The World Bank is seeking to finance development projects in areas in Iraq that the government has recaptured from Islamic State militants, its regional vice president said.
Tags: Egypt
Egypt Greenlights UN Aid Through Israel’s Crossing to Gaza; Rafah Conflict Raises Doubts
Egypt has agreed to send UN humanitarian aid trucks through Israel's main crossing into Gaza, but entry remains uncertain due to ongoing fierce fighting in Rafah, as efforts continue to revive cease-fire negotiations and recover hostages.
Africa's largest trading block to get more funds
Africa's largest trading block is attracting attention of global investors and businessmen. The recent 'Africa 2016' investment forum held in Egypt had participation of over 1,500 businessmen and government representatives. Foreign investors have called for more reforms and policy changes among African nations.
The African Economic Summit Ends With Calls to Boost Economy With Investment
This year’s African economic summit was ended with calls to boost trade and investment on the continent. The conference aims to strengthen Africa’s place in the world economy through investment and to establish Egypt as a gateway for foreign investments.
Italian oil explorer Eni discovers 'supergiant' gas field off Egyptian coast
It appears that a supergiant gas field was recently discovered in an Egyptian coast by an Italian oil group called 'Eni'. According to a recent report by Telegraph, "a supergiant gas field holding the equivalent of 5.5 billion barrels of oil has been discovered off the coast of Egypt, the largest ever find in the Mediterranean."
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Egypt wants to attract foreign direct investments worth $60 billion and to get an average growth rate of 7 percent over the next four years, the country's planning minister said.
Egypt's cabinet approved a long-awaited draft law on investment on Wednesday aimed at making deals less vulnerable to legal disputes or changes in government, and reducing stifling bureaucracy.
More lives have been claimed by the international terrorist, the Islamic State. An affiliate insurgent group claims to be responsible for the coordinated attacks on the North-East Sinai's capital.
Commercial flights from Libya to mainland Europe resumed after more than six months on Saturday with a Libyan carrier taking off to Germany, the airline said.
Mashreq, Dubai's third-biggest lender by assets, is interested in acquiring Citigroup's Egyptian retail business, Mashreq's chief executive said on Sunday.
Citigroup has received 10 bids for its consumer banking business in Egypt, three sources with knowledge of the matter said on Tuesday, with banks from the United Arab Emirates prominent among potential purchasers.
Billboards, which trace their roots to ancient Egypt, are set to generate a boom in U.S. deal activity as the biggest operators seek to expand in regional markets, investment banking sources said.
Kellogg Co K.N., the world's largest breakfast cereal maker, once again raised its bid for Egyptian snackmaker Bisco Misr (BISM.CA) on Wednesday, topping a rival offer from the UAE's Abraaj in an intensifying $144 million takeover battle.
Kellogg Co raised its bid on Sunday for Egyptian cake and biscuit maker Bisco Misr, intensifying a bidding war with the UAE's Abraaj Investment Management that has pushed up the offer price by more than 12 percent.
