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Saudi-based ICIEC and Egypt’s CIB to host bankability of climate adaptation projects panel at COP27

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) said Wednesday that it has joined forces with Egypt’s Commercial International Bank...

UAE’s Mashreq inks sponsorship deal with Egypt’s COP presidency ahead of COP27

UAE’s Mashreq said Tuesday that it signed an MoU with Egypt’s COP Presidency to formalize its participation at this year’s United Nations Climate Change...

Saudi National Bank set to acquire 9.9% stake in Credit Suisse for $1.5 billion

Saudi National Bank (SNB), the Gulf state’s largest lender, said it is participating in Credit Suisse Group’s capital raising and committed to investing as...

Egypt devalues pound again, clinches $3 billion IMF deal

Egypt’s pound plunged to a record low against the dollar on Thursday after the central bank unveiled plans to move to a more flexible...

Abu Dhabi-owned SODIC seeks to acquire Orascom Real Estate for $125 million

Egyptian property giant Sixth of October for Development and Investment Company (SODIC) has submitted a non-binding offer to fully acquire Orascom Real Estate for...

Central Bank of Egypt plans to develop new currency indicator

Egypt’s central bank governor said Sunday that the country plans to develop a new currency indicator and add instruments to hedge against risks as...

Qatar set to invest $2.5 billion in Egyptian companies, says report

Qatar is reportedly in advanced talks to acquire as much as $2.5 billion of state-held stakes in Vodafone Egypt, the country’s biggest mobile network...

Egypt nears deal with IMF after staff-level agreement

Egypt’s finance minister reportedly said that his country has finalised a staff-level agreement with the international monetary fund (IMF) on the components of its...

Egypt’s Telda raises $20 million in seed round led by Global Founders Capital

Telda, an Egyptian consumer money app, raised $20 million in a seed funding round led by Global Founders Capital (GFC) with participation from Sequoia...

Mastercard invests in Nclude to boost Egypt’s fintech ecosystem

Mastercard said Tuesday that it has invested in Nclude, an Egyptian financial technology-focused investment fund, to accelerate the growth of the country’s fintech ecosystem...

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