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FINANCIAL NEWS
Saudi Arabia to invest USD 4bn in projects in Egypt
06 Apr 2016
(MENAFN) Saudi businessmen are investing USD 4bn in projects involving the Suez Canal, energy and agriculture, and have deposited 10 percent of that amount.
Furthermore, 10 percent have been left in Egyptian banks, which will complete 25 percent among three months.
Additionally, the government made efforts to resolve difficulties faced by nine Saudi-owned companies in securing official permits for their projects.
There were 3,302 Saudi-owned firms in Egypt, with a whole capital of USD 27.9bn, while Egypt’s foreign currency reserves dropped at USD 16.56bn.
More News
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BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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