Sunday 19 April 2015
 
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Egypt

Orascom Construction bullish on Egypt, eyes reforms

Orascom Construction is bullish about growth opportunities in Egypt but wants the government to make clear commitments to further economic reforms, the company's chief executive said in an interview. The engineering and buildi

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Adnoc set to start oil product deliveries to Egypt

State-run Abu Dhabi National Oil Company (Adnoc) will start monthly deliveries of $400 million of petroleum products to Egypt from next week until the end of October, a source at the state-owned Egyptian General Petroleum Corporation (EGPC) said

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Egypt signs $1.6bn energy deals with Kuwait group

Egypt has signed preliminary deals with Kuwait's Alghanim International for two energy-related projects worth a total of $1.6 billion, its prime minister said in a statement on Wednesday. One initiative would see four gas-powe

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Egypt eyes $55m spend to develop slums

An Egyptian Housing Ministry unit has backed a proposal to invest EGP425 million ($55 million) in developing slums across the country, a report said. The investment will be part of the plan for fiscal year 2015-2016, Minister of H

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Egypt, Saudi plan major military manoeuvre

Egypt said it and Saudi Arabia had discussed holding a "major military manoeuvre" in Saudi Arabia with other Gulf states, following talks on the progress of the three-week-old Saudi-led campaign of air strikes against the Houthis in Ye

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Egypt's Midor refinery seeks $400m via IPO

Egypt's state-owned Middle East Oil Refinery (Midor) seeks to raise $400 million with an initial public offering (IPO) in the last quarter of 2015, three sources with direct knowledge of the process said on Tuesday. Midor, Egy

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Chinese group wins $600m Egypt rail contract

China Railway Construction Corporation (CRCC), the second largest state-owned construction enterprise in China, said one of its subsidiaries has been awarded $600-million contract to upgrade the Egyptian national railway. The CRCC

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Egypt sentences Brotherhood leader to death

An Egyptian court sentenced Mohamed Badie, leader of the outlawed Muslim Brotherhood, and 13 other senior members of the group to death for inciting chaos and violence, and gave a life term to a US-Egyptian citizen for ties to the Brotherhood.

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IFC to invest $2bn in Egyptian infrastructure, power

The World Bank's development arm plans to invest between $1.2 billion and $2 billion in Egypt over the next four years, including around the Suez Canal, its regional director told Reuters. The International Finance Corporation

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US mulls major missile sale to Egypt

The US said on Wednesday it was considering a $57 million sale of air-to-surface missiles to Egypt, the second big arms deal this week after Congress was notified of a potential $1 billion sale of helicopters and missiles to Pakistan.

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