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International Agreements

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6 December 04:59 PM IMF to discuss Egypt’s $3bn loan deal next week
Cairo – Mubasher: The executive board of the International Monetary Fund (IMF) has scheduled a meeting on Egypt on 16 December 2022 as the Arab world’s most populous nation awaits final approval for a $3 billion loan deal. On 5 December, the …
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6 December 11:28 AM Egypt, Poland trade exchange hits EUR 700K last year
Cairo – Mubasher: The volume of trade exchange between Egypt and Poland reached EUR 700,000 in 2021, Ahram Gate reported. In a press conference on the margin of the Food Africa 2022 Conference, Poland’s Ambassador to Egypt, Michał Łabenda, said …
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5 December 03:54 PM Schneider Electric to distribute products online via DATCO’s digital platform
Cairo - Mubasher: Global leader in the digitalisation of industrial automation and energy management, Schneider Electric, has signed a partnership contract with the Industrial Services Center (DATCO) to distribute its products. The new partnership …
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5 December 09:48 AM Egypt hopes to obtain $750m of IMF loan this December – Minister
Cairo – Mubasher: Egypt's Finance Minister, Mohamed Maait, said his country hopes to obtain the first tranche of the International Monetary Fund (IMF) loan valued at $750 million this month. During a recent press conference, the minister added the …
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1 December 03:52 PM VC firm 500 Global opens office in Egypt, partners with ITIDA
Cairo - Mubasher: US-based 500 Global is partnering with the Egyptian IT Industry Development Agency (ITIDA) to launch a range of investment and startup-focused support programmes. 500 Global, one of the world’s most active venture capital (VC) …
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1 December 02:15 PM Egypt approves $271m financing agreement with ADF
Cairo – Mubasher: The Egyptian cabinet has approved a draft decision regarding a financing agreement worth $271 million between Egypt and the African Development Bank (ADF) for a programme to support food security and economic resilience.  This …
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1 December 01:40 PM Egyptian gov't approves setting up Yazaki free zone, investment zone
Cairo – Mubasher: The Egyptian cabinet has approved a draft decision to set up a private free zone under the name of “Yazaki Egypt for Electrical Systems” on an area of 67 square metres in Fayoum governorate. The free zone specialises in …
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1 December 09:36 AM Pfizer unveils future strategy in Egyptian market
Cairo – Mubasher: Pfizer Egypt for Pharmaceutical and Biopharmaceuticals has shared the company's latest business update for 2022 and its strategy in Egypt in the coming years, unveiling its commitment to growing its presence in the Egyptian …
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30 November 11:50 AM Global Auto named as new importer for BMW, MINI in Egypt
Cairo - Mubasher: BMW Group announced the appointment of Global Auto Group as the new importer of BMW and MINI in Egypt, according to a press release on Wednesday. Global Auto Group has also acquired Bavarian Auto Group, the former importer of …
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29 November 05:00 PM Egypt's economy is good despite all global challenges - Maait
Cairo – Mubasher: Egypt’s Finance Minister, Mohamed Maait, said the performance of his country’s economy is good despite the difficult global challenges, according to a statement on Tuesday.    During fiscal year (FY) ended 30 June 2022, the …
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29 November 04:13 PM Bioventure, Minapharm, MiGenTra to commercialise multiple biosimilar candidates of Alvotech
Mubasher: Dubai-based Bioventure, Minapharm Pharmaceuticals, and MiGenTra GmbH have signed an exclusive licence agreement for the commercialisation of multiple biosimilar candidates developed and manufactured by Alvotech, in Egypt and eighteen …
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27 November 04:36 PM Egypt's LNG exports to Europe rise 10% this year
Cairo – Mubasher: Egypt’s Minister of Petroleum and Mineral Resources, Tarek El-Molla, said on Sunday that his country represents one of the available solutions to meet the demand for natural gas in European markets.  Last year, the Arab world’s …
Osmar Chohfi, President of ABCC
27 November 03:32 PM Brazilian exports to Arab world exceed $14bn in 10M-22
Mubasher: The Arab Brazilian Chamber of Commerce (ABCC) has announced an annual increase of 25.71% in Brazilian exports to the Arab countries during the first ten months (10M) of 2022 at $14.47 billion from $11.51 billion. Brazilian exports to the …
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24 November 03:23 PM Egyptians for Housing signs EGP 40m leasing contracts
Cairo – Mubasher: Egyptians for Housing and Development Co has signed a five-year leasing contract with Huawei Technologies (Egypt) for a fully-finished one-and-a-half floor spanning 3,420 square meters.   The rental value will hike by 8% annually …
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24 November 02:54 PM Egypt’s President approves EUR 776.9m loan agreement with France
Cairo – Mubasher: Egypt’s President Abdel Fattah El-Sisi has issued a presidential decree approving a EUR 776.90 million loan agreement with France, the Middle East News Agency (MENA) reported. The agreement was signed between the Egyptian …
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24 November 09:26 AM 2Africa Lands in Egypt’s Ras Ghareb
Cairo – Mubasher: Meta and Telecom Egypt announced the first landing of the 2Africa subsea cable in Egypt at Ras Ghareb in the Red Sea, as part of the 2Africa consortium. The Ras Ghareb landing is one of several taking place in the coming months …
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23 November 04:44 PM Marriott International signs agreement with RDK Tourism Investment
Dubai – Mubasher: Marriott International has signed a deal with RDK Tourism Investment to open four properties in the UAE. The signings are predicted to further enhance the company’s footprint in Abu Dhabi and Dubai with the addition of more than …
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23 November 01:53 PM Saudi Dar Alarkan partners with Trump Organization for $4bn project in Oman
Riyadh – Mubasher: Dar Al Arkan Global Company, a subsidiary of Dar Alarkan Real Estate Development Company, has inked an agreement with the Trump Organization on 16 November 2022. Under the deal, the Saudi company will develop Trump residential …
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9 November 05:02 PM IRSC introduces SulleX solutions to Egypt in a first
Cairo – Mubasher: Integrated Renewable and Sustainable Communities (IRSC) has been chosen to equip Sharm El-Sheikh International Airport for the groundbreaking 2022 United Nations Climate Change Conference (COP27). IRSC is set to transform the …
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9 November 01:35 PM Elsewedy Electric, Deutsche Bahn to operate Egypt's 1st high-speed rail network
Cairo – Mubasher: The Egyptian government has awarded the contract to operate the country's first high-speed rail network to Elsewedy Electric and the German Deutsche Bahn International Operation (DB IO) which has an initial term of 15 years. The …
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8 November 04:34 PM Global Pioneer pumps EGP 3bn new investments in Egypt
Cairo – Mubasher: Global Pioneer has injected EGP 3 billion worth of investments to construct a number of projects in Egypt's New Administrative Capital (NAC) and Sheikh Zayed City.      The company has entered into a partnership with IWG plc, a …
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7 November 01:56 PM Odoo, Aramco to accelerate SMEs' digital transformation in Saudi Arabia
Dubai – Mubasher: Odoo, an open-source ERP system, signed a memorandum of understanding (MoU) with the Saudi Arabian Oil Company (Aramco) to supercharge growth for Small and Medium-sized Enterprises (SMEs) in Saudi Arabia. This strategic …
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6 November 09:32 AM Tetra Pak, Uniboard to establish first-ever joint project to recycle UBC in Egypt
Cairo – Mubasher: Tetra Pak signed an agreement with Uniboard to cooperate with the objective to recycle used beverage cartons (UBC) in Egypt, with a total joint project value of over EUR 2.50 million. This is an industry-first joint initiative …
President of Middle East and Africa at Mitsubishi Power, Khalid Salem
1 November 07:52 PM Mitsubishi Power, Egypt’s Damietta LNG sign long-term service agreement
Cairo – Mubasher: Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries (MHI), inked a long-term service agreement (LTSA) with Damietta LNG (DLNG), a leading producer and exporter of liquid natural gas (LNG) in Egypt. The …
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1 November 12:58 PM Aramco, IBM aim to set up innovation hub in Saudi Arabia
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) and IBM announced preliminary plans for a strategic collaboration to establish an Innovation Hub in Riyadh city. The collaboration aims to support high-tech driven economic growth in Saudi …