Business of Sport Egypt to bid for 2036 Olympic Games By Pramod Kumar September 25, 2022, 7:07 AM Laurent Gillieron via REUTERS Olympic Rings are pictured in front of The Olympic House, headquarters in Lausanne, Switzerland, on September 8. Egypt’s President Abdel Fattah Al-Sisi has approved the Egyptian sports authorities to make a bid to host the 2036 Olympic Games, the Daily News Egypt reported. He highlighted the country’s efforts to develop and modernise the sports infrastructure, as well as the construction of the Egyptian City for the Olympic Games in the New Administrative Capital. He added that the existing sports infrastructure qualifies Egypt to host major regional and world championships. International Olympic Committee President Thomas Bach noted that the Egyptian International Olympic City in the New Administrative Capital is one of the most important sports arenas in the Middle East, with its stadiums and covered halls equipped for various individual and team games.
Artificial Intelligence Gulf has a strong hand in Trump’s $500bn AI project Two of the three tech giants that President Donald Trump said on Tuesday will be partners in building billions of dollars worth of artificial intelligence (AI) infrastructure in the US have been recipients of significant Gulf investments. Japan’s Softbank and US companies OpenAI and Oracle committed $500 billion over four years to Stargate, a new […] 4 hours ago
Finance Pakistan agrees to $1bn loan from Middle Eastern banks Pakistan has agreed terms for a $1 billion loan with two Middle Eastern banks at a 6-7 percent interest rate, its finance minister Muhammad Aurangzeb told Reuters on Tuesday, as the South Asian country searches for more financing. “With two institutions we have now gone forward in signing up the term sheet – one bilateral […] 3 hours ago
Economy Egypt targets €4bn EU funding by June Egypt is aiming to strike a deal with the European Union (EU) to secure €4 billion ($4.2 billion) in financing to back its current reform agenda, according to a media report. Cairo has started negotiations with the EU, with the funds directed towards budget support and not specific projects, Asharq Business reported, quoting minister of […] 3 hours ago
Energy Fertiglobe’s $1bn blue ammonia bet hinges on Asia Abu Dhabi-listed Fertiglobe will invest $1 billion in expanding its blue ammonia plant capacity if Asian countries commit to buying. The final decision on the investment depends on securing contracts from Japan and South Korea, who have plans to subsidise imports of the blue ammonia, CEO Ahmed El-Hoshy told Bloomberg. The capacity building will take through […] 2 hours ago
