The powers are exerting influence with Israel and Hamas, with direct mediation from Qatar and Egypt, to transform the truce, extended for another two days, into a definitive ceasefire, creating the necessary conditions for the establishment of the political solution of “ two states, one Jewish and the other Arab. The diplomatic strategy is reinforced …
British multinational oil and gas company Shell has disvovered a gas reservoir at the North East El-Ammiya block in the Mediterranean Sea, offshore Egypt. The discovery was made at 250m below sea level using Stena Drilling’s Stena Forth drillship. The well bearing the discovery is Shell’s first in a campaign in which the major will …
Egypt’s Finance Minister, Mohamed Maait, and India’s Ambassador to Cairo, Ajit Gupte, discussed ways to bolster economic cooperation between the two nations, particularly in light of global economic challenges arising from the conflict in Ukraine and its subsequent impact on food, fuel, and financing costs. The meeting focused on exploring the feasibility of utilizing local …
Egypt and India explore local currency settlements to strengthen economic ties Read More »
The African Export-Import Bank (Afreximbank) has entered into a framework agreement for the Export Agriculture for Food Security (ExAFS) Initiative with ARISE Integrated Industrial Platforms (ARISE IIP) and the governments of Chad, Malawi, Zimbabwe and Egypt. The initiative seeks to initiative to improve food security in Africa. At a ceremony on the fifth day of …
COMESA’s trade globally and within the region has recorded a significant increase with the total exports to the world gaining by 15% from US$179bn in 2021 to US$205bn in 2022. The largest exporting countries in the COMESA region were Libya, Egypt, Tunisia and Sudan. These had a combined market of 98% in exported fuels in …
The adoption of electric transportation models in Africa creates new avenues for low-cost travel, improving accessibility within and between cities and reducing emissions across the industry. Several countries are already advancing Electric Vehicle (EV) integration. Nigeria In Nigeria, the Lagos Metropolitan Area Transport Authority has initiated an electric train service on the Lagos Rail Mass …
6 Countries Advancing Electric Transportation in Africa Read More »
A first group of people with foreign passports crossed the Rafah terminal, a border post towards Egypt, this Wednesday, under an agreement mediated by Qatar, following the conflicts between Israel and Hamas, according to the international press. Evacuees were taken in ambulances through the Rafah border crossing. Under the terms of the agreement reached between …
First group of foreigners leaves Gaza for Egypt today Read More »
GameChange Solar, a global provider of solar racking solutions, has announced that it has entered into an agreement to supply solar tracker systems to support a 560 MW capacity solar project in Egypt with CEEC-ZTPC, an engineering, procurement and construction (“EPC”) company headquartered in China with energy project development projects in multiple countries. The agreement …
Egypt has successfully issued a 3-year Sustainability Panda Bond worth RMB 3.5 billion ($478.7 million). The North African nation is the first on the continent to do so, a move that underscores its commitment to access previously untapped sources of capital to drive economic growth. The African Development Bank and the Asian Infrastructure Development Bank …
IFC today announced a partnership with Banque Misr, Egypt’s second largest public sector bank, to increase access to finance for privately-owned micro, small and medium-sized enterprises (MSMEs), including women-owned MSMEs, in the country. The partnership will help create jobs, boost economic growth, and reduce the gender financing gap. IFC’s $234 million loan to Banque Misr …