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Investment and finance ministers should switch positions

By Naguib Sawiris Many people, including traders, believe that the stock market is a place for venture and quick profit, not knowing that its real goal is to present investments for investment funds and individuals, both locally and globally in companies’ capitalthrough this mechanism that allows investments by buying and selling shares on desiring to …

Daily News Egypt

Sawari Ventures negotiates with 20 investors for $50m investment fund

By Mohamed Alaa El-Din Sawari Ventures is planning to launch a new investment fund with capital worth $50m, according to the company’s CEO and Co-Founder Ahmed El-Alfy. In a statement to Daily News Egypt, El-Alfy said the company, which specialises in the management and investment of venture capitals in technology industries, is currently negotiating with …

Daily News Egypt

Egypt, EIB sign declaration of intent to finance developmental projects: International Cooperation Minister

By Mohamed Ayyad During the Economic Summit in mid-March, Egypt signed a declaration of intent with the European Investment Bank (EIB),  to finance developmentprojects, said Minister of International Cooperation Nagla Al-Ahwani in a statement Sunday. The declaration with EIB included many sectors in which the bank is willing to fund in the period between 2015-2017. …

Mohamed Ayyad

TE aims to increase infrastructure investments to EGP 3bn during 2015

By Mohamed Alaa El-Din Telecom Egypt (TE) allocated EGP 3bn for investments in the infrastructure sector this year, with an increase of EGP 500m than 2014, said Mohamed El-Nawawy, CEO of TE, to Daily News Egypt. According to Nawawy, revenues from marine cables amounted to EGP 1.2bn, with the support of two giant projects with …

Daily News Egypt

BP signs an agreement with Egypt to invest $12bn

BP plans to sign an agreement Saturday worth $12bn to invest in the West Nile Delta gas project. The agreement is considered one of the biggest investment agreements in the history of Egypt. The step comes as part of the British delegation’s participation, headed by Foreign Minister Philip Hammond in the Sharm El-Sheikh Economic Summit …

Daily News Egypt