According to Egypt's central bank governor, the country had received USD7 billion of Gulf aid out of the USD12 billion pledges from Gulf countries.
Tags: Egypt
Still meager private equity investments in Middle East markets- report
The Middle East private equity market looked promising in the past decade but investments have trickled in the past year according to Dealogic data, Financial News reported.
Thomas Cook sells foreign exchange unit
England-based Thomas Cook's chief executive Harriet Green announced the sale of its foreign exchange unit to Moneycorp, a rival backed by the Royal Bank of Scotland.
Citadel Capital increases capitalization through share issue
The shareholders of Egypt's Citadel Capital had approved the share sale for increased capitalization expected to reach EGP3.64 billion.
Kuwait grants extension for Egypt pay back of USD2 billion aid
Egypt was able to leverage a longer term to pay back the aid package provided by Kuwait. Kuwait had given Egypt five years to repay a USD2 billion central bank deposit.
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Majid Al Futtaim Holding, the Gulf region's exclusive franchisee for Carrefour, is pulling out of Egypt and Syria.
The return by Egypt of USD2 billion to Qatar is a sign of growing tensions between the two countries.
Egyptian private equity firm Citadel Capital said on Sunday it would increase its capital following the clearance it had won from the company's shareholders.
The aid by Kuwait to Egypt would consist of USD2 billion in a central bank deposit, USD1 billion grant and USD1 billion in oil products.
The USD2 billion deposit by the Qatari government in support of former Egyptian President Mursi's government was converted to bonds by the current administration in Egypt.
Sinopec, the state owned oil and gas firm, forms Apache and Sinopec Group through the purchase of 33% of the Apache Corp.
French oil and gas company Total said that it would be buying the retail network of US-based Chevron in Egypt.
The European Union said it would study the possibility of using economic pressure to end the bloodshed in Egypt.
The leading Hungarian tour company, Best Reisen Ltd announced bankruptcy after big losses on its Egypt and Tunisia tour packages.
