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Saudi and Egypt ‘at the core’ of Arab nation: Egypt Ambassador to KSA

President Abdel Fattah Al-Sisi conducted a one-day visit to close regional ally Saudi Arabia on Sunday, during which Egypt’s ambassador to Riyadh said the two countries would aim to address numerous shared challenges “facing the Arab and Muslim world”, according to state-owned Al-Ahram. Egyptian Ambassador Afifi Abdel Wahab said the relationship between Saudi Arabia and …

Adam Koppeser

Petroleum ministry proposes petrochemical projects worth $540m to UAE

Egypt has proposed three petrochemical projects to the UAE for a total investment of $540m, according to a senior official at the Ministry of Petroleum. The projects included establishing a factory to produce bio-ethanol from molasses, the output of which would reach 100,000 tonnes of molasses annually, with investment in the project totalling $250m. The …

Mohamed Adel

Mobile firm Viva Kuwait full-year profit jumps six-fold

Reuters – Viva Kuwait reported a more than six-fold rise in annual profit on Monday as the mobile telecommunications operator increased its customer base by a third. The Saudi Telecom Co (STC) affiliate made a net profit of KWD 24.25m ($86m) in 2013, up from KWD 3.87m a year earlier, according to its website. Viva, which competes with Zain and …

Daily News Egypt

Government considering forming Egyptian-Kuwaiti economic committee to settle disputes and increase investment

By Mohamed Ayyad The government is considering a proposal from Kuwaiti Ambassador to Cairo Salem Al-Zamanan to form an Egyptian-Kuwaiti economic committee to increase investments and settle outstanding disputes. This suggestion came yesterday during a morning meeting between Prime Minister Ibrahim Mehleb, the Kuwaiti ambassador to Cairo, and the Minister of Industry, Foreign Trade, and …

Daily News Egypt

Kuwait’s Zain says sued for $4.5bn over Iraq Telco buy

Reuters – Zain is being sued for $4.5bn over its 2007 acquisition of an Iraqi telecom operator, the Kuwaiti firm said in a bourse statement on Sunday. Zain bought Iraqna for $1.2bn from Orascom Telecom in December 2007 after the Egyptian firm dropped out of the running for a long-term mobile licence in Iraq. The …

Daily News Egypt

UAE’s Air Arabia bets on Ras Al Khaimah hub

The Sharjah-based budget carrier, which currently operates out of three hubs in the Gulf and North Africa region, signed an agreement with the RAK government in February declaring it the official carrier for the emirate and RAK airport as its new hub.

Daily News Egypt