IMF ‘praises’ Egypt’s efforts to improve customs
An International Monetary Fund (IMF) delegation submitted a report to the Egyptian Ministry of Finance in which it…
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Financial Institutions
Sawiris, Kanoo, IFC ink deal to acquire shares of AXA Investment Egypt
The Egyptian branch of the French company AXA Investment signed Monday a preliminary agreement with two companies…
EU allocates €68 million to promote Egypt gas connection
The European Union (EU) has allocated a €68 million grant to the Egypt Gas Connection Project to support key…
Africa Reinsurance to open its regional office in Sudan next July
African Reinsurance Corporation (Africa Re), Africa’s leading reinsurer, is to inaugurate its resident office in…
French AXA expands property and casualty business in Africa with Lloyd’s
France's AXA unveiled a joint venture in Africa with Lloyd's of London insurer Chaucer, seeking to enter the…
Japan’s JICA to secure second tranche of Cairo Metro $340mn loan soon
Japan International Cooperation Agency (JICA) will secure second the second tranche for the $340 million financing…
Moody’s upgrades Argentina as end to creditor battle nears
Moody's bumped up Argentina's credit rating one grade to "B3" on Friday due to "economic policy improvements" under…
Africa Re 2015 net profit hit $1.03 million: regional director
African Reinsurance Corporation (Africa Re), Africa’s leading reinsurer, posted a 12.8 percent fall in net profit…
Misr Insurance renews Sawiris-run Orascom Hotels’ $754mn policy
The leading insurer in MENA region, Misr Insurance Company has renewed an insurance policy for Orascom Hotels and…
Sisi endorses French Development Agency’s €15mn grant for Egypt slum project
Egyptian President Abdel Fattah al-Sisi has endorsed Thursday a €15 million grant from French Development Agency…