Home > Insights > The ministry of International Cooperation will sign an agreement next month with the World Bank Group to double its investments in Egypt to 4.5 BN USD in the coming four years of 1.2 BN USD per year.
Sunday, 12 Jul 2015

The ministry of International Cooperation will sign an agreement next month with the World Bank Group to double its investments in Egypt to 4.5 BN USD in the coming four years of 1.2 BN USD per year.


Insights MENA

$ti2
Economic Outlook

Economic Outlook

The ministry of International Cooperation will sign an agreement next month with the World Bank Group to double its investments in Egypt to 4.5 BN USD in the coming four years of 1.2 BN USD per year. The investments will focus on water, agriculture and youth.  Jordan’s GDP increased by 2% in Q1 2015 compared to the same quarter of 2014. On the other hand, the Jordanian government has signed 13 agreements to build several wind and solar power plants with total capacity 317 megawatts. It’s worth mentioning that by 2018 the electricity generated by renewable energy projects will reach about 1,000 megawatts.  The total production of electricity and water in Oman has increased 17% in April 2015 compared to the same period last year. The total electricity production reached 8,474.1 GW per hour compared to 7,239.9 GW during the same period last year.  Qatar’s real GDP growth in Q1 2015 has increased by 4.1% compared to the same period last year. Moreover, real GDP reached 199.21 BN QAR in Q1 2015 compared to 191.31 BN QAR in Q1 2014.  Expected investments in Madinah will reach 500 BN SAR in the coming few years as the forecasted growth in the population will reach 2.6 MM people after 25 years, while the number of visitors is expected to be 12.2 MM persons a year.  Passenger traffic at Dubai’s main airport increased by 23.2% from a year earlier to 6.2 MM people in May. Also the number of flights increased by 48.8% compared to last year to be 34,017 flights in May.
Political Events

Political Events

Egypt’s top public prosecutor Hisham Barakat fatally wounded and died of his wounds in the hospital after attack involved a car bomb placed under a parked car near his convoy.  Egypt's armed forces said that at least 100 militants and 17 soldiers had been killed after attacking 15 security sites and carrying out three suicide bombings by Islamic State insurgents in Egypt’s North Sinai.  A suicide bomber killed 27 people when he blew himself inside Shi’ite Muslim mosque in Kuwait city during Friday’s prayers. 227 people were wounded
Companies Transactions

Companies Transactions

The Egyptian Natural Gas Holding Company (EGAS) carries out Largest Seismic Exploration Project with PGS EGAS will implement the largest seismic oil and gas exploration project in the Mediterranean as it will conduct two or three dimensional scans in the western zone of Egypt’s territorial Mediterranean waters.  Royal Jordanian (RJ) and Oasis 500 signed a partnership agreement to encourage innovation in the airline industry RJ and Oasis 500, a leading early-stage business accelerator, signed a partnership agreement as RJ will generate innovative business ideas across its entire value chain and Oasis 500 will invest and accelerate their growth as startup companies.  Al Meera transfers 49% stake in Al Oumara to Qatar Quality Food Al Meera Consumer Goods Company (Al Meers CGC) decided to transfer a 49% stake in Al Oumara Bakeries Company LLC to Qatar Quality Food LLC for a purchase price of 3 MM QAR consisting of total 245 shares.  Saudi Basic Industries Corp (SABIC) unit and South Korea's SK form polyethylene project SABIC has completed the formation of a joint venture with Korean petrochemical manufacture SK Global chemical Co to produce polyethylene products. Total investment of this project will be 640 MM USD for the technology and plant construction.  Zamil Steel Construction Company (ZSCC) awarded 20.5 MM SAR water tanks factory in Jeddah ZSCC was awarded a turnkey project contract of 20.5 MM SAR by Al Zamil Industry; Trade and Transport Company for its new water tanks factory project in Jeddah. The contract includes the design, fabrication, supply and erection of more than 340 metric tons of pre-engineered steel buildings.

Dubai

Office No. N307, North Tower,
Emirates Financial Towers, DIFC, Dubai, UAE
P.O Box: 506726
Tel: +9714 351 8187
info@multiplesgroup.com

Cairo

Zepter Office Building,
S5-6, Area 5, District 1, New Cairo, Egypt.
P.O Box: 11477
info@multiplesgroup.com

Nairobi

Kenya Block C, Ground Floor, Fortis Office Park Muthangari
Dr Westlands, Nairobi, Kenya
Tel: +254 20 5148174
P.O. Box: 66488-00800

BETA