CAIRO: Work to develop the site in Egypt of a key Christian event into a global religious tourism destination has got underway. Egyptian minister of housing, utilities, and urban communities, Assem Al-Jazzar, on Thursday said 14 projects had been started in the city of Saint Catherine where the Transfiguration of Jesus is believed to have taken place. The country’s Central
RIYADH: The Egyptian Juhayna Food Industries Company said it has not received any official offers or letters from Abu Dhabi Holding Co. to acquire a stake in it, Al Arabiya reported. Bloomberg News had previously published a story claiming that Abu Dhabi Holding is considering acquiring a stake in Juhayna as part of its efforts for more deals in Egypt. Juhayna’s share price has fallen since late last year, after the authorities detained the company’s founder, Safwan Thabet, and his son, Seif El-Din Thabet, CEO and vice chairman of the company, due to alleged links with the Muslim Brotherhood.
NEW DELHI: India signed its first order for an unapproved COVID-19 vaccine on Thursday, a day after criticism from the Supreme Court over its bungled vaccine rollout that has left millions of people vulnerable after almost 338,000 deaths.
So far, only 4.7 percent of the 950 million adult population have been given two vaccine doses. The world’s second most populous country is reeling from a widespread second wave of infections that killed around 170,000 people in April and May alone.
The government will buy 300 million vaccine doses from local firm Biological-E and has put down an advance of $205.6 million, the health ministry said, even though the vaccine is still going through Phase III clinical trials.
Wataniya Petroleum is being sold to investors including Egypt s SWF
Bidding expected to be complete by end of 2021
Updated 10 min 1 sec ago
Arab News
June 03, 2021 15:55
RIYADH: Dubai’s state energy firm and Saudi Petromin Corporation have entered a competition with Abu Dhabi’s ADNOC to bid on the first company affiliated with Egyptian army to be offered to investors, Bloomberg reported, citing people familiar with the matter.
This bid will allow the winning company to take joint full ownership of military-owned Wataniya Petroleum, a fuel distribution company with 200 filling stations, with Egypt’s sovereign wealth fund (SFE).
The bidding race is expected to be finalized before the end of 2021. Cairo-based investment bank EFG Hermes is advising the wealth fund on the initiative.