Two years on, and Egypt is back in crisis. Mohamed Morsi, Egypt’s Islamist president, announced a month-long state of emergency on Sunday following violence in which nearly 50 have died.
For anyone hoping for a turnaround in Egypt’s economic fortunes, it’s another big blow and one that may hurt chances of a deal with the IMF. Continue reading »
Gulf banks are betting on Egypt despite anti-government protests continuing in several cities, writes Camilla Hall.
Hot on the heels of Qatar National Bank’s deal last week to buy Société Générale’s Egypt’s unit for $2bn, Dubai government-controlled Emirates NBD is looking to buy BNP Paribas’ Egyptian retail banking business, according to people familiar with the deal. Continue reading »
Construction of Tunisia’s first-ever privately owned oil refinery will begin later this year with an investment by Qatar, which has been busy buying up properties in north African states emerging from a year of political tumult.
The state-owned Qatar Petroleum Company agreed years ago to build the refinery, just outside of Tunisia’s industrial port city of Sfax. But the deal was only set to be finalised on Sunday, according to Kuwait’s official news agency. Continue reading »