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02 Apr 2017

Egypt receives 2nd AFDB tranche, worth $500m

Minister of Investment and International Cooperation Sahar Nasr announced on Saturday that Egypt received the second tranche of the African Development Bank’s (AFDB) loan—$500m of a total 3-year loan programme worth $1.5bn.

According to the ministry’s press release, Nasr"...

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02 Apr 2017

EGBank lends UEEPC EGP 2bn to finance maintenance

The Upper Egypt Electricity Production Company (UEEPC) has signed a contract loan with the Egyptian Gulf Bank (EGBank) over EGP 2bn to finance a maintenance programme and update the stations affiliated to the company.

Ibrahim El Shahat, chairperson of the UEEPC, said that the loan will be"...

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02 Apr 2017

Misr Italia Properties launches Cairo Business Park hotel

Misr Italia Properties signed a cooperation agreement on Friday with Hilton Worldwide to launch Hilton Garden Inn located at Cairo Business Park in New Cairo.

Hilton Garden Inn will provide customers and visitors with a new concept of independent administrative offices within an integrated"...

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02 Apr 2017

EBRD loans Egyptian Gulf Bank $20 million to boost Egypt SMEs

The European Bank for Reconstruction and Development (EBRD) has provided the Egyptian Gulf Bank a $20 million loan, an official in the EGBank announced Saturday.

The loan is to support the small and medium-sized"...

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02 Apr 2017

Hyde Park launches new projects at Cityscape Egypt Exhibition

Egypt's Hyde Park Properties for Development Company (HPD) has launched during Cityscape Egypt Exhibition its new projects in North Coast and New Cairo with investment cost totalling 15 billion Egyptian pounds ($831.1 million).

The"...

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02 Apr 2017

Egypt property developer Misr Italia seeks to raise 1.5 bln pounds in IPO

Egyptian real estate developer Misr Italia Group hopes to raise about 1.5 billion Egyptian pounds ($82.5 million) from a share sale on the country’s stock exchange that is expected to take place by May.

The"...

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02 Apr 2017

Egypt's government puts urgent plan to control soaring prices

Egypt’s government has devised an urgent and comprehensive plan to confront rising commodity prices and control the market, Finance Minister Amr al-Garhy said Friday.

The Egyptian minister told Al-Masry Al-Youm"...

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01 Apr 2017

UAE moves closer to Israel, Greece and Cyprus, bolstering Egypt’s regional role

Combat pilots from United Arab Emirates (UAE) are making history by flying alongside their Israeli counterparts in a joint air force exercise hosted by Greece.

While the UAE and Israel have no formal diplomatic ties, the event is a stunning confirmation the often rumored developing"...

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01 Apr 2017

Despite talk of good relations, security concerns darken Egypt-Sudan ties

In an interview with Al Arabiya TV in early February, Sudanese President Omar al-Bashir accused the Egyptian regime of supporting Sudanese rebels and opposition movements. Tensions are already high between Cairo and Khartoum, and security concerns prevail over bilateral ties despite Bashir and Egyptian President Abdel Fattah al-Sisi's talk of friendship, economic integration and common interests during their last meeting in Egypt in October 2016. During the interview, Bashir stressed that although Sudanese-Egyptian relations are good,......

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01 Apr 2017

Egypt receives $500 million loan tranche from African Development Bank

Egypt has received the second $500 million tranche of a $1.5 billion African Development Bank (AfDB) loan, Investment and International Cooperation Minister Sahar Nasr said on Friday.

The money will go towards a"...

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