The Egyptian government is battling to complete oil supply deals that it has concluded with Libya and Iraq due to the lack of acceptable bank guarantees. Amidst fuel shortages, the inability to secure an acceptable guarantee highlights the weakness of the public coffers. The deals were expected to solve the country’s energy problems, but an [...]
While Egypt is in dire need of foreign assistance to take up the various challenges triggered by the severe downturn of its economy, Members of the European Parliament have made it clear that they are opposed to financial support to Cairo unless the government makes progress in matters of democracy and that the EU aid [...]
Cairo’s bourse three week high journey was brought to an end after Société Générale decided to sell its stakes in Egypt’s National Société Générale Bank (ENSGB). Société Générale is a major stakeholder in ENSGB and its decision to sell shares to Qatar National Bank (QNB) brought down shares of the ENSGB. Société Générale pegged its [...]
In what could be described as a bilateral free trade financial cooperation between Egypt and Turkey, the two countries are looking at the possibilities of establishing an alliance between their two stock exchange markets. The establishment of such an alliance will permit investors from the two countries to trade on each other’s market. Negotiations have [...]
Egypt is embarking on a another revival project of its economy as it sets aside numerous projects to develop areas around the Suez Canal and the south of the country in a bid to create jobs and attract investors back. The projects which are fourteen in number are a joint partnership between the government and [...]
The newly formed Egyptian government has managed to get a $2 billion loan from the oil-rich emirate of Qatar, the second country after Saudi Arabia supporting the Egyptian ailing economy since the fall of former President Hosni Mubarak in a popular uprising in 2011. The loan was announced following a meeting in Cairo between the [...]
Cairo has swept away fears as to the fate of the Egyptian-Israeli peace treaty when newly elected President Mohamed Morsi reaffirmed during talks with US secretary of State Hillary Clinton his country’s support to this treaty, signed in 1979, and that the United States deem as a cornerstone of regional security. Israelis as well as [...]
Cairo plays host to a two-day meeting between opposition groups of the Assad regime under the auspices of coming to a conclusion of the proposed UN transitional government peace plan. The meeting is hosted by the Arab League for the first time but organized by the Syrian National Council, Syria’s principal exiled opposition group, and [...]
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