Construction Egypt seeks to privatise airports says Madbouly By Pramod Kumar November 6, 2023, 5:30 AM Reuters/Amr Abdallah Dalsh Prime minister Mostafa Madbouly underscored the government’s commitment to collaborating with the private sector to enhance Egypt's transportation industry Mass transit lines to be included in plans Government ‘committed’ to private sector deals Prime Minister meets infrastructure firms Egypt is planning to privatise the management and operation of airports and mass transit lines, Prime Minister Mostafa Madbouly said. During a meeting with executives of more than 20 of the biggest companies in transport, logistics and maritime navigation from the UAE, China and the US, among others, Madbouly underscored the government’s commitment to collaborate with the private sector in enhancing the transportation industry. Egypt targets $35bn foreign investment in next five years Egypt signs contract to establish $1bn tyre factory Egypt poised for $3bn green hydrogen facility Daily News Egypt quoted Madbouly as saying: “We are certain that the private sector is best suited to manage and operate various projects and facilities, whether sea ports or dry ports.” In July, Egypt approved 17 infrastructure projects under its public-private partnerships (PPP) scheme. The projects include three wastewater and industrial waste plants in Sadat, New Beni Suef and New Mansoura, and nine transformer plants and electrical grid projects in the New Administrative Capital, 6 October City and New Aswan City. The government has announced that 21 water desalination plants with a total capacity of 3.3 million cubic metres per day will be offered to the private sector until 2025 for a value of $3 billion.
Aviation Saudi budget airline Flynas expects IPO approval soon Saudi low-cost carrier Flynas is likely to get approval soon from the market regulator for its planned listing on the Riyadh stock exchange. Talal Al Maiman, CEO of the airline’s part-owner Kingdom Holding, said in an interview with Al Arabiya TV at the World Economic Forum that Flynas planned to list 30 percent of its […] 9 hours ago
Artificial Intelligence MGX could use Trump deal as springboard to global stage UAE technology investment company MGX emerged on to the global stage this week when it was announced as one of the core backers of Donald Trump’s $500 billion Stargate artificial intelligence programme. Among the myriad announcements made in the opening days of Trump’s second stint as US president, was a $500-billion investment over four years […] 9 hours ago
Economy Turkey cuts interest rate by 250 basis points Turkey’s central bank cut its key interest rate by 250 basis points to 45% as expected on Thursday, carrying on an easing cycle it launched last month alongside a decline in annual inflation that is expected to continue. The central bank indicated it would continue to ease policy in the months ahead, noting that it anticipated a rise in trend inflation in January, […] 10 hours ago
People & Lifestyle Kuwait-backed US car wash operator plans $3bn sale A Kuwait-backed car wash operator in the US is considering a sale that could value the company at nearly $3 billion including debt. Spotless Brands, which operates more than 205 locations through six brands across 10 US states and Washington DC, is working with investment bank William Blair on the possible sale, which was not […] 11 hours ago
