FINANCE & ECONOMY

14 Dec 2017

Egypt towards North Africa's first nuclear power plant

Egypt has made progress towards the construction of a nuclear power plant in Dabaa, the first in Africa after the two South African reactors.

During Russian President Vladimir Putin's visit to Cairo, contracts were signed to make progress on the project, which was launched"...

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14 Dec 2017

Netflix injects $8bn production investments in Egypt

Online streaming service Netflix will participate in the production of Egyptian films, TV dramas and stand-up comedy specials, increasing its investments in the Egyptian market to US$8 billion in 2018, compared to $6 billion in 2017, the US entertainment company said on Tuesday.

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14 Dec 2017

WorldRemit raises $40m to expand globally, in Egypt

WorldRemit, a leading digital money transfer service, has raised $40 million to execute its next phase of global growth, including an expansion in Egypt.

WorldRemit operates a growing share of the $600 billion"...

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14 Dec 2017

Egypt purchased Russian and Romanian wheat in a tender

On December 12 Egypt purchased 295 KMT of milling wheat from Russia and Romania with shipment during 21-31 January, 2018 at an average price of USD 208.37/MT C&F. The price in the previous tender equaled USD 207.44//MT C&F, reports UkrAgroConsult.

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14 Dec 2017

$1.8 bln trade exchange volume between Egypt, Argentina in 2016: minister

The volume of trade exchange between Egypt and Argentina registered around $1.792 billion during 2016, said Egypt’s Industry and Trade Minister Tarek Qabil on Wednesday. The $1.792 billion included Egyptian exports of $8 million.

“The"...

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14 Dec 2017

Al Ahli Bank of Kuwait-Egypt seeks to directly finance SMEs in 2018

Kuwait-based Al Ahli Bank of Kuwait-Egypt (AKB) aims to directly finance small and medium enterprises during 2018, according to insightful sources.

The sources told Amwal Al Ghad that the SMEs funding is one of"...

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14 Dec 2017

Zohr gas field to help Egypt achieve LNG self-sufficiency before end of 2018: Minister

Egypt's Minister of Petroleum Tarek El-Molla said in a cabinet meeting on Wednesday that extraction in the Zohr gas field, which is set to start in days, will see the country achieve self-sufficiency in the supply of liquefied natural gas (LNG) before the end of 2018.

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14 Dec 2017

8,625 acres of agricultural land illegally reclaimed in Egypt

According to a report issued by the Ministry of Agriculture and Land Reclamation, the total illegal agricultural land reclaimed was 8,625 acres in all governorates from 25 January 2011 until 3 December 2017, with the number of illegal agricultural land reclamation cases registered at 189,753.

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14 Dec 2017

We aim to lower product costs through innovation: Uber Middle East and Africa general manager

Uber celebrated four years in Africa in 2017, surviving violent protests, policy disputes, and price wars since the company first launched in the continent in 2013.

Along the way, Uber has created tens of thousands"...

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14 Dec 2017

GTI 2017 excludes Egypt from top 10 countries affected by terrorism

The Global Terrorism Index (GTI) 2017, issued in late November, excluded Egypt from its list of the ten countries most affected by terrorism. Nine of the countries featured on last year’s list with the only change being the inclusion of Turkey and the exclusion of Egypt.

The"...

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