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Monday, 20 March 2023

Russia, Egypt look to boost investment and trade. PLUS: ADIB, Mastercard, Israel-Palestine


Palestine and Israel have agreed to set up a “mechanism to curb and counter violence, incitement and inflammatory statements” during talks in Sharm El Sheikh attended by Egyptian, Jordanian and US officials yesterday, according to a statement. Israel has also agreed to postpone discussions on establishing new settlement units in the occupied West Bank for four months and to end authorizing illegal outposts for six months.


More Russian investment incoming? President Abdel Fattah El Sisi sat with a Russian delegation headed by Deputy Prime Minister and Trade Minister Denis Manturov yesterday. The meeting focused on Russian investment and joint ventures in Egypt, Ittihadiya said. Among the priority industries: grains and food, manufacturing, agriculture, and energy, according to a readout from the Russian government.

A push for the Egyptian-Eurasian trade agreement: “Considerable progress has been made since the launch of this process in 2019 … we are looking forward to reaching the final agreements as soon as possible,” Manturov said.


Abu Dhabi Islamic Bank (ADIB) Egypt intends to launch a digital consumer finance company in 2H 2023, and is working with the Finance Ministry to issue EGP-denominated sukuk.


Mastercard is launching an e-wallet in Egypt with a telecom company.

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