Tag: Egypt
Egypt wealth fund seeks Gulf partners to lure investments
(Bloomberg) --Egypt’s sovereign wealth fund is looking to more oil-rich Gulf countries to drum up foreign investment, as the Arab world’s most populous nation...
Egypt, UAE to set up $20 billion joint investment platform
(Bloomberg) --Egypt and the United Arab Emirates are setting up a $20 billion joint strategic platform to invest in a range of sectors and...
Majid Al Futtaim Group H1 2019 revenue increases by 1%
Majid Al Futtaim, the Dubai-based retail and leisure pioneer, recently released a statement saying it has recorded $4.9bn (AED17.9bn) in revenues during the first...
UAE’s Lulu Group pumps in $500mn into Egypt’s retail sector
Lulu Group is investing $500mn in Egypt as part of its latest expansion plans into the North African country. The agreements were signed between...
Egyptians Are in Deeper Fiscal Hole as Economic Program Wraps Up
(Bloomberg) -- New figures spotlight the pain Egyptians are feeling as the government wraps up a three-year program credited with pulling the economy from the throes of...
British Airways Halts All Cairo Flights for Seven Days
(Bloomberg) -- British Airways suspended all flights to Cairo for seven days to “allow for further assessment,” a day after the U.K. government raised its...
Egypt Bus-App Swvl Raises $42 Million
(Bloomberg) -- Swvl, an Egyptian app for booking buses, has raised $42 million as it looks to expand into other parts of Africa, including...
Accor Plans 60 New Hotels in Africa, Half of Them in Egypt
Accor SA will open 60 new hotels in 14 countries in Africa in the next four years, its Chief Executive Officer for Middle East...
Egyptian Bank EFG-Hermes Weighs South East Asian Acquisition
EFG-Hermes Holding SAE is considering an expansion into South East Asia as Egypt’s biggest investment bank seeks to grow in emerging markets.
The Cairo-headquartered company,...
