Tag: Saudi Arabia
Saudi wealth fund PIF reportedly plans to acquire Egypt’s United Bank for $600 million
Saudi Arabia’s Public Investment Fund (PIF) is reportedly in advanced talks to acquire Egypt’s United Bank in a deal that could value the state-owned...
Saudi wealth fund PIF, BlackRock to jointly explore MENA infrastructure investments
Saudi Arabia’s Public Investment Fund (PIF) signed a non-binding MoU with BlackRock on Monday to jointly explore infrastructure projects in the Middle East, with...
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...
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...
Anchorage Investments shortlists 4 international contractors for $2 billion petrochemicals project
Egypt’s Anchorage Investments, which develops and operates industrial projects in the petrochemicals sectors, said Tuesday that it has shortlisted four international contractors in the...
Saudi wealth fund-backed Egyptian investment firm invests $1.3 billion in four firms
Egypt’s planning ministry said Wednesday that the Saudi Egyptian Investment Company (SEIC), which is owned by the Public Investment Fund (PIF), has acquired minority...
Saudi wealth fund PIF launches company for Egypt investments
Saudi Arabia’s Public Investment Fund (PIF) has launched a company that will invest in promising sectors throughout Egypt including financial services, infrastructure as well...
Furniture marketplace startup Homzmart raises $23 million to support regional expansion
Egyptian furniture and e-commerce marketplace Homzmart said Monday that it raised $23 million in a Pre-Series B funding round to support the startup’s regional...
Egypt signs 14 investment deals worth $7.7B with Saudi Arabia
Egypt and Saudi Arabia have signed 14 investment deals worth $7.7 billion (EGP 145 billion) state-run Middle East News Agency (MENA) reported Tuesday, as...