Africa's largest trading block is attracting attention of global investors and businessmen. The recent 'Africa 2016' investment forum held in Egypt had participation of over 1,500 businessmen and government representatives. Foreign investors have called for more reforms and policy changes among African nations.
This year’s African economic summit was ended with calls to boost trade and investment on the continent. The conference aims to strengthen Africa’s place in the world economy through investment and to establish Egypt as a gateway for foreign investments.
It appears that a supergiant gas field was recently discovered in an Egyptian coast by an Italian oil group called 'Eni'. According to a recent report by Telegraph, "a supergiant gas field holding the equivalent of 5.5 billion barrels of oil has been discovered off the coast of Egypt, the largest ever find in the Mediterranean."
Middle East fund managers have on balance become bearish on the region's biggest stock market, Saudi Arabia, after oil's rally ran out of steam and the kingdom confirmed strict rules on foreign investment, a monthly Reuters survey shows.
Dassault Aviation (AVMD.PA) will double production of its Rafale combat jet within two to three years of the completion of a planned sale to India, its chief executive said on Monday.
The World Bank is seeking to finance development projects in areas in Iraq that the government has recaptured from Islamic State militants, its regional vice president said.
Egypt wants to attract foreign direct investments worth $60 billion and to get an average growth rate of 7 percent over the next four years, the country's planning minister said.
Egypt's cabinet approved a long-awaited draft law on investment on Wednesday aimed at making deals less vulnerable to legal disputes or changes in government, and reducing stifling bureaucracy.
Commercial flights from Libya to mainland Europe resumed after more than six months on Saturday with a Libyan carrier taking off to Germany, the airline said.
Mashreq, Dubai's third-biggest lender by assets, is interested in acquiring Citigroup's Egyptian retail business, Mashreq's chief executive said on Sunday.
Citigroup has received 10 bids for its consumer banking business in Egypt, three sources with knowledge of the matter said on Tuesday, with banks from the United Arab Emirates prominent among potential purchasers.
Billboards, which trace their roots to ancient Egypt, are set to generate a boom in U.S. deal activity as the biggest operators seek to expand in regional markets, investment banking sources said.
Kellogg Co K.N., the world's largest breakfast cereal maker, once again raised its bid for Egyptian snackmaker Bisco Misr (BISM.CA) on Wednesday, topping a rival offer from the UAE's Abraaj in an intensifying $144 million takeover battle.
Kellogg Co raised its bid on Sunday for Egyptian cake and biscuit maker Bisco Misr, intensifying a bidding war with the UAE's Abraaj Investment Management that has pushed up the offer price by more than 12 percent.
Three African economic blocs will merge into a new 27-nation free-trade zone under an agreement to be signed in Cairo next month, uniting markets worth 58 percent of the continent's economic activity, Egypt's industry and trade minister said.