready to start a real partnership with the private sector to render them productive and more advanced,” Planning Minister Hala al-Saeed said in an interview in Cairo.

              The fund is the latest government measure aimed at reviving growth and investment that faltered in the wake of the 2011 uprising that ousted President Hosni Mubarak. The floating of the pound in 2016 and other measures such as reductions in fuel subsidies allowed Egypt to secure a $12 billion International Monetary Fund loan that has helped to restore some market confidence. Egypt also plans to raise 100 billion pounds ($5.7 billion) by selling minority stakes in at least 20 state-owned enterprises on the stock market.

              The Egypt Fund will have an authorized capital of 200 billion Egyptian pounds ($11.2 billion) and will start with paid-in capital of 5 billion pounds, 20 percent of which will be injected by the government when it is set up.

              The Egypt Fund will partner with the private sector to invest in a wide range of assets, including land and buildings, as well as stakes in state-owned companies at market value, the minister said. While the government will wholly own the Egypt Fund, the private sector will be allowed to buy stakes of over 50 percent in sub-funds and affiliated companies. The fund will also be able to invest in various financial instruments, stocks, bonds and other securities inside and outside Egypt.

              The vehicle will invest domestically in priority sectors such as tourism, manufacturing, petrochemicals, pharmaceuticals, and agribusiness that offer the potential for quicker returns, but could later explore international opportunities, Saeed said.

              The fund has its own legislative framework which “gives the flexibility and will make the fund and its affiliated entities free from bureaucratic regulations that impede investors in Egypt,” she added.

              The fund will be managed independently and several sovereign wealth funds and major financial institutions have expressed an interest in either injecting capital or providing technical expertise, the minister said. The Abu Dhabi Investment Authority and the Oman Investment Fund helped in drafting the law.

              “The fund will work with investors in an environment that will be equal to any opportunity abroad,” Saeed said.

              The Daily Star
              08/06/2018

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