Industry & Trade
Saudi Arabia's Investments in Egypt are worth US$27bn: FECC
Published 2014-11-23 14:33:44| Hesham Ibrahim, Enas Shabaan
Chairman of the Federation of Egyptian Chambers of Commerce, Ahmed El-Wakil asserted that Saudi Arabia ranked first in terms of Egypt's investments which are US$27 billion and the numbers of projects that reached around 2800 projects including the various productive, service and economic fields. On the sidelines of Egyptian-Saudi Business Council conference, El-Wakil added that the total number of projects is around 1300 projects with investments up US$2.5 billion. The total volume of trade exchange between the two countries ups US$5 billion in addition to Saudi tourism represents 20% of Arab tourism in Egypt, El-Wakil noted. He pointed out that the businessmen of the two countries have a big task to achieve Arab integration dream, especially in light of supporting the political leadership and the visions of the two countries.
- Egypt is Top Priority for Africa’s Tech Industry Growth – Isys Uganda
- Saudi Mobily Suspends CEO after Results Shock
- Egypt Plans $10bn IT Investments within 4 Years – Minister
- Saudi Arabia's Investments in Egypt are worth US$27bn: FECC
- Egypt’s Cleopatra Group Pumps EGP100mn to Spur Production Growth
- In Ten Months, Egypt’s Food Exports Record US$2.5 billion
- Australia Raises A$5.7 Billion Selling Medibank in IPO
- Egypt Hopes To Attract $10-12 Bln At Investment Summit In March
- Egypt’s NileIT to Upgrade Sudan Bourse’s Technological Structure
- 3302 Saudi Companies Active in Egypt, with US$23.9bn Capitals – Official
The African countries are keen to witness greater Egyptian technological presence, said Ali Jjunju of Uganda’s General Manager of Isys Electronic Payment Services. He further described Egyptian technology firms’ plans to expand into the African markets as ‘good step’ towards boosting bilateral cooperation with each African state and accordingly raising the awareness of this vital sector in the continent.The growth currently witnessed by Africa in depending on technological tools makes the continent a promising and tempting soil for the Egyptian companies to expand, he noted. Jjunju further stated that Egypt is one of the most welcome countries to invest in the African continent. The "Isys" group, one of the largest companies providing electronic services via smartphones and tablets, and the fastest-growing company in Middle East and North Africa region, has participated for the first time in the Cairo ICT 2014 in its eighteenth session which was recently held on November 4-7. Commenting on the Group's participation in the Cairo ICT exhibition this year, “engineer Mohamed Al-Rashedy”, group’s founder and CEO, confirmed that “Isys’ has decided to participate in the Egyptian’s exhibition which is specialized in the telecommunications and information technology sector, in accordance with the company's strategy in the Egyptian market and the Middle East region to expand its business in the region where the company expects to increase its business and its customers over the next few months”. During the exhibition’s events, Isys has launched the application system Payit, which is one of the programs based on electronic cash payment services on smart phones and tablet. The "Isys" Company has begun its work since 2005 in Kuwait; where it was entitled by the Kuwaiti telecommunication group "Zen" to be one of its key partners, after the company has provided its first services of chat programs, SMS and other interactive services. In 2006, the "Isys" company expanded in its activities to begin its launch to several countries, as it has begun its activities in Sudan with the company "Mobitel" to provide “medical” services in the form of short medical text messages as well as providing support to the Agence France-Presse "AFP" in France in many magazines including newsletters. Moreover, the company's activity has also extended from 2007 till 2013 to many countries and it has 12 offices such as its office in Bahrain, Egypt, Uganda, Kenya, South Sudan, Palestine, Jordan, Nigeria, Libya and the United States.
Facebook Inc is secretly working on a new website called "Facebook at Work" that would allow users to keep their personal profile separate from their work profile, the Financial Times reported. The new website, that will look very much like Facebook, will compete with professional social network LinkedIn Corp, Google Inc, and Microsoft Corp, the newspaper said. (on.ft.com/1vgu64P) Facebook's new site will allow users to chat with colleagues, connect with professional contacts and collaborate over documents, the newspaper reported, citing unidentified sources. Facebook was not available for comment outside regular U.S. business hours. Facebook employees have long used the site in their daily work and the social networking site is now testing it with companies, the newspaper said.
The Market Quotes Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.