Tag: Egypt
Egypt’s net foreign reserves rise slightly to $33.4 billion in October
Egypt’s net foreign reserves increased slightly for the second month in a row last month as the North African country awaits the increase in...
Saudi-based ICIEC and Egypt’s CIB to host bankability of climate adaptation projects panel at...
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...
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...
Egyptian mass e-commerce platform Kenzz raises $3.5 million seed funding
Egyptian mass e-commerce platform Kenzz said Tuesday that it raised $3.5 million in a seed funding round led by Outliers Venture Capital as the...
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...