This tag is associated with 23 posts

Egypt’s President Sisi Inaugurates The New Suez Canal As A Way To Defeat Terrorists

Egyptian President Abdel Fattah al-Sisi said on Thursday Egypt would defeat terrorism, as he inaugurated the New Suez Canal project and the first ship passed through the waterway. Egypt during this year stood against the most dangerous terrorist ideology, that would burn the world if it could, Sisi said at a lavish ceremony attended by world … Continue reading

Russia Ready To Build Suez Canal Industrial Zone

Russia is willing to take part in establishing an industrial zone in the New Suez Canal project, Russian PM Dmitry Medvedev told Egypt’s daily Al-Ahram. The 72-kilometer section inaugurated on Thursday in Egypt will provide the fastest Europe-Asia shipping route. Our companies are willing to participate in these economic projects. Creating a Russian industrial zone … Continue reading

Will Sisi Succeed In Tackling Egypt’s Subsidies?

By David Wille To make Egypt a more attractive home for investment, President Sisi made tackling unsustainable food and energy subsidies a top priority. A year later, it is still unclear whether Sisi’s government can follow through on reforms that have stymied leaders for decades. As Egypt’s leaders struggle to bring the country’s finances under … Continue reading

Egypt: New Suez Canal To Increase Revenues To $15 Billion By 2023 And Reduce Navigation Time From 22 to 11 Hours

Egypt’s New Suez Canal will open later this year on August 6. President Abdel Fattah al-Sisi sees the project as a symbol of national pride and a chance to stimulate an economy, Reuters reports.  The Egyptian army “began work 10 months ago on the $8 billion canal, flanking the existing, historic 145-year-old waterway and part of … Continue reading

Russia And Egypt Conduct Joint Naval Drills In The Mediterranean Sea

Russian and Egyptian warship crews have started naval maneuvers within combined force teams and drilled an “encounter sea battle,” the Russian Defense Ministry reported on Thursday according to Tass. “On June 11, crews of Russian and Egyptian warships involved in the Bridge of Friendship-2015 naval exercise started to fulfill tasks at sea within combined tactical … Continue reading

Egypt’s Plan To Construct New Mega-Capital City May Cost $300 Billion

Egypt’s plans to construct a new massive capital city may cost around $300 billion to complete, according to Reuters, citing the head of the UAE group leading the mega-project. Egypt’s announcement of a plan to create the new mega-city came last week following a major high profile international investment summit, Egypt The Future: Egypt Economic Development Conference (EEDC), which was … Continue reading

Egypt Unveils Plans To Build Massive New $45 Billion Capital City

Egypt has unveiled an official plan to construct a massive new capital city in a deal which could cost $45 billion. The new capital city, which will be located next to Cairo, will be constructed with funding from Gulf states and will house five million people. The announcement came as Egypt hosted a major high profile international investment summit, Egypt The Future: Egypt … Continue reading

In Boost For al-Sisi, Gulf Nations Pledge $12 Billion In Aid To Egypt

Three Gulf Arab allies have pledged a further $12 billion of investments and central bank deposits to Egypt on Friday during the first day of its international summit, Egypt The Future: Egypt Economic Development Conference (EEDC), in a big boost to President Abdel-Fattah al-Sisi as he works to reform the economy following years of political upheaval. The new pledge of investment adds to the total … Continue reading

BP Says Plans To Invest $12 Billion In Egypt Gas Fields

British energy giant BP said on Friday that it had reached an agreement with its partners to invest around $12 billion on gas fields in Egypt, Reuters reported. The investment will be on the West Nile Delta (WND) in a project aimed at developing 5 trillion cubic feet of gas resources and 55 million barrels of condensates, according to the … Continue reading

Russia, Egypt Agree To Sign Deal On Military Cooperation

Russia and Egypt have agreed to sign an agreement on military cooperation that Russian Defense Minister Sergei Shoigu said will define the expanding bilateral defense relations between the two nations “for years to come”, Russian news agencies reported on Tuesday. The agreement will “determine the vector of our military cooperation for years to come,” Shoigu said. “The parties agreed to continue the … Continue reading

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