Egypt | Tags | Econostrum | Economic News in the Mediterranean

Israel supports a two-state solution to its conflict with Palestine

09/23/2022 | Society / Institutions

ISRAEL / PALESTINE. Speaking at the United Nations in New York during the 77th session of the United Nations General Assembly, the Israeli Prime Minister spoke out in favor of "an agreement with the Palestinians, based on two states for two peoples.

Voltalia invests in five new solar power plants in Portugal

09/22/2022 | Environment

PORTUGAL / FRANCE. The French Voltalia will build a new complex of small solar power plants in Portugal on five sites.

HOMERe France and IECD join forces to facilitate the employability of young Lebanese

09/22/2022 | Services

LEBANON / FRANCE. The HOMERe France association and the European Institute for Cooperation and Development have signed a cooperation agreement to support the employability of Lebanese youth by offering internships in France to senior technicians who have graduated in Lebanon.

Bruno Boulnois, Egypt, Emmanuel Becquart, European Institute for Cooperation and Development, France, HOMERe, IECD, Lebanon, Marseille, Morocco, Paris, Provence-Alpes-Côte d'Azur Region, Renaud Muselier, training, Tunisia

Cyprus' Aphrodite gas field secures financing for its first drilling

09/20/2022 | Industry

CYPRUS. The partners of the Aphrodite gas field approve a $192 million financing that will allow the drilling of a first well in this very promising field.

The Crédit Agricole becomes a majority shareholder in its Egyptian subsidiary

09/13/2022 | Services

EGYPT / FRANCE. Crédit Agricole now owns 52% of the capital of Crédit Agricole Egypt, its subsidiary based in Cairo.

bank, BNP Paribas, Cairo, Crédit Agricole, Crédit Agricole Egypt, Crédit Lyonnais, Egypt, Egyptian American Bank, Egyptian Stock Exchange, Emirates NBD, France, National Société Générale Bank, Qatar National Bank

The Egyptian Abou Ghaly Motors will have 250 electric cabs

09/08/2022 | Environment

EGYPT. Egypt's Abou Ghaly Motors, a provider of integrated mobility solutions, will purchase 250 range-extended electric vehicles (REEVs) for its cab services.

Air France-KLM in the front row for the privatization of the ex-Alitalia which became ITA Airways

09/01/2022 | Society / Institutions

ITALY / FRANCE / UNITED STATES. The Italian Ministry of Economy opened exclusive negotiations with the American investment fund Certares, associated with the airlines Air France-KLM and Delta Air Lines, for the partial takeover of ITA Airways.

The Human Rights Committee finds Madrid guilty of violating the political rights of Catalan separatists

09/01/2022 | Society / Institutions

SPAIN. According to the UN Human Rights Committee, the Spanish state "violated' the political rights of former Catalan leaders by suspending them from political office after Catalonia's 2017 secession attempt.

Saudi Arabia's Alfanar to invest $3.5 billion in green hydrogen project in Egypt

08/30/2022 | Society / Institutions

EGYPT. Saudi company Alfanar has signed a memorandum of understanding to build a green hydrogen production plant at the Egyptian port of Ain Sokhna.

Egypt's central bank governor throws in the towel amid economic meltdown

08/18/2022 | Society / Institutions

EGYPT. Tareq Amer, Governor of the Central Bank of Egypt, has decided to resign one year before the end of his mandate. His country is experiencing a serious economic crisis.

Abdel-Fattah Sissi, Cairo, CBE, Central Bank of Egypt, Covid-19, Egypt, Egyptian economy, GlobalMarkets, IMF, International Monetary Fund, Russia, Tareq Amer, Ukraine, World Bank

Lebanon tries to meet the challenge of a good summer tourist season

07/28/2022 | Services

LEBANON. The Lebanese Minister of Tourism expects tourism revenues of about $3.5 billion during the 2022 summer season. A highly coveted resource in this country in the midst of a socio-politico-economic crisis.

AlHurra TV, Egypt, Fayrouz, Lebanese diaspora, Lebanon, Najib Nikati, TBWA, Tourism, Walid Kanaan, Walid Nassar

IMF urges Egypt to speed up fiscal and structural reforms

07/28/2022 | Society / Institutions

EGYPT. The International Monetary Fund (IMF) has said that Egypt, which is seeking a loan extension, must make "decisive progress" in fiscal and structural reforms.

Black Sea, Bretton Woods, Cairo, Egypt, IMF, International Monetary Fund, Istanbul, Russia, Sameh Shukri, Sergei Lavrov, Sissi, Solidarity and dignity program, Ukraine, UN, World Bank

Tunisia and Algeria fail to host the headquarters of the African Medicines Agency

07/19/2022 | Society / Institutions

AFRICA. The Executive Council of Foreign Ministers of the African Union has decided to award the permanent seat of the African Medicines Agency to Rwanda. Algeria came second in the vote and Tunisia third.

The EU's inhabitants are becoming fewer and fewer

07/12/2022 | Society / Institutions

EU. The population of the European Union decreased again in 2021 from 447 million on 1 January 2021 to 446.8 million on 1 January 2022.

António Guterres, Covid-19, Croatia, Cyprus, Egypt, European Commission, European Union, Eurostat, France, Germany, Italy, Malta, population, population in the EU, Slovenia, Southern Europe, Spain, World Population Day

The Mediterranean in drought

07/05/2022 | Environment

MEDITERRANEAN. Drought is hitting the western Mediterranean this year, with greatly increased fire risks everywhere, and in the worst affected countries a drop in harvests and a threat to drinking water supplies.

Lebanon to import gas from Egypt to fuel its power plants

06/20/2022 | Society / Institutions

LEBANON / EGYPT. Lebanon is to sign an agreement described as "definitive" to import gas from Egypt and solve electricity shortages that have plagued the country for years.

Bretton Woods, EDL, Egypt, electricity, electricity of Lebanon, fuel, Jordan, Lebanon, Syria, United States, Washington, World Bank

EU to buy natural gas from Israel via Egypt

06/16/2022 | Society / Institutions

ISRAEL / EGYPT / EU. Faced with the new geopolitical reality, the European Union signs a tripartite agreement with Israel and Egypt to increase supplies of Israeli natural gas from Egypt after liquefaction there.

Egypt is the second largest recipient of foreign direct investment in Africa

06/14/2022 | Society / Institutions

AFRICA. In African countries, Foreign Direct Investment has reached $83 billion in 2021. A record figure driven in particular by Egypt.

Jordan wants to attract $41 billion in private investment in ten years

06/07/2022 | Society / Institutions

JORDAN. Jordan is embarking on a development plan with the main objective of attracting $41bn of private funds in ten years to double its growth and solve its unemployment problem.

Abdullah, Bisher al Khasawneh, Egypt, FDI, foreign direct investment, IMF, International Monetary Fund, Jordan, Jordanian economy, United Arab Emirates

Egypt accounts for 25% of hotel development projects on the African continent

06/02/2022 | Society / Institutions

Egypt and Morocco occupy the top two spots in W Hospitality Group's survey of hotel development projects on the African continent. NORTH AFRICA. A survey conducted by W Hospitality Group (a hotel, tourism and leisure consultancy based in Lagos, Nigeria), in association with the Africa Hospitality...