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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
Moscow And Cairo To Drop Dollar, Use National Currencies In Bilateral Trade: Putin
Russia and Egypt might soon exclude the US dollar and use their national currencies in the settlement of accounts in bilateral trade, Russian President Vladimir Putin said in an interview to Egyptian media ahead of his Monday visit to the country. The issue of abandoning the dollar in trade is “being actively discussed,” Putin told … Continue reading
